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Citigroup posts profit on Smith Barney gain

Citigroup posts profit on Smith Barney gain

Citigroup Inc, one of the big U.S. banks hit hardest by the financial crisis, posted a quarterly profit as gains from the sale of its Smith Barney brokerage into a joint venture more than offset losses from its primary banking businesses.

 

Citi, FDIC in Private Negotiations

Citigroup has been negotiating with the FDIC about entering into a so-called memorandum of understanding that lets the bank work out its problems without the glare of outside attention.

 

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