LOANS (Tables)

9 Months Ended

Sep. 30, 2025

Corporate loans

Financing Receivable, Credit Quality Indicator [Line Items]

Schedule of corporate loans by type

The following table presents information by corporate loan type:

In millions of dollars	September 30, 2025		December 31, 2024
In North America offices(1)
Commercial and industrial	$	59,062	$	57,730
Financial institutions	65,116		41,815
Mortgage and real estate(2)	17,885		18,411
Installment and other(3)	22,824		25,529
Lease financing	129		235
Total	$	165,016	$	143,720
In offices outside North America(1)
Commercial and industrial	$	96,624	$	92,856
Financial institutions	26,694		27,276
Mortgage and real estate(2)	9,746		8,136
Installment and other(3)	32,349		25,800
Lease financing	44		40
Governments and official institutions	4,751		3,630
Total	$	170,208	$	157,738
Corporate loans, net of unearned income, excluding portfolio-layer hedges cumulative basis adjustments(4)(5)(6)	$	335,224	$	301,458
Unallocated portfolio-layer hedges cumulative basis adjustments(7)	$	53	$	(72)
Corporate loans, net of unearned income(4)(5)(6)	$	335,277	$	301,386

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America. The classification between offices in North America and outside North America is based on the domicile of the booking unit. The difference between the domicile of the booking unit and the risk-based country view is not material for the purposes of classification of corporate loans between offices in North America and outside North America.

(2)Loans secured primarily by real estate.

(3)Installment and other includes loans to SPEs and TTS commercial cards.

(4)Corporate loans are net of unearned income of $(1,050) million and $(969) million at September 30, 2025 and December 31, 2024,

respectively. Unearned income on corporate loans primarily represents loan origination fees, net of certain direct origination costs, that are deferred and recognized as Interest income over the lives of the related loans.

(5)Not included in the balances above is approximately $2 billion of accrued interest receivable at September 30, 2025 and December 31, 2024, which is included in Other assets on the Consolidated Balance Sheet.

(6)Accrued interest receivable considered to be uncollectible is reversed through interest income. Amounts reversed were not material for the three and nine months ended September 30, 2025 and 2024.

(7)Represents fair value hedge basis adjustments related to portfolio-layer method hedges of mortgage and real estate loans, which are not allocated to individual loans in the portfolio. See Note 22.

Schedule of loan delinquency and non-accrual details by type

Corporate Loan Delinquencies and Non-Accrual Details at September 30, 2025

In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	191	$	38	$	229	$	903	$	151,982	$	153,114
Financial institutions	2		—		2		77		90,061		90,140
Mortgage and real estate	111		160		271		924		26,356		27,551
Lease financing	—		1		1		—		172		173
Other	33		17		50		167		56,159		56,376
Loans at fair value	N/A		N/A		N/A		N/A		N/A		7,870
Total(5)	$	337	$	216	$	553	$	2,071	$	324,730	$	335,224

Corporate Loan Delinquencies and Non-Accrual Details at December 31, 2024

In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	183	$	35	$	218	$	542	$	147,914	$	148,674
Financial institutions	8		—		8		73		68,297		68,378
Mortgage and real estate	6		2		8		567		25,971		26,546
Lease financing	—		1		1		—		275		276
Other	62		16		78		195		49,552		49,825
Loans at fair value	N/A		N/A		N/A		N/A		N/A		7,759
Total(5)	$	259	$	54	$	313	$	1,377	$	292,009	$	301,458

(1)Corporate loans that are 90 days or more past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.

(2)Non-accrual loans generally include those loans that are 90 days or more past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectibility of the loan in full, that the payment of interest and/or principal is doubtful.

(3)Loans less than 30 days past due are presented as current.

(4)The Total loans column includes loans at fair value, which are not included in the various delinquency columns and, therefore, the tables’ total rows will not cross-foot.

(5)Excludes $53 million and $(72) million of unallocated portfolio-layer hedges cumulative basis adjustments at September 30, 2025 and December 31, 2024, respectively.

N/A Not applicable

Non-Accrual Corporate Loans

	September 30, 2025				December 31, 2024
In millions of dollars	Recorded investment(1)(2)		Related specific allowance		Recorded investment(1)(2)		Related specific allowance
Non-accrual corporate loans with specific allowances
Commercial and industrial	$	486	$	123	$	199	$	86
Financial institutions	—		—		—		—
Mortgage and real estate	417		29		276		42
Other	31		75		185		174
Total non-accrual corporate loans with specific allowances	$	934	$	227	$	660	$	302
Non-accrual corporate loans without specific allowances
Commercial and industrial	$	417			$	343
Financial institutions	77				73
Mortgage and real estate	507				291
Lease financing	—				—
Other	136				10
Total non-accrual corporate loans without specific allowances	$	1,137	N/A		$	717	N/A

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)Interest income recognized for the three and nine months ended September 30, 2025 was $3 million and $17 million, and for the three and nine months ended September 30, 2024 was $28 million and $58 million, respectively.

