New York (AFP) - Citigroup Thursday reported an 86 percent drop in fourth-quarter earnings due to a $3.5 billion charge for legal and repositioning costs.
Earnings for the fourth quarter were $350 million, down from $2.5 billion a year earlier. Like other large banks, Citigroup has faced costly government settlements and private litigation over charges it rigged interest rates and foreign exchange trades.
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by via Business Insider
