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Exhibit 99.1

 

 

CITIGROUP -  QUARTERLY FINANCIAL DATA SUPPLEMENT

4Q15 HISTORICAL

 

 

 

Page

Citigroup Consolidated

 

Financial Summary

1

Consolidated Statement of Income

2

Consolidated Balance Sheet

3

Segment Detail

 

Net Revenues

4

Income & Citicorp Regional Average Assets and ROA

5

Citicorp

 

Income Statement and Balance Sheet Data

6

Global Consumer Banking (GCB)

7 - 8

North America

9 - 11

Latin America

12 - 13

Asia (1)

14 - 15

Institutional Clients Group (ICG)

16

Revenues by Business

17

 

 

Corporate / Other

18

 

 

Citi Holdings

 

Income Statement and Balance Sheet Data

19

Consumer Key Indicators

20 - 21

 

 

Citigroup Supplemental Detail

 

Average Balances and Interest Rates

22

Deposits

23

Loans

 

Citicorp

24

Citi Holdings / Total Citigroup

25

Consumer Loan Delinquency Amounts and Ratios

 

90+ Days

26

30-89 Days

27

Allowance for Credit Losses

 

Total Citigroup

28

Consumer and Corporate

29 - 30

Components of Provision for Loan Losses

 

Citicorp

31

Citi Holdings / Total Citigroup

32

Non-Accrual Assets

 

Total Citigroup

33

Citicorp

34

Citi Holdings

35

 

 

Reconciliation of Non-GAAP Financial Measures

36

 

(1)                                 For reporting purposes, Asia GCB includes the results of operations of EMEA GCB for all periods presented.

 

This revised Historical Quarterly Financial Data Supplement for the quarter and year ended December 31, 2015 has been revised to reflect the following reporting changes and reclassifications:

 

· reclassifications involving the consumer businesses Citi intends to exit in Argentina, Brazil and Colombia, as previously announced.  These businesses, which previously have been reported as part of Latin America Global Consumer Banking (GCB), will be reported as part of Citi Holdings beginning in the first quarter of 2016.  In addition, while Citi does not intend to exit its consumer businesses in Venezuela, also previously reported as part of Latin America GCB, these businesses are not significant, lending predominantly to support Institutional Client Group (ICG) activities.  These businesses will be reported as part of ICG beginning in the first quarter of 2016.  Similarly, Citi’s remaining indirect investment in Banco de Chile will be reported as part of ICG beginning in the first quarter of 2016;

 

· certain other regional reclassifications within ICG; and

 

· certain other immaterial reclassifications.

 

For additional information on these revisions, see Citi’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on April 11, 2016.  This revised Historical Financial Data Supplement reflects the format Citi will use to present its 2016 first quarter financial results on April 15, 2016 and is being provided solely to facilitate comparison of 2016 first quarter results with those of prior periods.

 


 

CITIGROUP — FINANCIAL SUMMARY

(In millions of dollars, except per share amounts, and as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues, Net of Interest Expense

 

$

19,547

 

$

20,457

 

$

20,614

 

$

17,017

 

$

19,260

 

$

18,489

 

$

13,739

 

$

18,042

 

$

20,318

 

$

20,592

 

$

17,941

 

$

17,873

 

Total Operating Expenses

 

12,122

 

12,745

 

12,257

 

13,056

 

12,215

 

11,993

 

12,095

 

13,733

 

12,288

 

12,149

 

11,679

 

12,292

 

Net Credit Losses (NCLs)

 

6,195

 

5,049

 

4,420

 

4,023

 

3,858

 

3,491

 

3,897

 

2,985

 

2,878

 

2,608

 

2,430

 

2,547

 

Credit Reserve Build / (Release)

 

(3,382

)

(1,980

)

(1,484

)

(1,505

)

(1,149

)

(1,016

)

(1,461

)

(147

)

(664

)

(781

)

(778

)

(636

)

Provision for Unfunded Lending Commitments

 

25

 

(13

)

43

 

(4

)

(38

)

7

 

(41

)

56

 

14

 

(3

)

103

 

(34

)

Provision for Benefits and Claims

 

260

 

219

 

259

 

234

 

229

 

214

 

225

 

219

 

231

 

200

 

204

 

195

 

Provisions for Credit Losses and for Benefits and Claims

 

$

3,098

 

$

3,275

 

$

3,238

 

$

2,748

 

$

2,900

 

$

2,696

 

$

2,620

 

$

3,113

 

$

2,459

 

$

2,024

 

$

1,959

 

$

2,072

 

Income from Continuing Operations before Income Taxes

 

4,327

 

4,437

 

5,119

 

1,213

 

4,145

 

3,800

 

(976

)

1,196

 

5,571

 

6,419

 

4,303

 

3,509

 

Income Taxes (benefits)

 

1,308

 

1,100

 

1,390

 

222

 

1,129

 

852

 

(1,487

)

(97

)

1,675

 

2,225

 

1,102

 

1,184

 

Income from Continuing Operations

 

$

3,019

 

$

3,337

 

$

3,729

 

$

991

 

$

3,016

 

$

2,948

 

$

511

 

$

1,293

 

$

3,896

 

$

4,194

 

$

3,201

 

$

2,325

 

Income (Loss) from Discontinued Operations, net of Taxes

 

32

 

50

 

—

 

(14

)

12

 

7

 

8

 

(85

)

(33

)

30

 

92

 

181

 

Net Income before Noncontrolling Interests

 

3,051

 

3,387

 

3,729

 

977

 

3,028

 

2,955

 

519

 

1,208

 

3,863

 

4,224

 

3,293

 

2,506

 

Net Income Attributable to Noncontrolling Interests

 

72

 

62

 

(28

)

42

 

126

 

40

 

25

 

28

 

90

 

36

 

51

 

50

 

Citigroup’s Net Income

 

$

2,979

 

$

3,325

 

$

3,757

 

$

935

 

$

2,902

 

$

2,915

 

$

494

 

$

1,180

 

$

3,773

 

$

4,188

 

$

3,242

 

$

2,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

0.97

 

$

1.07

 

$

1.23

 

$

0.31

 

$

0.94

 

$

0.94

 

$

0.16

 

$

0.41

 

$

1.23

 

$

1.34

 

$

0.98

 

$

0.71

 

Citigroup’s Net Income

 

$

0.98

 

$

1.09

 

$

1.23

 

$

0.30

 

$

0.95

 

$

0.94

 

$

0.16

 

$

0.38

 

$

1.21

 

$

1.34

 

$

1.01

 

$

0.77

 

Shares (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Basic

 

2,904.4

 

2,908.6

 

2,910.8

 

2,915.2

 

2,926.2

 

2,926.6

 

2,926.8

 

2,942.7

 

3,040.1

 

3,040.7

 

3,034.3

 

3,028.0

 

Average Diluted

 

2,996.6

 

2,997.0

 

2,998.6

 

3,003.0

 

3,014.5

 

3,015.0

 

3,015.3

 

3,017.0

 

3,044.7

 

3,046.3

 

3,040.9

 

3,034.6

 

Common Shares Outstanding, at period end

 

2,920.6

 

2,917.9

 

2,923.7

 

2,923.9

 

2,932.2

 

2,932.5

 

2,932.5

 

3,028.9

 

3,042.9

 

3,041.0

 

3,033.0

 

3,029.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Dividends - Basic

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

110

 

$

71

 

Preferred Dividends - Diluted

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

4

 

$

9

 

$

110

 

$

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

2,909

 

$

3,205

 

$

3,684

 

$

923

 

$

2,833

 

$

2,831

 

$

471

 

$

1,227

 

$

3,730

 

$

4,067

 

$

2,980

 

$

2,161

 

Citigroup’s Net Income

 

$

2,940

 

$

3,254

 

$

3,684

 

$

909

 

$

2,845

 

$

2,838

 

$

479

 

$

1,144

 

$

3,697

 

$

4,096

 

$

3,070

 

$

2,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

2,910

 

$

3,211

 

$

3,689

 

$

926

 

$

2,837

 

$

2,835

 

$

472

 

$

1,229

 

$

3,730

 

$

4,067

 

$

2,980

 

$

2,161

 

Citigroup’s Net Income

 

$

2,941

 

$

3,260

 

$

3,689

 

$

913

 

$

2,849

 

$

2,841

 

$

480

 

$

1,145

 

$

3,698

 

$

4,096

 

$

3,070

 

$

2,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital Ratios and Performance Metrics:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital Ratio (1) (2)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

8.72

%

9.31

%

10.02

%

10.47

%

10.57

%

Tier 1 Capital Ratio (1) (2)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

9.03

%

9.56

%

10.37

%

10.90

%

11.23

%

Total Capital Ratio (1) (2)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

10.81

%

12.23

%

12.79

%

13.12

%

12.64

%

Supplementary Leverage Ratio (2) (3)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

5.08

%

5.25

%

5.42

%

Return on Average Assets

 

0.62

%

0.67

%

0.76

%

0.19

%

0.61

%

0.61

%

0.10

%

0.25

%

0.81

%

0.88

%

0.69

%

0.52

%

Return on Average Common Equity

 

7.3

%

7.7

%

8.4

%

2.1

%

6.5

%

6.5

%

1.0

%

2.5

%

8.2

%

8.8

%

6.4

%

4.8

%

Efficiency Ratio (Total Operating Expenses/Total Revenues, net)

 

62

%

62

%

59

%

77

%

63

%

65

%

88

%

76

%

60

%

59

%

65

%

69

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars, except Book Value Per Share):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

1,947.6

 

$

1,956.4

 

$

1,935.7

 

$

1,873.6

 

$

1,944.1

 

$

1,916.1

 

$

1,931.0

 