N/A Not applicable

Schedule of loans credit quality indicators

Corporate Loan Credit Quality Indicators

	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		September 30, 2025
In millions of dollars	2025		2024		2023		2022		2021		Prior
Investment grade(3)
Commercial and industrial(4)	$	36,056	$	10,143	$	6,083	$	4,389	$	1,780	$	4,292	$	29,446	$	92,189
Financial institutions(4)	20,658		5,912		2,311		1,375		546		2,074		46,114		78,990
Mortgage and real estate	3,760		4,942		3,635		2,431		1,678		1,960		418		18,824
Other(5)	11,970		4,052		2,591		2,631		628		2,461		25,755		50,088
Total investment grade	$	72,444	$	25,049	$	14,620	$	10,826	$	4,632	$	10,787	$	101,733	$	240,091
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	24,142	$	5,546	$	3,925	$	2,418	$	762	$	2,573	$	20,656	$	60,022
Financial institutions(4)	3,475		1,377		791		130		432		205		4,663		11,073
Mortgage and real estate	760		901		1,482		1,317		1,091		1,681		571		7,803
Other(5)	2,051		916		593		214		115		381		2,024		6,294
Non-accrual
Commercial and industrial(4)	72		35		98		54		44		59		541		903
Financial institutions	8		—		—		—		45		—		24		77
Mortgage and real estate	33		10		46		237		203		328		67		924
Other(5)	43		15		20		—		63		5		21		167
Total non-investment grade	$	30,584	$	8,800	$	6,955	$	4,370	$	2,755	$	5,232	$	28,567	$	87,263
Loans at fair value(6)															$	7,870
Corporate loans, net of unearned income(7)	$	103,028	$	33,849	$	21,575	$	15,196	$	7,387	$	16,019	$	130,300	$	335,224

	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		December 31, 2024
In millions of dollars	2024		2023		2022		2021		2020		Prior
Investment grade(3)
Commercial and industrial(4)	$	36,039	$	8,101	$	5,035	$	2,492	$	1,225	$	4,853	$	32,862	$	90,607
Financial institutions(4)	13,074		2,136		1,162		326		265		1,500		41,415		59,878
Mortgage and real estate	5,325		3,927		3,269		2,537		1,460		1,533		248		18,299
Other(5)	5,773		2,643		4,036		822		1,156		5,578		24,623		44,631
Total investment grade	$	60,211	$	16,807	$	13,502	$	6,177	$	4,106	$	13,464	$	99,148	$	213,415
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	24,937	$	5,082	$	3,576	$	1,583	$	318	$	2,560	$	19,468	$	57,524
Financial institutions(4)	4,103		529		255		655		41		355		2,489		8,427
Mortgage and real estate	801		1,112		1,936		1,400		770		1,190		472		7,681
Other(5)	1,227		592		427		261		190		274		2,304		5,275
Non-accrual
Commercial and industrial	43		78		48		17		7		44		305		542
Financial institutions(4)	—		—		—		55		—		—		18		73
Mortgage and real estate	16		2		104		107		28		279		31		567
Other(5)	1		—		1		18		—		19		156		195
Total non-investment grade	$	31,128	$	7,395	$	6,347	$	4,096	$	1,354	$	4,721	$	25,243	$	80,284
Loans at fair value(6)															$	7,759
Corporate loans, net of unearned income(7)	$	91,339	$	24,201	$	19,849	$	10,274	$	5,460	$	18,185	$	124,391	$	301,458

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)There were no significant revolving line of credit arrangements that converted to term loans during the period.

(3)Held-for-investment loans are accounted for on an amortized cost basis.

(4)Includes certain short-term loans with less than one year in tenor.

(5)Other includes installment and other, lease financing and loans to governments and official institutions.

(6)Loans at fair value include loans to commercial and industrial, financial institutions, mortgage and real estate and other.

(7)Excludes $53 million and $(72) million of unallocated portfolio-layer hedges cumulative basis adjustments at September 30, 2025 and December 31, 2024, respectively.

The table below details gross credit losses recognized during the nine months ended September 30, 2025, by year of loan origination:

	For the Nine Months Ended September 30, 2025
In millions of dollars	2025		2024		2023		2022		2021		Prior		Revolving line of credit arrangement		Total
Commercial and industrial	$	12	$	4	$	—	$	—	$	—	$	6	$	97	$	119
Financial institutions	—		—		—		—		—		—		9		9
Mortgage and real estate	—		—		—		—		—		9		7		16
Other(1)	6		—		141		—		62		2		21		232
Total	$	18	$	4	$	141	$	—	$	62	$	17	$	134	$	376

The table below details gross credit losses recognized during the nine months ended September 30, 2024, by year of loan origination:

	For the Nine Months Ended September 30, 2024
In millions of dollars	2024		2023		2022		2021		2020		Prior		Revolving line of credit arrangement		Total
Commercial and industrial	$	10	$	2	$	3	$	9	$	4	$	15	$	167	$	210
Financial institutions	—		—		—		—		—		1		9		10
Mortgage and real estate	1		37		11		—		—		84		22		155
Other(1)	—		—		—		—		—		16		29		45
Total	$	11	$	39	$	14	$	9	$	4	$	116	$	227	$	420

(1)    Other includes installment and other, lease financing and loans to governments and official institutions.

Loan modifications to borrowers experiencing financial difficulty

The following tables detail corporate loan modifications granted during the three

and nine months ended September 30, 2025 and 2024 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications. Citi defines a corporate loan modification to a borrower experiencing financial difficulty as a modification of a loan classified as substandard or worse at the time of modification.

