TEXT - Fitch comments on Citi
Jan 17 - Fourth-quarter reported net income improved significantly on a sequential basis, but core results were somewhat disappointing with core revenues lower, and provision and core expenses higher during the quarter, according to Fitch Ratings. Reported revenues in 4Q'12 reflect drags from DVA/CVA ($485 million), while last quarter's one-time items included DVA/CVA charges ($776 million) and the significant charge related to the incremental sale of the MSSB joint venture ($4.7 billion). A
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