For the twelve months ended December 31, 2005, Citigroup's after tax net income was US$ 24.58 billion, a 44 percent increase over 2004. The revenue for 2005 was a record of US$ 83.6 billion reflecting an increase of five percent over 2004, says a press release.

"Our results for the fourth quarter reflect the benefit of strong customer volume growth, which drove double-digit revenue increases in several franchises, including 13 percent growth in our international revenues. Our results also include a $600 million pre-tax release of WorldCom/Research litigation reserves, which reflects our continued progress in favourably resolving these matters," said Charles Prince, chief executive officer of Citigroup.

"As we move in to 2006, we see significant opportunities to grow our franchises. We are already increasing the pace of our distribution expansion and working to provide our customers with a more integrated set of products and services, yet a more simplified experience," said Prince.-