	For the Three and Nine Months Ended September 30, 2025
In millions of dollars, except weighted-average term extension	Total modifications balance at September 30, 2025(1)(2)(3)		Term extension		Combination: Term extension and payment delay(4)		Weighted-average term extension (months)
Three Months Ended September 30, 2025
Commercial and industrial	$	76	$	76	$	—	12
Financial institutions	—		—		—		—
Mortgage and real estate	—		—		—		—
Other(5)	—		—		—		—
Total	$	76	$	76	$	—
Nine Months Ended September 30, 2025
Commercial and industrial	$	141	$	141	$	—	10
Financial institutions	—		—		—		—
Mortgage and real estate	—		—		—		—
Other(5)	—		—		—		—
Total	$	141	$	141	$	—

	For the Three and Nine Months Ended September 30, 2024
In millions of dollars, except weighted-average term extension	Total modifications balance at September 30, 2024(1)(2)(3)		Term extension		Combination: Term extension and payment delay(4)		Weighted-average term extension (months)
Three Months Ended September 30, 2024
Commercial and industrial	$	4	$	4	$	—	6
Financial institutions	—		—		—		—
Mortgage and real estate	49		49		—		6
Other(5)	—		—		—		—
Total	$	53	$	53	$	—
Nine Months Ended September 30, 2024
Commercial and industrial	$	107	$	107	$	—	11
Financial institutions	—		—		—		—
Mortgage and real estate	130		130		—		7
Other(5)	—		—		—		—
Total	$	237	$	237	$	—

(1)The above table reflects activity for loans outstanding as of the end of the reporting period. The balances are not significant as a percentage of the total carrying values of loans by class of receivable as of September 30, 2025 and 2024.

(2)Commitments to lend to borrowers experiencing financial difficulty that were granted modifications totaled $105 million and $924 million as of September 30, 2025 and 2024, respectively.

(3)The allowance for corporate loans, including modified loans, is based on the borrower’s overall financial performance. Charge-offs for amounts deemed uncollectible may be recorded at the time of the modification or may have already been recorded in prior periods such that no charge-off is required at the time of modification.

(4)Payment delays either for principal or interest payments had an immaterial financial impact.

(5)Other includes installment and other, lease financing and loans to governments and official institutions.

The following tables present the delinquencies of modified corporate loans to borrowers experiencing financial difficulty. It includes loans that were modified during the 12 months ended September 30, 2025 and December 31, 2024:

	As of September 30, 2025(1)
In millions of dollars	Total		Current		30–89 days past due		90+ days past due
Commercial and industrial	$	251	$	250	$	1	$	—
Financial institutions	—		—		—		—
Mortgage and real estate	14		14		—		—
Other(2)	—		—		—		—
Total	$	265	$	264	$	1	$	—

	As of December 31, 2024(1)
In millions of dollars	Total		Current		30–89 days past due		90+ days past due
Commercial and industrial	$	251	$	251	$	—	$	—
Financial institutions	—		—		—		—
Mortgage and real estate	105		105		—		—
Other(2)	—		—		—		—
Total	$	356	$	356	$	—	$	—

(1)Corporate loans are generally not modified as a result of their delinquency status; rather, they are modified because of events that have impacted the overall financial performance of the borrower. Corporate loans, if past due, are re-aged to current status upon modification.

(2)Other includes installment and other, lease financing and loans to governments and official institutions.

Consumer loans

Financing Receivable, Credit Quality Indicator [Line Items]

Schedule of loan delinquency and non-accrual details by type

The following tables provide Citi’s consumer loans by type:

Consumer Loans, Delinquencies and Non-Accrual Status at September 30, 2025

In millions of dollars	Total current(1)(2)		30–89  days past  due(3)		≥ 90 days past  due(3)		Past due government guaranteed(4)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days  past due and accruing
In North America offices(5)
Residential first mortgages(6)	$	116,633	$	413	$	548	$	205	$	117,799	$	134	$	589	$	723	$	110
Home equity loans(7)(8)	2,848		28		40		—		2,916		22		89		111		—
Credit cards	162,786		2,283		2,377		—		167,446		—		—		—		2,377
Personal, small business and other(9)	32,308		95		31		—		32,434		5		167		172		—
Total	$	314,575	$	2,819	$	2,996	$	205	$	320,595	$	161	$	845	$	1,006	$	2,487
In offices outside North America(5)
Residential mortgages(6)	$	23,959	$	46	$	73	$	—	$	24,078	$	—	$	177	$	177	$	—
Credit cards	13,230		238		286		—		13,754		—		283		283		91
Personal, small business and other(9)	39,450		119		40		—		39,609		—		141		141		—
Total	$	76,639	$	403	$	399	$	—	$	77,441	$	—	$	601	$	601	$	91
Total excluding portfolio-layer hedges cumulative basis adjustments	$	391,214	$	3,222	$	3,395	$	205	$	398,036	$	161	$	1,446	$	1,607	$	2,578
Unallocated portfolio-layer hedges cumulative basis adjustments(10)									$	592
Total Citigroup(11)(12)									$	398,628

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 2024

In millions of dollars	Total current(1)(2)		30–89  days past due(3)		≥ 90 days past  due(3)		Past due government guaranteed(4)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days  past due and accruing
In North America offices(5)
Residential first mortgages(6)	$	113,613	$	397	$	349	$	234	$	114,593	$	114	$	409	$	523	$	128
Home equity loans(7)(8)	3,060		23		58		—		3,141		25		114		139		—
Credit cards	166,021		2,333		2,705		—		171,059		—		—		—		2,705
Personal, small business and other(9)	33,010		94		50		1		33,155		7		154		161		2
Total	$	315,704	$	2,847	$	3,162	$	235	$	321,948	$	146	$	677	$	823	$	2,835
In offices outside North America(5)
Residential mortgages(6)	$	24,358	$	38	$	60	$	—	$	24,456	$	—	$	155	$	155	$	—
Credit cards	12,523		190		214		—		12,927		—		211		211		72
Personal, small business and other(9)	33,859		100		36		—		33,995		—		121		121		—
Total	$	70,740	$	328	$	310	$	—	$	71,378	$	—	$	487	$	487	$	72
Total excluding portfolio-layer hedges cumulative basis adjustments	$	386,444	$	3,175	$	3,472	$	235	$	393,326	$	146	$	1,164	$	1,310	$	2,907
Unallocated portfolio-layer hedges cumulative basis adjustments(10)									$	(224)
Total Citigroup(11)(12)									$	393,102

(1)Loans less than 30 days past due are presented as current.

