Citigroup Inc. Monday posted a 35% rise in net profit over the same period last year, rising to $7.14 billion from $5.3 billion. The increase happened despite Hurricane Katrina-related setbacks and an uptick in bankruptcy filings.

Citi said Katrina carved out $222 million in the quarter, while bankruptcy filings cut $124 million. The company waived $25 million worth of loan fees and interest for hurricane victims during the quarter and, like other lenders, restructured payments for its customers living in the affected areas.

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