Citigroup posts $5.44b Q1 net income
Citigroup, a global financial services company and the parent company of Citibank, NA, has posted a $5.44 billion net income after tax for the first three months that ended on March 31, 2005.The profit is a 3 percent increase over the first quarter of 2004. The revenues have also increased by 6 percent to $21.5 billion, says a press release. First quarter results include a $272 million after-tax charge for repositioning costs comprised of $151 million in corporate and investment banking, $95 million in global consumer, $22 million in global wealth management and $4 million in asset management.
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