AI Prospecting for Citigroup

Citigroup reported a net income of $4.1 billion for Q1 2025, with revenues of $21.6 billion, a 3% increase from the previous year. The bank saw significant growth in its wealth segment, with a 24% rise in revenues, and continued its IT transformation, investing $2.4 billion in technology and retiring 130 legacy applications[3][5][1].

Citigroup announced a 23% increase in trading profits for Q1 2025, despite a 15% rise in credit costs to $2.7 billion. The bank is restructuring by exiting 14 international markets, simplifying management, and focusing on five core businesses. Net income rose 62% to $284 million, with a 9.4% RoTCE. Citi also redeemed $2 billion of Series P Preferred Stock to enhance its funding and capital structure[3][4].

Citigroup invested $2.4 billion in technology during Q1 2025, retiring 130 legacy applications and deploying AI tools, including internal chatbots and a developer tool that completed 220,000 automated code reviews. This is part of a broader IT transformation to improve efficiency and compliance, addressing past data quality issues[2].