Citi posts Q4 profit, revenue surge; braces for energy sector loss
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New York
PROFIT and revenue rose at Citigroup for the fourth quarter, but investors looked past those gains on Friday and fretted about the bank's ability to weather turmoil in the emerging markets and oil industry.
Citigroup said on Friday that its profit, after adjusting for certain debt valuations, surged to about US$3.4 billion - up from the meager US$340 million that the bank earned for the quarter a year ago when it was weighed down by huge legal expenses related to a series of government investigations.
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