Citi re-iterates Asia commitment despite rising costs

18 January 2012 | 1 minute read

Citigroup chief executive officer Vikram Pandit re-iterated the bank’s commitment to “investment spending” on expansion in Asia and Latin America despite a 7% fall in revenues and 11% fall in net profit in the fourth quarter. Citigroup’s commitment to growth markets is unlikely to be appreciated by investors who are perturbed at the bank’s spiralling cost structure. In acknowledgement, chief…

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