Citi first-quarter profit falls 32 percent

Reuters News
Posted: Apr 18, 2011 8:09 AM

NEW YORK (Reuters) - Citigroup Inc's first-quarter profit fell 32 percent as the bank lost less money on bad loans but struggled to grow its business.

The third-largest U.S. bank said on Monday it earned $3.0 billion, or 10 cents per share. That compared with $4.4 billion, or 15 cents per share, a year earlier.

(Reporting by Maria Aspan; editing by John Wallace)