Citigroup, the world’s biggest bank, produced record net income for 2003 of $17.85bn, 17% over 2002 – despite a $242m charge related to the collapse of Italy’s Parmalat.
Citigroup’s global consumer businesses were prime contrib-utors, providing full-year income of $9.6bn, up 17%, with retail banking and cards income up 24% and 23% respectively in the fourth quarter.
