Citi leapt towards its target Common Equity Tier 1 capital ratio in the third quarter after paying out to shareholders.

The New York-based lender reported CET1 capital equal to 11.6% of standardised risk-weighted assets (RWAs), down from 11.9% at end-June and 11.7% the same quarter a year ago. The ratio is now just 10 basis points above its 11.5% target, which it wants to hit by year-end.