Citigroup’s shakiest days are over, Saudi Arabian Prince Alwaleed bin Talal al Saud, the biggest individual shareholder of the bank’s stock, told CNBC Friday.
“Citibank’s worst problems are behind it, and now they are positioned toward the future,” said the prince, who is the nephew of the Saudi leader, King Abdullah. He is also chairman of Kingdom Holding Company, which holds Citi stock.
“If they [Citi] can give us some dividends in 2011, I welcome that.”
The prince said that he is in frequent contact with Citigroup Chief Executive Officer Vikram Pandit and upper management, and he expressed confidence in the bank's leadership.