How Does Citigroup Make its Money?
Citigroup is a global financial services company operating in over 160 countries and jurisdictions. The bank provides a range of financial products and services including consumer banking, corporate and investment banking, and wealth management. Under CEO Jane Fraser, Citigroup has been executing a major simplification strategy — exiting consumer banking in multiple international markets to refocus on institutional clients and US personal banking.
Citigroup (C) Business Model
Citigroup operates in the banking sector. Below is a summary of Citigroup’s revenue streams, how the company generates income, and the key financial metrics from its most recent annual report. This breakdown uses data from Citigroup’s 2024 fiscal year filings with the SEC.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Citigroup Competitors
Citigroup’s key competitors and comparable public companies in the banking sector include JPMorgan Chase, Bank of America, Wells Fargo, and Goldman Sachs. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Citigroup stacks up by comparing their revenue breakdown, margins, and growth metrics.
Revenue Breakdown
| Segment | 2024 | 2023 | YoY Growth |
|---|---|---|---|
| Services (Treasury & Trade, Securities Services) | $19,700 | $18,200 | +8.2% |
| Markets (Fixed Income & Equities Trading) | $20,500 | $18,700 | +9.6% |
| Banking (Advisory, Lending, Capital Markets) | $6,200 | $4,900 | +26.5% |
| US Personal Banking | $21,200 | $20,400 | +3.9% |
| Wealth Management | $7,700 | $6,900 | +11.6% |
| Total Revenue | $81,100 | $78,500 | +3.3% |
Services (Treasury & Trade, Securities Services) — 24% of Revenue
Markets (Fixed Income & Equities Trading) — 25% of Revenue
Banking (Advisory, Lending, Capital Markets) — 8% of Revenue
US Personal Banking — 26% of Revenue
Wealth Management — 9% of Revenue
Income Statement Overview
| Metric | 2024 | 2023 |
|---|---|---|
| Total Revenue | $81,100 | $78,500 |
| Cost of Revenue | $11,200 | $12,400 |
| Gross Profit | $69,900 | $66,100 |
| Operating Expenses | $56,400 | $56,100 |
| Operating Income | $13,500 | $10,000 |
| Net Income | $12,700 | $9,200 |
All values in millions USD unless otherwise stated.
Key Financial Metrics
- Gross Margin: 86.2%
- Operating Margin: 16.6%
- Revenue Growth: 3.3%
Is Citigroup Profitable?
Yes, Citigroup is profitable. The company reported net income of $12,700 on total revenue of $81,100. With an operating margin of 16.6%, Citigroup demonstrates solid profitability for the banking sector. The gross margin of 86.2% reflects Citigroup’s pricing power and cost structure.
What to Watch
- Execution of the organizational simplification strategy eliminating management layers
- Progress on international consumer banking exits and refocusing on institutional clients
- Whether the bank can close the valuation gap with peers like JPMorgan
- Growth in the Services segment, particularly Treasury and Trade Solutions
Citigroup (C) Financial Summary
Citigroup (C) is a banking company that generated $81,100 in total revenue in fiscal year 2024. Revenue grew 3.3% year-over-year. The company earned $12,700 in net income, making it profitable. For a deeper look at Citigroup’s revenue breakdown, business segments, and financial performance, review the detailed analysis above.