v3.25.4
LOANS
 12 Months Ended
Dec. 31, 2025
Loans and Leases Receivable Disclosure [Abstract]  
LOANS LOANS
Citigroup loans are reported in two categories: corporate and consumer. These categories are classified primarily according to the segment that manages the loans (or, if applicable, All Other—Legacy Franchises), in addition to the nature of the obligor, with corporate loans generally made for corporate, institutional and public sector clients and consumer loans to retail and small business customers.
CORPORATE LOANS
Corporate loans represent loans and leases managed by Services, Markets, Banking and the Mexico SBMM portion of All Other—Legacy Franchises. The following table presents information by corporate loan type:

In millions of dollarsDecember 31,
2025		December 31,
2024
In North America offices(1)
  
Commercial and industrial$57,406 $57,730 
Financial institutions72,154 41,815 
Mortgage and real estate(2)
17,931 18,411 
Installment and other(3)
23,104 25,529 
Lease financing72 235 
Total$170,667 $143,720 
In offices outside North America(1)
 
Commercial and industrial$96,886 $92,856 
Financial institutions27,054 27,276 
Mortgage and real estate(2)
9,856 8,136 
Installment and other(3)
34,100 25,800 
Lease financing47 40 
Governments and official institutions5,070 3,630 
Total$173,013 $157,738 
Corporate loans, net of unearned income, excluding portfolio-layer hedges cumulative basis adjustments(4)(5)(6)
$343,680 $301,458 
Unallocated portfolio-layer hedges cumulative basis adjustments(7)
$17 $(72)
Corporate loans, net of unearned income(4)(5)(6)
$343,697 $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 ($1.1) billion and ($969) million at December 31, 2025 and 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 December 31, 2025 and 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 years ended December 31, 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 24.

The Company sold and/or reclassified to held-for-sale $4.9 billion and $5.2 billion of corporate loans during the years ended December 31, 2025 and 2024, respectively. The Company did not have significant purchases of corporate loans classified as held-for-investment for the years ended December 31, 2025 or 2024.
Delinquency Status
Citi generally does not manage corporate loans on a delinquency basis. See “Loans—Corporate Loans” and “Allowance for Credit Losses (ACL)—Corporate Loans, HTM Securities and Other Assets” in Note 1 for Citi’s policies related to corporate loans, including its non-accrual policy.
While corporate loans are generally managed based on their internally assigned risk rating (see further discussion below), the following tables present delinquency information by corporate loan type:


Corporate Loan Delinquencies and Non-Accrual Details at December 31, 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$162 $53 $215 $1,141 $150,416 $151,772 
Financial institutions5 — 5 65 98,808 98,878 
Mortgage and real estate35 2 37 627 27,122 27,786 
Lease financing— 1 1 — 118 119 
Other107 8 115 168 58,038 58,321 
Loans at fair valueN/AN/AN/AN/AN/A6,804 
Total(5)
$309 $64 $373 $2,001 $334,502 $343,680 

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 institutions8 — 8 73 68,297 68,378 
Mortgage and real estate6 2 8 567 25,971 26,546 
Lease financing— 1 1 — 275 276 
Other62 16 78 195 49,552 49,825 
Loans at fair valueN/AN/AN/AN/AN/A7,759 
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 $17 million and $(72) million of unallocated portfolio-layer hedges cumulative basis adjustments at December 31, 2025 and 2024, respectively.
N/A Not applicable

Citigroup has a risk management process to monitor, evaluate and manage the principal risks associated with its corporate loan portfolio. As part of its risk management process, Citi assigns numeric risk ratings to its corporate loan facilities based on quantitative and qualitative assessments of the obligor and facility. These risk ratings are reviewed at least annually or more often if material events related to the obligor or facility warrant. Factors considered in assigning the risk ratings include the following:

•financial condition of the obligor
•qualitative assessment of management and strategy
•amount and sources of repayment
•amount and type of collateral and guarantee arrangements
•amount and type of any contingencies associated with the obligor
•the obligor’s industry and geography
The obligor risk ratings are defined by ranges of default probabilities. The facility risk ratings are defined by ranges of loss norms, which are the product of the probability of default and the loss given default. The investment-grade rating categories are similar to the category BBB-/Baa3 and above as defined by S&P and Moody’s. Loans classified according to the bank regulatory definitions as special mention, substandard, doubtful and loss will have risk ratings within the non-investment-grade categories.
Corporate Loan Credit Quality Indicators

