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Cultura

Citigroup profit jumps as legal, restructuring costs fall


    (Reuters) - Citigroup Inc, the third biggest U.S. bank by assets, reported a 16 percent jump in quarterly profit on Thursday as legal and restructuring costs plunged.

    Citi has been cutting costs and simplifying its structure by selling retail operations in a number of countries, shrinking its U.S. branch network and selling non-core businesses.

    The bank's adjusted net income rose to $4.82 billion, or $1.52 per share, in the first quarter ended March 31 from $4.15 billion, or $1.30 per share, a year earlier.

    Analysts on average had expected earnings of $1.39 per share, according to Thomson Reuters I/B/E/S.

    It was not immediately clear if the figures reported were comparable.

    (Reporting by David Henry in New York and Anil D'Silva in Bengaluru; Editing by Kirti Pandey)