Citigroup (C) executives believe they will be able to finish work on a set of consent orders later this year, allowing a shift in emphasis to growing profits, Reuters reported Friday, citing two sources familiar with the situation.

The company has been engaged for six years in compliance work on regulatory matters involving thousands of employees caused by a bungled $900 million transfer to creditors of Revlon, the report said.

Chief Executive Jane Fraser told analysts last month that the compliance work is 80% done, Reuters reported.

Citigroup did not immediately reply to MT Newswires' request for comment.

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