Bloomberg News

Citigroup Expects to Return Capital to Shareholders Next Year

October 17, 2011

Oct. 17 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank by assets at midyear, affirmed its plan to buy back shares or increase its dividend in 2012 after profit climbed in the three months ended Sept. 30

“We’re confident that given the current economic conditions, given our current condition of financial strength, that we do expect to be in position next year to return capital to shareholders,” John Gerspach, chief financial officer of the New York-based bank, said on a conference call today.

--With assistance from Maryellen Tighe in New York. Editor: Dan Kraut

To contact the reporter on this story: Donal Griffin in New York at

To contact the editor responsible for this story: David Scheer at

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