Citigroup Inc.'s (C) decline in fourth-quarter net profit reflects higher expenses, including $1.2 billion pre-tax charge related to the sale of its AO Citibank in Russia.
Excluding the Russia-related notable item, net income was $3.59 billion or $1.81 per share.
Currently, in the premarket session, Citigroup shares are at $117.96, up 1.28 points or $1.31 percent.
The company's profit totaled $2.47 billion, or $1.19 per share, lower than $2.85 billion, or $1.34 per share reported last year.
Analysts on average had expected the company to earn $1.62 per share. Analysts' estimates typically exclude special items.
Fourth-quarter revenue stood at $19.87 billion up 2.1% from last year, driven by growth in Banking, Services, USPB and Wealth. Excluding the Russia-related notable item, revenue was up 8%.
Citigroup's end-of-period deposits were around $1.4 trillion at quarter end, up 9% versus the prior-year period. Citigroup's end-of-period loans were $752 billion at quarter end, up 8% versus the prior-year period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.