Citigroup CFO Luchetti expects return above 11% this year
C•C•C•C•NEW YORK, Sept. 14 (Reuters) - Citigroup Chief Financial Officer Gonzalo Luchetti said during a conference in New York the bank expects its return on tangible common equity, known as ROTCE, to be slightly above 11% this year.
The bank will also increase the volume of stock buybacks from the $13 billion it acquired in 2025, Luchetti added.
The bank expects to accelerate around $500 million in investments through the end of the year, including increasing severance to reduce headcount in some areas and other investments to support growth, such as marketing for credit cards and wealth management.
