Citigroup, Inc. (C) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Citi's second quarter 2026 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 will 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 second quarter 2026 earnings call. I'm joined today by our chair and chief executive officer, Jane Fraser, and our chief financial officer, Gonzalo Lucchetti. 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 good morning to everyone. Our momentum continued, and the second quarter capped a very good first half of the year. This morning, we reported net income of $5.8 billion for the second quarter, with an EPS of $3.15 and an ROTCE of 13%. This was Citi's best quarterly revenue in a decade, which we delivered with over 9% positive operating leverage. Once again, we saw double-digit revenue growth for the firm and in four of our five businesses. We improved our ROTCE for the firm by 430 basis points and had significant improvement in the returns of every single business. The combination of our investments discipl...