(REUTERS) -- Citigroup Inc.'s fourth-quarter profit fell 11 percent as revenue declined amid slower capital markets and operating expenses increased.

The third-largest U.S. bank by assets reported net income of $1.16 billion, or 38 cents per share, down from $1.31 billion, or 43 cents per share, a year earlier.

(Reporting by David Henry in New York; editing by John Wallace)