Citigroup fourth-quarter profit falls

Citigroup Inc. (C.N: Quote, Profile , Research) said on Friday that fourth-quarter profit fell from a year earlier, when it took a one-time gain, although the company benefited from growth in investment banking.

Net income for the New York-based company fell to $5.13 billion, or $1.03 per share, from $6.93 billion, or $1.37 a share, a year earlier, when Citigroup recorded a $2.1 billion gain from selling its asset management business.

Earnings from continuing operations rose to $5.13 billion, or $1.03 per share, from $4.97 billion, or 98 cents a share.
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