Citigroup cut its closely watched profitability target in 2026 as it tackles rising regulatory expenses and, at the same time, announced a $20 billion share buyback program. Citigroup beat estimates for fourth-quarter profit,

The megabank reported achievements in several areas, but lowered its 2026 expectations for a profitability metric that investors have been closely watching.

The lender now expects return on tangible common equity to be between 10% and 11% by the end of next year, according to a statement. It had previously forecast the metric would be between 11% and 12% by that time.

Citigroup beat estimates for fourth-quarter profit, fueled by strength in trading and dealmaking, and announced a $20 billion buyback program as it cut a closely watched return target. Shares of the third-largest U.