First quarter results included a loss from the bank's problems in Mexico, where its subsidiary there is under investigation for fraudulent loans of roughly $400 million to Oceanografia S.A., a Mexican oil services company.
"Those responsible will be held accountable for their actions and inaction," said Citi CEO Michael Corbat on the company's earnings call.
In March, the Federal Reserve rejected the bank's capital plan to increase its dividends and share repurchases, saying it was worried about the bank's ability to weather a severe economy downtown.
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It was the only major Wall Street firm to fail the Fed's so-called stress tests, and its shares have tumbled over 8% since the beginning of the year.
To that end, the firm's earnings call got a bit lively when an analyst asked if Citi's management grasped the severity of flunking the stress test.
"We're wide awake," Corbat replied. "This obviously came as a disappointment, and I'm responsible for it."