Compare · Financials
Bank of America vs. Citigroup: how they make money
The same facts for both companies, in the same order, from each company's own page and filings. This is not a ranking and says nothing about which share to own.
Each company in 5 points
Bank of America
1 · What it sells
Bank of America takes deposits, makes loans, runs the Merrill wealth business and trades for institutional investors, with revenue of $113.1 billion in FY2025.
Sources and detail on the Bank of America page2 · Who pays it
Bank of America does not split revenue by customer; in FY2025, 53% of revenue was net interest income from borrowers and securities and 47% was fees, trading and other income.
Sources and detail on the Bank of America page3 · What it keeps from $100
Of every $100 that came in during FY2025, Bank of America paid $41.0 in interest to depositors and lenders and kept $15.9 as profit, $15.2 of it for common stockholders.
Sources and detail on the Bank of America page4 · Where the operating profit comes from
Of FY2025 segment net income, Consumer Banking earned $12.2 billion, Global Banking $7.8 billion, Global Markets $6.1 billion and Global Wealth & Investment Management $4.7 billion, with a $0.3 billion loss in All Other.
Sources and detail on the Bank of America page5 · The one thing to watch
Bank of America's CET1 capital ratio was 10.9% at Sep 30, 2026, down from 11.9% at the end of FY2024, against a 10.0% regulatory minimum.
Sources and detail on the Bank of America page
Citigroup
1 · What it sells
Citigroup moves money, trades, lends and advises for companies and investors in nearly 160 countries and jurisdictions and issues U.S. credit cards, with revenue of $85.2 billion in FY2025.
Sources and detail on the Citigroup page2 · Who pays it
Companies, governments and institutions brought in 60% of FY2025 revenue through Services, Markets and Banking, U.S. cardholders and retail-bank customers 25%, wealth clients 10% and other businesses 5%.
Sources and detail on the Citigroup page3 · What it keeps from $100
Of every $100 that came in during FY2025, Citi paid $49.4 in interest to depositors and lenders and kept $8.6 as profit, after a $1.2 billion Russia loss and a $726 million Banamex impairment.
Sources and detail on the Citigroup page4 · Where the operating profit comes from
Services earned $7.1 billion of FY2025 income from continuing operations, Markets $5.9 billion, U.S. Personal Banking $3.1 billion, Banking $2.3 billion and Wealth $1.5 billion, while All Other lost $5.5 billion.
Sources and detail on the Citigroup page5 · The one thing to watch
Citi held 51% of Banamex's voting stock at Sep 30, 2026 and expects an approximate $9 billion loss when it deconsolidates Banamex in early 2027, the CFO said on Oct 13, 2026.
Sources and detail on the Citigroup page
Where each $100 went
Each company's own receipt for its latest full fiscal year, with matching lines in the same order where both have them.
Bank of America
Where $100 went · FY2025
| Interest paid to depositors and lenders | $41.0 |
|---|---|
| Employees | $22.1 |
| Technology, buildings, marketing and other costs | $14.3 |
| Provision for credit losses | $3.0 |
| Income tax | $3.8 |
| Kept as profit | $15.9 |
| Total | $100 |
Cityfort calculation from the FY2025 10-K. Of every $100 that came in (interest income $138,566 million plus noninterest income $53,001 million = $191,567 million): each line = line ÷ $191,567 million × 100. Of the $15.9 kept, $15.2 was for common stockholders after preferred dividends.
Citigroup
Where $100 went · FY2025
| Interest paid to depositors and lenders | $49.4 |
|---|---|
| Employees | $17.6 |
| Technology, offices and other operating costs | $15.1 |
| Provisions for credit losses and for benefits and claims | $6.1 |
| Income tax | $3.2 |
| Kept as profit | $8.6 |
| Total | $100 |
Cityfort calculation from the FY2025 10-K. Of every $100 that came in (interest income $142,864 million plus noninterest revenue $25,433 million = $168,297 million): each line = line ÷ $168,297 million × 100. Profit is income from continuing operations, before $146 million to minority holders of subsidiaries and $1,114 million of preferred dividends.
Line items differ because each company groups its costs its own way in its filings. Only on Bank of America's receipt: Technology, buildings, marketing and other costs; Provision for credit losses. Only on Citigroup's receipt: Technology, offices and other operating costs; Provisions for credit losses and for benefits and claims.