$

1,864.3

 

$

1,881.4

 

$

1,883.6

 

$

1,899.2

 

$

1,880.0

 

Total Average Assets

 

1,953.8

 

1,982.3

 

1,963.7

 

1,910.7

 

1,911.8

 

1,916.1

 

1,909.4

 

1,905.4

 

1,886.8

 

1,898.9

 

1,859.5

 

1,888.0

 

Total Deposits (4)

 

865.9

 

866.3

 

851.3

 

865.9

 

906.0

 

914.3

 

944.6

 

930.6

 

933.8

 

938.4

 

955.5

 

968.3

 

Citigroup’s Stockholders’ Equity

 

170.8

 

176.1

 

177.1

 

177.5

 

181.5

 

183.6

 

186.5

 

188.7

 

193.0

 

195.6

 

200.5

 

204.0

 

Book Value Per Share

 

58.38

 

60.25

 

60.47

 

60.61

 

61.80

 

62.49

 

63.48

 

61.46

 

62.39

 

62.90

 

64.38

 

65.12

 

Tangible Book Value Per Share (5)

 

46.79

 

48.66

 

49.41

 

49.64

 

50.79

 

51.69

 

52.58

 

51.08

 

52.23

 

52.99

 

54.40

 

55.19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct Staff (in thousands)

 

260

 

263

 

267

 

266

 

263

 

261

 

262

 

259

 

257

 

253

 

252

 

251

 

 

(1)                                 Citigroup’s risk-based capital ratios, which reflect full implementation of the U.S. Basel III rules, are non-GAAP financial measures. These ratios are calculated under the Basel III Advanced Approaches framework.  See page 36 for a reconciliation of Citi’s Common Equity Tier 1 Capital to reported results.

(2)                                 Not used.

(3)                                 Citigroup’s Supplementary Leverage Ratio (SLR), which reflects full implementation of the U.S. Basel III rules, is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

(4)                                 Beginning December 31, 2014, approximately $21 billion of Deposits (and corresponding assets) were reclassified to held-for-sale within Other liabilities and Other assets, respectively, as a result of Citigroup’s entry into an agreement in December 2014 to sell its Japan retail banking business, which was reported in Citi Holdings.  The sale was completed on November 1, 2015.

(5)                                 Tangible book value per share is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

 

Note:  Ratios and variance percentages are calculated based on the displayed amounts.

N/A  Not applicable.

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP — FINANCIAL SUMMARY

(In millions of dollars, except per share amounts, and as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues, Net of Interest Expense

 

$

20,206

 

$

19,425

 

$

19,689

 

$

17,899

 

$

19,736

 

$

19,470

 

$

18,692

 

$

18,456

 

$

77,635

 

$

69,530

 

$

76,724

 

Total Operating Expenses

 

12,149

 

15,521

 

12,955

 

14,426

 

10,884

 

10,928

 

10,669

 

11,134

 

50,180

 

50,036

 

48,408

 

Net Credit Losses (NCLs)

 

2,439

 

2,189

 

2,097

 

2,248

 

1,957

 

1,920

 

1,663

 

1,762

 

19,687

 

14,231

 

10,463

 

Credit Reserve Build / (Release)

 

(646

)

(610

)

(522

)

(367

)

(202

)

(405

)

(81

)

494

 

(8,351

)

(3,773

)

(2,859

)

Provision for Unfunded Lending Commitments

 

(27

)

(31

)

(30

)

(74

)

(37

)

(48

)

65

 

94

 

51

 

(16

)

80

 

Provision for Benefits and Claims

 

208

 

182

 

205

 

206

 

197

 

181

 

189

 

164

 

972

 

887

 

830

 

Provisions for Credit Losses and for Benefits and Claims

 

$

1,974

 

$

1,730

 

$

1,750

 

$

2,013

 

$

1,915

 

$

1,648

 

$

1,836

 

$

2,514

 

$

12,359

 

$

11,329

 

$

8,514

 

Income from Continuing Operations before Income Taxes

 

6,083

 

2,174

 

4,984

 

1,460

 

6,937

 

6,894

 

6,187

 

4,808

 

15,096

 

8,165

 

19,802

 

Income Taxes (benefits)

 

2,131

 

1,921

 

2,068

 

1,077

 

2,120

 

2,036

 

1,881

 

1,403

 

4,020

 

397

 

6,186

 

Income from Continuing Operations

 

$

3,952

 

$

253

 

$

2,916

 

$

383

 

$

4,817

 

$

4,858

 

$

4,306

 

$

3,405

 

$

11,076

 

$

7,768

 

$

13,616

 

Income (Loss) from Discontinued Operations, net of Taxes

 

37

 

(22

)

(16

)

(1

)

(5

)

6

 

(10

)

(45

)

68

 

(58

)

270

 

Net Income before Noncontrolling Interests

 

3,989

 

231

 

2,900

 

382

 

4,812

 

4,864

 

4,296

 

3,360

 

11,144

 

7,710

 

13,886

 

Net Income Attributable to Noncontrolling Interests

 

45

 

50

 

59

 

38

 

42

 

18

 

5

 

25

 

148

 

219

 

227

 

Citigroup’s Net Income

 

$

3,944

 

$

181

 

$

2,841

 

$

344

 

$

4,770

 

$

4,846

 

$

4,291

 

$

3,335

 

$

10,996

 

$

7,491

 

$

13,659

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

1.22

 

$

0.03

 

$

0.88

 

$

0.06

 

$

1.51

 

$

1.51

 

$

1.36

 

$

1.03

 

$

3.58

 

$

2.44

 

$

4.25

 

Citigroup’s Net Income

 

$

1.23

 

$

0.03

 

$

0.88

 

$

0.06

 

$

1.51

 

$

1.51

 

$

1.35

 

$

1.02

 

$

3.60

 

$

2.42

 

$

4.34

 

Shares (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Basic

 

3,037.4

 

3,033.8

 

3,029.5

 

3,025.6

 

3,034.2

 

3,020.0

 

2,993.3

 

2,968.3

 

2,909.8

 

2,930.6

 

3,035.8

 

Average Diluted

 

3,043.3

 

3,038.3

 

3,034.8

 

3,031.5

 

3,039.3

 

3,025.0

 

2,996.9

 

2,969.5

 

2,998.8

 

3,015.5

 

3,041.6

 

Common Shares Outstanding, at period end

 

3,037.8

 

3,031.8

 

3,029.5

 

3,023.9

 

3,034.1

 

3,009.8

 

2,979.0

 

2,953.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Dividends - Basic

 

$

124

 

$

100

 

$

128

 

$

159

 

$

128

 

$

202

 

$

174

 

$

265

 

$

26

 

$

26

 

$

194

 

Preferred Dividends - Diluted

 

$

124

 

$

100

 

$

128

 

$

159

 

$

128

 

$

202

 

$

174

 

$

265

 

$

26

 

$

26

 

$

194

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

3,721

 

$

102

 

$

2,684

 

$

183

 

$

4,585

 

$

4,574

 

$

4,070

 

$

3,072

 

$

10,719

 

$

7,357

 

$

12,937

 

Citigroup’s Net Income

 

$

3,758

 

$

80

 

$

2,669

 

$

182

 

$

4,580

 

$

4,580

 

$

4,061

 

$

3,028

 

$

10,786

 

$

7,301

 

$

13,202

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

$

3,721

 

$

102

 

$

2,684

 

$

183

 

$

4,585

 

$

4,574

 

$

4,070

 

$

3,072

 

$

10,735

 

$

7,368

 

$

12,938

 

Citigroup’s Net Income

 

$

3,758

 

$

80

 

$

2,669

 

$

182

 

$

4,580

 

$

4,580

 

$

4,061

 

$

3,028

 

$

10,802

 

$

7,311

 

$

13,203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulatory Capital Ratios and Performance Metrics:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital Ratio (1) (2)

 

10.45

%

10.57

%

10.64

%

10.57

%

11.06

%

11.37

%

11.67

%

12.07

%

 

 

 

 

 

 

Tier 1 Capital Ratio (1) (2)

 

11.11

%

11.35

%

11.41

%

11.45

%

12.07

%

12.54

%

12.91

%

13.49

%

 

 

 

 

 

 

Total Capital Ratio (1) (2)

 

12.52

%

12.70

%

12.76

%

12.80

%

13.38

%

14.14

%

14.60

%

15.30

%

 

 

 

 

 

 

Supplementary Leverage Ratio (2) (3)

 

5.70

%

5.82

%

5.98

%

5.94

%

6.44

%

6.72

%

6.85

%

7.08

%

 

 

 

 

 

 

Return on Average Assets

 

0.85

%

0.04

%

0.59

%

0.07

%

1.04

%

1.06

%

0.94

%

0.74

%

0.56

%

0.39

%

0.73

%

Return on Average Common Equity

 

7.8

%

0.2

%

5.3

%

0.4

%

9.4

%

9.1

%

8.0

%

5.9

%

6.3

%

4.1

%

7.0

%

Efficiency Ratio (Total Operating Expenses/Total Revenues, net)

 

60

%

80

%

66

%

81

%

55

%

56

%

57

%

60

%

65

%

72

%

63

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars, except Book Value Per Share):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

1,894.4

 

$

1,909.4

 

$

1,882.5

 

$

1,842.2

 

$

1,831.8

 

$

1,829.4

 

$

1,808.4

 

$

1,731.2

 

 

 

 

 

 

 

Total Average Assets

 

1,888.3

 

1,903.3

 

1,895.4

 

1,900.2

 

1,853.1

 

1,839.7

 

1,818.4

 

1,784.3

 

1,952.6

 

1,910.7

 

1,883.3

 

Total Deposits (4)

 

966.3

 

965.7

 

942.7

 

899.3

 

899.6

 

908.0

 

904.2

 

907.9

 

 

 

 

 

 

 

Citigroup’s Stockholders’ Equity

 

208.1

 

211.0

 

211.9

 

210.2

 

214.6

 

219.4

 

220.8

 

221.9

 

 

 

 

 

 

 

Book Value Per Share

 

66.13

 

66.64

 

66.99

 

66.05

 

66.79

 

68.27

 

69.03

 

69.46

 

 

 

 

 

 

 

Tangible Book Value Per Share (5)

 

56.29

 

56.78

 

57.41

 

56.71

 

57.66

 

59.18

 

60.07

 

60.61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct Staff (in thousands)

 

248

 

244

 

243

 

241

 

239

 

238

 

239

 

231

 

 

 

 

 

 

 

 

(1)                              Citigroup’s risk-based capital ratios, which reflect full implementation of the U.S. Basel III rules, are non-GAAP financial measures. These ratios are calculated under the Basel III Advanced Approaches framework.  See page 36 for a reconciliation of Citi’s Common Equity Tier 1 Capital to reported results.

