Citi rolls back profit target halfway through CEO Jane Fraser’s revamp

Citigroup Inc. said it will buy back $20 billion of its stock in the coming years — freeing up billions in excess capital the bank had kept on hand to meet a key shareholder request.

The announcement was part of the bank’s stronger than expected results for the fourth quarter, where revenue increased across all five main business areas. The lender said it now expects revenue to rise to $83.5 billion to $84.5 billion in 2025, higher than analysts had expected.