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Citigroup to book US$2.7b in legal expenses for Q4

Thursday, December 11, 2014 - 05:50
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Mr Corbat has been trying to meet his profit targets for next year.

New York

CITIGROUP Inc will record US$2.7 billion in litigation expenses and another US$800 million in repositioning charges, leaving the third-largest US bank "marginally profitable" for the fourth quarter, its chief executive officer said on Tuesday.

Michael Corbat's announcement