Hit hard by the subprime mess, Citigroup may present a plan to sell non-core assets amounting to roughly USD 400 billion, reports CNBC-TV18, quoting the Financial Times. This amounts to nearly 20% of Citi’s current assets.

According to the Financial Times, which first reported the story on Thursday, the asset sale would take place over several years.

Citi CEO Vikram Pandit has promised to cut annual expenses at Citi by roughly 20 percent.

While Citi had expressed its intention to shed assets earlier, the magnitude of this proposal has some analysts worried, who think that Citi might have more losses coming its way than originally imagined.