 
Recorded investment in loans(1)
Term loans by year of origination
Revolving line
of credit arrangements(2)
December 31,
2025
In millions of dollars20252024202320222021Prior
Investment grade(3)
 
Commercial and industrial(4)
$40,283 $7,840 $5,461 $3,774 $2,051 $3,468 $28,011 $90,888 
Financial institutions(4)
24,577 3,979 2,525 920 486 1,356 51,813 85,656 
Mortgage and real estate6,073 4,968 3,738 1,830 1,483 1,482 405 19,979 
Other(5)
12,869 3,682 2,448 1,907 538 3,891 26,663 51,998 
Total investment grade$83,802 $20,469 $14,172 $8,431 $4,558 $10,197 $106,892 $248,521 
Non-investment grade(3)
 
Accrual 
Commercial and industrial(4)
$27,614 $4,692 $3,746 $2,235 $634 $2,384 $18,438 $59,743 
Financial institutions(4)
4,189 989 604 115 246 190 6,824 13,157 
Mortgage and real estate951 823 907 1,312 1,014 1,602 571 7,180 
Other(5)
2,964 337 408 183 46 272 2,064 6,274 
Non-accrual
Commercial and industrial(4)
216 4 99 70 35 61 656 1,141 
Financial institutions— — — — 43 — 22 65 
Mortgage and real estate3 — 41 199 4 344 36 627 
Other(5)
78 14 16 4 13 8 35 168 
Total non-investment grade$36,015 $6,859 $5,821 $4,118 $2,035 $4,861 $28,646 $88,355 
Loans at fair value(6)
$6,804 
Corporate loans, net of unearned income(7)
$119,817 $27,328 $19,993 $12,549 $6,593 $15,058 $135,538 $343,680 
 
Recorded investment in loans(1)
Term loans by year of origination
Revolving line
of credit arrangements(2)
December 31, 2024
In millions of dollars20242023202220212020Prior
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 estate5,325 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 estate801 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 industrial43 78 48 17 7 44 305 542 
Financial institutions(4)
— — — 55 — — 18 73 
Mortgage and real estate16 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 year.
(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 $17 million and $(72) million of unallocated portfolio-layer hedges cumulative basis adjustments at December 31, 2025 and 2024, respectively.
Corporate Gross Credit Losses
The tables below detail gross credit losses recognized during the years ended December 31, 2025 and 2024, by year of loan origination:

 
For the year ended December 31, 2025
In millions of dollars20252024202320222021Prior Revolving line of credit arrangementTotal
Commercial and industrial$24 $5 $— $— $— $6 $139 $174 
Financial institutions— — — — — — 9 9 
Mortgage and real estate— — — — — 12 10 22 
Other(1)
7 — 141 — 62 2 25 237 
Total$31 $5 $141 $— $62 $20 $183 $442 

 
For the year ended December 31, 2024
In millions of dollars20242023202220212020Prior Revolving line of credit arrangementTotal
Commercial and industrial$18 $2 $3 $9 $20 $15 $184 $251 
Financial institutions— — — — — 1 9 10 
Mortgage and real estate1 37 11 1 — 85 29 164 
Other(1)
1 — — 12 — 17 38 68 
Total$20 $39 $14 $22 $20 $118 $260 $493 

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


Non-Accrual Corporate Loans

 December 31, 2025December 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$788 $295 $199 $86 
Financial institutions— — — — 
Mortgage and real estate44 4 276 42 
Other121 24 185 174 
Total non-accrual corporate loans with specific allowances$953 $323 $660 $302 
Non-accrual corporate loans without specific allowances    
Commercial and industrial$353 $343  
Financial institutions65 73  
Mortgage and real estate583 291  
Lease financing— —  
Other47 10  
Total non-accrual corporate loans without specific allowances$1,048 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 years ended December 31, 2025, 2024 and 2023 was $35 million, $65 million and $38 million, respectively.
N/A Not applicable
Corporate Loan Modifications to Borrowers Experiencing Financial Difficulty
Citi evaluates and may modify certain corporate loans to borrowers experiencing financial difficulty to reduce Citi’s exposure to loss, often providing the borrower with an opportunity to work through financial difficulties. Each modification is unique to the borrower’s individual circumstances. The following tables detail corporate loan
modifications granted during the years ended December 31, 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 year ended December 31, 2025
In millions of dollars, except weighted-average
term extension
Total modifications
balance at
December 31, 2025(1)(2)(3)
Term
extension
Combination:
Term extension and payment delay(4)
Weighted-average term extension
(months)
Commercial and industrial$286 $286 $— 14
Financial institutions— — — — 
Mortgage and real estate77 77 — 40
Other(5)
6 6 — 49
Total $369 $369 $— 

