Citigroup Inc (C.N) said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The company said in a statement the matter involved about $585 million in short-term credit extended by its Banamex unit to Oceanografia SA de […]
Tag: Michael Corbat
Citi Clears the Deck on Q4 Earnings
Citigroup (C) reported earnings well below analysts expectations for the fourth-quarter sending shares lower in early trading. The jumbo-sized super bank saw trading revenues rebound but took a $2.32 billion charge for legal fees and lay-offs. New CEO Michael Corbat said the company continues to be hampered by regulatory matters […]
