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C » Topics » CITI HOLDINGS NET INCOME OF $1.4 BILLION ON SMITH BARNEY GAIN

This excerpt taken from the C 8-K filed Jul 17, 2009.

CITI HOLDINGS NET INCOME OF $1.4 BILLION ON SMITH BARNEY GAIN

 

New York, NY, July 17, 2009 — Citigroup Inc. (NYSE: C) today reported net income for the second quarter of 2009 of $4.3 billion, or $0.49 per diluted share. Second quarter revenues were $30.0 billion.  These results include an $11.1 billion pre-tax ($6.7 billion after-tax) gain associated with the Morgan Stanley Smith Barney joint venture transaction, which closed on June 1, 2009.

 

Today’s results reflect Citigroup’s previously announced realignment into two principal segments, Citicorp and Citi Holdings.  A third segment, Corporate/Other, consists of various corporate level activities.  An organizational chart detailing the businesses in Citicorp and Citi Holdings is attached in Appendix A.

 

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