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Citigroup Q3 profit up 7.6% on asset sale benefit, cost cuts

The fourth-biggest US bank by assets said on Thursday that net income rose to $4.13 billion in the third quarter

Reuters 

Citigroup Inc reported a 7.6 per cent increase in quarterly profit from a gain on an asset sale, lower costs and better-than-expected trading revenue. The fourth-biggest US bank by assets said on Thursday that net income rose to $4.13 billion in the third quarter ended Sept. 30 from $3.84 billion a year earlier. Earnings per share rose about 15 percent to $1.42 from $1.24 as the company shrank the number of shares outstanding by 7 per cent- buying back stock under its biggest capital return plan approved by the US Federal Reserve. Results included a $355 million gain, ...

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First Published: Thu, October 12 2017. 19:46 IST
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