(2)                              Not used.

(3)                              Citigroup’s Supplementary Leverage Ratio (SLR), which reflects full implementation of the U.S. Basel III rules, is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

(4)                              Beginning December 31, 2014, approximately $21 billion of Deposits (and corresponding assets) were reclassified to held-for-sale within Other liabilities and Other assets, respectively, as a result of Citigroup’s entry into an agreement in December 2014 to sell its Japan retail banking business, which was reported in Citi Holdings.  The sale was completed on November 1, 2015.

(5)                              Tangible book value per share is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

 

Note: Ratios and variance percentages are calculated based on the displayed amounts.

N/A  Not applicable.

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP — FINANCIAL SUMMARY

(In millions of dollars, except per share amounts, and as otherwise noted)

 

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Total Revenues, Net of Interest Expense

 

$

77,219

 

$

76,354

 

Total Operating Expenses

 

55,051

 

43,615

 

Net Credit Losses (NCLs)

 

8,973

 

7,302

 

Credit Reserve Build / (Release)

 

(2,145

)

(194

)

Provision for Unfunded Lending Commitments

 

(162

)

74

 

Provision for Benefits and Claims

 

801

 

731

 

Provisions for Credit Losses and for Benefits and Claims

 

$

7,467

 

$

7,913

 

Income from Continuing Operations before Income Taxes

 

14,701

 

24,826

 

Income Taxes (benefits)

 

7,197

 

7,440

 

Income from Continuing Operations

 

$

7,504

 

$

17,386

 

Income (Loss) from Discontinued Operations, net of Taxes

 

(2

)

(54

)

Net Income before Noncontrolling Interests

 

7,502

 

17,332

 

Net Income Attributable to Noncontrolling Interests

 

192

 

90

 

Citigroup’s Net Income

 

$

7,310

 

$

17,242

 

 

 

 

 

 

 

Diluted Earnings Per Share:

 

 

 

 

 

Income from Continuing Operations

 

$

2.20

 

$

5.42

 

Citigroup’s Net Income

 

$

2.20

 

$

5.40

 

Shares (in millions):

 

 

 

 

 

Average Basic

 

3,031.6

 

3,004.0

 

Average Diluted

 

3,037.0

 

3,007.7

 

Common Shares Outstanding, at period end

 

 

 

 

 

 

 

 

 

 

 

Preferred Dividends - Basic

 

$

511

 

$

769

 

Preferred Dividends - Diluted

 

$

511

 

$

769

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Basic

 

 

 

 

 

Income from Continuing Operations

 

$

6,690

 

$

16,302

 

Citigroup’s Net Income

 

$

6,688

 

$

16,249

 

 

 

 

 

 

 

Income Allocated to Unrestricted Common Shareholders - Diluted

 

 

 

 

 

Income from Continuing Operations

 

$

6,691

 

$

16,302

 

Citigroup’s Net Income

 

$

6,689

 

$

16,249

 

 

 

 

 

 

 

Regulatory Capital Ratios and Performance Metrics:

 

 

 

 

 

Common Equity Tier 1 Capital Ratio (1) (2)

 

 

 

 

 

Tier 1 Capital Ratio (1) (2)

 

 

 

 

 

Total Capital Ratio (1) (2)

 

 

 

 

 

Supplementary Leverage Ratio (2) (3)

 

 

 

 

 

Return on Average Assets

 

0.39

%

0.95

%

Return on Average Common Equity

 

3.4

%

8.1

%

Efficiency Ratio (Total Operating Expenses/Total Revenues, net)

 

71

%

57

%

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars, except Book Value Per Share):

 

 

 

 

 

Total Assets

 

 

 

 

 

Total Average Assets

 

$

1,896.8

 

$

1,823.9

 

Total Deposits (4)

 

 

 

 

 

Citigroup’s Stockholders’ Equity

 

 

 

 

 

Book Value Per Share

 

 

 

 

 

Tangible Book Value Per Share (5)

 

 

 

 

 

 

 

 

 

 

 

Direct Staff (in thousands)

 

 

 

 

 

 

(1)                                 Citigroup’s risk-based capital ratios, which reflect full implementation of the U.S. Basel III rules, are non-GAAP financial measures. These ratios are calculated under the Basel III Advanced Approaches framework.  See page 36 for a reconciliation of Citi’s Common Equity Tier 1 Capital to reported results.

(2)                                 Not used.

(3)                                 Citigroup’s Supplementary Leverage Ratio (SLR), which reflects full implementation of the U.S. Basel III rules, is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

(4)                                 Beginning December 31, 2014, approximately $21 billion of Deposits (and corresponding assets) were reclassified to held-for-sale within Other liabilities and Other assets, respectively, as a result of Citigroup’s entry into an agreement in December 2014 to sell its Japan retail banking business, which was reported in Citi Holdings.  The sale was completed on November 1, 2015.

(5)                                 Tangible book value per share is a non-GAAP financial measure.  See page 36 for a reconciliation of this measure to reported results.

 

Note: Ratios and variance percentages are calculated based on the displayed amounts.

N/A  Not applicable.

Reclassified to conform to the current period’s presentation.

 

1


 

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenue

 

$

17,968

 

$

18,378

 

$

17,925

 

$

17,587

 

$

17,294

 

$

16,686

 

$

16,737

 

$

16,581

 

$

15,960

 

$

15,840

 

$

15,463

 

$

15,707

 

Interest expense

 

6,032

 

6,415

 

6,030

 

5,732

 

5,578

 

5,343

 

5,026

 

4,665

 

4,330

 

4,158

 

3,952

 

3,737

 

Net interest revenue

 

11,936

 

11,963

 

11,895

 

11,855

 

11,716

 

11,343

 

11,711

 

11,916

 

11,630

 

11,682

 

11,511

 

11,970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fees

 

3,274

 

3,460

 

2,937

 

2,819

 

3,057

 

2,992

 

3,219

 

3,316

 

3,435

 

3,293

 

3,061

 

3,152

 

Principal transactions

 

3,221

 

2,672

 

2,166

 

(601

)

2,000

 

1,683

 

1,020

 

277

 

2,504

 

2,684

 

1,149

 

965

 

Administrative and other fiduciary fees

 

1,097

 

1,068

 

945

 

885

 

981

 

1,037

 

974

 

1,020

 

1,068

 

1,083

 

968

 

970

 

Realized gains (losses) on investments

 

580

 

583

 

765

 

69

 

1,925

 

273

 

615

 

438

 

450

 

251

 

63

 

(16

)

Other-than-temporary impairment losses on investments and other assets

 

(1,707

)

(171

)

(146

)

(230

)

(1,305

)

(128

)

(3,470

)

(68

)

(261

)

(162

)

(39

)

(73

)

Insurance premiums

 

650

 

662

 

636

 

613

 

612

 

601

 

597

 

585

 

590

 

582

 

556

 

552

 

Other revenue

 

496

 

220

 

1,416

 

1,607

 

274

 

688

 

(927

)

558

 

902

 

1,179

 

672

 

353

 

Total non-interest revenues

 

7,611

 

8,494

 

8,719

 

5,162

 

7,544

 

7,146

 

2,028

 

6,126

 

8,688

 

8,910

 

6,430

 

5,903

 

Total revenues, net of interest expense

 

19,547

 

20,457

 

20,614

 

17,017

 

19,260

 

18,489

 

13,739

 

18,042

 

20,318

 

20,592

 

17,941

 

17,873

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net credit losses

 

6,195

 

5,049

 

4,420

 

4,023

 

3,858

 

3,491

 

3,897

 

2,985

 

2,878

 

2,608

 

2,430

 

2,547

 

Credit reserve build / (release)

 

(3,382

)

(1,980

)

(1,484

)

(1,505

)

(1,149

)

(1,016

)

(1,461

)

(147

)

(664

)

(781

)

(778

)

(636

)

Provision for loan losses

 

2,813

 

3,069

 

2,936

 

2,518

 

2,709

 

2,475

 

2,436

 

2,838

 

2,214

 

1,827

 

1,652

 

1,911

 

Provison for Policyholder benefits and claims

 

260

 

219

 

259

 

234

 

229

 

214

 

225

 

219

 

231

 

200

 

204

 

195

 

Provision for unfunded lending commitments

 

25

 

(13

)

43

 

(4

)

(38

)

7

 

(41

)

56

 

14

 

(3

)

103

 

(34

)

Total provisions for credit losses and for benefits and claims

 

3,098

 

3,275

 

3,238

 

2,748

 

2,900

 

2,696

 

2,620

 

3,113

 

2,459

 

2,024

 

1,959

 