For the year ended December 31, 2024
In millions of dollars, except weighted-average
term extension
Total modifications balance at
December 31, 2024(1)(2)(3)
Term
extension
Combination:
Term extension and payment delay(4)
Weighted-average term extension
(months)
Commercial and industrial$251 $251 $— 16
Financial institutions— — — — 
Mortgage and real estate105 105— 18
Other(5)
— — — — 
Total$356 $356 $— 

(1)The above tables reflect 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 December 31, 2025 and 2024.
(2)Commitments to lend to borrowers experiencing financial difficulty that were granted modifications totaled $418 million and $878 million as of December 31, 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.
Performance of Modified Corporate Loans
The following tables present the delinquencies of modified corporate loans to borrowers experiencing financial difficulty, including loans that were modified during the 12 months ended December 31, 2025 and 2024:

 
As of December 31, 2025(1)
In millions of dollarsTotal Current
30–89 days
past due
90+ days
past due
Commercial and industrial$286 $278 $1 $7 
Financial institutions— — — — 
Mortgage and real estate77 66 11 — 
Other(2)
6 6 — — 
Total$369 $350 $12 $7 

 
As of December 31, 2024(1)
In millions of dollarsTotal Current30–89 days
past due		90+ days
past due
Commercial and industrial$251 $251 $— $— 
Financial institutions— — — — 
Mortgage and real estate105 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.
Defaults of Modified Corporate Loans
Modified corporate loans to borrowers experiencing financial difficulty that subsequently defaulted during the year ended December 31, 2025 were approximately $7 million. No modified corporate loans to borrowers experiencing financial difficulty defaulted during the year ended December 31, 2024. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due. For a modified corporate loan that is not collateral dependent, expected default rates are considered in the loan’s individually assessed ACL.
CONSUMER LOANS
Consumer loans represent loans and leases managed by USPB, Wealth and All Other—Legacy Franchises (except Mexico SBMM).
Citi has established a risk management process to monitor, evaluate and manage the principal risks associated with its consumer loan portfolio. Credit quality indicators that are actively monitored include delinquency status, consumer credit scores under Fair Isaac Corporation (FICO) and loan-to-value (LTV) ratios, each as discussed in more detail below.

See “Loans—Consumer Loans” and “Allowance for Credit Losses (ACL)—Consumer Loans” in Note 1 for Citi’s policies related to consumer loans, including non-accrual and charge-off policies.
The following tables provide Citi’s consumer loans by type:

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 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 ACLLNon-accrual loans for which there is an ACLLTotal
non-accrual		90 days 
past due and accruing
In North America offices(5)
      
Residential first mortgages(6)
$118,264 $426 $484 $215 $119,389 $125 $560 $685 $121 
Home equity loans(7)(8)
2,810 26 36 — 2,872 23 82 105 — 
Credit cards168,738 2,373 2,545 — 173,656 — — — 2,545 
Personal, small business and other(9)
33,084 96 31 — 33,211 5 152 157 1 
Total$322,896 $2,921 $3,096 $215 $329,128 $153 $794 $947 $2,667 
In offices outside North America(5)
      
Residential mortgages(6)
$23,928 $35 $78 $— $24,041 $— $180 $180 $— 
Credit cards(10)
14,128 256 317 — 14,701 — 323 323 93 
Personal, small business and other(9)
40,143 128 49 — 40,320 — 168 168 — 
Total$78,199 $419 $444 $— $79,062 $— $671 $671 $93 
Total excluding portfolio-layer hedges cumulative basis adjustments$401,095 $3,340 $3,540 $215 $408,190 $153 $1,465 $1,618 $2,760 
Unallocated portfolio-layer hedges
cumulative basis adjustments(11)
$343 
Total Citigroup(12)(13)
$408,533 

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 ACLLNon-accrual loans for which there is an ACLLTotal
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 cards166,021 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(10)
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(11)
$(224)
Total Citigroup(12)(13)
$393,102 

