Citigroup Targets Banking Basics Amid ‘Anger,’ Pandit Says
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Citigroup Inc. is practicing “responsible finance” and going “back to the basics of banking” as lenders address public anger after the financial crisis, Chief Executive Officer Vikram Pandit said.
“It’s important for the financial system to acknowledge there’s a great deal of anger directed at it,” Pandit said today at a press conference at the World Economic Forum in Davos, Switzerland. The system must “balance safety and soundness but also address the need for growth. Trust has been broken. Banks have to serve clients, not serve themselves.”