(2)Includes $26 million and $281 million at September 30, 2025 and December 31, 2024, respectively, of residential first mortgages recorded at fair value.

(3)Excludes loans guaranteed by U.S. government-sponsored agencies. Excludes delinquencies on $25.2 billion and $21.6 billion of classifiably managed Private Bank loans in North America and outside North America, respectively, at September 30, 2025. Excludes delinquencies on $25.9 billion and $17.6 billion of classifiably managed Private Bank loans in North America and outside North America, respectively, at December 31, 2024.

(4)Consists of loans that are guaranteed by U.S. government-sponsored agencies that are 30–89 days past due of $0.1 billion and $0.1 billion and 90 days or more past due of $0.1 billion and $0.1 billion at September 30, 2025 and December 31, 2024, respectively.

(5)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(6)Includes approximately $0.1 billion and less than $0.1 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $18.7 billion of residential mortgages outside North America related to Wealth at September 30, 2025. Includes approximately $0.2 billion and less than $0.1 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $19.1 billion of residential mortgages outside North America related to Wealth at December 31, 2024.

(7)Includes less than $0.1 billion and less than $0.1 billion at September 30, 2025 and December 31, 2024, respectively, of home equity loans in process of foreclosure.

(8)Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(9)As of September 30, 2025, Wealth in North America includes $27.4 billion of loans, of which $25.2 billion are classifiably managed with 80% rated investment grade, and Wealth outside North America includes $30.0 billion of loans, of which $21.6 billion are classifiably managed with 54% rated investment grade. As of December 31, 2024, Wealth in North America includes $28.1 billion of loans, of which $25.9 billion are classifiably managed with 83% rated investment grade, and Wealth outside North America includes $25.4 billion of loans, of which $17.6 billion are classifiably managed with 56% rated investment grade. Such loans are presented as “current” above.

(10)Represents fair value hedge basis adjustments related to portfolio-layer method hedges of mortgage and real estate loans, which are not allocated to individual loans in the portfolio. See Note 22.

(11)Consumer loans were net of unearned income of $939 million and $889 million at September 30, 2025 and December 31, 2024, respectively. Unearned income on consumer loans primarily represents loan origination fees, net of certain direct origination costs, that are deferred and recognized as Interest income over the lives of the related loans.

(12)Not included in the balances above is approximately $1 billion and $1 billion of accrued interest receivable at September 30, 2025 and December 31, 2024, respectively, which is included in Other assets on the Consolidated Balance Sheet, except for credit card loans (which include accrued interest and fees).

During the three and nine months ended September 30, 2025, the Company reversed accrued interest (primarily related to credit cards) of approximately $0.4 billion and $1.4 billion, respectively. During the three and nine months ended September 30, 2024, the Company reversed accrued interest (primarily related to credit cards) of approximately $0.4 billion and $1.2 billion, respectively. These reversals of accrued interest are reflected as a reduction to Interest income in the Consolidated Statement of Income.

Interest Income Recognized for Non-Accrual Consumer Loans

In millions of dollars	Three Months Ended September 30, 2025		Three Months Ended September 30, 2024		Nine Months Ended September 30, 2025		Nine Months Ended September 30, 2024
In North America offices(1)
Residential first mortgages	$	3	$	2	$	7	$	7
Home equity loans	1		1		3		4
Personal, small business and other	—		1		1		1
Total	$	4	$	4	$	11	$	12
In offices outside North America(1)
Residential mortgages	$	3	$	2	$	7	$	7
Personal, small business and other	—		—		1		1
Total	$	3	$	2	$	8	$	8
Total Citigroup	$	7	$	6	$	19	$	20

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

Schedule of loans credit quality indicators

The following tables provide details on the Fair Isaac Corporation (FICO) scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables by year of origination. FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio. Loans that did not have FICO scores as of the prior period have been updated with FICO scores as they become available.

With respect to Citi’s consumer loan portfolio outside of the U.S. as of September 30, 2025 and December 31, 2024 ($79.4 billion and $72.5 billion, respectively), various country-specific or regional credit risk metrics and acquisition and behavior scoring models are leveraged as one of the factors to evaluate the credit quality of customers (see “Consumer Loans and Ratios Outside of North America” below). As a result, details of relevant credit quality indicators for those loans are not comparable to the below FICO score distribution for the U.S. portfolio.

