Citigroup's price-to-book ratio rose to 1 for the first time in seven years, closing the gap with other Wall Street giants.

Since September 2018, investors have for the first time believed that the trading value of Citigroup Group is at least equal to the total value of its various assets. For CEO Jane Fraser, who is pushing forward a plan to turn the company's losses around, this is undoubtedly a boost. Citigroup's market value on Friday rose to the level of its asset value, indicating that the bank is gradually moving away from its lagging position. The price-to-book ratio is a valuation indicator that investors in the banking sector pay close attention to. Because regulatory authorities place a high value on book value, and the banking industry's business model may lead to significant profit fluctuations, the price-to-book ratio can provide a more stable reference for investment banking professionals compared to other commonly used metrics such as price-to-earnings ratios in other industries.