By Ambar Warrick and Imani Moise
(Reuters) - Citigroup Inc reported fourth-quarter profit that beat market expectations on Friday, but that failed to impress Wall Street as higher costs and a fall in revenue across its consumer business weighed on the results.
Like fellow U.S.
bank JPMorgan Chase & Co, the results benefited from the release of $1.5 billion from its more than $10 billion reserves kept aside to cover coronavirus-driven bad loans.
Fiscal and monetary stimulus to prop up the economy have revived banks' confidence.