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Citigroup Leads Banks In Fund And Annuity Fees

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U.S. bank holding companies earned $9.5 billion in fees from mutual funds and annuities in the first half of 2005, up 6.4% from the total for the first half of 2004.[@@]

Figures released last week by the Federal Reserve Board and analyzed by Michael White Associates Inc., Radnor, Pa., show that Citigroup Inc., New York, led the bank holding company fund and annuity fee income list with $1.4 billion of such income.