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Tuesday, September 23, 2008
Citi Will Be O.K.
Merideth Whitney,an analyst with Oppenheimer,thinks that Citigroup(C) will make it through the financial crisis.Ms.Whitney,who accurately predicted a Citi dividend cut earlier in the year,says the firm is selling assets to make sure it can stay in business.It is not in a precarious position,Ms.Whitney feels.Citi has 200 million customers in more than 100 countries.Almost 50% of its business is outside the U.S..Of its non-U.S. business,almost 35% is in emerging markets,which the company sees as its growth engine.Besides retail banking,Citi offers credit cards,brokerages,investment banking and hedge funds.
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