Citi CEO says bank can weather the storm

Michael Corbat

As energy prices and Chinese stock markets sink, Citigroup can weather the storm, CEO Michael Corbat said.

'We are global and the world’s global bank, so we have exposures in those places', Corbat said Thursday in an interview on Bloomberg Television, adding that some investors wrongly view Citigroup as a proxy for emerging-market exposure. “We’ve got to break that cycle and show people that whether it’s China or oil that we have exposures but they are completely in line with what we are and what we do.”

Bloomberg News reports that Corbat, speaking at the World Economic Forum in Davos, said that even if China’s stock market continues to fall, the bank is not at risk because only 1% of its assets are in that country.

To access the complete Bloomberg News article hit the link below:

Citigroup Can Withstand Energy, China Fallout, CEO Corbat Says

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