Citigroup Profits Rise 11 Percent

January 17, 2001

Citigroup Inc.’s fourth-quarter profits rose 11 percent, helped by solid growth in its consumer banking business. The company earned $3.33 billion or 65 cents a share, in the quarter, compared with $3 billion, or 58 cents, in the same quarter 1999. Citigroup’s fourth-quarter 2000 results included $146 million in charges, mostly for a transportation loss provision for the truck loan and leasing portfolio of Associates First Capital Corp., which it bought last November. The charges resulted in a net loss of 6 percent.

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