FICO score distribution—U.S. portfolio	September 30, 2025
In millions of dollars	Less than 660		660 to 739		Greater than or equal to 740		Classifiably managed(1)		FICO not available(2)		Total loans
Residential first mortgages
2025	$	91	$	1,603	$	9,348
2024	151		1,770		8,988
2023	210		2,111		11,884
2022	344		3,022		15,372
2021	346		2,488		14,117
Prior	1,715		6,264		30,830
Total residential first mortgages	$	2,857	$	17,258	$	90,539	$	—	$	7,145	$	117,799
Home equity line of credit (pre-reset)	$	240	$	702	$	1,512
Home equity line of credit (post-reset)	60		76		70
Home equity term loans	40		75		97
2025	—		—		—
2024	—		—		—
2023	—		—		—
2022	—		—		—
2021	—		—		1
Prior	40		75		96
Total home equity loans	$	340	$	853	$	1,679	$	—	$	44	$	2,916
Credit cards	$	22,826	$	58,363	$	81,063
Revolving loans converted to term loans(3)	1,660		805		155
Total credit cards(4)	$	24,486	$	59,168	$	81,218	$	—	$	2,002	$	166,874
Personal, small business and other
2025	$	47	$	219	$	754
2024	146		349		789
2023	101		173		307
2022	79		95		133
2021	13		17		21
Prior	90		138		136
Total personal, small business and other(5)(6)	$	476	$	991	$	2,140	$	25,223	$	2,772	$	31,602
Total(7)	$	28,159	$	78,270	$	175,576	$	25,223	$	11,963	$	319,191

FICO score distribution—U.S. portfolio	December 31, 2024
In millions of dollars	Less than 660		660 to 739		Greater than or equal to 740		Classifiably managed(1)		FICO not available(2)		Total loans
Residential first mortgages
2024	$	123	$	2,213	$	10,308
2023	223		2,451		12,936
2022	354		3,272		16,034
2021	312		2,745		14,651
2020	298		1,990		12,245
Prior	1,473		5,034		20,573
Total residential first mortgages	$	2,783	$	17,705	$	86,747	$	—	$	7,358	$	114,593
Home equity line of credit (pre-reset)	$	266	$	764	$	1,597
Home equity line of credit (post-reset)	58		80		75
Home equity term loans	45		87		114
2024	—		—		—
2023	—		—		—
2022	—		—		—
2021	—		—		1
2020	—		1		2
Prior	45		86		111
Total home equity loans	$	369	$	931	$	1,786	$	—	$	55	$	3,141
Credit cards	$	22,855	$	59,574	$	83,935
Revolving loans converted to term loans(3)	1,462		668		129
Total credit cards(4)	$	24,317	$	60,242	$	84,064	$	—	$	1,874	$	170,497
Personal, small business and other
2024	$	96	$	398	$	1,219
2023	132		282		577
2022	131		180		271
2021	28		38		54
2020	2		2		4
Prior	94		152		150
Total personal, small business and other(5)(6)	$	483	$	1,052	$	2,275	$	25,860	$	2,730	$	32,400
Total(7)	$	27,952	$	79,930	$	174,872	$	25,860	$	12,017	$	320,631

(1)    These personal, small business and other loans without a FICO score available include $25.2 billion and $25.9 billion of Private Bank loans as of September 30, 2025 and December 31, 2024, respectively, which are classifiably managed within Wealth and are primarily evaluated for credit risk based on their internal risk ratings. As of September 30, 2025 and December 31, 2024, approximately 80% and 83% of these loans, respectively, were rated investment grade.

(2)    FICO scores not available are primarily driven by loans associated with clients whose underlying properties are held in trusts or LLCs, for non-U.S. citizens, and loans guaranteed by government-sponsored entities, for which FICO scores are generally not considered by Citi.

(3)    Not included in the tables above are $50 million and $33 million of revolving credit card loans outside of the U.S. that were converted to term loans as of September 30, 2025 and December 31, 2024, respectively.

(4)    Excludes $572 million and $562 million of balances related to Canada for September 30, 2025 and December 31, 2024, respectively.

(5)    Excludes $833 million and $755 million of balances related to Canada for September 30, 2025 and December 31, 2024, respectively.

(6)    Includes approximately $16 million and $22 million of personal revolving loans that were converted to term loans for September 30, 2025 and December 31, 2024, respectively.

(7)    Excludes $592 million and $(224) million of unallocated portfolio-layer hedges cumulative basis adjustments at September 30, 2025 and December 31, 2024, respectively.

Consumer Gross Credit Losses

The following tables provide details on gross credit losses recognized during the nine months ended September 30, 2025 and 2024, by year of loan origination:

In millions of dollars	Nine Months Ended September 30, 2025
Residential first mortgages
2025	$	—
2024	5
2023	3
2022	12
2021	4
Prior	43
Total residential first mortgages	$	67
Home equity line of credit (pre-reset)	$	4
Home equity line of credit (post-reset)	1
Home equity term loans	—
Total home equity loans	$	5
Credit cards	$	7,034
Revolving loans converted to term loans	230
Total credit cards	$	7,264
Personal, small business and other
2025	$	129
2024	190
2023	129
2022	73
2021	29
Prior	113
Total personal, small business and other	$	663
Total Citigroup	$	7,999

In millions of dollars	Nine Months Ended September 30, 2024
Residential first mortgages
2024	$	—
2023	1
2022	—
2021	—
2020	—
Prior	27
Total residential first mortgages	$	28
Home equity line of credit (pre-reset)	$	5
Home equity line of credit (post-reset)	1
Home equity term loans	1
Total home equity loans	$	7
Credit cards	$	6,787
Revolving loans converted to term loans	188
Total credit cards	$	6,975
Personal, small business and other
2024	$	101
2023	152
2022	131
2021	51
2020	20
Prior	129
Total personal, small business and other	$	584
Total Citigroup	$	7,594

The following tables provide details on the LTV ratios for Citi’s U.S. consumer mortgage portfolios by year of origination. LTV ratios are updated monthly using the most recent Core Logic Home Price Index data available for substantially all of the portfolio, applied at the Metropolitan Statistical Area level, if available, or the state level if not. The remainder of the portfolio is updated in a similar manner using the Federal Housing Finance Agency indices.

