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Banking bubble

A ten year retrospective on Citi:

Citi’s share price is the lowest it’s been since 1998, currently at about $22.18. That makes it a pretty good proxy for the whole mortgage-debt saga.

Broader issues of banking meltdown aside for a moment, Citi’s stock ticked lower in opening trade on Tuesday perhaps on the back of a rather revealing statement from Sameer al-Ansari, the CEO of SWF Dubai International Capital.

Dubai’s neighbour, Abu Dhabi, has of course invested $7.5bn in Citi. Cue al-Ansari:

It will take a lot more than that to rescue Citi and other financial institutions.

Does he know something we don’t? Sources don’t come better placed when it comes to bank recapitalisation. It would be unusual had the DIC not been approached by Citi.

When then, can we expect the next Citi money shot?

This entry was posted by Sam Jones on Tuesday, March 4th, 2008 at 15:25 and is filed under Capital markets. Tagged with , , , . You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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Comments

  1. Mar 04   21:13 Posted by Afternoon Reading: Does Citigroup Need Another Capital Infusion? | Article Blog [report]

    […] Afternoon Reading: Does Citigroup Need Another Capital Infusion? Surprise. Citigroup will need another capital infusion. At least that is the opinion of one Sameer Al Ansari, chief executive of Dubai International Capital. He probably should know, too. As the FT.com’s Alphaville explains, “Sources don’t come better placed when it comes to bank recapitalisation. It would be unusual had the DIC not been approached by Citi.” Alphaville also provides a 10-year chart of Citigroup’s stock price. […]

  2. Mar 04   18:50 Posted by Jim [report]

    If add’l capita is needed, it’s likely to come from the Gulf. Wouldn’t these SW investors prefer to be vulture investors? What better way than to explore the uncertainties on Citi’s balance sheet create doubt and push the stock price to the newly appropriate ‘discount’

  3. Mar 04   18:04 Posted by Deal Journal - WSJ.com : Afternoon Reading: Does Citigroup Need Another Capital Infusion? [report]

    […] Surprise. Citigroup will need another capital infusion. At least that is the opinion of one Sameer Al Ansari, chief executive of Dubai International Capital. He probably should know, too. As the FT.com’s Alphaville explains, “Sources don’t come better placed when it comes to bank recapitalisation. It would be unusual had the DIC not been approached by Citi.” Alphaville also provides a 10-year chart of Citigroup’s stock price. […]

  4. Mar 04   15:39 Posted by Graham Cox [report]

    This chart is distorted upwards. Adjusted for inflation, you may need the 15 or 20 years version.

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