Citigroup, Inc. (C) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome to Citi's third quarter 2025 earnings call. Today's call will be hosted by Jen Landis, head of the 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 third 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, citygroup.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 filing. And with that, I'll turn it over to Jane. Thank you, Jen, and a very good morning to everyone. This morning, we reported another very good quarter, with net income of $3.8 billion and earnings per share of $1.86. with an ROTCE of 8%. Now, excluding the goodwill impairment from the Banamex transaction, our adjusted EPS was $2.24, with an adjusted ROTCE of 9.7%. Revenues were up 9%, and every business had record third-quarter revenue and improved returns. We continue to generate positive operating leverage for the firm and in each of our five businesses. The consistently strong results that we've been delivering are a consequence of how we have fundamentally changed the bank in recen...