Citigroup posts material Q4 losses resulting in 2009 loss

Citigroup has posted its Q4 2009 earnings, reporting a massive $7.6-billion loss ($0.33 per share) in the quarter. Compared to Q4 2008, Citigroup reported a $17.3-billion loss ($3.40 per share).

For the fiscal year ended 2009, Citigroup posted a $1.6-billion loss.

Citigroup generated $5.4-billion in total revenue for the quarter, or $15-5-billion excluding direct charges incurred from repayments to the U.S. Treasury’s TARP program.

The U.S. Treasury currently owns 27-percent of Citigroup.

Citigroup CEO Vikram Pandit said today in a statement that the bank had made “enormous progress in 2009,”

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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