Citigroup detailed a new growth strategy following a multi-year restructuring. CEO Jane Fraser announced a $30 billion multi-year share buyback program. The bank's shares rose 2.4% following the announcement.
The firm raised its 2027 and 2028 adjusted return on tangible common equity (ROTCE) target to 11%–13%. This goal increases the previous annual target of 10% to 11%.
Citigroup set a longer-term ROTCE target of 14% to 15% for 2029 through 2031. Fraser stated the bank will achieve these targets through organic growth.