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

April 16, 2015 12:11 PM

56 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: Brazil's Agriculture minister says meat industry may lose 10 percent market share

Read more

To category page