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Citi posts highest profit since financial crisis, shares rise

Under Corbat, who replaced Vikram Pandit as CEO in 2012, Citi has been selling retail operations in several countries, shrinking its U.S. branch network and disposing of non-core businesses. Operating expenses in Citicorp, which holds the bank’s core businesses, fell 6 percent to $9.8 billion in the second quarter. Citi shrank the assets of Citi Holdings, which houses businesses it plans to sell, by 22 percent compared with 19 percent

Goldman profit plunges on weak bond trading, legal provisions

Goldman, the target a government probe over the issue of mortgage bonds leading up the financial crisis, said in May it had raised the top end of its range of “reasonably possible” legal expenses to about $3.8 billion from about $3 billion. The Wall Street bank’s shares were down 1.2 percent at $210.40 in morning trading, even though the earnings – when excluding the provision – exceeded the average analyst