Citigroup initiated a major transformation plan in 2024 in an effort to unlock value and drive higher returns. Management backed that initiative up by announcing a new $20 billion stock buyback program.

Citigroup Inc. said it will repurchase $20 billion worth of its stock in the coming years — unleashing billions of excess capital the bank had been keeping on hand in order to meet a key ask from shareholders.

Citigroup stock is soaring Wednesday after the big bank topped earnings expectations and unveiled a massive stock buyback program. Here's why that's important.

Citigroup swung to a profit in the fourth quarter, fueled by strength in trading and a recovery in dealmaking that drove up investment banking fees. Trading desks at the banks benefited from a banner year in U.

Citigroup on Wednesday reported stronger-than-expected fourth-quarter profit and revenue, while authorizing a $20 billion share buyback program, sending its shares by more than 2% before the bell. The bank posted a net income of $2.