| ALLOWANCE FOR CREDIT LOSSES |
ALLOWANCE FOR CREDIT LOSSES | | | | | | | | | | | | | In millions of dollars | 2025 | 2024 | 2023 | | Allowance for credit losses on loans (ACLL) at beginning of year | $ | 18,574 | | $ | 18,145 | | $ | 16,974 | | | Adjustments to opening balance | | | | Financial instruments—TDRs and vintage disclosures(1) | — | | — | | (352) | | | Adjusted ACLL at beginning of year | $ | 18,574 | | $ | 18,145 | | $ | 16,622 | | | Gross credit losses on loans | $ | (11,099) | | $ | (10,694) | | $ | (7,881) | | | Gross recoveries on loans | 2,002 | | 1,694 | | 1,444 | | | Net credit losses on loans (NCLs) | $ | (9,097) | | $ | (9,000) | | $ | (6,437) | | | Replenishment of NCLs | $ | 9,097 | | $ | 9,000 | | $ | 6,437 | | | Net reserve builds (releases) for loans | 368 | | 791 | | 1,272 | | | Net specific reserve builds (releases) for loans | 32 | | (65) | | 77 | | | Total provision for credit losses on loans (PCLL) | $ | 9,497 | | $ | 9,726 | | $ | 7,786 | | Initial allowance for credit losses on newly purchased credit-deteriorated assets during the period(2) | — | | 23 | | — | | | Other, net (see table below) | 273 | | (320) | | 174 | | | ACLL at end of year | $ | 19,247 | | $ | 18,574 | | $ | 18,145 | | Allowance for credit losses on unfunded lending commitments (ACLUC) at beginning of year(3) | $ | 1,601 | | $ | 1,728 | | $ | 2,151 | | | | | | | Provision (release) for credit losses on ACLUC | 202 | | (119) | | (425) | | | Other, net | 30 | | (8) | | 2 | | ACLUC at end of year(3) | $ | 1,833 | | $ | 1,601 | | $ | 1,728 | | | Total ACLL and ACLUC | $ | 21,080 | | $ | 20,175 | | $ | 19,873 | | | Allowance for credit losses on other assets at beginning of year | $ | 1,865 | | $ | 1,788 | | $ | 123 | | | NCLs on other assets | (46) | | (26) | | (72) | | | Provision (release) for credit losses on other assets | 467 | | 362 | | 1,762 | | Other, net(4) | (2,139) | | (259) | | (25) | | | Allowance for credit losses on other assets at end of year | $ | 147 | | $ | 1,865 | | $ | 1,788 | | | Allowance for credit losses on HTM debt securities at beginning of year | $ | 137 | | $ | 95 | | $ | 120 | | | Provision (release) for credit losses on HTM debt securities | 12 | | 50 | | (24) | | | Other, net | (3) | | (8) | | (1) | | | Allowance for credit losses on HTM debt securities at end of year | $ | 146 | | $ | 137 | | $ | 95 | | | Total ACL | $ | 21,373 | | $ | 22,177 | | $ | 21,756 | |
| | | | | | | | | | | | | Other, net details (ACLL) | | | | | In millions of dollars | 2025 | 2024 | 2023 | | | | | | | | | | | | | | | | | | | | | | | | | | Reclasses of consumer ACLL to HFS | $ | (29) | | $ | — | | $ | — | | | FX translation and other | 302 | | (320) | | 174 | | | Other, net (ACLL) | $ | 273 | | $ | (320) | | $ | 174 | |
(1)See “Accounting Changes” in Note 1. (2)Upon acquisition, the par value of the purchased credit-deteriorated assets was approximately $24 million, $52 million and $26 million during the years ended December 31, 2025, 2024 and 2023, respectively. The related ACLL amounts were immaterial. (3)Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet. (4)The decrease at December 31, 2025 in Other ACL reflects the $2.6 billion reclassification of AO Citibank to held-for-sale, including the related ACL, resulting from Citi’s planned sale of AO Citibank (which was sold on February 18, 2026) (see “Sale of AO Citibank” in Note 2), partially offset by FX translation. Allowance for Credit Losses on Loans (ACLL) and End-of-Period Loans at December 31, 2025
| | | | | | | | | | | | | | | | In millions of dollars | Corporate | Consumer | Total | | | | | ACLL at beginning of year | $ | 2,556 | | $ | 16,018 | | $ | 18,574 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Charge-offs | (442) | | (10,657) | | (11,099) | | | | | | Recoveries | 77 | | 1,925 | | 2,002 | | | | | | Replenishment of NCLs | 365 | | 8,732 | | 9,097 | | | | | | Net reserve builds (releases) | 422 | | (54) | | 368 | | | | | | Net specific reserve builds (releases) | 20 | | 12 | | 32 | | | | | | | | | | | | | Other | 55 | | 218 | | 273 | | | | | | Ending balance | $ | 3,053 | | $ | 16,194 | | $ | 19,247 | | | | | | ACLL | | | | | | | | Collectively evaluated | $ | 2,730 | | $ | 16,144 | | $ | 18,874 | | | | | | Individually evaluated | 323 | | 51 | | 374 | | | | | | Purchased credit deteriorated | — | | (1) | | (1) | | | | | | Total ACLL | $ | 3,053 | | $ | 16,194 | | $ | 19,247 | | | | | | Loans, net of unearned income | | | | | | | | Collectively evaluated | $ | 334,892 | | $ | 408,225 | | $ | 743,117 | | | | | | Individually evaluated | 2,001 | | 149 | | 2,150 | | | | | | Purchased credit deteriorated | — | | 108 | | 108 | | | | | | Held at fair value | 6,804 | | 51 | | 6,855 | | | | | | Total loans, net of unearned income | $ | 343,697 | | $ | 408,533 | | $ | 752,230 | | | | |
Changes in the ACL (December 31, 2025 vs. December 31, 2024) The total allowance for credit losses on loans, leases, unfunded lending commitments, other assets and HTM debt securities (in aggregate, total ACL) as of December 31, 2025 was $21,373 million, a decrease of $804 million from $22,177 million at December 31, 2024, driven by the reclassification of AO Citibank to held-for-sale, including the related ACL, resulting from Citi’s planned sale of AO Citibank (which was sold on February 18, 2026), largely offset by ACL builds and changes in FX during the year.
Consumer ACLL Citi’s total consumer allowance for credit losses on loans (ACLL) as of December 31, 2025 was $16,194 million, an increase of $176 million from $16,018 million at December 31, 2024. The increase was driven by changes in the macroeconomic outlook, FX translation on the ACLL and higher volume, largely offset by changes in credit quality.
Corporate ACLL Citi’s total corporate ACLL as of December 31, 2025 was $3,053 million, an increase of $497 million from $2,556 million at December 31, 2024. The increase was primarily driven by changes in credit quality, changes in the macroeconomic outlook and higher net lending activity.
ACLUC As of December 31, 2025, Citi’s total allowance for unfunded lending commitments (ACLUC), included in Other liabilities, was $1,833 million, an increase of $232 million from $1,601 million at December 31, 2024. The increase was primarily driven by changes in the macroeconomic outlook, changes in credit quality and higher net lending activity.
ACL on Other Assets As of December 31, 2025, Citi’s total allowance on other assets was $147 million, a decrease of $1,718 million from $1,865 million at December 31, 2024. The decrease was driven by the reclassification of AO Citibank to held-for-sale, including the related ACL, resulting from Citi’s planned sale of AO Citibank (which was sold on February 18, 2026).
Allowance for Credit Losses on Loans (ACLL) and End-of-Period Loans at December 31, 2024
| | | | | | | | | | | | | In millions of dollars | Corporate | Consumer | Total | | ACLL at beginning of year | $ | 2,714 | | $ | 15,431 | | $ | 18,145 | | | | | | | | | | | | | | | Charge-offs | (493) | | (10,201) | | (10,694) | | | Recoveries | 96 | | 1,598 | | 1,694 | | | Replenishment of NCLs | 397 | | 8,603 | | 9,000 | | | Net reserve builds (releases) | (67) | | 858 | | 791 | | | Net specific reserve builds (releases) | (63) | | (2) | | (65) | | Initial allowance for credit losses on newly purchased credit-deteriorated assets during the year(1) | — | | 23 | | 23 | | | Other | (28) | | (292) | | (320) | | | Ending balance | $ | 2,556 | | $ | 16,018 | | $ | 18,574 | | | ACLL | | | | | Collectively evaluated | $ | 2,254 | | $ | 15,967 | | $ | 18,221 | | | Individually evaluated | 302 | | 38 | | 340 | | | Purchased credit deteriorated | — | | 13 | | 13 | | | Total ACLL | $ | 2,556 | | $ | 16,018 | | $ | 18,574 | | | Loans, net of unearned income | | | | | Collectively evaluated | $ | 292,250 | | $ | 392,562 | | $ | 684,812 | | | Individually evaluated | 1,377 | | 134 | | 1,511 | | | Purchased credit deteriorated | — | | 125 | | 125 | | | Held at fair value | 7,759 | | 281 | | 8,040 | | | Total loans, net of unearned income | $ | 301,386 | | $ | 393,102 | | $ | 694,488 | |
(1)Upon acquisition, the par value of the purchased credit-deteriorated assets was approximately $52 million during the year ended December 31, 2024.