2,072

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

6,392

 

6,650

 

6,205

 

6,367

 

6,362

 

6,105

 

6,113

 

6,539

 

6,335

 

6,075

 

5,828

 

5,729

 

Premises and Equipment

 

821

 

827

 

857

 

805

 

794

 

803

 

842

 

827

 

844

 

762

 

763

 

796

 

Technology / communication expense

 

1,199

 

1,254

 

1,284

 

1,318

 

1,362

 

1,462

 

1,440

 

1,565

 

1,530

 

1,486

 

1,568

 

1,552

 

Advertising and marketing expense

 

375

 

603

 

617

 

673

 

488

 

574

 

589

 

513

 

449

 

480

 

458

 

501

 

Other operating

 

3,335

 

3,411

 

3,294

 

3,893

 

3,209

 

3,049

 

3,111

 

4,289

 

3,130

 

3,346

 

3,062

 

3,714

 

Total operating expenses

 

12,122

 

12,745

 

12,257

 

13,056

 

12,215

 

11,993

 

12,095

 

13,733

 

12,288

 

12,149

 

11,679

 

12,292

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations before Income Taxes

 

4,327

 

4,437

 

5,119

 

1,213

 

4,145

 

3,800

 

(976

)

1,196

 

5,571

 

6,419

 

4,303

 

3,509

 

Provision (benefits) for income taxes

 

1,308

 

1,100

 

1,390

 

222

 

1,129

 

852

 

(1,487

)

(97

)

1,675

 

2,225

 

1,102

 

1,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

3,019

 

3,337

 

3,729

 

991

 

3,016

 

2,948

 

511

 

1,293

 

3,896

 

4,194

 

3,201

 

2,325

 

Discontinued Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Discontinued Operations

 

40

 

(57

)

(14

)

(44

)

23

 

5

 

(1

)

(136

)

(103

)

51

 

33

 

(223

)

Gain (Loss) on Sale

 

4

 

126

 

16

 

9

 

(1

)

—

 

—

 

—

 

56

 

—

 

6

 

206

 

Provision (benefits) for income taxes

 

12

 

19

 

2

 

(21

)

10

 

(2

)

(9

)

(51

)

(14

)

21

 

(53

)

(198

)

Income (Loss) from Discontinued Operations, net of taxes

 

32

 

50

 

—

 

(14

)

12

 

7

 

8

 

(85

)

(33

)

30

 

92

 

181

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income before Noncontrolling Interests

 

3,051

 

3,387

 

3,729

 

977

 

3,028

 

2,955

 

519

 

1,208

 

3,863

 

4,224

 

3,293

 

2,506

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income attributable to noncontrolling interests

 

72

 

62

 

(28

)

42

 

126

 

40

 

25

 

28

 

90

 

36

 

51

 

50

 

Citigroup’s Net Income

 

$

2,979

 

$

3,325

 

$

3,757

 

$

935

 

$

2,902

 

$

2,915

 

$

494

 

$

1,180

 

$

3,773

 

$

4,188

 

$

3,242

 

$

2,456

 

 

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenue

 

$

15,350

 

$

15,561

 

$

15,512

 

$

15,260

 

$

14,600

 

$

14,873

 

$

14,714

 

$

14,364

 

$

71,858

 

$

67,298

 

$

62,970

 

Interest expense

 

3,591

 

3,615

 

3,325

 

3,159

 

3,028

 

3,051

 

2,941

 

2,901

 

24,209

 

20,612

 

16,177

 

Net interest revenue

 

11,759

 

11,946

 

12,187

 

12,101

 

11,572

 

11,822

 

11,773

 

11,463

 

47,649

 

46,686

 

46,793

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fees

 

3,184

 

3,441

 

3,280

 

3,127

 

3,170

 

3,194

 

2,732

 

2,752

 

12,490

 

12,584

 

12,941

 

Principal transactions

 

2,888

 

1,843

 

1,549

 

418

 

1,971

 

2,173

 

1,327

 

537

 

7,458

 

4,980

 

7,302

 

Administrative and other fiduciary fees

 

1,009

 

1,029

 

1,029

 

946

 

962

 

995

 

870

 

821

 

3,995

 

4,012

 

4,089

 

Realized gains (losses) on investments

 

128

 

84

 

136

 

222

 

307

 

183

 

151

 

41

 

1,997

 

3,251

 

748

 

Other-than-temporary impairment losses on investments and other assets

 

(201

)

(37

)

(91

)

(95

)

(72

)

(43

)

(80

)

(70

)

(2,254

)

(4,971

)

(535

)

Insurance premiums

 

545

 

538

 

530

 

497

 

497

 

482

 

464

 

402

 

2,561

 

2,395

 

2,280

 

Other revenue

 

894

 

581

 

1,069

 

683

 

1,329

 

664

 

1,455

 

2,510

 

3,739

 

593

 

3,106

 

Total non-interest revenues

 

8,447

 

7,479

 

7,502

 

5,798

 

8,164

 

7,648

 

6,919

 

6,993

 

29,986

 

22,844

 

29,931

 

Total revenues, net of interest expense

 

20,206

 

19,425

 

19,689

 

17,899

 

19,736

 

19,470

 

18,692

 

18,456

 

77,635

 

69,530

 

76,724

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net credit losses

 

2,439

 

2,189

 

2,097

 

2,248

 

1,957

 

1,920

 

1,663

 

1,762

 

19,687

 

14,231

 

10,463

 

Credit reserve build / (release)

 

(646

)

(610

)

(522

)

(367

)

(202

)

(405

)

(81

)

494

 

(8,351

)

(3,773

)

(2,859

)

Provision for loan losses

 

1,793

 

1,579

 

1,575

 

1,881

 

1,755

 

1,515

 

1,582

 

2,256

 

11,336

 

10,458

 

7,604

 

Provison for Policyholder benefits and claims

 

208

 

182

 

205

 

206

 

197

 

181

 

189

 

164

 

972

 

887

 

830

 

Provision for unfunded lending commitments

 

(27

)

(31

)

(30

)

(74

)

(37

)

(48

)

65

 

94

 

51

 

(16

)

80

 

Total provisions for credit losses and for benefits and claims

 

1,974

 

1,730

 

1,750

 

2,013

 

1,915

 

1,648

 

1,836

 

2,514

 

12,359

 

11,329

 

8,514

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

6,010

 

6,028

 

6,114

 

5,807

 

5,520

 

5,483

 

5,321

 

5,445

 

25,614

 

25,119

 

23,967

 

Premises and Equipment

 

805

 

819

 

804

 

750

 

709

 

737

 

722

 

710

 

3,310

 

3,266

 

3,165

 

Technology / communication expense

 

1,530

 

1,619

 

1,630

 

1,657

 

1,600

 

1,656

 

1,628

 

1,697

 

5,055

 

5,829

 

6,136

 

Advertising and marketing expense

 

458

 

460

 

442

 

484

 

392

 

393

 

391

 

371

 

2,268

 

2,164

 

1,888

 

Other operating

 

3,346

 

6,595

 

3,965

 

5,728

 

2,663

 

2,659

 

2,607

 

2,911

 

13,933

 

13,658

 

13,252

 

Total operating expenses

 

12,149

 

15,521

 

12,955

 

14,426

 

10,884

 

10,928

 

10,669

 

11,134

 

50,180

 

50,036

 

48,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations before Income Taxes

 

6,083

 

2,174

 

4,984

 

1,460

 

6,937

 

6,894

 

6,187

 

4,808

 

15,096

 

8,165

 

19,802

 

Provision (benefits) for income taxes

 

2,131

 

1,921

 

2,068

 

1,077

 

2,120

 

2,036

 

1,881

 

1,403

 

4,020

 

397

 

6,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

3,952

 

253

 

2,916

 

383

 

4,817

 

4,858

 

4,306

 

3,405

 

11,076

 

7,768

 

13,616

 

Discontinued Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Discontinued Operations

 

40

 

(3

)

(25

)

(2

)

(8

)

9

 

(15

)

(69

)

(75

)

(109

)

(242

)

Gain (Loss) on Sale

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

155

 

(1

)

268

 

Provision (benefits) for income taxes

 

3

 

19

 

(9

)

(1

)

(3

)

3

 

(5

)

(24

)

12

 

(52

)

(244

)

Income (Loss) from Discontinued Operations, net of taxes

 

37

 

(22

)

(16

)

(1

)

(5

)

6

 

(10

)

(45

)

68

 

(58

)

270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income before Noncontrolling Interests

 

3,989

 

231

 

2,900

 

382

 

4,812

 

4,864

 

4,296

 

3,360

 

11,144

 

7,710

 

13,886

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income attributable to noncontrolling interests

 

45

 

50

 

59

 

38

 

42

 

18

 

5

 

25

 

148

 

219

 

227

 

Citigroup’s Net Income

 

$

3,944

 

$

181

 

$

2,841

 

$

344

 

$

4,770

 

$

4,846

 

$

4,291

 

$

3,335

 

$

10,996

 

$

7,491

 

$

13,659

 

 

Reclassified to conform to the current period’s presentation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

Revenues

 

 

 

 

 

Interest revenue

 

$

61,683

 

$

58,551

 

Interest expense

 

13,690

 

11,921

 

Net interest revenue

 

47,993

 

46,630

 

 

 

 

 

 

 

Commissions and fees

 

13,032

 

11,848

 

Principal transactions

 

6,698

 

6,008

 

Administrative and other fiduciary fees

 

4,013

 

3,648

 

Realized gains (losses) on investments

 

570

 

682

 

Other-than-temporary impairment losses on investments and other assets

 

(424

)

(265

)

Insurance premiums

 

2,110

 

1,845

 

Other revenue

 

