The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.

The bank is using Cognition's Devin AI agent to automate simple tasks for programmers, with human controls.

The megabank announced it would invest $16 million to grow its footprint in the North Carolina banking mecca.

It's early, but financial institutions are getting ready to issue the digital asset.

The Texas attorney general has accused WEX Bank of "debanking" a firearm supplier, but the Maine-based bank said it does not discriminate against any industry.

Since the end of COVID, each bank has set its own rules for how often employees need to show up at the office. Here's how a dozen lenders are handling the shift.

Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

The megabank is also updating certain policies to bar discrimination based on political affiliation. "We appreciate the concerns that are being raised regarding 'fair access' to banking services," a Citigroup executive wrote in an internal memo.

BNY, Goldman Sachs, JPMorganChase and State Street are among those scored lowest by Sinergia Animal, despite pressure from shareholder activists to stop financing companies that exploit animals.

Five years after the pandemic forced banks to switch to online annual meetings, shareholders are growing frustrated by the lack of in-person options. Some wonder if they'll ever again be in the same room as boards and management teams.

Incentive pay for investment bankers at major firms is expected to fall this year by 13% from 2021 levels, according to a consulting firm's report. But stock traders may reap the rewards of market volatility.

The bank in the past year returned to offering loans backed by the cash that investors pledge to funds.

The potential for a global trade war has largely undone the optimism that the industry exhibited at the beginning of the year. Here's a look at three ways that tariffs could negatively impact banks.

The New York megabank, which is stuck in the middle of a legal battle between climate groups and the Trump administration, had been ordered earlier this week to disburse billions of dollars in grants made during the Biden administration.

U.S. District Judge Tanya Chutkan said the Environmental Protection Agency could not suspend the previously awarded funds. The case put Citigroup in the crossfire of a legal battle between climate groups and the Trump administration.

CEO Jane Fraser said Tuesday that the bank is positioned well to handle shakiness in the global market, and is still working on its years-long overhaul.

The results helped Citigroup lift its return on tangible common equity to 9.1% in the first quarter. CEO Jane Fraser has set a target of 10%-11% by the end of next year.

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs Group and Morgan Stanley are projected to post a combined $34.8 billion haul from their trading businesses in the first quarter, the most for that period in at least seven years.

The largest U.S. banks are facing shareholder votes on a number of politically charged issues — some backed by conservative groups and others championed by organizations with a more progressive bent.