Citigroup's price-to-book ratio reaches 1 for the first time in seven years, marking a milestone in successful transformation

Citigroup's Price-to-Book Ratio reached 1 for the first time since September 2018, meaning its market value is at least equal to its asset value, reflecting significant progress in CEO Jane Fraser's transformation plan. Under Fraser's leadership, Citigroup has implemented a series of measures including upgrading back-end systems, layoffs, and exiting international retail operations, and she was appointed chair of the board in October, consolidating her power. Analysts view the Price-to-Book Ratio reaching 1 as an important milestone in the company's transition from "value destruction" to "value creation," and Citigroup's stock price has risen 55% this year, outperforming all Wall Street peers