Banking, finance, and taxes
Pandit Says Citigroup (C) Off To Great Start For The Quarter
Published:
Last Updated:
Citigroup (C) CEO Vikram Pandit says that the bank is having a great quarter. That must be true because he says it is, although his comments in the past have not always been spot on.
According to the FT, Pandit sent a note around to workers at the bank saying ‘We were profitable through the first two months of 2009 and are having are best quarter-to-date performance since the third quarter of 2007.”
Pandit’s enthusiasm may be masking some of the bank’s problems. There is certainly no guarantee that when it comes time to close the books on Q1 that a lot of the troubled asset on Citi’s balance sheet will not have to be written down. It may also have to account for credit card defaults and failure of some of the LBO loans that it made.
Other than that, everything is fine.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
