WASHINGTON (dpa-AFX) - Citigroup Inc. (C) on Thursday cut its third quarter earnings by $600 million, due to an increase in legal accruals resulting from rapidly evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters.
The company lowered its third quarter 2014 net income to $2.84 billion from the $3.44 billion previously reported on October 14.
Operating expenses rose to $12.96 billion from the previously reported $12.36 billion. The bank's capital ratios also fell.
Copyright RTT News/dpa-AFX
© 2014 AFX News
