Citi CEO Vikram Pandit Tells Fox Business His Company Has "Absolutely" Turned The Corner

Citigroup CEO Vikram Pandit tells FOX Business Network (FBN) that the bank has “absolutely” turned the corner and that they are “doing all the right things in executing our core strategy.” Pandit also states that the biggest challenge facing Wall Street today is to “make America competitive again,” and that it's “a challenge that's been with us for the last couple of years, and it's going to be with us for a little bit and we're doing our part.”

Excerpts from the interview are below, courtesy of Fox Business Network.

On whether Citigroup is turning a corner:

“Absolutely, we made over $10 Billion last year. We repaid the government, the government made a good return on its investment. We've been selling down our Citi holdings portfolio very fast and we're now completely focused on our core operating businesses of the future.”

On whether Citigroup will ever be a $10 stock again:

“We'll let the shareholders decided that, but I'll tell you again we're doing all the right things in executing our core strategy, bringing American companies to the emerging markets, intermediating emerging market flows and so we're looking forward to the future.”

On whether Citigroup will ever need a bailout again:

“Definitely not.”

On the biggest challenges facing Wall Street banks today:

“The biggest challenge for all of us is to make America competitive again and that's what we're focused on. We're focused on helping American businesses by lending to them, by introducing them to foreign markets as well as for that matter helping American consumers. I think that's a challenge that's been with us for the last couple of years and it's going to be with us for a little bit and we're doing our part.”