Banking sector woes continues in the US as its one of the largest financial group, Citi continues to be under pressure on uncertainty about its future.

Citigroup shares tumbled 20 percent yesterday and closed at $3.77 as investors continued to sell Citi stocks. In last two weeks it fell almost 74% after it reported massive loss and lay offs.

So far Citi announced 75,000 lay offs and reported a loss of more than $20 billion.

Saudi Prince Al-Waleed Bin Talal's decision to buy about $350 million of Citi shares on Thursday did not calm investors' nerves.

Analysts believe the bank will not return to profitability until 2010.

In another incident government closed down Community Bank late Friday, making it the 20th bank to fail in this year.

Community Bank had total assets of $681 million and total deposits of $611.4 million as of mid-October.

Financial sector in the US is reeling under high pressure even after many bailouts and rescue packages. Government has spent trillions to save the economy but nothing really helped so far as still Dow Jones is at 8000 level and bad news continue to popup every day.