National City Corp. of Cleveland said fourth-quarter profits fell 10.3%, to $308 million, as charges for a balance sheet restructuring and a business divestiture overshadowed gains from lending.

Since last summer the $88.5 billion-asset banking company has been quitting certain businesses and shoring up its balance sheet to focus resources on higher-profit activities. National City took $51.1 million of related charges in the quarter - $44 million for a realignment of its consumer finance operations and $7.1 million for goodwill associated with the sale of a small unit of its National Processing Inc. subsidiary.

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