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Citigroup (C.N) is targeting an adjusted return on tangible common equity of 11% to 13% ​for 2027 and 2028, the bank said on Thursday, ‌betting on CEO Jane Fraser's overhaul to drive stronger profitability.

The new targets compare with Citi's ambition of achieving an ROTCE between ​10% and 11% this year. The metric is ​an important industry figure that measures profitability on tangible ⁠assets.

The announcement comes ahead of Citi's investor day on Thursday, ​where the bank is expected to lay out medium-term ​goals for its businesses. Analysts had predicted ROTCE targets of up to 15% to 18% by the end of the decade.

Six years into ​her tenure, Fraser is heading her second investor day ​to present the results of a massive reorganization that shrank Citi ‌by ⁠selling retail businesses worldwide, eliminating management layers and increasing risk and controls.

Since Fraser took over in March 2021, Citi's shares have risen more than 80%. They are up more than ​9% so far ​this year, ⁠compared to an about 7.5% rise in the broader market.

Last month, the bank beat Wall ​Street expectations for first-quarter profit, raking in strong ​revenues ⁠from its trading business and also benefiting from robust dealmaking that lifted investment banking fees.

It posted an ROTCE of 13.1% ⁠in ​the quarter and reported its highest ​quarterly revenue in a decade at $24.6 billion.