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Citi | Investor Relations On February 26 , 2021 , Citi announced that , as a result of new information Citi received subsequent to December 31 , 2020 , it adjusted downward its fourth quarter 2020 financial results , from those previously reported on January 15 , 2021 , due to a $ 390 million increase in operating expenses ( $ 323 million after - tax ) recorded within Institutional Clients Group , resulting from operational losses related to certain legal matters . The financial impact of this adjustment lowered Citi's fourth quarter 2020 net income from $ 4.6 billion to $ 4.3 billion and earnings per diluted share from $ 2.08 to $ 1.92 . The financial impact of this adjustment is not reflected in this fourth quarter 2020 earnings review presentation , dated January 15 , 2021 . For additional information , including Citi's fourth quarter and full year 2020 results of operations including this adjustment , see Citi's Annual Report on Form 10 - K filed with the U.S. Securities and Exchange Commission on February 26 , 2021 . Fourth Quarter 2020 Earnings Review January 15 , 2021 citi