Citigroup has reported its first quarterly net profit in nearly two years, the latest US bank to see an improvement in its performance. It made a profit of $1.6bn (£1.1bn) compared with a loss of $5.1bn a year earlier. Revenues rose 99% to $24.8bn. However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss. [via BBC NEWS]
Citigroup results beat forecasts
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