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Citigroup Reports Earnings Friday. What to Expect.

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Analysts surveyed by FactSet expect the bank's profit will fall 28% from the year-ago quarter to $2.5 billion.

Citigroup will have an opportunity to show its yearslong turnaround efforts are gathering steam when the bank posts third-quarter results Friday. It won’t be easy.

Just last month, Citigroup unveiled a leaner management structure with the intent of eliminating “unnecessary complexity” at the bank, chief executive Jane Fraser said at the time. In the years leading up to Fraser taking the top spot in 2021, Citigroup had been faulted by regulators for having weak internal controls and deficiencies in its risk management procedures.

But investors hoping to see financial improvement from the management overhaul will have to wait until the fourth quarter, when results will reflect the changes, Citigroup said.

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