Sunday, January 29, 2012

Citi misses Street; 4Q profit down 11 percent

In this Jan. 6, 2012 photo, a Citibank customer makes a transaction at an ATM, in New York. Citigroup said Tuesday, Jan. 17, 2012, its income fell 11 percent in the fourth quarter of 2011due to lower investment banking income, an accounting charge, and a decline in the value of its assets. (AP Photo/Mark Lennihan) Citigroup's loan portfolio improved late last year, partly because Americans were better about paying down credit card debt. But choppy financial markets hurt its investment banking profits, and the bank missed Wall Street expectations.


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