Citigroup's first-quarter profit fell 32 percent, slightly beating expectations, as the bank lost less money on bad loans but struggled to grow its business. The third-largest U.S. bank said net revenue fell 22 percent, more than expected, to $19.7 billion, due to a slump in its securities and trading unit and tepid consumer banking results, especially in North America. "The numbers look OK relative to expectations, but it's a tough slog. I think the tepid loan growth is just confirmation of the expectations people have," said Michael Holland, chairman of money-manager Holland and Co. Citigroup said it earned $3.0 billion, or 10 cents per share, down from $4.4 billion, or 15 cents per share, a year earlier. Analysts on average had expected 9 cents per share, according to Thomson Reuters I/B/E/S. Citigroup shares rose 1.1 percent to $4.47 in premarket trading.