Citigroup blamed a write-down for mortgages for a $10 billion quarterly loss today, and set out its plans to raise $14.5 billion while cutting cash dividends on stock and cutting 4,600 jobs.

America’s largest bank has revealed much of its money raised will be coming from the Singapore and Kuwait governments, former Citigroup Chief Executive Sanford Weill and Saudi Prince Alwaleed bin Talal, their largest individual shareholder.

It is hoped that adding much needed cash will help the bank through both the sub-prime mortgage disaster and the credit crunch.

The 4,600 job cuts have reduced earnings by $337 million and are in addition to a further 17,000 cuts announced last April.
Citigroup announced a $18.1 billion write-down and said it would cut its dividend 41 percent.

The group’s record fourth-quarter loss was $9.83 billion, or $1.99 per share, and roughly twice as large as analysts expected who now predict a rocky future for the company.