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FINANCIAL NEWS
Citigroup reports net income of $10.6b
19 Jan 2011
(MENAFN) Citigroup CEO, Vikram Pandit, announced the company’s financial year results in 2010 saying they were good and that net income amounted for $10.6 billion.
Prince Alwaleed bin Talal met with the CEO in New York and the prince congratulated the latter on these results. Share price in Citigroup rose to over five dollars per share.
It is worth noting that Prince Alwaleed got a stake worth $12.5 billion in Citigroup through a private offering of convertible preferred securities of Citigroup in 2008.
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