Revenue, net income and free cash flow
Up to five fiscal years for each company, drawn on one shared scale per measure. Amounts in US$ as reported (GAAP).
Revenue
Bank of America
Citigroup
See the numbers
Net income
Bank of America
Citigroup
See the numbers
Free cash flow
Bank of America
Not on the Bank of America page.
Citigroup
Not on the Citigroup page.
See the numbers
Who pays each company
Bank of America
- Borrowers and the issuers of securities it holds · 53.1% of revenueInterest on loans, bonds and other assets, minus the interest Bank of America pays depositors and lenders (net interest income)
- Clients paying fees and trading spreads · 46.9% of revenueWealth and brokerage fees, investment banking fees, market making, card fees and account service charges (noninterest income)
Citigroup
- Companies, governments and institutions · 60.4% of revenueFees, interest and trading income in Services, Markets and Banking
- U.S. cardholders and retail-bank customers · 24.6% of revenueInterest and fees on credit cards and U.S. retail bank accounts (U.S. Personal Banking)
- Wealth clients · 10.0% of revenueAdvice, investment and lending fees and interest from wealthier clients
- Other businesses · 5.0% of revenueMexico consumer banking (Banamex), Korea and central treasury (All Other)
Revenue by segment
Bank of America
FY2025
| Segment | Revenue | Share |
|---|---|---|
| Consumer Banking | $43.7B | 38.4% |
| Global Wealth & Investment Management | $24.9B | 21.9% |
| Global Banking | $24.1B | 21.2% |
| Global Markets | $24.1B | 21.2% |
Citigroup
FY2025
| Segment | Revenue | Share |
|---|---|---|
| Markets | $22.0B | 25.8% |
| Services | $21.3B | 24.9% |
| U.S. Personal Banking | $21.0B | 24.6% |
| Wealth | $8.6B | 10.0% |
| Banking | $8.2B | 9.6% |
| All Other | $4.3B | 5.0% |
Debt and cash
Bank of America
Not on the Bank of America page.
Citigroup
Not on the Citigroup page.
Who owns each company
Bank of America
- One class of shares.
- Officers and directors as a group: 0.1% of shares (as of Mar 13, 2026).
- Berkshire Hathaway (Warren E. Buffett): 7.8% (as of Nov 14, 2025).
- BlackRock: 6.9% (as of Jan 29, 2024).
- Vanguard Capital Management: 6.6% (as of Apr 29, 2026).
Citigroup
- One class of shares.
- Officers and directors as a group: 0.1% of shares (as of Mar 23, 2026).
- Vanguard Capital Management: 7.2% (as of Apr 29, 2026).
- BlackRock, Inc.: 6.9% (as of Apr 24, 2025).
Sources: Bank of America S11, S5, S12, S15, S14, S13 · Citigroup S15, S4, S16, S17
Risks only one page tracks
Risks whose type the other company's page does not list. Both pages track risks of these types: pricing, regulation, demand. Every risk is on each company's page.
Bank of America
- Loan losses (other)Net charge-offs (loans written off, minus recoveries) rose from $2.2 billion in FY2021 to $6.0 billion in FY2024, then were $5.6 billion in FY2025. Credit card net charge-offs were 3.22% of card loans in Q3 FY2026.
- Compliance remediation (legal cases)FinCEN's October 2026 consent order and the December 2024 OCC consent order require remedial work on anti-money-laundering and sanctions programs. The company said it does not expect the ongoing costs to significantly affect noninterest expense.
- Cyberattacks (technology)The 10-K lists cybersecurity incidents at the bank and at third parties as a risk; about 49 million clients used its digital channels at the end of 2025.
Citigroup
- Banamex loss on deconsolidation (execution)Citi held 51% of Banamex's voting stock at Sep 30, 2026. The CFO said on Oct 13, 2026 that Citi expects an approximate $9 billion currency translation loss through earnings in early 2027, when it deconsolidates Banamex; Citi says the loss will be regulatory capital neutral.
- Card partner agreements (customer or supplier concentration)Citi's five largest co-brand and store card relationships made up about 12% of its FY2025 revenue. The agreements have fixed terms, and Citi says it may not keep them on existing terms or at all.
