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# Citigroup lifts full-year ROTCE guidance above 11%, details $30 billion buyback
- URL: https://www.theglobalbanker.com/citigroup-rotce-guidance-above-11-percent-30-billion-buyback/
- Published: 2026-09-14T18:27:00.000Z
- Updated: 2026-10-02T01:12:35.000Z
- Description: Citigroup CFO Gonzalo Luchetti raised full-year ROTCE guidance above 11% at Barclays' conference and gave an update on its $30 billion buyback.
- Author: TGB Editorial Team
- Tags: Banking News, Americas

Citigroup chief financial officer Gonzalo Luchetti told the Barclays 24th Annual Global Financial Services Conference on Monday that the bank now expects full-year 2026 return on tangible common equity to exceed 11%, above its prior guidance range of 10% to 11%.

He also said Citigroup had completed its prior $20 billion buyback programme and was executing the $30 billion programme announced earlier in 2026\. Luchetti said Citigroup repurchased $10.3 billion of stock in the first half of 2026 and expects full-year buybacks to exceed the approximately $13 billion repurchased in 2025.

#### BANAMEX STAKE CONTINUES TO SHRINK

Luchetti confirmed that Citigroup's ownership of Mexican unit Banamex has fallen to 51%, with deconsolidation expected in early 2027\. He said Citigroup does not expect further Banamex transactions before year-end and expects deconsolidation once its ownership falls below 50%.

The CFO also addressed the bank's cost base, saying Citigroup expects its 2026 efficiency ratio to come in slightly better than 60%. He noted that stranded costs, a legacy of the bank's ongoing restructuring, have been reduced from $1.3 billion annually to about $200 million per quarter.

#### RETURN TARGETS

Luchetti said Citigroup targets return on tangible common equity of 11% to 13% for 2027 and 2028, with a longer-term objective of 14% to 15%.

The scale of the $30 billion buyback authorisation, alongside first-half repurchases of $10.3 billion and an expectation that full-year 2026 buybacks will exceed the roughly $13 billion executed in 2025, follows the completion of its prior $20 billion programme. The $30 billion programme was unveiled at Citigroup's investor day in May 2026.