Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year's regional banking crisis and CEO Jane Fraser's corporate overhaul.
All told, the charges — so massive the bank preannounced their effect this week — hit quarterly earnings by $4.66 billion, or $2 per share, Citigroup said.
Excluding their effect, earnings would've been 84 cents a share, the bank said.
Revenue: $17.44 billion vs. $18.74 billion expected.
Fraser called her company's performance "very disappointing" because of the charges but said Citigroup had made "substantial progress" simplifying the bank last year.
Persons:
Jane, would've, Fraser, Mark Mason, Octavio Marenzi, Goldman Sachs, Morgan Stanley
Organizations:
Citigroup, LSEG, Revenue, Citi, Opimas, JPMorgan Chase, Bank of America, CNBC PRO
Locations:
Argentina