Citigroup profit rises 15per cent as credit card, trading revenue jump

REUTERS: Citigroup Inc reported a 15per cent jump in fourth-quarter profit on Tuesday, driven by higher credit card and trading revenue, as well as a lower tax bill.

Net income applicable to common shareholders rose to US$4.98 billion, or US$2.15 per share, in the three months ended Dec. 31, from US$4.31 billion, or US$1.64 per share, a year earlier.Excluding the impact of a tax benefit, the bank earned US$1.90 per share. Analysts on average had expected a profit of US$1.84 per share, according to IBES data from Refinitiv. It was not immediately clear if the reported numbers were comparable with the consensus estimate.

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