1/14, 2:02 PM (Source: TeleTrader)
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Citigroup's Q4 net income down by 26% to $3.17B

Citigroup Inc. announced on Friday that its fourth-quarter revenue saw an annual rise of only 1% to $17.02 billion. Both its income from continuing operations and its net income declined by 26% in comparison to the same period in 2020 to $3.18 billion and $3.17 billion, respectively. Meanwhile, its diluted earnings per share decreased by 24% year-on-year to $1.46 per share.

"We had a decent end to 2021 driving net income for the year up to $22 billion in what was a far better credit environment than the previous year. [...] We continue to transform our bank with a focus on simplification and building a culture of excellence," the company's Chief Executive Officer (CEO) Jane Fraser said.

Following the release of the report, Citigroup's shares sank by 3.45% in premarket trading.

Baha Breaking News (BBN) / JR