Citibank profits drop 15% at Irish unit

Pre-tax profits at the main Irish arm of Citibank declined by 15% to $823.1m (€593.2m) last year.

New accounts filed by Dublin-based Citibank Europe show that the bank sustained the drop in profits after its operating income fell from $1.798bn to $1.732bn in the 12 months to the end of December last.

In the fourth quarter of 2013, the firm paid a dividend of $800m to its parent, Citibank Holdings.