Citigroup's Profitability Goals Disappoint, Share Buyback Boosts Hope

Citigroups long-term profitability goals, aiming for a return on tangible common equity between fourteen and fifteen percent by 2031, were deemed too conservative by analysts who expected more aggressive targets. The banks current full-year goal stands at ten to eleven percent, with last years actual return at eight point eight percent. Shares dropped after the announcement, but CEO Jane Fraser announced a thirty billion dollar share buyback starting next quarter. Despite the criticism, Citigroup had a strong first quarter with profits up forty-two percent and record revenue, signaling a positive momentum. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/82899e39af7d8dbd