The Biggest US Bank, Citigroup Bank is hurt by Credit Loses. But the new chief executives, Vikram Pandit, outside analysts are showing their optimism that Citigroup can change face and handle those problems in loans in future.
Based on their report, Citigroup suffers more than $16 billion. Main factor is credit and loans case. The impact goes to labor. An internal staff said that they will cut another 9,000 jobs.

Their New Executive said, “We’re not happy with our financial results this quarter,” Pandit said on a conference call. Nevertheless, he said his confidence in Citigroup’s future is “extremely high.”
Many hope for Pandit, they said. So let us see Pandit’s efforts to bring Citigroup escaped from the financial problems. Pandit said that in the beginning they focus on internal costs, like cut employees, credit repair, and they also focus on a new plan, sell Diners Club International.
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Source Reuters.com