The Citigroup led by its Indian American chief executive Vikram Pandit has reported a slim profit of just $101 million in the third quarter, indicating its road to recovery may be a little longer.

With credit problems, particularly within its consumer-related businesses, weighing down its third-quarter results and after taking into account the recent conversion of part of the government's preferred stake in the company into common stock, the New York-based bank Thursday reported a loss of 27 cents a share.