The key takeaway from Citi’s 2026 Investor Day is that the firm has successfully rebuilt its foundation and is now positioned to deliver sustainable, higher returns.

Since its last Investor Day in 2022, Citi has completed a multi year transformation — sharpening its focus on five core businesses, simplifying how it operates, modernizing its infrastructure, strengthening risk management and raising performance standards across the firm. 

As Chair and CEO Jane Fraser stated, the goal was always about "building the bank the next decade demands."
 

Citi’s strategy is centered on five core, interconnected businesses: Services, Markets, Banking, Wealth, and U.S. Consumer Cards. What differentiates Citi is its ability to deliver these capabilities as one firm — with cross-business collaboration that is systematic, not situational. This integrated model allows Citi to serve clients across their full range of needs, from managing global cash flows and hedging risk, to financing growth and managing personal wealth, driving stronger, more durable outcomes than standalone offerings could achieve.

Citi’s growth strategy is anchored in investing where the firm has a clear right to win and converting that growth into durable, higher returns. This approach is applied consistently across the franchise through four core pillars:

• Deepening client relationships

  Citi is focused on strengthening relationships with institutional clients and high quality customers to grow wallet share by delivering more of the firm’s capabilities in a coordinated way.

• Investing in technology and innovation

  Significant investment is being made in modern platforms, including AI, data and digital asset capabilities, to enhance client offerings, improve productivity and modernize how the firm operates.

• Targeted segment growth

  The strategy prioritizes share gains in specific high growth areas and segments where Citi has competitive advantages — such as Equities, fast growing industries like digital commerce, and key institutional client segments.

• Delivering as “one firm” 

  A core differentiator is making cross business collaboration systematic, not situational, supported by aligned incentives, shared data and disciplined execution to deliver integrated solutions more consistently.

Together, these pillars support sustainable growth, stronger client outcomes and improved returns over time.

Citi set new near-term and medium-term targets at its 2026 Investor Day. Additionally, Citi is on track to achieve its current 2026 RoTCE target of ~10-11%¹. 

• New near-term² target (2027 and 2028): 
  • ~11-13% RoTCE ex-notable item³ (expect to be within this range for both 2027 and 2028)
• New medium-term⁴ target (2029-2031)
  • ~14-15%¹(expect to reach this range over the medium term)
• There are three building blocks in driving higher returns in the near term:
  • Increased revenue growth across the five core businesses, enabled by strategic investments including technology investments
  • Efficiency gains from the continued reduction of Transformation expenses and stranded costs from the divestitures, which will fund the growth investments
  • Deploying capital more productively, improving our U.S. profitability, allowing us to accelerate the reduction of DTA

FOOTNOTES

1. See footnote e. on page 26 on the CFO Presentation
2. See footnote a. on page 26 on the CFO Presentation
3. See footnote f. on page 26 of the CFO Presentation
4. See footnote b. on page 26 of the CFO Presentation

Below are the core focus areas and the new near-term and medium-term RoTCE targets across the five businesses. 

• Services: Execute on client strategy; product innovation; next-generation platforms
  • Near-term¹ RoTCE target: Mid-20s through the cycle²
  • Medium-term² RoTCE target: Mid-20s through the cycle²
• Markets: Growth in Equities and Financing & Securitization; maintain strength in Fixed Income
  • Near-term¹ RoTCE target: 11.5%-13%
  • Medium-term² RoTCE target: 13%+
• Banking: High-growth sectors and sponsors; drive growth in NAM
  • Near-term¹  RoTCE target: Mid-teens
  • Medium-term² RoTCE target: Mid-to-high-teens
• Wealth: Deliver a global Private Bank experience; continued growth in APAC; transform the Retail Bank
  • Near-term¹ RoTCE target: 15-20%
  • Medium-term² RoTCE target: 20%+
• Cards³: Accelerate customer acquisitions; grow mix of General Purpose Credit Cards
  • Near-term¹ RoTCE target: Low-20s through the cycle² 
  • Medium-term² RoTCE target: Low-20s through the cycle²

FOOTNOTES

1. See footnote a. and e. on page 26 on the CFO Presentation
2. See footnote b. and e. on page 26 on the CFO Presentation
3. See footnote t. on page 27 on the CFO Presentation

Citi’s Transformation has strengthened the firm’s foundation by materially improving both financial and operational resilience. Citi now operates with faster, more standardized monitoring, reporting and controls — enabling quicker decision making, stronger risk management and greater confidence in execution. This resilience allows Citi to perform consistently across market conditions and provide clients with more predictable outcomes, faster approvals and a higher quality experience.

Citi is moving beyond early adoption to a disciplined, enterprise wide approach to AI, focused on delivering measurable impact across the firm. Our strategy is to put AI to work to:

• Drive business strategy and revenue growth by enhancing client offerings, accelerating product development and creating new solutions across our businesses.
• Improve productivity and transform processes through automation and AI enabled workflows that compress cycle times, reduce manual work and increase operating efficiency.
• Strengthen our defensive capabilities by improving our ability to detect fraud, manage financial crime and stay ahead of cyber threats.
• Equip our talent and evolve our workforce by embedding AI tools into daily work, investing in upskilling and enabling colleagues to focus on higher value activities.
   

Returning capital to shareholders is a core element of Citi’s financial strategy and reflects its focus on deploying capital more productively. As the firm simplifies its portfolio, improves operating efficiency and strengthens capital generation, Citi is creating capacity to both invest in the business and return excess capital. 

Since 2022, we’ve returned over $40 billion of capital to shareholders, through a mix of common dividends and buybacks, with over $17 billion of capital returned in 2025 alone.

At 2026 Investor Day, Citi announced a new buyback program for $30 billion, reflecting our earnings power and our confidence in the trajectory of our business.  And we remain committed to returning capital as part of our total shareholder returns.