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Updated Thursday, November 20, 2008 10:48 am TWN, AP

Citi credit losses to rise through middle of 2009

NEW YORK -- Citigroup Inc. shares continued to fall Tuesday, as the struggling bank disclosed it expects consumer loan losses to rise sharply through the first half of 2009. During a presentation Monday to employees where more than 50,000 additional job cuts were announced, Citigroup Chief Executive Vikram Pandit said consumer portfolio losses could rise between US$1 billion and US$2 billion each quarter through mid-2009.
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