JPMorgan Backs Citigroup (C) as Russia Sale Lifts Capital Ratio

Citigroup Inc. (NYSE:C) is included among the 20 Best Performing Dividend Stocks in 2025.

JPMorgan Backs Citigroup (C) as Russia Sale Lifts Capital Ratio

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On December 30, JPMorgan kept an Overweight rating on Citigroup Inc. after the bank said it plans to sell its remaining operations in Russia. The company expects to take a pre-tax loss of $1.2 billion in the fourth quarter, tied to the exit. Even so, JPMorgan sees a modest lift to Citi’s capital ratio once the sale is complete, driven by a reduction in risk-weighted assets. For regulatory capital purposes, Russia carries the highest country risk classification of seven, the analyst noted in a research report.

Recent performance at Citi has been stronger than many investors expected. In the third quarter of 2025, revenue rose 9% from a year earlier. Earnings came in at $1.86 per share, up from $1.51 in the same quarter of 2024.

Adjusting for one-time items linked to an asset divestiture, earnings would have been $2.24 per share. That adjustment makes the year-over-year improvement stand out even more. Return on average tangible common equity also moved higher, climbing by a full percentage point from the prior year.

Citigroup Inc. operates as a global financial services firm, offering banking, credit, investment, and wealth management services to individuals, businesses, governments, and institutions around the world.

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