The Institutional Risk Analyst

Citi has grown corporate loans 10% to $330 million at the end of Q2 2025. In fact, Citi increased its full-year net interest income guidance and raised its revenue forecast to the high end of its previous range. Citi saw assets and NII grow in 2025, but efficiency remained in the low 60s, a tangible indication that Fraser is making progress.

Citi seems to be tracking the group now, whereas pre-COVID the stock significantly underperformed in terms of market beta. But performance?

If Fraser cannot articulate a coherent reason to keep the business together, a breakup may be the most sensible strategy.