3,227

 

5,958

 

Total non-interest revenues

 

29,226

 

29,724

 

Total revenues, net of interest expense

 

77,219

 

76,354

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

Net credit losses

 

8,973

 

7,302

 

Credit reserve build / (release)

 

(2,145

)

(194

)

Provision for loan losses

 

6,828

 

7,108

 

Provison for Policyholder benefits and claims

 

801

 

731

 

Provision for unfunded lending commitments

 

(162

)

74

 

Total provisions for credit losses and for benefits and claims

 

7,467

 

7,913

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

Compensation and benefits

 

23,959

 

21,769

 

Premises and Equipment

 

3,178

 

2,878

 

Technology / communication expense

 

6,436

 

6,581

 

Advertising and marketing expense

 

1,844

 

1,547

 

Other operating

 

19,634

 

10,840

 

Total operating expenses

 

55,051

 

43,615

 

 

 

 

 

 

 

Income from Continuing Operations before Income Taxes

 

14,701

 

24,826

 

Provision (benefits) for income taxes

 

7,197

 

7,440

 

 

 

 

 

 

 

Income from Continuing Operations

 

7,504

 

17,386

 

Discontinued Operations

 

 

 

 

 

Income (Loss) from Discontinued Operations

 

10

 

(83

)

Gain (Loss) on Sale

 

—

 

—

 

Provision (benefits) for income taxes

 

12

 

(29

)

Income (Loss) from Discontinued Operations, net of taxes

 

(2

)

(54

)

 

 

 

 

 

 

Net Income before Noncontrolling Interests

 

7,502

 

17,332

 

 

 

 

 

 

 

Net Income attributable to noncontrolling interests

 

192

 

90

 

Citigroup’s Net Income

 

$

7,310

 

$

17,242

 

 

Reclassified to conform to the current period’s presentation.

 

2


 

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks (including segregated cash and other deposits)

 

$

27,842

 

$

27,766

 

$

28,950

 

$

28,701

 

$

26,505

 

$

33,927

 

$

33,802

 

$

36,453

 

$

31,150

 

Deposits with banks

 

163,603

 

156,181

 

159,338

 

155,784

 

183,949

 

155,054

 

170,028

 

102,134

 

143,227

 

Fed funds sold and securities borr’d or purch under agree. to resell

 

261,120

 

283,976

 

290,645

 

275,849

 

289,057

 

272,664

 

277,542

 

261,311

 

270,426

 

Brokerage receivables

 

40,901

 

40,695

 

37,992

 

27,777

 

39,443

 

35,340

 

31,077

 

22,490

 

25,235

 

Trading account assets

 

323,110

 

322,349

 

320,637

 

291,734

 

307,050

 

310,246

 

315,201

 

320,929

 

308,321

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale and non-marketable equity securities

 

311,773

 

294,664

 

273,791

 

281,930

 

287,197

 

294,577

 

284,531

 

302,196

 

294,803

 

Held-to-maturity

 

15,484

 

14,910

 

12,866

 

11,483

 

10,126

 

11,349

 

10,943

 

10,130

 

10,056

 

Total Investments

 

327,257

 

309,574

 

286,657

 

293,413

 

297,323

 

305,926

 

295,474

 

312,326

 

304,859

 

Loans, net of unearned income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

436,000

 

437,343

 

421,768

 

420,946

 

413,551

 

406,510

 

404,968

 

405,834

 

392,145

 

Corporate

 

201,136

 

210,157

 

215,471

 

226,296

 

234,471

 

248,458

 

253,455

 

249,630

 

254,219

 

Loans, net of unearned income

 

637,136

 

647,500

 

637,239

 

647,242

 

648,022

 

654,968

 

658,423

 

655,464

 

646,364

 

Allowance for loan losses

 

(36,568

)

(34,362

)

(32,052

)

(30,115

)

(29,020

)

(27,611

)

(25,916

)

(25,455

)

(23,727

)

Total loans, net

 

600,568

 

613,138

 

605,187

 

617,127

 

619,002

 

627,357

 

632,507

 

630,009

 

622,637

 

Goodwill

 

26,339

 

26,621

 

25,496

 

25,413

 

25,810

 

25,483

 

25,915

 

25,673

 

25,474

 

Intangible assets (other than MSRs)

 

7,280

 

7,136

 

6,800

 

6,600

 

6,413

 

6,156

 

5,963

 

5,697

 

5,457

 

Mortgage servicing rights (MSRs)

 

4,690

 

4,258

 

2,852

 

2,569

 

2,691

 

2,117

 

1,920

 

1,942

 

2,203

 

Other assets (2)

 

162,203

 

164,686

 

171,177

 

148,630

 

146,870

 

141,840

 

141,558

 

145,328

 

142,369

 

Total assets

 

$

1,947,585

 

$

1,956,380

 

$

1,935,731

 

$

1,873,597

 

$

1,944,113

 

$

1,916,110

 

$

1,931,031

 

$

1,864,328

 

$

1,881,367

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-interest-bearing deposits in U.S. offices

 

$

81,839

 

$

86,631

 

$

103,129

 

$

119,437

 

$

122,305

 

$

120,324

 

$

133,981

 

$

129,657

 

$

124,487

 

Interest-bearing deposits in U.S. offices

 

222,613

 

220,436

 

218,595

 

223,851

 

228,357

 

233,696

 

239,574

 

247,716

 

260,221

 

Total U.S. Deposits

 

304,452

 

307,067

 

321,724

 

343,288

 

350,662

 

354,020

 

373,555

 

377,373

 

384,708

 

Non-interest-bearing deposits in offices outside the U.S.

 

61,851

 

61,898

 

58,564

 

57,357

 

60,691

 

59,745

 

63,792

 

65,024

 

65,542

 

Interest-bearing deposits in offices outside the U.S.

 

499,560

 

497,345

 

470,993

 

465,291

 

494,659

 

500,543

 

507,297

 

488,163

 

483,512

 

Total International Deposits

 

561,411

 

559,243

 

529,557

 

522,648

 

555,350

 

560,288

 

571,089

 

553,187

 

549,054

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total deposits (2)

 

865,863

 

866,310

 

851,281

 

865,936

 

906,012

 

914,308

 

944,644

 

930,560

 

933,762

 

Fed funds purch and securities loaned or sold under agree. to repurch.

 

187,825

 

203,843

 

223,612

 

198,373

 

226,008

 

214,851

 

224,370

 

211,236

 

222,053

 

Brokerage payables

 

50,394

 

57,245

 

56,093

 

56,696

 

56,966

 

59,133

 

55,376

 

57,013

 

59,299

 

Trading account liabilities

 

146,346

 

152,307

 

148,851

 

126,082

 

135,956

 

128,818

 

129,990

 

115,549

 

120,226

 

Short-term borrowings

 

78,622

 

72,889

 

65,818

 

54,441

 

55,611

 

58,698

 

49,164

 

52,027

 

48,137

 

Long-term debt

 

376,541

 

352,458

 

333,824

 

323,505

 

311,079

 

288,334

 

271,862

 

239,463

 

234,326

 

Other liabilities (2) (3)

 

68,792

 

72,929

 

77,171

 

69,272

 

69,068

 

66,470

 

67,202

 

67,815

 

68,592

 

Total liabilities

 

$

1,774,422

 

$

1,777,981

 

$

1,756,650

 

$

1,694,305

 

$

1,760,700

 

$

1,730,612

 

$

1,742,608

 

$

1,673,663

 

$

1,686,395

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock

 

$

312

 

$

312

 

$

312

 

$

312

 

$

312

 

$

312

 

$

312

 

$

2,562

 

$

3,137

 

Common stock

 

29

 

29

 

29

 

29

 

29

 

29

 

29

 

30

 

31

 

Additional paid-in capital

 

103,004

 

103,475

 

105,562

 

105,804

 

105,787

 

105,962

 

106,203

 

106,391

 

106,661

 

Retained earnings

 

82,324

 

85,611

 

89,341

 

90,239

 

93,000

 

95,875

 

96,335

 

97,477

 

101,213

 

Treasury stock

 

(878

)

(1,087

)

(1,089

)

(1,071

)

(883

)

(859

)

(851

)

(847

)

(991

)

Accumulated other comprehensive income (loss)

 

(13,984

)

(12,222

)

(17,044

)

(17,788

)

(16,735

)

(17,749

)

(15,566

)

(16,896

)

(17,059

)

Total common equity

 

$

170,495

 

$

175,806

 

$

176,799

 

$

177,213

 

$

181,198

 

$

183,258

 

$

186,150

 

$

186,155

 

$

189,855

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup stockholders’ equity

 

$

170,807

 

$

176,118

 

$

177,111

 

$

177,525

 

$

181,510

 

$

183,570

 

$

186,462

 

$

188,717

 

$

192,992

 

Noncontrolling interests

 

2,356

 

2,281

 

1,970

 

1,767

 

1,903

 

1,928

 

1,961

 

1,948

 

1,980

 

Total equity

 

173,163

 

178,399

 

179,081

 

179,292

 

183,413

 

185,498

 

188,423

 

190,665

 

194,972

 

Total liabilities and equity

 

$

1,947,585

 

$

1,956,380

 

$

1,935,731

 

$

1,873,597

 

$

1,944,113

 

$

1,916,110

 

$

1,931,031

 

$

1,864,328

 

$

1,881,367

 

 

(1)                                 Not used.

(2)                                 See footnote 4 on page 1.

(3)                                 Includes allowance for credit losses for letters of credit and unfunded lending commitments.  See page 28 for amounts by period.

