Is Citibank closing?

**uls** · February 21st, 2008 01:03 PM

with the rise in commodity prices, mineral exporter Australia is hot...

strong Aussie...

Sorry Mods. OT na

**chieffy** · February 23rd, 2008 10:14 PM

balita ko lumalala employee attrition sa citibank dito sa pinas dahil sa liit ng increase ng salary nila ngayon...halos nasa 2% lang daw...they're cutting down on expenses...ang daming gustong lumipat na sa ibang banks

**tidus1203** · February 23rd, 2008 10:42 PM

Citigroup which is the parent company of Citibank lost money last year yun na nga because of all the writedowns they had to take due to the subprime mortgage meltdown. They got new cash infusions from sovereign wealth funds of mostly Arab countries and some Asian countries like China and Singapore. Their biggest shareholder Prince Alwaleed Bin Talal of Saudi is the biggest loser here

**uls** · February 24th, 2008 12:35 AM

the other day, Meredith Whitney (the analyst who correctly predicted Citi will cut its dividend last Nov.) says Citi has to cut its dividend again and raise capital (even after the billions $$$ already pumped in)

Nov. 2007 - http://business.timesonline.co.uk/to...cle2793366.ece

She even got death threats for doing her job
http://business.timesonline.co.uk/to...cle2796774.ece

Just the other day - http://www.cnbc.com/id/23282231/site/14081545

Trivia: Meredith Whitney married John Layfield --- the WWE wrestler JBL
http://www.nytimes.com/2005/02/13/fa...hit.html?fta=y

**tidus1203** · February 24th, 2008 08:46 AM

But don't worry guys amid all this bad news these banks will never fail cause Helicopter Ben will print as much as needed to keep these banks inflated

**uls** · February 27th, 2008 01:58 PM

sobra bugbog na ang Citigroup kay Meredith Whitney. She forecasts a 70% cut in Citigroup profits

http://business.timesonline.co.uk/to...cle3431069.ece

**gearhead** · February 27th, 2008 05:33 PM

Originally Posted by v6dreamer

Wag kang maniwala doon, its a wrong info. Kung magsara man doesnt mean na whole banking ng citibank, maaring mga small branch lang siguro kung nakikita nilang hindi productive sa lugar na kinalalagyan.

Is this still the case?

Maybe they will not shut but could they be absorbed by another entity and be forced to change their name?