(Adds detail from annual meeting, background)

NEW YORK, April 22 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) Chief Executive Vikram Pandit said on Tuesday he has no plans to change the bank's dividend policy at this time, after having already cut the bank's dividend earlier this year.

Analysts recently started bracing for Citi to possibly cut its 32 cent quarterly dividend after the largest U.S. bank posted a $5.1 billion first quarter loss and more than $16 billion of write-downs and credit losses on Friday.

Meredith Whitney, analyst at Oppenheimer & Co., said in a note on Monday that the company has seriously constrained earnings power that will likely result in pressure to cut or eliminate the current dividend and raise more capital.

Citi's Pandit said at the bank's annual meeting on Tuesday, "We're not considering changing our dividend policy at this time."

Whitney's prediction of a dividend cut and Citi's denial echoed events of late last year and early 2008.

Whitney wrote on Oct. 31 that Citi was likely to make moves including cutting its dividend. On an earnings conference call on November 5, Citi's chief financial officer Gary Crittenden said "we are fully committed to maintaining the dividend at its current level."

In January, about a month after Pandit took the helm at Citi, Citigroup reduced its quarterly dividend by 41 percent from 54 cents per share as part of its plan to bolster capital levels.

In the annual meeting that lasted nearly four hours, Pandit and Chairman Win Bischoff fielded questions from dozens of shareholders, who expressed anger over everything from the company's share price to executive compensation to the way it has treated employees.