Citi's finally back in the black. After two years of losses and a massive government bailout, CEO Vikram Pandit has steered Citi's investment bank and trading operations to profits in 2010. At the same time, loan losses fell and Citi cut the cash reserves it held for bad loans--improving the bottom line even more.
Investors sensed a turnaround was afoot: Citi shares started rising early in the year and finished up 45% by the end of 2010. The U.S. government also sold the last of its Citigroup stake during the year--at a profit, no less.
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