Citigroup quarterly profits rise 4pc
Monday, 14 April 2014
US bank Citigroup has announced that it made profits of $3.9 billion in the first three months of 2014, despite having a "difficult" quarter. The bank's net income rose 4 per cent compared with the same period last year. Citigroup discovered fraud in its Mexican subsidiary and failed a Federal Reserve stress test during the quarter. Chief executive Michael Corbat said the company was working with the Federal Reserve "to better understand their expectations", according to a news agency.