Citigroup Could Lose Status as Biggest Bank:
Pandit, who took Citi's reins in December, said Friday he expects to shed $400 billion of assets he inherited within the next three years. Two-thirds of the divestitures will come from the company's troubled consumer banking division.
If Citi were $400 billion thinner today, it would have about $1.79 trillion of assets, just ahead of Bank of America Corp. (BAC), which cracked the scales with $1.74 trillion of assets at the end of its first quarter on March 31. When Bank of America completes its planned acquisition of Countywide Financial Corp. (CFC) later this year, it would surpass Citigroup, even with Countrywide's rapidly deteriorating mortgage assets.
...Much more important than assets is profit and market value, both of which have eluded Citigroup in recent years as it wrote off more than $40 billion of loans and other assets. The New York-based bank company lost $5.1 billion in this year's first quarter.
Both North Carolina-based Bank of America and New York-based J.P. Morgan Chase & Co. (JPM) surpass Citigroup in market value. Citi's shares declined 55% over the past 52 weeks, giving it a market capitalization of $123.7 billion. Bank of America - off 28% in the past year - has a market cap of $164.9 billion, while J.P. Morgan - up 6.3% since a year ago - has a market cap of $157.8 billion
I think it already has
See www.biggestbank.com