Citigroup kept a lid on costs and that helped boost its bottom line last quarter. The big bank continues to slim down following the financial crisis.
CUTTING EXPENSES: The bank was able to cut expenses and legal costs across its businesses, more than offsetting a decline in revenues. Citi's expenses fell to $10.9 billion in the quarter, from $12.2 billion a year earlier. Legal expenses dropped to $387 million from $945 million.