Citigroup, in the midst of a pullback from consumer banking in a number of international markets, eked out a slim fourth-quarter profit after taking charges of $3.5 billion to settle legal claims and overhaul operations.
The total charges matched the figure foreshadowed by Chief Executive Mike Corbat in December, but the earnings fell short of the average market estimate.
Adjusted net income fell to $346 million, or 6 cents per share, from $2.60 billion, or 82 cents per share, a year earlier, the No. 3 U.S. bank by assets said.
Analysts on average had expected earnings of 9 cents per share, including charges, according to Thomson Reuters I/B/E/S.
Citi's shares were little changed in premarket trading on Thursday. (Click here to get the latest quotes.)
Adjusted revenue fell 0.8 percent, largely due to the strong U.S. dollar and weaker results from fixed-income trading.