GIC and Kuwaiti SWF invest in Citi

Citi, the world's biggest bank, revealed on Tuesday that the Government of Singapore Investment Corporation (GIC) and the Kuwait Investment Authority were part of a group of investors involved in a $12.5 billion capital injection.

The bank also announced $18.1 billion-worth of subprime-related writedowns and a fourth-quarter loss of $9.8 billion. It also faced a $4.1 billion increase in credit costs as more Americans defaulted on loans.

Commenting on the $12.5 billion deal, Vikram Pandit, the

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