Citi suffers $3.2 b loss

Citigroup Inc posted a quarterly loss of $3.2 billion to shareholders as it suffered $8 billion of credit losses, raising further questions about the future of the bank that is one-third owned by the US government. Citigroup, which has posted more than $100 billion of writedowns and consumer credit losses since the credit crisis began, posted a third-quarter net loss to shareholders of $3.2 billion, compared with loss of $2.9 billion, in the third quarter last year.

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