LTV distribution—U.S. portfolio(1)	September 30, 2025
In millions of dollars	Less than  or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available(1)		Total
Residential first mortgages
2025	$	8,458	$	2,741	$	—
2024	9,059		2,166		1
2023	13,389		1,289		3
2022	18,429		1,397		24
2021	17,742		281		6
Prior	41,403		402		28
Total residential first mortgages	$	108,480	$	8,276	$	62	$	981	$	117,799
Home equity loans (pre-reset)	$	2,380	$	42	$	34
Home equity loans (post-reset)	383		13		22
Total home equity loans	$	2,763	$	55	$	56	$	42	$	2,916
Total(2)	$	111,243	$	8,331	$	118	$	1,023	$	120,715

LTV distribution—U.S. portfolio(1)	December 31, 2024
In millions of dollars	Less than  or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available(1)		Total
Residential first mortgages
2024	$	9,196	$	3,550	$	1
2023	13,973		2,036		2
2022	18,546		2,078		42
2021	18,247		472		33
2020	15,434		226		1
Prior	28,797		351		25
Total residential first mortgages	$	104,193	$	8,713	$	104	$	1,583	$	114,593
Home equity loans (pre-reset)	$	2,514	$	26	$	45
Home equity loans (post-reset)	435		3		9
Total home equity loans	$	2,949	$	29	$	54	$	109	$	3,141
Total(2)	$	107,142	$	8,742	$	158	$	1,692	$	117,734

(1)Residential first mortgages with no LTV information available include government-guaranteed loans that do not require LTV information for credit risk assessment and fair value loans.

(2)Excludes $592 million and $(224) million of unallocated portfolio-layer cumulative basis adjustments at September 30, 2025 and December 31, 2024, respectively.

The following tables provide details on the LTV ratios for Citi’s consumer mortgage portfolio outside of the U.S. by year of origination:

LTV distribution—outside of U.S. portfolio(1)	September 30, 2025
In millions of dollars	Less than  or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential mortgages
2025	$	1,847	$	165	$	—
2024	2,805		341		—
2023	2,100		598		346
2022	2,337		556		539
2021	2,244		534		499
Prior	8,107		449		127
Total	$	19,440	$	2,643	$	1,511	$	484	$	24,078

LTV distribution—outside of U.S. portfolio(1)	December 31, 2024
In millions of dollars	Less than  or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential mortgages
2024	$	2,808	$	421	$	—
2023	2,406		654		412
2022	2,579		462		698
2021	2,505		426		657
2020	1,739		326		176
Prior	7,642		148		8
Total	$	19,679	$	2,437	$	1,951	$	389	$	24,456

(1)Mortgage portfolios outside of the U.S. are primarily in Wealth. As of September 30, 2025 and December 31, 2024, mortgage portfolios outside of the U.S. had an average LTV of approximately 57% and 58%, respectively.

Consumer Loans and Ratios Outside of North America

					Delinquency-managed loans and ratios
In millions of dollars at September 30, 2025	Total loans outside of North America(1)		Classifiably managed loans(2)		Delinquency-managed loans		30–89  days past  due ratio		≥ 90 days past  due ratio		3Q25 NCL ratio		3Q24 NCL ratio
Residential mortgages(3)	$	24,078	$	—	$	24,078	0.19	%	0.30	%	0.10	%	0.03	%
Credit cards	13,754		—		13,754		1.73		2.08		5.98		4.68
Personal, small business and other(4)	39,609		21,562		18,047		0.66		0.22		1.09		0.95
Total	$	77,441	$	21,562	$	55,879	0.72	%	0.71	%	1.67	%	1.29	%
					Delinquency-managed loans and ratios
In millions of dollars at December 31, 2024	Total loans outside of North America(1)		Classifiably managed loans(2)		Delinquency-managed loans		30–89  days past  due ratio		≥ 90 days past  due ratio
Residential mortgages(3)	$	24,456	$	—	$	24,456	0.16	%	0.25	%
Credit cards	12,927		—		12,927		1.47		1.66
Personal, small business and other(4)	33,995		17,553		16,442		0.61		0.22
Total	$	71,378	$	17,553	$	53,825	0.61	%	0.58	%

(1)    Mexico is included in offices outside of North America.

(2)    Classifiably managed loans are primarily evaluated for credit risk based on their internal risk classification. As of September 30, 2025 and December 31, 2024, approximately 54% and 56% of these loans, respectively, were rated investment grade.

(3)    Includes $18.7 billion and $19.1 billion as of September 30, 2025 and December 31, 2024, respectively, of residential mortgages related to Wealth.

(4)    Includes $30.0 billion and $25.4 billion as of September 30, 2025 and December 31, 2024, respectively, of loans related to Wealth.

