UPDATE 2-Citigroup profit jumps as legal, restructuring costs fall

April 16, 2015 12:11 PM

52 0

April 16 (Reuters) - Citigroup Inc, the third biggest U.S. bank by assets, reported a 16 percent jump in quarterly profit, beating analysts' estimates, as legal and restructuring costs plunged.

Citi has been cutting costs and simplifying its structure by selling retail operations in a number of countries, shrinking its U.S. branch network and selling non-core businesses.

Also read: Coca-Cola's revenue beats on higher soda prices in North America

Read more

To category page