 

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

 

 

 

 

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

 

 

2013

 

2013

 

2013

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks (including segregated cash and other deposits)

 

$

31,145

 

$

32,810

 

$

29,885

 

$

33,380

 

$

35,268

 

$

35,976

 

$

32,108

 

$

21,880

 

$

23,413

 

Deposits with banks

 

158,028

 

172,659

 

169,005

 

171,020

 

153,817

 

143,068

 

128,089

 

133,896

 

130,685

 

Fed funds sold and securities borr’d or purch under agree. to resell

 

263,205

 

273,679

 

257,037

 

263,398

 

250,353

 

245,462

 

242,570

 

239,015

 

237,054

 

Brokerage receivables

 

33,484

 

24,976

 

25,674

 

32,484

 

41,864

 

39,298

 

28,419

 

35,637

 

43,921

 

Trading account assets

 

306,570

 

291,722

 

285,928

 

278,180

 

290,776

 

290,822

 

296,786

 

302,983

 

279,197

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale and non-marketable equity securities

 

290,738

 

292,717

 

298,381

 

302,300

 

303,293

 

309,009

 

309,522

 

303,561

 

301,955

 

Held-to-maturity

 

9,602

 

10,808

 

10,599

 

10,600

 

22,330

 

24,038

 

23,921

 

23,254

 

30,166

 

Total Investments

 

300,340

 

303,525

 

308,980

 

312,900

 

325,623

 

333,047

 

333,443

 

326,815

 

332,121

 

Loans, net of unearned income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

378,996

 

384,389

 

390,293

 

380,951

 

380,424

 

372,443

 

365,943

 

337,733

 

338,194

 

Corporate

 

264,745

 

273,162

 

275,179

 

283,270

 

287,080

 

281,383

 

278,692

 

283,321

 

293,924

 

Loans, net of unearned income

 

643,741

 

657,551

 

665,472

 

664,221

 

667,504

 

653,826

 

644,635

 

621,054

 

632,118

 

Allowance for loan losses

 

(21,580

)

(20,605

)

(19,648

)

(18,923

)

(17,890

)

(16,915

)

(15,994

)

(14,598

)

(14,075

)

Total loans, net

 

622,161

 

636,946

 

645,824

 

645,298

 

649,614

 

636,911

 

628,641

 

606,456

 

618,043

 

Goodwill

 

24,896

 

25,098

 

25,009

 

25,008

 

25,087

 

24,500

 

23,592

 

23,150

 

23,012

 

Intangible assets (other than MSRs)

 

4,981

 

4,888

 

5,056

 

4,891

 

4,702

 

4,525

 

4,566

 

4,244

 

4,071

 

Mortgage servicing rights (MSRs)

 

2,524

 

2,580

 

2,718

 

2,586

 

2,282

 

2,093

 

1,845

 

1,685

 

1,924

 

Other assets (2)

 

132,987

 

126,961

 

124,919

 

125,245

 

129,983

 

126,803

 

122,122

 

136,040

 

135,929

 

Total assets

 

$

1,883,627

 

$

1,899,164

 

$

1,880,035

 

$

1,894,390

 

$

1,909,369

 

$

1,882,505

 

$

1,842,181

 

$

1,831,801

 

$

1,829,370

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-interest-bearing deposits in U.S. offices

 

$

124,141

 

$

130,273

 

$

128,399

 

$

135,632

 

$

130,653

 

$

128,243

 

$

128,958

 

$

136,568

 

$

135,013

 

Interest-bearing deposits in U.S. offices

 

270,687

 

266,322

 

284,164

 

280,549

 

289,035

 

285,604

 

284,978

 

275,423

 

268,947

 

Total U.S. Deposits

 

394,828

 

396,595

 

412,563

 

416,181

 

419,688

 

413,847

 

413,936

 

411,991

 

403,960

 

Non-interest-bearing deposits in offices outside the U.S.

 

63,793

 

66,028

 

69,406

 

69,263

 

73,991

 

71,228

 

70,925

 

71,653

 

72,629

 

Interest-bearing deposits in offices outside the U.S.

 

479,806

 

492,837

 

486,304

 

480,819

 

472,046

 

457,580

 

414,471

 

416,003

 

431,448

 

Total International Deposits

 

543,599

 

558,865

 

555,710

 

550,082

 

546,037

 

528,808

 

485,396

 

487,656

 

504,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total deposits (2)

 

938,427

 

955,460

 

968,273

 

966,263

 

965,725

 

942,655

 

899,332

 

899,647

 

908,037

 

Fed funds purch and securities loaned or sold under agree. to repurch.

 

218,252

 

216,387

 

203,512

 

190,676

 

183,912

 

175,732

 

173,438

 

175,371

 

177,012

 

Brokerage payables

 

61,705

 

56,992

 

53,707

 

59,407

 

62,323

 

59,428

 

52,180

 

58,252

 

54,867

 

Trading account liabilities

 

123,022

 

122,048

 

108,762

 

124,040

 

123,370

 

137,272

 

139,036

 

142,438

 

136,295

 

Short-term borrowings

 

58,743

 

58,904

 

58,944

 

58,903

 

59,534

 

64,838

 

58,335

 

39,405

 

25,907

 

Long-term debt

 

220,959

 

221,593

 

221,116

 

222,747

 

226,984

 

223,842

 

223,080

 

210,522

 

211,845

 

Other liabilities (2) (3)

 

62,992

 

63,349

 

59,935

 

62,458

 

74,768

 

65,191

 

85,084

 

90,143

 

94,582

 

Total liabilities

 

$

1,686,162

 

$

1,696,772

 

$

1,674,249

 

$

1,684,494

 

$

1,696,616

 

$

1,668,958

 

$

1,630,485

 

$

1,615,778

 

$

1,608,545

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock

 

$

4,293

 

$

5,243

 

$

6,738

 

$

7,218

 

$

8,968

 

$

8,968

 

$

10,468

 

$

11,968

 

$

13,968

 

Common stock

 

31

 

31

 

31

 

31

 

31

 

31

 

31

 

31

 

31

 

Additional paid-in capital

 

106,876

 

107,030

 

107,193

 

107,505

 

107,669

 

107,839

 

107,979

 

108,124

 

108,219

 

Retained earnings

 

105,364

 

108,465

 

110,821

 

114,745

 

115,015

 

117,697

 

117,852

 

122,463

 

126,954

 

Treasury stock

 

(1,075

)

(1,472

)

(1,658

)

(2,237

)

(2,520

)

(2,631

)

(2,929

)

(3,275

)

(4,628

)

Accumulated other comprehensive income (loss)

 

(19,924

)

(18,798

)

(19,133

)

(19,146

)

(18,147

)

(19,976

)

(23,216

)

(24,691

)

(25,104

)

Total common equity

 

$

191,272

 

$

195,256

 

$

197,254

 

$

200,898

 

$

202,048

 

$

202,960

 

$

199,717

 

$

202,652

 

$

205,472

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup stockholders’ equity

 

$

195,565

 

$

200,499

 

$

203,992

 

$

208,116

 

$

211,016

 

$

211,928

 

$

210,185

 

$

214,620

 

$

219,440

 

Noncontrolling interests

 

1,900

 

1,893

 

1,794

 

1,780

 

1,737

 

1,619

 

1,511

 

1,403

 

1,385

 

Total equity

 

197,465

 

202,392

 

205,786

 

209,896

 

212,753

 

213,547

 

211,696

 

216,023

 

220,825

 

Total liabilities and equity

 

$

1,883,627

 

$

1,899,164

 

$

1,880,035

 

$

1,894,390

 

$

1,909,369

 

$

1,882,505

 

$

1,842,181

 

$

1,831,801

 

$

1,829,370

 

 

(1)                                 Not used.

(2)                                 See footnote 4 on page 1.

(3)                                 Includes allowance for credit losses for letters of credit and unfunded lending commitments.  See page 28 for amounts by period.

 

Reclassified to conform to the current period’s presentation.

 


 

 

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

 

 

 

September 30,

 

December 31,

 

 

 

2015

 

2015

 

Assets

 

 

 

 

 

Cash and due from banks (including segregated cash and other deposits)

 

$

21,726

 

$

20,900

 

Deposits with banks

 

137,935

 

112,197

 

Fed funds sold and securities borr’d or purch under agree. to resell

 

231,695

 

219,675

 

Brokerage receivables

 

37,875

 

27,683

 

Trading account assets

 

266,946

 

249,956

 

Investments

 

 

 

 

 

Available-for-sale and non-marketable equity securities

 

308,499

 

306,740

 

Held-to-maturity

 

33,940

 

36,215

 

Total Investments

 

342,439

 

342,955

 

Loans, net of unearned income

 

 

 

 

 

Consumer

 

329,219

 

325,785

 

Corporate

 

293,225

 

291,832

 

Loans, net of unearned income

 

622,444

 

617,617

 

Allowance for loan losses

 

(13,626

)

(12,626

)

Total loans, net

 

608,818

 

604,991

 

Goodwill

 

22,444

 

22,349

 

Intangible assets (other than MSRs)

 

3,880

 

3,721

 

Mortgage servicing rights (MSRs)

 

1,766

 

1,781

 

Other assets (2)

 

132,832

 

125,002

 

Total assets

 

$

1,808,356

 

$

1,731,210

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Non-interest-bearing deposits in U.S. offices

 

$

141,425

 

$

139,249

 

Interest-bearing deposits in U.S. offices

 

267,057

 

280,234

 

Total U.S. Deposits

 

408,482

 

419,483

 

Non-interest-bearing deposits in offices outside the U.S.

 

73,188

 

71,577

 

Interest-bearing deposits in offices outside the U.S.

 

422,573

 

416,827

 

Total International Deposits

 

495,761

 

488,404

 

 

 

 

 

 

 

Total deposits (2)

 

904,243

 

907,887

 

Fed funds purch and securities loaned or sold under agree. to repurch.