(1)Loans less than 30 days past due are presented as current.
(2)Includes $51 million and $281 million at December 31, 2025 and 2024, respectively, of residential first mortgages recorded at fair value.
(3)Excludes loans guaranteed by U.S. government-sponsored agencies. Excludes delinquencies on $26.0 billion and $22.3 billion of classifiably managed Private Bank loans in North America and outside North America, respectively, at December 31, 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 December 31, 2025 and 2024, respectively.
(5)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
(6)Includes approximately $0.2 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 $18.6 billion of residential mortgages outside North America related to Wealth at December 31, 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 December 31, 2025 and 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 December 31, 2025, Wealth in North America includes $28.2 billion of loans, of which $26.0 billion are classifiably managed with 80% rated investment grade, and Wealth outside North America includes $30.6 billion of loans, of which $22.3 billion are classifiably managed with 56% 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)Primarily relates to Mexico Consumer credit cards. While credit cards are generally not subject to non-accrual, Mexico Consumer credit cards cease accruing interest at 90 days past due and are charged off at 180 days past due.
(11)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 24.
(12)Consumer loans were net of unearned income of $971 million and $889 million at December 31, 2025 and 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, except for credit cards (see Note 5).
(13)Not included in the balances above is approximately $1 billion and $1 billion of accrued interest receivable at December 31, 2025 and 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 years ended December 31, 2025 and 2024, the Company reversed accrued interest (primarily related to credit cards) of approximately $1.8 billion and $1.7 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

For the years ended December 31,
In millions of dollars20252024
In North America offices(1)
Residential first mortgages$9 $9 
Home equity loans4 5 
Personal, small business and other2 1 
Total$15 $15 
In offices outside North America(1)
Residential mortgages$9 $9 
Personal, small business and other2 2 
Total$11 $11 
Total Citigroup$26 $26 

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

Sales and Purchases of Consumer Loans
During the years ended December 31, 2025 and 2024, the Company sold and/or reclassified to held-for-sale (HFS) approximately $38 million and $335 million of consumer loans, respectively. Accordingly, there were immaterial releases of the associated allowance for credit losses for the years ended December 31, 2025 and 2024. The transfers exclude certain consumer mortgage loans for which Citi has elected the fair value option (see Note 27), which do not have an associated allowance for credit losses. The transfers also exclude consumer loans held by businesses HFS (see “Significant Disposals” in Note 2).
Except for the acquisition of an approximate $700 million credit card portfolio during the year ended December 31, 2024, the Company did not have significant purchases of consumer loans classified as held-for-investment during the years ended December 31, 2025 and 2024.
Consumer Credit Scores (FICO)
In the U.S., independent credit agencies rate an individual’s risk for assuming debt based on the individual’s credit history and assign every consumer a Fair Isaac Corporation (FICO) credit score. These scores are continually updated by the agencies based on an individual’s credit actions (e.g., taking out a loan or missed or late payments).
The following tables provide details on the 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 December 31, 2025 and 2024 ($80.8 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. portfolioDecember 31, 2025
In millions of dollarsLess than
660		660
to 739		Greater
than or equal to 740
Classifiably managed(1)
FICO not available(2)
Total
loans
Residential first mortgages
2025$112 $2,309 $13,564 
20241431,6007,973
20232272,04511,184
20223682,87715,199
20213272,48313,891
Prior1,6176,20130,153
Total residential first mortgages$2,794 $17,515 $91,964 $— $7,116 $119,389 
Home equity line of credit (pre-reset)
$232 $682 $1,506 
Home equity line of credit (post-reset)64 71 69 
Home equity term loans39 70 95 
2025— — — 
2024— — — 
2023— — — 
2022— — — 
2021— — 1 
Prior39 70 94 
Total home equity loans$335 $823 $1,670 $— $44 $2,872 
Credit cards$23,473 $59,531 $85,390 
Revolving loans converted to term loans(3)
1,742 843 160 
Total credit cards(4)
$25,215 $60,374 $85,550 $— $1,969 $173,108 
Personal, small business and other
2025$43 $475 $1,475 
202482 382 616 
202359 185 234 
202244 99 98 
20217 15 14 
Prior73 158 123 
Total personal, small business and other(5)(6)
$308 $1,314 $2,560 $25,168 $3,029 $32,379 
Total(7)
$28,652 $80,026 $181,744 $25,168 $12,158 $327,748 
FICO score distribution—U.S. portfolioDecember 31, 2024
In millions of dollarsLess 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 
20232232,45112,936
20223543,27216,034
20213122,74514,651
20202981,99012,245
Prior1,4735,03420,573
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 loans45 87 114 
2024— — — 
2023— — — 
2022— — — 
2021— — 1 
2020— 1 2 
Prior45 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 
2023132 282 577 
2022131 180 271 
202128 38 54 
20202 2 4 
Prior94 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 December 31, 2025 and 2024, respectively, which are classifiably managed within Wealth and are primarily evaluated for credit risk based on their internal risk ratings. As of December 31, 2025 and 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 $52 million and $33 million of revolving credit card loans outside of the U.S. that were converted to term loans as of December 31, 2025 and 2024, respectively.
(4)Excludes $548 million and $562 million of balances related to Canada for December 31, 2025 and 2024, respectively.
(5)Excludes $832 million and $755 million of balances related to Canada for December 31, 2025 and 2024, respectively.
(6)Includes approximately $14 million and $22 million of personal revolving loans that were converted to term loans for December 31, 2025 and 2024, respectively.
(7)Excludes $343 million and $(224) million of unallocated portfolio-layer hedges cumulative basis adjustments at December 31, 2025 and 2024, respectively.
Consumer Gross Credit Losses
The following tables provide details on gross credit losses recognized during the years ended December 31, 2025 and 2024, by year of loan origination:

