Saudi Prince Confident in Citigroup's (C) Future

Saudi Arabian Prince Alwaleed bin Talal al Saud, the largest individual shareholder in Citigroup (NYSE:C), said in a CNBC interview that he sees the company positioned strongly for the future.

“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.

Responding to concerns by analysts over the ability for Citigroup to raise capital, he said, “I can assure you that Citibank does not need one iota of increase in equity: It has adequate equity, and Vikram went public by saying that 2012 will witness some new programs whereby a share buyback program will be established and dividends will be reinstated.”

A number of analysts have recently recommended investors to stay away from the company, also citing dividend concerns, as their competitors will soon be offering them, while Citigroup still must put that on hold.

Citigroup closed Friday at $4.57, gaining $0.03, or 0.66 percent.