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$C Warns Profits May Not Meet Expectations

Citigroup Inc. is warning investors it may miss a key profitability target after the Federal Reserve rejected the bank’s capital plan last month, people familiar with the matter say.

The Fed on March 26 shot down the New York bank’s proposal to boost its dividend and ramp up stock buybacks, saying it had failed to measure potential risks to its operations during a severe economic recession.

The rejection makes it unlikely Citigroup can hit its 2015 goal for return on tangible common equity….”

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