Following the announcement of Citigroup’s results, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) congratulated Mr. Mike Corbat CEO of Citigroup on the Company’s Q2 results of $3.9 billion (SR 14.6 billion) which is an increase of 25% and an increase of earnings per share to $1.25 versus $1.00 in the second quarter 2012.
Prince Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company.
In January 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
In March 2013, Prince Alwaleed received at his office in Riyadh Mr. Corbat, they discussed the latest developments in Citigroup and future plans of the Company. Prince Alwaleed hosted a dinner in honor of Mr. and Mrs. Corbat at Kingdom Resort.