Citigroup CFO Crittenden: "Appreciative" Of 36% Gov Stake, Will Keep Naming Deal With Mets
CNBC spoke an interview with Citigroup CFO Gary Crittenden this morning. Among the highlights:
Crittenden tells CNBC anchor Erin Burnett that the bank has completed a stress test that "is more difficult or more conservative than what the government stress test appears to be on first blush."
The result of the Citigroup stress test is that the bank has "a very strong capital base," Crittenden said.
Crittenden did not deny that the bank could need additional capital down the road. Other major bank CEOs, such as Bank of America honcho Kenneth Lewis, have said their banks won't need any additional government funds going forward.
"It would be difficult for someone to say there's no need for additional capital," Crittenden said.
As for the relationship between the bank and the government: "I think there's pretty strong consistency between the objectives of the regulator, the objectives of the government and those of our shareholders."
In other pertinent news, Crittenden said the bank would move forward with its $400 million, 20-year naming deal with the Mets for its new baseball stadium.
"We have a contractual obligation... We're going to continue to honor our obligations," he said.