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

April 16, 2015 12:11 PM

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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.

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