Loan modifications to borrowers experiencing financial difficulty

The following tables provide details on permanent consumer loan modifications granted during the three and nine months ended September 30, 2025 and 2024 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications:

					For the Three Months Ended September 30, 2025
In millions of dollars, except weighted averages	Modifications as % of loans		Total modifications balance at September 30, 2025(1)(2)(3)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay		Weighted-average interest rate reduction %		Weighted-average term extension (months)	Weighted-average delay in payments (months)
In North America offices(4)
Residential first mortgages(5)	0.03	%	$	35	$	—	$	15	$	14	$	6	$	—	$	—	—	%	113	10
Home equity loans	—		—		—		—		—		—		—		—		—		—	—
Credit cards	0.28		467		467		—		—		—		—		—		24		—	—
Personal, small business and other	0.02		8		—		—		—		8		—		—		8		19	—
Total	0.16	%	$	510	$	467	$	15	$	14	$	14	$	—	$	—
In offices outside North America(4)
Residential mortgages	0.04	%	$	10	$	—	$	—	$	8	$	2	$	—	$	—	1	%	171	12
Credit cards	0.06		8		7		—		—		1		—		—		26		21	—
Personal, small business and other	0.03		13		4		—		—		9		—		—		7		21	—
Total	0.04	%	$	31	$	11	$	—	$	8	$	12	$	—	$	—

					For the Three Months Ended September 30, 2024
In millions of dollars, except weighted averages	Modifications as % of loans		Total modifications balance at September 30, 2024(1)(2)(3)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay		Weighted-average interest rate reduction %		Weighted-average term extension (months)	Weighted-average delay in payments (months)
In North America offices(4)
Residential first mortgages(5)	0.03	%	$	29	$	1	$	13	$	11	$	4	$	—	$	—	1	%	145	10
Home equity loans	—		—		—		—		—		—		—		—		—		—	—
Credit cards	0.29		471		471		—		—		—		—		—		25		—	—
Personal, small business and other	0.02		7		—		—		—		7		—		—		8		19	—
Total	0.16	%	$	507	$	472	$	13	$	11	$	11	$	—	$	—
In offices outside North America(4)
Residential mortgages	0.05	%	$	13	$	—	$	—	$	13	$	—	$	—	$	—	—	%	—	12
Credit cards	0.05		6		6		—		—		—		—		—		24		—	—
Personal, small business and other	0.02		8		2		1		—		5		—		—		7		25	—
Total	0.04	%	$	27	$	8	$	1	$	13	$	5	$	—	$	—

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period. During the three months ended September 30, 2025 and 2024, Citi granted forgiveness of less than $1 million and less than $1 million in residential first mortgage loans, $38 million and $30 million in credit card loans and $3 million and $1 million in personal, small business and other loans, respectively. As a result, there were no outstanding balances as of September 30, 2025 and 2024.

(2)    Commitments to lend to borrowers experiencing financial difficulty that were granted modifications included in the tables above were immaterial at September 30, 2025 and 2024.

(3)    For major consumer portfolios, the ACLL is based on macroeconomic-sensitive models that rely on historical performance and macroeconomic scenarios to forecast expected credit losses. Modifications of consumer loans impact expected credit losses by affecting the likelihood of default.

(4)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(5)    Excludes residential first mortgages discharged in Chapter 7 bankruptcy in the three months ended September 30, 2025 and 2024.

					For the Nine Months Ended September 30, 2025
In millions of dollars, except weighted averages	Modifications as % of loans		Total modifications balance at September 30, 2025(1)(2)(3)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay		Weighted-average interest rate reduction %		Weighted-average term extension (months)	Weighted-average delay in payments (months)
In North America offices(4)
Residential first mortgages(5)	0.30	%	$	355	$	1	$	39	$	299	$	16	$	—	$	—	—	%	139	9
Home equity loans	0.10		3		—		—		3		—		—		—		—		—	8
Credit cards	0.71		1,196		1,195		—		1		—		—		—		25		—	4
Personal, small business and other	0.08		25		1		—		—		24		—		—		8		19	—
Total	0.49	%	$	1,579	$	1,197	$	39	$	303	$	40	$	—	$	—
In offices outside North America(4)
Residential mortgages	0.13	%	$	31	$	—	$	—	$	27	$	4	$	—	$	—	2	%	183	12
Credit cards	0.15		20		19		—		—		1		—		—		24		21	—
Personal, small business and other	0.07		28		7		—		—		21		—		—		6		25	—
Total	0.10	%	$	79	$	26	$	—	$	27	$	26	$	—	$	—

					For the Nine Months Ended September 30, 2024
In millions of dollars, except weighted averages	Modifications as % of loans		Total modifications balance at September 30, 2024(1)(2)(3)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay		Weighted-average interest rate reduction %		Weighted-average term extension (months)	Weighted-average delay in payments (months)
In North America offices(4)
Residential first mortgages(5)	0.07	%	$	77	$	1	$	47	$	22	$	7	$	—	$	—	1	%	171	9
Home equity loans	0.06		2		—		—		1		1		—		—		1		151	9
Credit cards	0.69		1,122		1,122		—		—		—		—		—		24		—	—
Personal, small business and other	0.05		18		1		—		1		16		—		—		8		18	7
Total	0.39	%	$	1,219	$	1,124	$	47	$	24	$	24	$	—	$	—
In offices outside North America(4)
Residential mortgages	0.16	%	$	41	$	—	$	—	$	39	$	2	$	—	$	—	2	%	188	12
Credit cards	0.11		14		14		—		—		—		—		—		24		—	—
Personal, small business and other	0.06		21		4		4		—		13		—		—		7		24	—
Total	0.10	%	$	76	$	18	$	4	$	39	$	15	$	—	$	—

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period. During the nine months ended September 30, 2025 and 2024, Citi granted forgiveness of $1 million and $2 million in residential first mortgage loans, $93 million and $58 million in credit card loans and $3 million and $2 million in personal, small business and other loans, respectively. As a result, there were no outstanding balances as of September 30, 2025 and 2024.

(2)    Commitments to lend to borrowers experiencing financial difficulty that were granted modifications included in the tables above were immaterial at September 30, 2025 and 2024.

