Citigroup is set to unveil plans to dispose of $400 billion (£205 billion) of assets at a meeting with shareholders and analysts today.

Vikram Pandit, the chief executive, will face investors to announce his turnaround plan for the bank, and is expected to reaffirm his pledge to cut annual expenses at Citigroup by about 20 per cent.

Although Citigroup, the largest US bank, has already announced plans to boost its position by offloading assets, some analysts see the scale of this potential sale as concerning.

Jim Huguet, the co-chief executive at the fund manager Great Companies LLC, told Reuters: "The only reason you'd sell off that many assets is you have a lot more losses coming than you originally thought."

Analysts have speculated that consumer banking operations in the US, Japan, Mexico and Germany could go up for sale, according to Reuters.

Mr Pandit may also announce further job cuts among Citigroup's 369,000 employees. The bank has announced 13,200 job cuts in this year, though analysts say tens of thousands of further cuts may be needed.

Mr Pandit is under pressure from shareholders impatient for improvement at the bank. The Citigroup board is today expected to rebuff calls for a break-up.

Citigroup was one of the worst-hit casualties of the credit crunch. Last month it announced a $5.11 billion loss for the first quarter, and its sub-prime related losses and writedowns stand at more than $45 billion. Mr Pandit's predecessor, Charles Prince, was forced to resign in November as the scale of the bank's exposure to the crunch became clear.

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