Citigroup fourth-quarter profit falls 11 percent

Reuters News
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Posted: Jan 17, 2012 8:14 AM

(Reuters) - Citigroup Inc's fourth-quarter profit fell 11 percent as revenue declined amid slower capital markets and operating expenses increased.

The third-largest U.S. bank by assets reported net income of $1.16 billion, or 38 cents per share, down from $1.31 billion, or 43 cents per share, a year earlier.

(Reporting by David Henry in New York; editing by John Wallace)