In millions of dollars
For the year ended December 31, 2025
Residential first mortgages
2025$— 
20246 
20233 
202212 
20214 
Prior55 
Total residential first mortgages$80 
Home equity line of credit (pre-reset)$5 
Home equity line of credit (post-reset)1 
Home equity term loans— 
Total home equity loans$6 
Credit cards$9,329 
Revolving loans converted to term loans311 
Total credit cards$9,640 
Personal, small business and other
2025$213 
2024262 
2023164 
202293 
202137 
Prior162 
Total personal, small business and other$931 
Total Citigroup$10,657 



In millions of dollars
For the year ended December 31, 2024
Residential first mortgages
2024$— 
20231 
2022— 
2021— 
2020— 
Prior47 
Total residential first mortgages$48 
Home equity line of credit (pre-reset)$15 
Home equity line of credit (post-reset)2 
Home equity term loans2 
Total home equity loans$19 
Credit cards$9,069 
Revolving loans converted to term loans265 
Total credit cards$9,334 
Personal, small business and other
2024$171 
2023204 
2022165 
202164 
202025 
Prior171 
Total personal, small business and other$800 
Total Citigroup$10,201 
Loan-to-Value (LTV) Ratios—U.S. Consumer Mortgages
LTV ratios (loan balance divided by appraised value) are calculated at origination and updated by applying market price data.
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)
December 31, 2025
In millions of dollarsLess 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$12,061 $4,163 $— 
20247,845 2,181 3 
202312,637 1,288 3 
202218,144 1,378 23 
202117,495 276 6 
Prior40,567 348 28 
Total residential first mortgages$108,749 $9,634 $63 $943 $119,389 
Home equity loans (pre-reset)$2,348 $42 $32 
Home equity loans (post-reset)375 13 21 
Total home equity loans$2,723 $55 $53 $41 $2,872 
Total(2)
$111,472 $9,689 $116 $984 $122,261 

LTV distribution—U.S. portfolio(1)
December 31, 2024
In millions of dollarsLess 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 
202313,973 2,036 2 
202218,546 2,078 42 
202118,247 472 33 
202015,434 226 1 
Prior28,797 351 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 $343 million and $(224) million of unallocated portfolio-layer cumulative basis adjustments at December 31, 2025 and 2024, respectively.
Loan-to-Value (LTV) Ratios—Outside of U.S. Consumer Mortgages
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)
December 31, 2025
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%		LTV not availableTotal
Residential mortgages
2025$2,576 $207 $— 
20242,825 275 — 
20232,062 727 150 
20222,283 630 415 
20212,168 648 345 
Prior7,712 456 67 
Total$19,626 $2,943 $977 $495 $24,041 

