Citigroup net income falls by 10.5% to  $3.84 bn
US-based banking major Citigroup on Friday reported a 10.5% year-on-year drop in its net income in the quarter ended September to $3.84 billion. Further, the company's total adjusted revenue also fell by 4% to $17.76 billion. Citigroup has been exiting less-profitable operations in markets around the world, consolidating back offices and cutting jobs to become more efficient.