Citigroup Flags Higher Expenses, Stock Falls, Casting Doubt on 11–13% ROTAE Target

Reuters reported on July 15 that Citigroup flagged higher expenses, triggering a sharp stock decline and analyst estimate revisions. The warning complicates the 11–13% return on tangible assets target Citi set at its May 2026 investor day. The bank did not retract the range. The cost flag does not formally change the target but questions the trajectory's credibility.