On Thursday Citigroup Inc Chairman Richard Parsons said the bank does not need any further capital injections from the government and expressed confidence that Citi would remain privately owned.

According to an interview with Reuters, Parsons said: “Citi is actually one of the better capitalized banks in the world, when asked about the groups need for additional government funding.

Parsons expressed certainty that the giant bank would not be nationalized saying that he didn’t think the administration was heading in that direction.