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For Immediate Release Citigroup Inc. ( NYSE : C ) July 14 , 2021 SECOND QUARTER 2021 RESULTS AND KEY METRICS CET1 Capital Ratio 11.9 % ¹ Liquidity Coverage Ratio 113 % SLR 5.9 % ¹ ROE 13.0 % ROTCE 15.2 % ² Payout Ratio 68 % ³ NET INCOME OF $ 6.2 BILLION ( $ 2.85 PER SHARE ) REVENUES OF $ 17.5 BILLION RETURNED $ 4.1 BILLION OF CAPITAL TO COMMON SHAREHOLDERS REPURCHASED 40 MILLION COMMON SHARES BOOK VALUE PER SHARE OF $ 90.86 TANGIBLE BOOK VALUE PER SHARE OF $ 77.874 New York , July 14 , 2021 - Citigroup Inc. today reported net income for the second quarter 2021 of $ 6.2 billion , or $ 2.85 per diluted share , on revenues of $ 17.5 billion . This compared to net income of $ 1.1 billion , or $ 0.38 per diluted share , on revenues of $ 19.8 billion for the second quarter 2020 . Revenues decreased 12 % from the prior - year period , primarily reflecting normalization in market activity in Fixed Income Markets within the Institutional Clients Group ( ICG ) , along with lower average card loans in Global Consumer Banking ( GCB ) , as well as the impact of lower interest rates . Net income of $ 6.2 billion increased significantly from the prior - year period driven by the lower cost of credit . Earnings per share of $ 2.85 also increased significantly from the prior - year period , reflecting the growth in net income , as well as a slight decline in shares outstanding . Percentage comparisons throughout this press release are calculated for the second quarter 2021 versus the second quarter 2020 , unless otherwise specified . citi CEO COMMENTARY Jane Fraser , Citi CEO , said , " The pace of the global recovery is exceeding earlier expectations and with it , consumer and corporate confidence is rising . We saw this across our businesses , as reflected in our performance in Investment Banking and Equities as well as markedly increased spending on our credit cards . While we have to be mindful of the unevenness in the recovery globally , we are optimistic about the momentum ahead . " During the first half the year , we returned nearly $ 7 billion in capital to our shareholders , the most that was permitted by the Federal Reserve . We ended the quarter with a Common Equity Tier One ratio of 11.9 % and we intend to continue to return our excess capital , over and above the amount we need to make strategic investments . We are making progress on our strategy refresh across our consumer and institutional businesses . Our overarching goal is to increase the returns we generate and close the gap with our peers . We have set out to modernize our bank and want to achieve nothing less than excellence in our risk and control environment , our operations and our service to clients , " Fraser concluded . 1