Citigroup has sold $4.5bn (€2.9bn) worth of common stock after already raising more than $35bn in new capital since November and saying it was well capitalised earlier this month.

Gary Crittenden, chief financial officer, said during the first quarter results conference call on April 18 that Citigroup was well capitalised as it had moved early to raise more than $35bn, although he did not rule out raising more capital.