Citigroup (C) has managed to keep its efficiency ratio below 60% in recent quarters helped by retail growth, higher net interest margins, and lower provisioning. Banks (XLF) have benefited from higher net interest margins resulting in improved efficiency ratios. However, with retail lending, provisions for credit card loans have increased in select regions. In 1Q18, Citigroup managed to maintain an efficiency ratio of 58%, in line with the prior-year ratio and lower by 100 basis points sequentially. The improvement was mainly due to the reserve release on its credit card portfolio.