1) Strong Financial Performance
- Citi reported a net income of $5.8 billion for Q2 2026, with an EPS of $3.15 and an ROTCE of 13%.
- The firm achieved its best quarterly revenue in a decade, with a 14% YoY increase in total revenues to $24.8 billion.
- Positive operating leverage of over 9% was noted, with improvements across all business segments.

2) Segment Highlights and Growth
- Services: Achieved record quarterly revenue with an ROTCE over 30%, driven by a 19% increase in deposits and a 13% rise in cross-border transactions.
- Markets: Revenues increased by 17%, with equities up over 40% and fixed income showing a 7% growth.
- Banking: Revenues surged 34%, with investment banking up 44%, benefiting from a robust IPO market.
- Wealth: Increased revenues for the 9th consecutive quarter, up 13%, with client investment assets growing by 14%.
- US Consumer Cards: Revenues grew 1%, impacted by higher expenses from investments and acquisitions.

3) Strategic Investments and Operational Plans
- Citi plans to increase its dividend by 12% and has initiated a $30 billion stock repurchase program, having bought back $4 billion in Q2.
- The firm is investing in AI and technology to enhance productivity and client experience, with nearly 90% of employees utilizing AI tools.
- Continued focus on integrating retail branches into wealth management is yielding positive results, with a 23% increase in referrals to Citigold.

4) Market Conditions and Guidance
- The macroeconomic environment remains complex, with geopolitical tensions affecting global growth. However, corporate clients show resilience.
- Guidance for the full year ROTCE is maintained at 10-11%, with expectations of NII growth of 5-6% and continued momentum in services and banking.
- The firm anticipates a seasonal decline in market revenues, traditionally around 20% in the second half, but remains optimistic about leveraging strong client engagement.

5) Leadership Transition and Future Outlook
- Jennifer Landis is transitioning from her role as Head of Investor Relations to CFO for Markets, with Margot Pillich stepping in as the new Head of Investor Relations.
- The call did not provide specific figures regarding the expected impact of severance expenses in the second half, leaving some uncertainty about future cost management.

Bottom line: Citi's strong Q2 performance reflects robust growth across its business segments, strategic investments in technology and client relationships, and a commitment to returning capital to shareholders, positioning the firm well for future growth despite macroeconomic challenges.