Allowance for Credit Losses on Loans (ACLL) at December 31, 2023
| | | | | | | | | | | | | | | | In millions of dollars | Corporate | Consumer | Total | | | | | ACLL at beginning of year | $ | 2,855 | | $ | 14,119 | | $ | 16,974 | | | | | | Adjustments to opening balance: | | | | | | | Financial Instruments—TDRs and vintage disclosures(1) | — | | (352) | | (352) | | | | | | Adjusted ACLL at beginning of year | $ | 2,855 | | $ | 13,767 | | $ | 16,622 | | | | | | Charge-offs | $ | (328) | | $ | (7,553) | | $ | (7,881) | | | | | | Recoveries | 78 | | 1,366 | | 1,444 | | | | | | Replenishment of NCLs | 250 | | 6,187 | | 6,437 | | | | | | Net reserve builds (releases) | (168) | | 1,440 | | 1,272 | | | | | | Net specific reserve builds (releases) | 39 | | 38 | | 77 | | | | | | | | | | | | | Other | (12) | | 186 | | 174 | | | | | | Ending balance | $ | 2,714 | | $ | 15,431 | | $ | 18,145 | | | | |
(1) See “Accounting Changes” in Note 1.
For the ACL on AFS debt securities, see Note 14. Allowance for Credit Losses on Other Assets
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2025 | | In millions of dollars | | Deposits with banks | Securities borrowed and purchased under agreements
to resell | | All other assets(1) | Total | | Allowance for credit losses on other assets at beginning of year | | $ | 25 | | $ | 3 | | | $ | 1,837 | | $ | 1,865 | | | | | | | | | | Gross credit losses | | — | | — | | | (80) | | (80) | | | Gross recoveries | | — | | — | | | 34 | | 34 | | | Net credit losses (NCLs) | | $ | — | | $ | — | | | $ | (46) | | $ | (46) | | | Replenishment of NCLs | | $ | — | | $ | — | | | $ | 46 | | $ | 46 | | | Net reserve builds (releases) | | (2) | | 2 | | | 421 | | 421 | | | Total provision for credit losses | | $ | (2) | | $ | 2 | | | $ | 467 | | $ | 467 | | Other, net(2) | | $ | — | | $ | — | | | $ | (2,139) | | $ | (2,139) | | | Allowance for credit losses on other assets at end of year | | $ | 23 | | $ | 5 | | | $ | 119 | | $ | 147 | |
(1)Primarily ACL related to transfer risk associated with exposures outside the U.S. (2)The decrease at December 31, 2025 in Other ACL reflects the $2.6 billion reclassification of AO Citibank to held-for-sale, including the related ACL, resulting from Citi’s planned sale of AO Citibank (which was sold on February 18, 2026) (see “Sale of AO Citibank” in Note 2), partially offset by FX translation.
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2024 | | In millions of dollars | | Deposits with banks | Securities borrowed and purchased under agreements
to resell | | All other assets(1) | Total | | Allowance for credit losses on other assets at beginning of year | | $ | 31 | | $ | 27 | | | $ | 1,730 | | $ | 1,788 | | | | | | | | | | | | | | | | | Gross credit losses | | — | | — | | | (53) | | (53) | | | Gross recoveries | | — | | — | | | 27 | | 27 | | | Net credit losses (NCLs) | | $ | — | | $ | — | | | $ | (26) | | $ | (26) | | | Replenishment of NCLs | | $ | — | | $ | — | | | $ | 26 | | $ | 26 | | | Net reserve builds (releases) | | (7) | | (23) | | | 366 | | 336 | | | Total provision for credit losses | | $ | (7) | | $ | (23) | | | $ | 392 | | $ | 362 | | | Other, net | | $ | 1 | | $ | (1) | | | $ | (259) | | $ | (259) | | | Allowance for credit losses on other assets at end of year | | $ | 25 | | $ | 3 | | | $ | 1,837 | | $ | 1,865 | |
(1)Primarily ACL related to transfer risk associated with exposures outside the U.S.
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2023 | | In millions of dollars | | Deposits with banks | Securities borrowed and purchased under agreements
to resell | | All other assets(1) | Total | | Allowance for credit losses on other assets at beginning of year | | $ | 51 | | $ | 36 | | | $ | 36 | | $ | 123 | | | | | | | | | | Gross credit losses | | — | | — | | | (97) | | (97) | | | Gross recoveries | | — | | — | | | 25 | | 25 | | | Net credit losses (NCLs) | | $ | — | | $ | — | | | $ | (72) | | $ | (72) | | | Replenishment of NCLs | | $ | — | | $ | — | | | $ | 72 | | $ | 72 | | | Net reserve builds (releases) | | (19) | | 14 | | | 1,695 | | 1,690 | | | Total provision for credit losses | | $ | (19) | | $ | 14 | | | $ | 1,767 | | $ | 1,762 | | | Other, net | | $ | (1) | | $ | (23) | | | $ | (1) | | $ | (25) | | | Allowance for credit losses on other assets at end of year | | $ | 31 | | $ | 27 | | | $ | 1,730 | | $ | 1,788 | |
(1)Primarily ACL related to transfer risk associated with exposures outside the U.S.
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