Citigroup profit plummets

October 15, 2012 11:36 pm | Updated October 18, 2016 02:17 pm IST - NEW YORK:

U.S. banking giant Citigroup, on Monday, said it had reported 88 per cent plunge in net profit at $468 million in the July-September quarter due to $4.7 billion loss related to the joint venture brokerage business, Morgan Stanley Smith Barney.

In the year-ago period, the bank had a net profit of $3.77 billion, Citigroup said in a statement.

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