Citigroup reports record fourth-quarter profits
Friday, January 21, 2005
NEW YORK -- Citigroup Inc., the nation's largest financial institution, reported record profits for the fourth quarter but said that 2005 earnings could be at the low end of Wall Street expectations. On Wednesday, JPMorgan Chase & Co., the No. 2 bank behind Citigroup, missed its earnings target amid charges for the integration of Bank One operations. A day earlier, Bank of America Corp., the nation's third biggest bank, reported sharply higher fourth-quarter earnings that matched Wall Street expectations.
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