Citigroup reported a $1.6 billion loss for 2009, but added that it had made “enormous progress” in its recovery.
Although the bank’s year-end deficit was a significant improvement on its $27.7 billion loss for 2008, U.S. stock futures were in a red after the news.
At the peak of the financial crisis, the U.S. government injected $45 billion into Citigroup to keep the firm in business. Eventually, American taxpayers were left with an ownership stake of 34%.
Profit from the brokerage and asset arms of the firm led the recovery, bringing in $7.1 billion compared with a $764 million loss a year ago.
Citigroup stock was down 5 cents, to 1.32 percent, to $3.38 in morning trading.
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