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Citi profit rises 17% as fixed-income trading jumps

Citi profit rises 17% as fixed-income trading jumps

Thursday, April 13, 2017, 6:06 PM

Citigroup-Inc reported a 17% rise in quarterly profit, boosted by strong fixed-income trading as clients adjusted their positions following rate-hikes by the Federal Reserve and changes in the forex and credit markets. The fourth-biggest U.S. bank by assets said on Thursday that net income rose to $4.09 billion, or $1.35/share, in the first-quarter ended March 31, from $3.50 billion, or $1.10/share, a year earlier.
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