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Lower legal bill boosts Citi profit but core revenue weak
January 15, 2016 by elegant · Leave a Comment
Citigroup Inc reported a massive jump in quarterly profit as a sharp drop in legal costs and gains from the disposal of unwanted assets masked weak revenue from its core business. Shares of Citi, which was displaced by Wells Fargo & Co as the No.3 U.S. bank by assets, fell as much as 7.2 percent to a near three-year low of $42.11 on Friday. Most banks have resorted to aggressive
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Lower legal bill boosts Citi profit but core revenue weak