LTV distribution—outside of U.S. portfolio(1)
December 31, 2024
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%		LTV not availableTotal
Residential mortgages
2024$2,808 $421 $— 
20232,406 654 412 
20222,579 462 698 
20212,505 426 657 
20201,739 326 176 
Prior7,642 148 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 December 31, 2025 and 2024, mortgage portfolios outside of the U.S. had an average LTV of approximately 56% and 58%, respectively.
Consumer Loans and Ratios Outside of North America

Delinquency-managed loans and ratios
In millions of dollars at December 31, 2025
Total
loans outside of North America(1)
Classifiably managed loans(2)
Delinquency-managed loans30–89 
days past
 due ratio
≥ 90 days
past
 due ratio
4Q25 NCL ratio
Residential mortgages(3)
$24,041 $— $24,041 0.15 %0.32 %0.15 %
Credit cards14,701 — 14,701 1.74 2.16 6.40 
Personal, small business and other(4)
40,320 22,297 18,023 0.71 0.27 1.31 
Total$79,062 $22,297 $56,765 0.74 %0.78 %1.87 %
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 loans30–89 
days past
 due ratio
≥ 90 days
past
 due ratio
4Q24 NCL ratio
Residential mortgages(3)
$24,456 $— $24,456 0.16 %0.25 %0.06 %
Credit cards12,927 — 12,927 1.47 1.66 4.91 
Personal, small business and other(4)
33,995 17,553 16,442 0.61 0.22 1.02 
Total$71,378 $17,553 $53,825 0.61 %0.58 %1.39 %

(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 December 31, 2025 and 2024, approximately 56% and 56% of these loans, respectively, were rated investment grade.
(3)    Includes $18.6 billion and $19.1 billion as of December 31, 2025 and 2024, respectively, of residential mortgages related to Wealth.
(4)    Includes $30.6 billion and $25.4 billion as of December 31, 2025 and 2024, respectively, of loans related to Wealth.


Consumer Loan Modifications to Borrowers Experiencing Financial Difficulty
Citi’s significant consumer modification programs are described below.

Credit Cards
Citi evaluates and assists credit card borrowers who are experiencing financial difficulty by offering long-term loan modification programs. These modifications generally involve reducing the interest rate on the credit card, placing the customer on a fixed payment plan not to exceed 60 months and canceling the customer’s available line of credit. Citi also grants modifications to credit card borrowers working with third-party renegotiation agencies that seek to restructure customers’ entire unsecured debt. In certain situations, Citi may forgive a portion of an outstanding balance if the borrower pays a required amount.


Residential Mortgages
Citi utilizes a third-party subservicer for the servicing of its residential mortgage loans. Through this third-party subservicer, Citi evaluates and assists residential mortgage borrowers who are experiencing financial difficulty primarily by offering interest rate reductions, principal and/or interest forbearance, term extensions or combinations thereof. Borrowers enrolled in forbearance programs typically have payments suspended until the end of the forbearance period. In the U.S., before permanently modifying the contractual payment terms of a mortgage loan, Citi enters into a trial modification with the borrower, generally a three-month period during which the borrower makes monthly payments under the anticipated modified payment terms. Upon successful completion of the trial period, and the borrower’s formal acceptance of the modified terms, Citi and the borrower enter into a permanent modification. Citi expects the majority of loans entering trial modifications to ultimately be enrolled in a permanent modification. During the years ended December 31, 2025 and 2024, $41 million and $33 million, respectively, of mortgage loans were enrolled in trial programs. Mortgage loans of $10 million and $9 million had gone through Chapter 7 bankruptcy during the years ended December 31, 2025 and 2024, respectively.

Types of Consumer Loan Modifications and Their Financial Effect
The following tables provide details on permanent consumer loan modifications granted during the years ended December 31, 2025 and 2024 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications:

 
For the year ended December 31, 2025
In millions of dollars, except weighted averagesModifications as % of loans
Total modifications balance at December 31, 2025(1)(2)(3)
Interest rate reductionTerm extensionPayment delayCombination: interest rate reduction and term extensionWeighted- average interest rate reduction %
Weighted- average term extension (months)
Weighted- average delay in payments (months)
In North America offices(4)
     
Residential first mortgages(5)
0.32 %$380 $3 $61 $301 $15 1 %17810
Home equity loans0.10 3 — — 3 — — — 9
Credit cards0.88 1,525 1,525 — — — 24 — — 
Personal, small business and other0.09 29 1 — — 28 8 18— 
Total0.59 %$1,937 $1,529 $61 $304 $43 
In offices outside North America(4)
Residential mortgages0.15 %$35 $— $— $29 $6 2 %20112
Credit cards0.18 27 24 — — 3 26 22— 
Personal, small business and other0.10 40 11 — — 29 7 25— 
Total0.13 %$102 $35 $— $29 $38 

