Summary by Moomoo AI
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