Good morning. Citi’s fourth-quarter 2025 results marked a profitable close to 2025 and a turning point in its leadership, as longtime CFO Mark Mason prepares to hand the reins to his successor amid solid earnings and an ongoing restructuring.
The bank reported Q4 net income of $2.5 billion, or $1.19 per diluted share, on $19.9 billion of revenue, down from $2.9 billion, or $1.34 per share, on $19.5 billion a year earlier. On a reported basis (including a Russia-related notable item), EPS of $1.19 and revenue of $19.9 billion topped FactSet estimates of $1.02 and $19.6 billion. On an adjusted basis (excluding the notable item), EPS was $1.81 on $21.0 billion of revenue, ahead of consensus EPS of $1.65 and revenue of $20.9 billion.
“We ended the year in a position of strength, having executed against our strategic priorities,” Citi CFO Mark Mason said Wednesday morning in his final quarterly media call as finance chief. The bank announced in November that he would step down in early March. Mason, who joined Citi in 2001 and became CFO in 2019, takes over as executive vice chairman and senior executive advisor to chairwoman and CEO Jane Fraser, while Gonzalo Luchetti, head of U.S. personal banking, will succeed him as CFO. I previously reported that his long-term ambition is to become a CEO, according to people familiar with the matter.
