Citigroup's shares rise as CEO plugs performance

Shares of Citigroup Inc. rose more than 15% ahead of the opening bell Tuesday, scoring gains as Chief Executive Vikram Pandit said the hard-hit provider of financial services was profitable during the first two months of the year and called its capital position "strong."

The company joins the roster of several big U.S. banks, after blue chips J.P. Morgan Chase & Co. and Bank of America Corp. , to tout its profitability for the year to date recently.

Citigroup's shares, changing hands at $1.22 in pre-open action, have been under constant pressure over the last week, trading right around the $1 mark most of time after having fallen under $1 for the first time ever last week.

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- Posted: 2009-03-10 08:25:14

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