Citi sees FY25 reported expenses slightly lower than $53.8B

Sees investments in process improvement, automation and modernization to move away from manual work; Investments in data and technology to enhance regulatory reporting and improve efficiency; Continued investments in technology, digital capabilities and platform modernization in both TTS and Securities Services; Product innovation in cards portfolios; Talent and client experience in Wealth and Banking; Higher volume-related expenses as revenue grows, including higher compensation, and higher advertising and marketing expenses; Risk and control investments, including cyber; Continued investment, including in automation and generative AI, to enhance productivity and controls; Benefits from the organizational simplification; Further reduction of stranded costs; Increase in productivity saves. The company expects to continue positive operating leverage in 2025.