Citigroup Inc. has released its Quarterly Report for the first quarter ended March 31, 2024. The report should be read in conjunction with Citigroup’s Annual Report for the year ended December 31, 2023, and is available on Citi’s website. The report includes reclassifications of previous financial statements to align with Citi’s strategic transformation, notably the transfer of the U.K. retail banking business to Legacy Franchises within All Other (managed basis). Citigroup has also presented non-GAAP financial measures in addition to the standard GAAP metrics to provide a clearer understanding of its operational performance and to facilitate comparisons with peers. These measures exclude divestiture-related impacts and include tangible common equity (TCE), return on tangible common equity (RoTCE), and tangible...Show More

Citigroup Inc. has released its Quarterly Report for the first quarter ended March 31, 2024. The report should be read in conjunction with Citigroup’s Annual Report for the year ended December 31, 2023, and is available on Citi’s website. The report includes reclassifications of previous financial statements to align with Citi’s strategic transformation, notably the transfer of the U.K. retail banking business to Legacy Franchises within All Other (managed basis). Citigroup has also presented non-GAAP financial measures in addition to the standard GAAP metrics to provide a clearer understanding of its operational performance and to facilitate comparisons with peers. These measures exclude divestiture-related impacts and include tangible common equity (TCE), return on tangible common equity (RoTCE), and tangible book value per share (TBVPS). The report also details revenues and expenses excluding certain impacts, such as the FDIC special assessment and divestiture-related impacts, and provides insights into non-Markets net interest income. Citigroup’s CEO reviews financial information for All Other on a managed basis, excluding divestiture-related impacts, to assess the company's performance. The report also discusses material risks and uncertainties that could affect Citigroup’s business, as outlined in the 'Risk Factors' section of Citi’s 2023 Form 10-K.