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Reuters
Citi swings to $1.8 billion loss on slew of charges

Fri, January 12, 2024 at 2:03 PM GMT+1
By Tatiana Bautzer and Manya Saini

Citigroup on Friday reported a $1.8 billion loss for the fourth quarter as it recorded charges to refill a government deposit insurance fund and carry out a sweeping internal reorganization.

The loss was also fueled by the bank stockpiling money to cover currency risks in Argentina and Russia.

The third-largest U.S. lender by assets posted a loss of $1.16 per share for the three months ended Dec. 31. The results were eroded by $3.8 billion in combined charges and reserves that Citigroup disclosed in a filing on Wednesday.

https://finance.yahoo.com/news/citi-swin...33978.html