Finance
Citigroup Soars as Fraser Plans to Buy Back $20 Billion of Stock
- Repurchase plan shows ‘continued confidence’ in earnings: CFO
- Bank lowered 2026 target for return on tangible common equity
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Citigroup Inc. said it will repurchase $20 billion worth of its stock in the coming years — unleashing billions of excess capital the bank had been keeping on hand in order to meet a key ask from shareholders.
The announcement was part of the bank’s stronger-than-expected results for the fourth quarter, in which revenue rose across all five of its main business lines. The lender said it now expects revenue to rise to $83.5 billion to $84.5 billion in 2025, higher than what analysts were anticipating.