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Citi’s second quarter loss at $2.5 billion

NEW YORK: Citigroup on Friday posted a net loss of $2.5 billion for the second quarter n account of fixed income writedowns to the tune of $7.2 billion. On consumer banking operations in Asia, Citi said, “...higher credit costs were driven by increased losses and delinquencies in the unsecured loan portfolio, primarily in India.”

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