 

168,604

 

146,496

 

Brokerage payables

 

59,557

 

53,722

 

Trading account liabilities

 

125,981

 

117,512

 

Short-term borrowings

 

23,715

 

21,079

 

Long-term debt

 

213,533

 

201,275

 

Other liabilities (2) (3)

 

90,586

 

60,147

 

Total liabilities

 

$

1,586,219

 

$

1,508,118

 

 

 

 

 

 

 

Equity

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

Preferred stock

 

$

15,218

 

$

16,718

 

Common stock

 

31

 

31

 

Additional paid-in capital

 

108,261

 

108,288

 

Retained earnings

 

130,921

 

133,841

 

Treasury stock

 

(6,326

)

(7,677

)

Accumulated other comprehensive income (loss)

 

(27,257

)

(29,344

)

Total common equity

 

$

205,630

 

$

205,139

 

 

 

 

 

 

 

Total Citigroup stockholders’ equity

 

$

220,848

 

$

221,857

 

Noncontrolling interests

 

1,289

 

1,235

 

Total equity

 

222,137

 

223,092

 

Total liabilities and equity

 

$

1,808,356

 

$

1,731,210

 

 

(1)                                 Not used.

(2)                                 See footnote 4 on page 1.

(3)                                 Includes allowance for credit losses for letters of credit and unfunded lending commitments.  See page 28 for amounts by period.

 

Reclassified to conform to the current period’s presentation.

 

3


 

CITIGROUP

SEGMENT DETAIL

NET REVENUES

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITICORP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

4,996

 

$

5,005

 

$

5,155

 

$

5,214

 

$

5,253

 

$

5,186

 

$

5,454

 

$

5,399

 

$

5,187

 

$

5,130

 

$

4,813

 

$

4,945

 

Latin America

 

1,388

 

1,430

 

1,411

 

1,390

 

1,451

 

1,395

 

1,480

 

1,563

 

1,589

 

1,617

 

1,586

 

1,689

 

Asia (1)

 

1,942

 

2,051

 

2,051

 

1,989

 

2,015

 

1,963

 

2,006

 

2,026

 

2,008

 

2,016

 

1,913

 

1,902

 

Total

 

8,326

 

8,486

 

8,617

 

8,593

 

8,719

 

8,544

 

8,940

 

8,988

 

8,784

 

8,763

 

8,312

 

8,536

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

3,196

 

2,755

 

2,238

 

1,456

 

2,718

 

2,620

 

2,468

 

2,410

 

3,695

 

3,136

 

2,525

 

2,338

 

EMEA

 

2,950

 

2,545

 

2,497

 

2,100

 

3,505

 

2,527

 

2,750

 

2,381

 

2,938

 

2,817

 

2,363

 

2,081

 

Latin America

 

1,012

 

1,126

 

957

 

959

 

1,219

 

1,207

 

1,262

 

1,186

 

1,266

 

1,240

 

1,146

 

1,180

 

Asia

 

1,718

 

1,688

 

1,930

 

1,450

 

2,062

 

1,715

 

1,776

 

1,552

 

2,002

 

1,939

 

1,627

 

1,632

 

Total

 

8,876

 

8,114

 

7,622

 

5,965

 

9,504

 

8,069

 

8,256

 

7,529

 

9,901

 

9,132

 

7,661

 

7,231

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

(87

)

251

 

334

 

406

 

525

 

(232

)

75

 

(22

)

50

 

170

 

108

 

(6

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

17,115

 

16,851

 

16,573

 

14,964

 

18,748

 

16,381

 

17,271

 

16,495

 

18,735

 

18,065

 

16,081

 

15,761

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

2,688

 

3,442

 

2,103

 

2,093

 

1,800

 

1,889

 

(2,756

)

2,032

 

1,902

 

2,050

 

2,196

 

2,276

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Revenues (Ex-CVA/DVA) (3)

 

$

19,803

 

$

20,293

 

$

18,676

 

$

17,057

 

$

20,548

 

$

18,270

 

$

14,515

 

$

18,527

 

$

20,637

 

$

20,115

 

$

18,277

 

$

18,037

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit valuation adjustments (CVA) on derivatives (counterparty and own-credit), net of hedges; funding valuation adjustments (FVA) on derivatives; and debt valuation adjustments (DVA) on Citigroup’s fair value option liabilities {collectively referred to as CVA/DVA} (2)

 

(256

)

164

 

1,938

 

(40

)

(1,288

)

219

 

(776

)

(485

)

(319

)

477

 

(336

)

(164

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Revenues

 

$

19,547

 

$

20,457

 

$

20,614

 

$

17,017

 

$

19,260

 

$

18,489

 

$

13,739

 

$

18,042

 

$

20,318

 

$

20,592

 

$

17,941

 

$

17,873

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above. 

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP

SEGMENT DETAIL

NET REVENUES

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITICORP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

4,856

 

$

4,856

 

$

5,071

 

$

5,165

 

$

5,060

 

$

4,895

 

$

4,893

 

$

4,870

 

$

20,370

 

$

21,292

 

$

20,075

 

Latin America

 

1,576

 

1,638

 

1,699

 

1,644

 

1,432

 

1,432

 

1,545

 

1,361

 

5,619

 

5,889

 

6,481

 

Asia (1)

 

1,946

 

1,998

 

2,008

 

1,839

 

1,810

 

1,857

 

1,696

 

1,644

 

8,033

 

8,010

 

7,839

 

Total

 

8,378

 

8,492

 

8,778

 

8,648

 

8,302

 

8,184

 

8,134

 

7,875

 

34,022

 

35,191

 

34,395

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

3,729

 

3,317

 

3,377

 

2,529

 

3,318

 

3,379

 

3,346

 

2,779

 

9,645

 

10,216

 

11,694

 

EMEA

 

2,750

 

2,432

 

2,530

 

2,073

 

3,006

 

2,435

 

2,253

 

2,132

 

10,092

 

11,163

 

10,199

 

Latin America

 

1,145

 

1,148

 

1,012

 

958

 

1,000

 

1,011

 

1,062

 

970

 

4,054

 

4,874

 

4,832

 

Asia

 

1,636

 

1,593

 

1,787

 

1,639

 

1,822

 

1,818

 

1,777

 

1,614

 

6,786

 

7,105

 

7,200

 

Total

 

9,260

 

8,490

 

8,706

 

7,199

 

9,146

 

8,643

 

8,438

 

7,495

 

30,577

 

33,358

 

33,925

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

224

 

90

 

81

 

(92

)

212

 

371

 

218

 

107

 

904

 

346

 

322

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

17,862

 

17,072

 

17,565

 

15,755

 

17,660

 

17,198

 

16,790

 

15,477

 

65,503

 

68,895

 

68,642

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

2,337

 

2,386

 

2,495

 

2,137

 

2,149

 

1,960

 

1,706

 

3,160

 

10,326

 

2,965

 

8,424

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Revenues (Ex-CVA/DVA) (3)

 

$

20,199

 

$

19,458

 

$

20,060

 

$

17,892

 

$

19,809

 

$

19,158

 

$

18,496

 

$

18,637

 

75,829

 

71,860

 

77,066

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit valuation adjustments (CVA) on derivatives (counterparty and own-credit), net of hedges; funding valuation adjustments (FVA) on derivatives; and debt valuation adjustments (DVA) on Citigroup’s fair value option liabilities {collectively referred to as CVA/DVA} (2)

 

7

 

(33

)

(371

)

7

 

(73

)

312

 

196

 

(181

)

1,806

 

(2,330

)

(342

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Revenues

 

$

20,206

 

$

19,425

 

$

19,689

 

$

17,899

 

$

19,736

 

$

19,470

 

$

18,692

 

$

18,456

 

$

77,635

 

$

69,530

 

$

76,724

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above. 

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP

SEGMENT DETAIL

NET REVENUES

(In millions of dollars)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

CITICORP

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

North America

 

$

19,948

 

$

19,718

 

Latin America

 

6,557

 

5,770

 

Asia (1)

 

7,791

 

7,007

 

Total

 

34,296

 

32,495

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

North America

 

12,952

 

12,822

 

EMEA

 

9,785

 

9,826

 

Latin America

 

4,263

 

4,043

 

Asia

 

6,655

 

7,031

 

Total

 

33,655

 

33,722

 

 

 

 

 

 

 

Corporate / Other

 

303

 

908

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

68,254

 

67,125

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

9,355

 

8,975

 

 

 

 

 

 

 

Total Citigroup - Net Revenues (Ex-CVA/DVA) (3)

 

77,609

 

76,100

 

 

 

 

 

 

 

Credit valuation adjustments (CVA) on derivatives (counterparty and own-credit), net of hedges; funding valuation adjustments (FVA) on derivatives; and debt valuation adjustments (DVA) on Citigroup’s fair value option liabilities {collectively referred to as CVA/DVA} (2)

 

(390

)

254

 

 

 

 

 

 

 

Total Citigroup - Net Revenues

 

$

77,219

 

$

76,354

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above. 

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.

