Citi beats estimates for Q4 profit, cuts return targets after 'critical' yr

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Citi beats estimates for Q4 profit, cuts return targets after 'critical' yr - Business Standard

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Shares of the third-largest U.S.

However, the bank received some relief when the Federal Reserve terminated a 2013 enforcement action related to its anti-money laundering programs in October.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

Citigroup beat estimates for fourth-quarter profit, fueled by strength in trading and dealmaking, and announced a $20 billion buyback program as it cut a closely watched return target.