Citigroup CEO Vikram Pandit joined a growing chorus of Wall Street bankers decrying the supermarket bank model.

The head of the sprawling Citi franchise — formed in the 1998 merger of its namesake retail banking business and investment banking — said yesterday the model’s time may have passed.

“The focus of that merger, which was supermarket banking or financial supermarket, is a strategy that I don’t believe is right for the times,” said Pandit during a presentation at the Lee Kuan Yew School of Public Policy in Singapore. “Not only that, I don’t believe it’s right for our bank.”

Pandit’s remarks come almost a month after the man responsible for engineering the big supermarket bank concept, former Citi CEO Sandy Weill, called for a break up of big banks.

“What we should probably do is go and split up investment banking from banking,” Weill, 79, said.

Pandit, 55, said that he believes that during his five-year tenure, starting in 2007, Citi’s been shrinking and becoming more client focused.