Citigroup posts best results in nearly three years
Citigroup posted a $4.43-billion first-quarter profit, its best result in nearly three years, as the economic recovery reduced the bank's credit losses and increased prices on even its worst assets.
In yet another sign that the American economy is facing major problems, Citigroup ``reported a staggering fourth-quarter loss of $9.83 billion on Tuesday and issued a sobering forecast that the housing market and the broader economy still had not bottomed out.''