On a conference call to discuss Citi's third-quarter loss of $2.8bn (€2bn), Mr Crittenden said Citi had explored three acquisitions in recent weeks, two of which had been publicly disclosed. In addition to Wachovia, Citi was known to be interested in Washington Mutual, a failing bank that was gobbled up by JPMorgan Chase in late September.
He would not divulge the identity of the third bank, but it is rumoured to be a major regional bank such as National City.
As for the government's infusion of $25bn in capital into Citi – part of the $125bn programme announced this week requiring nine banks to issue preferred shares to the federal government in return for the new capital – Mr Crittenden said Citi had not decided how to deploy the sum.
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