Citigroup has had its best profit performance in over a year in the first two months of 2009 and has generated revenue of more than $19bn despite growing uncertainties over its future, chief executive Vikram Pandit told employees.

In a memo to Citi’s 300,000-plus global staff, Mr Pandit tried to allay fears over its share price, which is hovering around $1, and debt, reiterating that a planned capital injection by the US government and other investors would strengthen its balance sheet. The deal will turn the federal authorities into Citi’s single largest shareholder with a stake of up to 36 per cent.