- Greece Pours $22.6 Billion Into Its Four Biggest Banks
- US Markets Will Be Watching Europe—And Jobs Report
- Emerging Markets to Test Lehman Lows on 'Grexit'
- Spain's Debt Costs Near Danger Level: Is Bailout Next?
- Samsung Galaxy S3 Gets Head Start on iPhone
- US Winds Down Longer Benefits for the Unemployed
- Cool Jobs: From Gold Stacker to Bed Tester
- Shell Puts Alberta Oil Sands Project on the Block
- Egyptians Torch Shafiq HQ as Vote Triggers Violence
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
MOST SHARED
- US Law Firm Dewey Files for Chapter 11, Seeks Liquidation
- Europe Markets Seen Edging Higher; Investors Watch Spain
- Emerging Market Stocks to Test Lehman Lows on 'Grexit'
- Funds Cut Exposure to Euro Zone Banks
- Greek Contagion Could Drag Euro Below $1.19: Charts
- Greece Pours $22.6 Billion Into Four Biggest Banks
- European Firms Plan for Greek Unrest and Euro Exit
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Charting Asia | Euro-Dollar Weekly
- Buy Asian Stocks Now as Market Panics Over Europe: Analyst
MOST POPULAR
HOT ON FACEBOOK
Citigroup CEO: Profitability Not a Long-Term Concern
Text Size 
CNBC.com Writer
Citigroup may have some credit worries in the near-term, but profitability is not a concern on any long-term basis, Vikram Pandit, CEO of Citigroup, told CNBC.
“We have a 12:1 leverage ratio and we have a $200 billion of liquidity on our balance sheet and $36 billion of reserves on our balance sheet and we really have worked very hard to put our capital position in very good order,” Pandit said in an interview at the World Economic Forum in Davos, Switzerland on Friday. “So from here on in, we’re completely concerned with making sure that we’re profitable as a bank.”
Citi shares [C
Loading...
()
] have been under pressure since the government’s announcement last year that they would be taking a 36 percent equity stake in the company by converting $25 billion in emergency aid into common shares. The stake has since been reduced to 27 percent.
 |
Last week, President Barack Obama called for increased limitations on the size and capacity of banks and other financial institutions in order to limit excessive risk taking and protect taxpayers.
Pandit said Citi is “quite aligned” with the principals that Obama has set out.
“I’ve looked at the proposals quite carefully and we are quite aligned with the principals that he’s set out and we think it’s generally the right direction,” he said. "That shouldn’t be surprise, given what we’ve been doing in Citi over the last 3 years—we solved businesses proprietary trading business, we’re selling some of our hedge fund, our private equity funds—we’re 20 percent smaller in size."
“We will continue to commit capital on clients’ behalves, continue to make markets, continue to do client facilitation and continue to provide credit—none of those things change,” he added.
Pandit went on to say that he's seeing US companies doing more exporting and that he saw more credit flowing in emerging markets.
- Critical elections are scheduled for Greece in June. Here are some of the players and their roles.
- Our financial system is still not designed to meet the needs of poor families, says this author.
- Statistics show there aren’t many women billionaires compared to their male counterparts. Why?
- Click to see various forms of funding and what entrepreneurs have used to build successful companies.
- Here are some of the most expensive hotels in the world to book. And we mean expen$$ive.
- Always drink responsibly and when you do, try one of these more unusual and tasty drinks. Cheers!
Data is a real-time snapshot *Data is delayed at least 15 minutes
