Citigroup chief executive Vikram Pandit said the largest US bank may sell "peripheral" businesses to further boost capital after raising more than $30 billion in December and January from outside investors. "We anticipate that divesting some of our peripheral businesses will further contribute to our capital base,'' Mr Pandit wrote yesterday in an internal memo which was confirmed to Bloomberg by a company spokeswoman. Mr Pandit did not specify which businesses might be sold, but said the bank's "core" businesses included its credit card, wealth management, transaction services, and investment banking and trading operations. Since taking over in December from Charles Prince, Mr Pandit has faced calls from some investors to overhaul the New York-based financial services group. Write-downs and credit losses led to a record $9.83 billion fourth-quarter loss, and have caused the bank's shares to fall about three-fifths since May to a nine-year low. In the last four months, Citigroup has raised capital from Abu Dhabi, Kuwait, Singapore, Saudi Prince Alwaleed bin Talal, and a variety of public investors. But some analysts have this week projected a first-quarter loss in the roughly $5 billion to $8 billion range.