The two largest U.S. banking companies reported declines in fourth-quarter profits, but the similarities ended there.

Citigroup Inc. said profits fell 6% from a year earlier, to $2.8 billion, because of charges for its purchase of Associates First Capital Corp. Revenues from consumer and international operations offset declines in investment banking and brokerage.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.