Citigroup said its board of directors authorized a new multiyear $20 billion stock buyback program that will begin in the first quarter of 2025, helping to trigger a surge in the share price. CFO Mark Mason said the planned buyback reflects confidence in the bank’s strategy.

Citigroup stock is soaring Wednesday after the big bank topped earnings expectations and unveiled a massive stock buyback program. Here's why that's important.

The bank unveiled stronger-than-expected results for the fourth quarter, in which revenue rose across all five of its main business lines.

Citigroup Inc. is anticipating a 10th straight year of gains for India’s $5 trillion stock market, driven by a recovery in economic growth as well as robust corporate earnings.

Citigroup (C) reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday. Citi's net income for the fourth quarter was $2.86 billion, up from a loss of $1.