FRANKFURT - Citibank Beteiligungen AG, the new German holding company formed by Citicorp last August, posted a profit of $19.7 million in 1992, chief executive Friedrich Menzel said.
Earnings in 1991 at the group, which combined Citibank AG and Citibank Privatkunden AG, were only partly comparable with the prior year's results, Mr. Menzel said at a news conference.
$14 Million to Owner
From the 1992 earnings, majority owner Citibank Overseas Investment Corp. receives $14 million.
Minority shareholders, holding a total of 1,306 shares, get an unchanged dividend of $3,84 a share.
Profits at Citibank AG totaled $22.1 million in 1991. up 9% from 1991.
Most of the profits at Citibank Beteiligungen came from off-balance-sheet business.
Mr. Menzel said that the bank raised its market share in cash, currency, and interest-rate management and in new financial instruments.