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For Immediate Release Citigroup Inc. ( NYSE : C ) April 15 , 2021 FIRST QUARTER 2021 RESULTS AND KEY METRICS citi CEO COMMENTARY CET1 Capital Liquidity ROE Coverage SLR 17.2 % Ratio Ratio 7.0 % ¹ ROTCE Payout Ratio 35 % 3 11.7 % ¹ 115 % 20.1 % 2 NET INCOME OF $ 7.9 BILLION ( $ 3.62 PER SHARE ) REVENUES OF $ 19.3 BILLION RETURNED $ 2.7 BILLION OF CAPITAL TO COMMON SHAREHOLDERS REPURCHASED 23 MILLION COMMON SHARES BOOK VALUE PER SHARE OF $ 88.18 TANGIBLE BOOK VALUE PER SHARE OF $ 75.504 New York , April 15 , 2021 - Citigroup Inc. today reported net income for the first quarter 2021 of $ 7.9 billion , or $ 3.62 per diluted share , on revenues of $ 19.3 billion . This compared to net income of $ 2.5 billion , or $ 1.06 per diluted share , on revenues of $ 20.7 billion for the first quarter 2020 . Revenues decreased 7 % from the prior - year period , as higher revenues in Investment Banking and Equity Markets were more than offset by lower rates , the absence of prior year mark - to - market gains on loan hedges within the Institutional Clients Group ( ICG ) , and lower card volumes in Global Consumer Banking ( GCB ) . Net income of $ 7.9 billion increased significantly from the prior - year period driven by the lower cost of credit . Earnings per share of $ 3.62 increased significantly from the prior - year period , reflecting the increase in net income , as well as a slight decline in shares outstanding . Percentage comparisons throughout this press release are calculated for the first quarter 2021 versus the first quarter 2020 , unless otherwise specified . Jane Fraser , Citi CEO , said , " It's been a better than expected start to the year , and we are optimistic about the macro environment . We are committed to serving our clients through the recovery and positioning the bank for a period of sustained growth . our " We reported record net income driven by strong performance in Institutional Clients Group and a significant release from our Allowance for Credit Losses , as a result of the improving economic outlook . While Global Consumer Banking revenues were down quarter - over - quarter as a result of the pandemic , this is the healthiest we have seen the consumer emerge from a crisis in recent history . " Our capital levels remained strong and stable , allowing us to respond to the needs of our clients and return capital to our shareholders . At 11.7 % , our Common Equity Tier One Ratio was unchanged from the fourth quarter and we resumed the repurchase of common stock , which we had voluntarily paused at the onset of the pandemic . 1