REUTERS/Brendan McDermid

Citigroup has cut its third quarter earnings down from $ 0.88 to $ 1.07 as it reported earlier this month.

The banks says that the cut is due to an $ 600 million increase in its legal reserves. 

The stock is down 2% in after hours trading.

Citi also announced that it would exit 11 markets around the world during its third quarter earnings release.

More on this to come.

Business Insider » Finance

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