Citigroup Inc. has released its quarterly financial report, providing insights into the company's financial performance and business developments. The report, which should be read in conjunction with Citigroup's 2023 Form 10-K, offers a detailed look at the company's financial metrics, including non-GAAP financial measures. Citigroup emphasizes the importance of these non-GAAP measures, such as revenues and expenses excluding divestiture-related impacts, tangible common equity (TCE), return on tangible common equity (RoTCE), and tangible book value per share (TBVPS), as they believe these provide a clearer picture of the company's operational performance and allow for better comparison with peers. The report also discusses the exclusion of the FDIC special assessment and divestiture-related impacts from certain...Show More

Citigroup Inc. has released its quarterly financial report, providing insights into the company's financial performance and business developments. The report, which should be read in conjunction with Citigroup's 2023 Form 10-K, offers a detailed look at the company's financial metrics, including non-GAAP financial measures. Citigroup emphasizes the importance of these non-GAAP measures, such as revenues and expenses excluding divestiture-related impacts, tangible common equity (TCE), return on tangible common equity (RoTCE), and tangible book value per share (TBVPS), as they believe these provide a clearer picture of the company's operational performance and allow for better comparison with peers. The report also discusses the exclusion of the FDIC special assessment and divestiture-related impacts from certain financial metrics, aiming to present a more accurate representation of Citigroup's ongoing operations. Additionally, the report outlines the company's business development status, including strategic exits from certain markets as part of its All Other—Legacy Franchises segment. Citigroup's CEO regularly reviews financial information on a managed basis, excluding divestiture-related impacts, to make informed operational decisions. The company's future plans and strategic initiatives are not explicitly detailed in the provided announcement text.