Sources: Bank of America S1, S3, S8, S5 · Citigroup S4, S20, S1
Key facts
- How does Bank of America make money compared with Citigroup?
- Bank of America's revenue by segment in FY2025: Consumer Banking 38.4%, Global Wealth & Investment Management 21.9%, Global Banking 21.2%, Global Markets 21.2%. Citigroup's revenue by segment in FY2025: Markets 25.8%, Services 24.9%, U.S. Personal Banking 24.6%, Wealth 10.0%, Banking 9.6%, and 1 more.
- Which is bigger by revenue, Bank of America or Citigroup?
- Bank of America reported $113.1B of revenue in FY2025, and Citigroup reported $85.2B in FY2025.
- How much net income did Bank of America and Citigroup report?
- Bank of America reported net income of $29.1B in FY2025, and Citigroup reported $13.2B in FY2025.
- How much of every $100 did Bank of America and Citigroup keep as net income?
- Bank of America kept $15.9 of every $100 that came in during FY2025, and Citigroup kept $8.6 in FY2025 (Cityfort calculation from each company's annual report).
- When do Bank of America's and Citigroup's fiscal years end?
- Bank of America: December 31. Citigroup: December 31.
Sources: Bank of America S3, S1, S2 · Citigroup S1, S3, S2, S6
Built from each company's page. Bank of America updated Nov 6, 2026; Citigroup updated Nov 6, 2026.
Sources
Bank of America
- S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025), Bank of America Corporation (SEC EDGAR), Feb 25, 2026
- S2Form 10-K, fiscal year 2024 (ended Dec 31, 2024), as originally reported, Bank of America Corporation (SEC EDGAR), Feb 25, 2025
- S3Form 10-K, fiscal year 2023 (ended Dec 31, 2023), Bank of America Corporation (SEC EDGAR), Feb 20, 2024
- S5Form 10-Q, third quarter 2026 (ended Sep 30, 2026), Bank of America Corporation (SEC EDGAR), Oct 30, 2026
- S8Q3 2026 Supplemental Information (8-K Exhibit 99.3, Oct 14, 2026), Bank of America Corporation (SEC EDGAR), Oct 14, 2026
- S112026 proxy statement (DEF 14A), Bank of America Corporation (SEC EDGAR), Mar 23, 2026
- S12Schedule 13G/A on Bank of America common stock filed by Warren E. Buffett and Berkshire Hathaway Inc. (event date Sep 30, 2025), Berkshire Hathaway Inc. (SEC EDGAR), Nov 14, 2025
- S13Schedule 13G/A on Bank of America common stock filed by The Vanguard Group (Jan 30, 2026), The Vanguard Group (SEC EDGAR), Jan 30, 2026
- S14Schedule 13G/A on Bank of America common stock filed by The Vanguard Group, reporting 0 shares (event date Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 26, 2026
- S15Schedule 13G on Bank of America common stock filed by Vanguard Capital Management (event date Mar 31, 2026), Vanguard Capital Management (SEC EDGAR), Apr 29, 2026
Citigroup
- S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025), Citigroup Inc. (SEC EDGAR), Feb 20, 2026
- S2Form 10-K, fiscal year 2023 (ended Dec 31, 2023), Citigroup Inc. (SEC EDGAR), Feb 23, 2024
- S3Form 10-K, fiscal year 2021 (ended Dec 31, 2021), Citigroup Inc. (SEC EDGAR), Feb 28, 2022
- S4Form 10-Q, third quarter 2026 (ended Sep 30, 2026), Citigroup Inc. (SEC EDGAR), Nov 5, 2026
- S6Form 10-Q, first quarter 2026 (ended Mar 31, 2026), Citigroup Inc. (SEC EDGAR), May 7, 2026
- S152026 proxy statement (DEF 14A), Citigroup Inc. (SEC EDGAR), Apr 2, 2026
- S16Schedule 13G, Vanguard Capital Management, Citigroup common stock (event Mar 31, 2026), Vanguard Capital Management (SEC EDGAR), Apr 29, 2026
- S17Schedule 13G/A, The Vanguard Group, Citigroup common stock (event Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 26, 2026
- S20Third quarter 2026 earnings call transcript (Oct 13, 2026), Citigroup Inc., Oct 13, 2026
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