Citigroup Inc. and J.P. Morgan & Co. said fourth-quarter profits soared four- and five-fold, respectively, and Bank of America Corp. said net income rose 64% on stronger-than-expected revenues from investment banking and other market-related activities.

The results for those three companies set the tone for the nine other U.S. banking companies that reported quarterly and yearend 1999 profits Tuesday. Most of the companies - at least those with capital markets, securities processing, or asset management businesses- disclosed net income that either met or, in some cases, far exceeded the expectations of Wall Street analysts.

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