Citigroup, Inc. (C) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome to Citi's first quarter 2025 earnings call. Today's call will be hosted by Jen Landis, head of Citi Investor Relations. We ask that you please hold all questions until the completion of the formal remarks, at which time you'll be given instructions for the question and answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Ms. Landis, you may begin. Thank you, operator. Good morning, and thank you all for joining our first quarter 2025 earnings call. I'm joined today by our Chief Executive Officer, Jane Fraser, and our Chief Financial Officer, Mark Mason. I'd like to remind you that today's presentation, which is available for download on our website, citigroup.com, may contain forward-looking statements, which are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these statements due to a variety of factors, including those described in our earnings materials as well as in our SEC filings. And with that, I'll turn it over to Jane. Thank you, Jen, and a very good morning to everyone. First, I'm going to discuss our first quarter results and then talk about the environment we're operating in and how we are positioning the bank for it. This morning, we reported net income of $4.1 billion and earnings per share of $1.96 with an ROTCE of 9.1%. Overall, it was a strong quarter marked by continued momentum in each of our five businesses. We maintained a disciplined approach to our expenses, which declined by 5% year over year. We delivered our third consecutive quarter of positive operating leverage for each of our five lines of business and the fourth consecutive quarter for th...