 
For the year ended December 31, 2024
In millions of dollars, except weighted averagesModifications as % of loans
Total modifications balance at December 31, 2024(1)(2)(3)
Interest rate reductionTerm extensionPayment delayCombination: interest rate reduction and term extensionWeighted- average interest rate reduction %
Weighted- average term extension (months)
Weighted- average delay in payments (months)
In North America offices(4)
     
Residential first mortgages(5)
0.09 %$99 $1 $52 $36 $10 1 %1658
Home equity loans0.10 3 — — 2 1 2 16310
Credit cards0.84 1,432 1,430 — 2 — 24 — 4
Personal, small business and other0.08 25 1 — 1 23 8 187
Total0.48 %$1,559 $1,432 $52 $41 $34 
In offices outside North America(4)
Residential mortgages0.15 %$37 $— $— $34 $3 2 %18912
Credit cards0.13 17 17 — — — 23 — — 
Personal, small business and other0.09 30 6 5 — 19 7 25— 
Total0.12 %$84 $23 $5 $34 $22 

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period. During the years ended December 31, 2025 and 2024, Citi granted forgiveness of $1 million and $1 million in residential first mortgage loans, $134 million and $81 million in credit card loans and $3 million and $3 million in personal, small business and other loans, respectively. As a result, there were no outstanding balances as of December 31, 2025 and 2024.
(2)    Commitments to lend to borrowers experiencing financial difficulty that were granted modifications included in the tables above were immaterial at December 31, 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 years ended December 31, 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 years ended December 31, 2025 and 2024:

As of December 31, 2025
In millions of dollarsTotal Current
30–89 days
past due
90+ days
past due		Gross
credit losses
In North America offices(1)
Residential first mortgages$380 $128 $28 $224 $— 
Home equity loans3 1 — 2 — 
Credit cards1,525 1,190 212 123 277 
Personal, small business and other29 26 2 1 2 
Total(2)
$1,937 $1,345 $242 $350 $279 
In offices outside North America(1)
Residential mortgages$35 $32 $2 $1 $1 
Credit cards27 23 3 1 1 
Personal, small business and other40 32 6 2 1 
Total(2)
$102 $87 $11 $4 $3 

As of December 31, 2024
In millions of dollarsTotal 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 loans3 1 — 2 — 
Credit cards1,432 1,081 211 140 291 
Personal, small business and other25 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 cards17 16 1 — — 
Personal, small business and other30 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 years ended December 31, 2025 and 2024. Default is defined as 60 days past due:

 
For the year ended December 31, 2025
In millions of dollars
Total(1)(2)
Interest rate reductionTerm
extension		Payment
delay		 Combination: interest rate reduction and term extension Combination: term extension and payment delayCombination: interest rate reduction, term extension and payment delay
In North America offices(3)
   
Residential first mortgages$34 $1 $21 $— $12 $— $— 
Home equity loans— — — — — — — 
Credit cards(4)
165 165 — — — — — 
Personal, small business and other2 — — — 2 — — 
Total$201 $166 $21 $— $14 $— $— 
In offices outside North America(3)
Residential mortgages$5 $— $— $4 $1 $— $— 
Credit cards(4)
3 3 — — — — — 
Personal, small business and other9 1 — — 8 — — 
Total$17 $4 $— $4 $9 $— $— 

 
For the year ended December 31, 2024
In millions of dollars
Total(1)(2)
Interest rate reductionTerm
extension		Payment
delay		 Combination: interest rate reduction and term extension Combination: term extension and payment delayCombination: interest rate reduction, term extension and payment delay
In North America offices(3)
   
Residential first mortgages$31 $— $28 $— $3 $— $— 
Home equity loans— — — — — — — 
Credit cards(4)
211 211 — — — — — 
Personal, small business and other1 — — — 1 — — 
Total$243 $211 $28 $— $4 $— $— 
In offices outside North America(3)
Residential mortgages$4 $— $— $4 $— $— $— 
Credit cards(4)
1 1 — — — — — 
Personal, small business and other5 — — — 5 — — 
Total$10 $1 $— $4 $5 $— $— 

(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.