Citigroup Inc. managed to bring its net loss to US$7.58 billion in the fourth quarter last year, in line with analysts' expectations, according to its earnings result released on Tuesday.

Citi, which suffered most among major US banks from the financial crisis, reported a loss of 33 cents a share, compared with a loss of US$3.40 per share one year earlier.

For the full year 2009, Citi's loss was US$1.6 billion, or 80 cents a share.

Citi's revenue fell 4.3 percent to US$5.41 billion in the fourth quarter, according to the bank's statement. Managed revenue excluding the costs of the TARP repayment was US$17.9 billion, lower than analysts' estimates.

However, Citi showed an improvement in losses from consumer loans in the United States, Asia, and Latin America. The bank's loan-loss provision was US$8.2 billion, 36 percent lower than the prior year and 10 percent lower than the previous quarter. Citi's net credit losses fell to US$7.1 billion sequentially from US$7.9 billion.

Citi shares gained 12 cents, or 3.51 percent, to US$3.54 per share in New York trading on Tuesday.

(Xinhua News Agency January 20, 2010)