Wednesday, February 16, 2011

Citigroup (NYSE:C) Looking Forward to Successful Future Says CEO Pandit

In a recent interview on the Fox Business Network, Citigroup (NYSE:C) CEO Vikram Pandit said the company has definitely turned around, and is looking forward to the future.

Pandit said, "...we made over $10 Billion last year. We repaid the government, the government made a good return on its investment. We’ve been selling down our Citi holdings portfolio very fast and we're now completely focused on our core operating businesses of the future."

The CEO was asked if Citigroup could be a $10 stock again. He responded, "we'll let the shareholders decided that, but I'll tell you again we're doing all the right things in executing our core strategy, bringing American companies to the emerging markets, intermediating emerging market flows and so we’re looking forward to the future."

Citigroup closed Tuesday at $4.91, level with Monday's close.

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