Citigroup Inc. (C) Q4 2025 (USD): Adj. EPS 1.81 (exp. 1.68), Adj. Revenue 21bln (exp. 20.55bln),

• Recorded c. USD 1.2bln hit in Q4 related to sale of Russia business.

• Credit losses provision 2.2bln, primarily consisting of net credit losses in US cards.
• FICC sales & trading revenue 3.46bln (exp. 3.29bln).
• Investment Banking fees 1.29bln.

• FY26 NII ex-markets +5/6% Y/Y.

Citigroup's Q4 results exceeded expectations on both adjusted EPS and revenue, suggesting a stronger underlying performance in their core banking operations. However, the approximately $1.2 billion loss from the sale of their Russia business is a notable headwind, particularly as they also increased credit loss provisions significantly, indicating potential concerns over credit quality. With guidance for a modest increase in net interest income for FY26, the outlook remains cautious amidst these challenges.