(3)    For major consumer portfolios, the ACLL is based on macroeconomic-sensitive models that rely on historical performance and macroeconomic scenarios to forecast expected credit losses. Modifications of consumer loans impact expected credit losses by affecting the likelihood of default.

(4)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(5)    Excludes residential first mortgages discharged in Chapter 7 bankruptcy in the nine months ended September 30, 2025 and 2024.

Performance of Modified Consumer Loans

The following tables present the delinquencies and gross credit losses of permanently modified consumer loans to borrowers experiencing financial difficulty, including loans that were modified during the 12 months ended September 30, 2025 and the year ended December 31, 2024:

	As of September 30, 2025
In millions of dollars	Total		Current		30–89 days past due		90+ days past due		Gross credit losses
In North America offices(1)
Residential first mortgages	$	378	$	97	$	24	$	257	$	—
Home equity loans	4		—		1		3		—
Credit cards	1,492		1,189		200		103		283
Personal, small business and other	32		28		3		1		2
Total(2)	$	1,906	$	1,314	$	228	$	364	$	285
In offices outside North America(1)
Residential mortgages	$	38	$	34	$	3	$	1	$	1
Credit cards	29		25		3		1		1
Personal, small business and other	30		26		4		—		1
Total(2)	$	97	$	85	$	10	$	2	$	3

	As of December 31, 2024
In millions of dollars	Total		Current		30–89 days past due		90+ days past due		Gross credit losses
In North America offices(1)
Residential first mortgages	$	99	$	40	$	19	$	40	$	—
Home equity loans	3		1		—		2		—
Credit cards	1,432		1,081		211		140		291
Personal, small business and other	25		22		2		1		2
Total(2)	$	1,559	$	1,144	$	232	$	183	$	293
In offices outside North America(1)
Residential mortgages	$	37	$	34	$	2	$	1	$	—
Credit cards	17		16		1		—		—
Personal, small business and other	30		24		4		2		1
Total(2)	$	84	$	74	$	7	$	3	$	1

(1)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(2)    Typically, upon modification a loan re-ages to current. However, FFIEC guidelines for re-aging certain loans require that at least three consecutive minimum monthly payments, or the equivalent amount, be received. In these cases, the loan will remain delinquent until the payment criteria for re-aging have been satisfied.

Defaults of Modified Consumer Loans

The following tables present default activity for permanently modified consumer loans to borrowers experiencing financial difficulty by type of modification granted, including loans that were modified and subsequently defaulted during the three and nine months ended September 30, 2025 and 2024. Default is defined as 60 days past due:

			For the Three Months Ended September 30, 2025
In millions of dollars	Total(1)(2)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay
In North America offices(3)
Residential first mortgages	$	8	$	—	$	4	$	—	$	4	$	—	$	—
Home equity loans	—		—		—		—		—		—		—
Credit cards(4)	92		92		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	101	$	92	$	4	$	—	$	5	$	—	$	—
In offices outside North America(3)
Residential mortgages	$	1	$	—	$	—	$	1	$	—	$	—	$	—
Credit cards(4)	1		1		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	3	$	1	$	—	$	1	$	1	$	—	$	—

			For the Three Months Ended September 30, 2024
In millions of dollars	Total(1)(2)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay
In North America offices(3)
Residential first mortgages	$	7	$	—	$	6	$	—	$	1	$	—	$	—
Home equity loans	—		—		—		—		—		—		—
Credit cards(4)	105		105		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	113	$	105	$	6	$	—	$	2	$	—	$	—
In offices outside North America(3)
Residential mortgages	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Credit cards(4)	1		1		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	2	$	1	$	—	$	—	$	1	$	—	$	—

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period.

(2)    Modified residential first mortgages that default are typically liquidated through foreclosure or a similar type of liquidation.

(3)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(4)    Modified credit card loans that default continue to be charged off in accordance with Citi’s consumer charge-off policy.

			For the Nine Months Ended September 30, 2025
In millions of dollars	Total(1)(2)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay
In North America offices(3)
Residential first mortgages	$	25	$	—	$	15	$	—	$	10	$	—	$	—
Home equity loans	—		—		—		—		—		—		—
Credit cards(4)	150		150		—		—		—		—		—
Personal, small business and other	2		—		—		—		2		—		—
Total	$	177	$	150	$	15	$	—	$	12	$	—	$	—
In offices outside North America(3)
Residential mortgages	$	4	$	—	$	—	$	3	$	1	$	—	$	—
Credit cards(4)	2		2		—		—		—		—		—
Personal, small business and other	4		—		—		—		4		—		—
Total	$	10	$	2	$	—	$	3	$	5	$	—	$	—

			For the Nine Months Ended September 30, 2024
In millions of dollars	Total(1)(2)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay
In North America offices(3)
Residential first mortgages	$	25	$	—	$	22	$	—	$	3	$	—	$	—
Home equity loans	—		—		—		—		—		—		—
Credit cards(4)	178		178		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	204	$	178	$	22	$	—	$	4	$	—	$	—
In offices outside North America(3)
Residential mortgages	$	3	$	—	$	—	$	3	$	—	$	—	$	—
Credit cards(4)	1		1		—		—		—		—		—
Personal, small business and other	3		—		—		—		3		—		—
Total	$	7	$	1	$	—	$	3	$	3	$	—	$	—

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period.

(2)    Modified residential first mortgages that default are typically liquidated through foreclosure or a similar type of liquidation.

(3)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(4)    Modified credit card loans that default continue to be charged off in accordance with Citi’s consumer charge-off policy.