Citigroup Inc (NYSE:C) today reported its financial results for the third quarter of 2025.
Markets revenues of $5.6 billion increased 15%, driven by growth in both Fixed Income markets and Equity markets revenues.
Fixed Income markets revenues of $4.0 billion increased 12% on the back of growth in both rates and currencies and spread products and other fixed income. Rates and currencies revenues increased 15%, largely driven by higher revenues in rates due to elevated client activity. Spread products and other fixed income revenues were up 8%, reflecting higher mortgage trading, higher financing activity and lower commodities activity.
Equity markets revenues of $1.5 billion increased 24%, driven by higher client activity in derivatives and increased volumes in cash equities, along with continued momentum in prime services, with record prime balances (up approximately 44%).
Markets operating expenses of $3.5 billion increased 5%, primarily supported by higher compensation and benefits, along with the impact of FX translation, partially offset by lower transactional and product servicing expenses, as higher transaction volumes were more than offset by efficiency actions.
Markets net income was $1.6 billion increased 46%, driven by the higher revenues and the lower cost of credit, partially offset by the higher expenses.
Across all segments, Citigroup revenues of $22.1 billion in the third quarter 2025 increased 9%, on a reported basis, driven by growth in each of Citi’s five interconnected businesses and Legacy Franchises, partially offset by a decline in Corporate/Other.
Net interest income increased 12%, thanks to Markets, U.S. Personal Banking (USPB), Services, Wealth, Legacy Franchises and Banking, partially offset by a decline in Corporate/Other. Non-interest revenue increased 4%, driven by Banking, Wealth and Legacy Franchises, largely offset by decreases in Corporate/Other, Markets, Services and USPB.
Citigroup net income was $3.8 billion in the third quarter 2025, compared to net income of $3.2 billion in the prior-year period, thanks to the higher revenues and the lower cost of credit, largely offset by the higher expenses.
Earnings per share of $1.86 increased from $1.51 per diluted share in the prior-year period, reflecting the higher net income and lower shares outstanding.
