Citigroup said fourth-quarter profit rose 30 per cent but that earnings from continuing operations declined 3 per cent.
Net income for the New York-based company rose to $6.93 billion, or $1.37 per share, from $5.32 billion, or $1.02, a year earlier. Results included a $2.1 billion gain from the sale of its asset management business to Legg Mason Inc.
Citigroup acquired Legg's brokerage business in the transaction and then sold Legg's capital markets operations to Stifel Financial Group.
Excluding the Legg transaction, income from continuing operations fell to $4.97 billion, or 98 cents per share, Citigroup said. Revenue totalled $20.78 billion.
Quarterly results also included a $252 million after-tax impact related to the surge of consumer bankruptcy filings ahead of tougher, more creditor-friendly laws that took effect on October 17th.