RIYADH, 17 February 2007 — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, received at his camp in Riyadh, Charles Prince, chairman and CEO of Citigroup who was accompanied by his wife, Margaret Wolff.
The occasion was also attended by Mike Jensen from Citigroup, Shady Sanbar, Adviser to the chairman, Heba Fatani, executive manager corporate communications department, Ahmad Al-Tobaishi, asisstent executive to the chairman, Intisar Al-Yamani, media manager corporate communications department, Sultana Alruwaily, human resources & administration affairs manager, Nahla Alanbar, protocol department manager and Manal Alshamary, protocol department assistant manager.
Prince Alwaleed and Prince discussed Saudi-US economic and social relations and the warm friendship between their two countries. The two also discussed the success of Citigroup in the light of Citigroup's latest net income results for 2006 that was recently announced.
"Our confidence in Citigroup is strong. The results reflect Citigroup's solid performance due to its strong and diverse banking services making the company more competitive," Prince Alwaleed had commented on Citigroup's net income results when they were announced. Citigroup announced a net income of SR80 billion ($21.54 billion) or $4.31 per share for the twelve months which ended in December 2006, up 7 percent. Revenues increased by 7 percent to SR336.5 billion ($90 billion) compared to the 2005 and Citigroup's assets total SR6.5 trillion ($1.73 trillion).