The Traderszone Network

Published in TZ Latest News 15 January, 2016 by The TZ Newswire Staff

Citigroup profit leaps as legal bill shrinks

Citi, which has been restructuring to focus on more profitable businesses and promising markets, said net profit rose to $3.34 billion, or $1.02 per share, in the fourth quarter from $344 million, or 6 cents per share, a year earlier. Adjusted revenue rose 4.2 percent to $18.64 billion, but the increase came from gains on disposal of assets from Citi Holdings. Citi shares fell 2.5 percent in premarket trading on Friday.