Citigroup targets 11% to 13% near-term return on tangible assets

May 7 (Reuters) – Citigroup is targeting an adjusted return on tangible common equity of 11% to 13% for 2027 and 2028, the bank said ahead of its investor day on Thursday.

The new targets compare with Citi’s ambition of achieving an ROTCE between 10% and 11% this year. The metric is an important industry figure that measures profitability on tangible assets.

(Reporting by Tatiana Bautzer in New York and Utkarsh Shetti in Bengaluru; Editing by Arun Koyyur)