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Citigroup Inc. Message Board

  • hopping_on_bandwagon hopping_on_bandwagon Jun 18, 2012 4:26 PM Flag

    Pandit on Closing Bell

    Maria B. interviewed Pandit today and showed it again on Closing Bell. He said they were managing tightly their exposure in Europse. The future of the Euro is important question mark. Europe's FINL systems is 2.5 times size of US FINL system. Shedding assets. "We have done alot of restructuring". Cut back in trading business and capital market business. Maria said we are all expecting a downgrade from Moody's. Pandit said he's ready for it if Moody's does the downgrade. Makes financing of debt more expensive. Citi has $900B in deposits. Citi has more liquidity than Basel requires. Revenue by region - North America was only 43%. CitiHolding use to be 40% of assets, now only 10%. Maria showed a video clip of the Prince saying he expects dividends in 2012. Maria asked "Will he get his dividend?" Pandit said he is focused on 2013 - work with the Fed to return capital to shareholders. "Certainly not sooner than 2013". Emerging markets are still growing, but slower than a few quarters back. China & others impacted by European uncertainty. Middle class in these countries still rising. Citi is banking emerging markets and multinationals. Focused on rise in global trade. "There is not another bank that can do this as well as we can for our clients". Maria "How do you take this bank to the next level?" Pandit "We have a much stronger financial system in the US"... 200th anniversay of Citi, strongest balance sheet ever! "We're going to be the digital bank going forward" HOP

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