Citigroup's 2025 Revenues to Cross $84B: What's Driving the Momentum?

Citigroup, Inc. C is on track to surpass $84 billion in total revenues for 2025, underscoring renewed strength and progress in CEO Jane Fraser’s comprehensive transformation plan and rising net interest income (NII) and non-interest revenues. The bank reported 9% year-over-year revenue growth in the third quarter of 2025 and a 7% rise in the first nine months.

Citigroup is progressing well with its multi-year effort to simplify its structure, exit non-core markets, and boost efficiency. In line with this, the company continues to refine its global footprint and sharpen its focus on core businesses.

In September 2025, Citigroup reached a milestone with the agreement to sell a 25% stake in Banamex to Mexican business leader Fernando Chico Pardo, advancing its goal of fully divesting and deconsolidating the Mexican unit. Meanwhile, the bank has revamped its operating model and leadership structure, cutting bureaucracy and complexity while enhancing speed and accountability.

To further strengthen its competitive edge, C is integrating artificial intelligence (AI) and automation into its operations to streamline workflows and improve risk management. Further, it is expanding in private markets and wealth management through targeted partnerships that boost revenue diversity and client engagement.

Moreover, stabilizing funding costs and modest loan growth will continue to aid Citigroup’s NII expansion, while solid capital markets business will continue to drive fee income in the upcoming period. 

Together, strategic business restructuring efforts, along with the rise in NII and fee income, will keep supporting Citigroup’s revenue growth momentum.

How Are Other Banks Performing in Terms of Revenues

U.S. Bancorp USB: The company reported record net revenues of $7.33 billion, growing 6.8% year over year in the third quarter of 2025. Over the first nine months, net revenues grew 4.1%. The rise was driven by strength in fee income and NII.

U.S. Bancorp’s growth in NII and fee income, coupled with improved efficiency, will continue to support top-line growth. U.S. Bancorp expects total net revenues for 2025 to rise 3-5% from the $27.6 billion in 2024.

PNC Financial PNC: In the third quarter of 2025, the company reported record total revenues of $5.91 billion, up 8.9% year over year. The metric was up 6.5% year over year in the first nine months of 2025. The increase was driven by growth in both non-interest income and NII.

Looking forward, PNC Financial's rising NII and fee income, along with the pending acquisition of FirstBank Holding Company (to expand in Colorado and Arizona), will drive growth. PNC Financial’s management expects 2025 revenues to rise 6% from the $21.6 billion in 2024.

C’s Price Performance, Valuation & Estimates

Shares of Citigroup have gained 42.6% year to date compared with the industry’s growth of 28.8%. 

Price Performance

From a valuation standpoint, C trades at a forward price-to-earnings (P/E) ratio of 10.41X, below the industry’s average of 14.38X.

Price-to-Earnings F12M

The Zacks Consensus Estimate for C’s 2025 and 2026 earnings implies year-over-year rallies of 27.2% and 30.1%, respectively. The estimates for 2025 and 2026 have been revised upward over the past seven days.

Estimate Revision Trend

Citigroup currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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