Promises

CEO Sees Boom Ahead for Citi

Says $20 billion earnings around the corner.

Citigroup CEO Vikram Pandit will tell investors Thursday that he expects Citi to earn as much as $20 billion within the next few years, The Washington Post quoted sources as saying. Those kind of gains would mark a serious turnaround for the company. With a net income of $14.9 billion in 2009, Citi lost $8.7 due to what the FT called non-core businesses. Key to the financial institution's revival may be a refocusing on its central businesses: commercial, investment, and retail banking along with money management. “Clients look to us as being the financial conduit to the world,” Pandit told the FT, adding, “We want to be a global bank for institutions and individuals.”