Citi props up balance sheet
(23 January 2008 – USA) Citigroup has replenished its ailing balance sheet by raising some US$30 billion over the past two months.
The giant US bank recorded a quarterly loss of US$9.83 billion last week due to exposure to the sub prime mortgage market.
Citi said it expected to end Q4 on a pro forma basis with an 8.8 percent Tier-1 capital ratio and a 6.9 percent ratio of tangible common equity to risk-weighted assets.
The bank said its targets were 7.5 percent and 6.5 percent respectively.
Citi said it wanted to ensure that capital was working for its clients and market opportunities for captured for its shareholders.
Citi said it expected to end Q4 on a pro forma basis with an 8.8 percent Tier-1 capital ratio and a 6.9 percent ratio of tangible common equity to risk-weighted assets.
The bank said its targets were 7.5 percent and 6.5 percent respectively.
Citi said it wanted to ensure that capital was working for its clients and market opportunities for captured for its shareholders.
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