Citigroupon Wednesday posted fourth quarter results that topped expectations as the lender set aside less money for troubled loans than analysts had expected.

Here’s what the company reported:

• Adjusted earnings:$1.81 a share vs. $1.67 LSEG estimate
• Adjusted revenue:$21.0 billion vs. expected $20.72 billion

The company said net income fell 13% from the year earlier period to $2.47 billion, or $1.19 per share, because of a $1.1 billion after tax loss tied its plan to divest Citigroup’s Russian operations. Excluding the charge, profit was $3.6 billion, or $1.81 per share.

Revenue excluding the Russia-related charge rose 8% to $21.0 billion on increases in banking, wealth and institutional services results.

Under CEO Jane Fraser, Citigroup is in the midst of a restructuring, selling off parts of its overseas operations, while also benefiting from U.S. banking deregulation.

Those are the reasons Wells Fargo banking analyst Mike Mayo calls Citigroup his top pick among bank stocks.

Analysts will be keen to hear whether Fraser sees momentum from last year carrying over into 2026.

On Tuesday,JPMorgan Chaseposted results that exceeded expectations on better-than-expected trading revenue.Bank of AmericaandWells Fargoare also releasing Q4 results Wednesday, whileGoldman SachsandMorgan Stanleyare scheduled for Thursday.

This story is developing. Please check back for updates.