Citigroup, world's largest bank by revenue lost $20.2 billion (98,646 crore rupees) in last 12 months due to sub prime crisis and subsequent economic meltdown.

Citigroup posted 2.8 billion dollars (13,678 crore rupees) or 60 cents per share loss in last quarter. A steep decline in performance on year on year basis as it reported a 2.2 billion dollar profit in the same quarter last year. This is the fourth straight quarter Citi is making losses but this time loss was better than expected.

In the last quarter Citi eliminated 11,000 workers bringing total lay offs this year to 23,000.

In last one year Citi wrote down 64 billion dollar bad assets (3,12,544 crore rupees) due to the sub prime problem.

Citi lost it's America's No.1 position in terms of assets as it's assets reduced to $2.05 trillion. JPMorgan Chase jumped to No 1 position with $2.25 trillion assets after the recent take overs.

But Citigroup Indian born CEO Vikram Pandit gave an optimistic assessment of the company's performance.