Tomahawk, WI 02/10/2014 (BasicsMedia) – Citigroup Inc. (NYSE:C) posted some of the best financial results for its fourth quarter indicating solidness in the market. The net income for the fourth quarter stood at $2.6 billion compared to $2.4 billion recorded in the same quarter in F2012 which represented a massive improvement of 21%. The net income for the full year experienced a massive increase of 15% compared to that of F2012 to come in at a high of $13.8 billion. Despite all this, not everything is merry for the third largest bank in America.

The struggling of Citigroup biggest segment

Citigroup Inc. (NYSE:C) key business Global Consumer Banking seem to be on a downfall at the current market conditions. The segment posted a slump in net income which fell by 11% compared to F2012 similar quarter earnings of $8 billion to a low of 7.1 billion.

Point of concern is that this slump in the market was not experienced in Citigroup fierce rivals JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC). Citigroup Inc. (NYSE:C) management have continued to emphasis, that the slump of its key business has to be attributed to the refinancing activity in America and the changing regulatory environment in Asia. This is not a valid solid reason as its rivals also faced the same challenges but experienced positive results in this case. A casing example is Wells Fargo which saw its community banking network record an increase in revenues of 21%.

 In a bid to defend the results of the Global Consumer Unit, Citigroup Inc. (NYSE:C) Chief Executive officer was quoted as saying “we didn’t finish 2013 as strongly as I would have liked, I’m very pleased with the progress we made over the course of the year.”

 Citigroup plans for Europe energy markets

Citigroup Inc. (NYSE:C) seems to be doing the opposite by planning to expand its presence in the turbulent European markets despite its rivals planning to pull out at any given opportunity. This has been seen from many quarters as a sign of ignorance or a daring move of trying to reap where many have failed. Increased competition and harsh market conditions had forced Bank of America and deutsche Bank to considerably cut their stakes in the European energy markets in the recent past.

Citigroup Inc. (NYSE:C) despite the slump of its key business segment has been performing well in the stock market closing the Friday trading session at a high of 449.34 an increase of 2.26% compared to Thursday trading session.

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