Citigroup lifts estimate of uncovered legal risk

Citigroup Inc on Friday raised its estimate of its possible legal and regulatory risk in excess of reserves to $5 billion from $4 billion.

The company included the new estimate in an annual filing of 2012 results and financial condition with the U.S. Securities and Exchange Commission. The previous estimate was made a year ago and had not changed materially as of the end of September, according to a previous filing by the company.

(Reporting by David Henry in New York; Editing by Gerald E. McCormick.)