 

4


 

CITIGROUP

SEGMENT DETAIL

INCOME

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Income from Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITICORP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

903

 

$

1,085

 

$

1,070

 

$

904

 

$

1,281

 

$

1,153

 

$

1,255

 

$

954

 

$

1,088

 

$

1,096

 

$

910

 

$

882

 

Latin America

 

370

 

329

 

268

 

333

 

305

 

282

 

296

 

385

 

319

 

270

 

211

 

315

 

Asia (1)

 

447

 

435

 

493

 

412

 

445

 

419

 

418

 

320

 

367

 

390

 

347

 

298

 

Total

 

1,720

 

1,849

 

1,831

 

1,649

 

2,031

 

1,854

 

1,969

 

1,659

 

1,774

 

1,756

 

1,468

 

1,495

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

709

 

474

 

190

 

(280

)

625

 

557

 

645

 

507

 

1,302

 

862

 

598

 

478

 

EMEA

 

1,014

 

589

 

609

 

416

 

1,215

 

666

 

829

 

464

 

774

 

876

 

516

 

422

 

Latin America

 

452

 

451

 

355

 

345

 

511

 

497

 

518

 

375

 

482

 

521

 

441

 

202

 

Asia

 

499

 

461

 

672

 

208

 

666

 

436

 

509

 

367

 

694

 

619

 

421

 

479

 

Total

 

2,674

 

1,975

 

1,826

 

689

 

3,017

 

2,156

 

2,501

 

1,713

 

3,252

 

2,878

 

1,976

 

1,581

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

(375

)

(21

)

70

 

98

 

(137

)

(242

)

125

 

(669

)

(141

)

(195

)

59

 

(237

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

4,019

 

3,803

 

3,727

 

2,436

 

4,911

 

3,768

 

4,595

 

2,703

 

4,885

 

4,439

 

3,503

 

2,839

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

(842

)

(568

)

(1,201

)

(1,423

)

(1,095

)

(960

)

(3,599

)

(1,109

)

(791

)

(538

)

(94

)

(414

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income From Continuing Operations - Ex-CVA/DVA

 

3,177

 

3,235

 

2,526

 

1,013

 

3,816

 

2,808

 

996

 

1,594

 

4,094

 

3,901

 

3,409

 

2,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

32

 

50

 

—

 

(14

)

12

 

7

 

8

 

(85

)

(33

)

30

 

92

 

181

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income Attributable to Noncontrolling Interests

 

72

 

62

 

(28

)

42

 

126

 

40

 

25

 

28

 

90

 

36

 

51

 

50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citigroup’s Net Income - Ex-CVA/DVA

 

$

3,137

 

$

3,223

 

$

2,554

 

$

957

 

$

3,702

 

$

2,775

 

$

979

 

$

1,481

 

$

3,971

 

$

3,895

 

$

3,450

 

$

2,556

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CVA/DVA (after-tax) (2)

 

(158

)

102

 

1,203

 

(22

)

(800

)

140

 

(485

)

(301

)

(198

)

293

 

(208

)

(100

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Income

 

$

2,979

 

$

3,325

 

$

3,757

 

$

935

 

$

2,902

 

$

2,915

 

$

494

 

$

1,180

 

$

3,773

 

$

4,188

 

$

3,242

 

$

2,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp - Average Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

797

 

$

799

 

$

780

 

$

777

 

$

790

 

$

806

 

$

822

 

$

816

 

$

801

 

$

820

 

$

822

 

$

844

 

EMEA (1)

 

302

 

340

 

342

 

330

 

326

 

329

 

312

 

320

 

327

 

340

 

322

 

326

 

Latin America

 

155

 

160

 

152

 

145

 

150

 

148

 

153

 

159

 

167

 

167

 

162

 

163

 

Asia (1)

 

315

 

327

 

342

 

333

 

333

 

339

 

340

 

338

 

337

 

334

 

328

 

331

 

Corporate / Other

 

34

 

34

 

39

 

41

 

39

 

42

 

45

 

50

 

50

 

45

 

53

 

57

 

Total

 

$

1,603

 

$

1,660

 

$

1,655

 

$

1,626

 

$

1,638

 

$

1,664

 

$

1,672

 

$

1,683

 

$

1,682

 

$

1,706

 

$

1,687

 

$

1,721

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp - Return on Average Assets (ROA)(Ex-CVA/DVA) (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

0.82

%

0.79

%

0.65

%

0.32

%

0.95

%

0.84

%

0.92

%

0.71

%

1.20

%

0.96

%

0.73

%

0.64

%

EMEA (1)

 

1.33

%

0.68

%

0.68

%

0.47

%

1.47

%

0.82

%

1.03

%

0.56

%

0.92

%

1.00

%

0.62

%

0.50

%

Latin America

 

2.16

%

1.95

%

1.63

%

1.86

%

2.19

%

2.13

%

2.11

%

1.91

%

1.94

%

1.90

%

1.59

%

1.26

%

Asia (1)

 

1.22

%

1.10

%

1.35

%

0.74

%

1.34

%

1.01

%

1.08

%

0.81

%

1.27

%

1.20

%

0.92

%

0.93

%

Corporate/Other

 

(4.09

)%

0.34

%

1.13

%

0.68

%

(1.94

)%

(2.34

)%

1.11

%

(6.04

)%

(1.65

)%

(1.53

)%

0.97

%

(0.58

)%

Total

 

1.02

%

0.93

%

0.90

%

0.58

%

1.18

%

0.90

%

1.09

%

0.61

%

1.15

%

1.04

%

0.83

%

0.69

%

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above.

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

(4)                                 ROA is calculated based on Net Income, excluding CVA/DVA.

 

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP

SEGMENT DETAIL

INCOME

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

Income from Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITICORP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,035

 

$

1,093

 

$

1,204

 

$

1,156

 

$

1,153

 

$

1,085

 

$

1,080

 

$

993

 

$

3,962

 

$

4,643

 

$

3,976

 

Latin America

 

229

 

216

 

296

 

252

 

220

 

190

 

306

 

152

 

1,300

 

1,268

 

1,115

 

Asia (1)

 

359

 

210

 

370

 

282

 

339

 

336

 

305

 

217

 

1,787

 

1,602

 

1,402

 

Total

 

1,623

 

1,519

 

1,870

 

1,690

 

1,712

 

1,611

 

1,691

 

1,362

 

7,049

 

7,513

 

6,493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

1,369

 

1,145

 

961

 

649

 

980

 

989

 

931

 

517

 

1,093

 

2,334

 

3,240

 

EMEA

 

763

 

564

 

659

 

242

 

1,003

 

613

 

408

 

231

 

2,628

 

3,174

 

2,588

 

Latin America

 

388

 

447

 

312

 

282

 

381

 

420

 

397

 

190

 

1,603

 

1,901

 

1,646

 

Asia

 

481

 

449

 

631

 

514

 

654

 

648

 

554

 

441

 

1,840

 

1,978

 

2,213

 

Total

 

3,001

 

2,605

 

2,563

 

1,687

 

3,018

 

2,670

 

2,290

 

1,379

 

7,164

 

9,387

 

9,687

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

(387

)

(384

)

(1,537

)

(3,065

)

(19

)

231

 

183

 

101

 

(228

)

(923

)

(514

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

4,237

 

3,740

 

2,896

 

312

 

4,711

 

4,512

 

4,164

 

2,842

 

13,985

 

15,977

 

15,666

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

(289

)

(3,467

)

248

 

67

 

153

 

150

 

15

 

677

 

(4,034

)

(6,763

)

(1,837

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income From Continuing Operations - Ex-CVA/DVA

 

3,948

 

273

 

3,144

 

379

 

4,864

 

4,662

 

4,179

 

3,519

 

9,951

 

9,214

 

13,829

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

37

 

(22

)

(16

)

(1

)

(5

)

6

 

(10

)

(45

)

68

 

(58

)

270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income Attributable to Noncontrolling Interests

 

45

 

50

 

59

 

38

 

42

 

18

 

5

 

25

 

148

 

219

 

227

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citigroup’s Net Income - Ex-CVA/DVA

 

$

3,940

 

$

201

 

$

3,069

 

$

340

 

$

4,817

 

$

4,650

 

$

4,164

 

$

3,449

 

$

9,871

 

$

8,937

 

$

13,872

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CVA/DVA (after-tax) (2)

 

4

 

(20

)

(228

)

4

 

(47

)

196

 

127

 

(114

)

1,125

 

(1,446

)

(213

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup - Net Income

 

$

3,944

 

$

181

 

$

2,841

 

$

344

 

$

4,770

 

$

4,846

 

$

4,291

 

$

3,335

 

$

10,996

 

$

7,491

 

$

13,659

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp - Average Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

853

 

$

844

 

$

871

 

$

894

 

$

885

 

$

876

 

$

881

 

$

887

 

$

788

 

$

807

 

$

821

 

EMEA (1)

 

336

 

348

 

324

 

329

 

317

 

331

 

312

 

300

 

329

 

322

 

329

 

Latin America

 

163

 

163

 

158

 

152

 

146

 

145

 

139

 

141

 

153

 

153

 

165

 

Asia (1)

 

326

 

334

 

326

 

320

 

311

 

313

 

307

 

308

 

329

 

338

 

333

 

Corporate / Other

 

48

 

55

 

64

 

64

 

60

 

49

 

59

 

51

 

37

 

44

 

51

 

Total

 

$

1,726

 

$

1,744

 

$

1,743

 

$

1,759

 

$

1,719

 

$

1,714

 

$

1,698

 

$

1,687

 

$

1,636

 

$

1,664

 

$

1,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp - Return on Average Assets (ROA)(Ex-CVA/DVA) (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

1.14

%

1.07

%

0.97

%

0.79

%

0.97

%

0.95

%

0.91

%

0.68

%

0.64

%

0.86

%

0.88

%

EMEA (1)

 

0.90

%

0.63

%

0.78

%

0.27

%

1.25

%

0.73

%

0.52

%

0.29

%

0.77

%

0.97

%

0.76

%

Latin America

 

1.53

%

1.63

%

1.52

%

1.39

%

1.67

%

1.68

%

2.00

%

0.95

%

1.90

%

2.07

%

1.67

%

Asia (1)

 

1.04

%

0.78

%

1.21

%

0.98

%

1.30

%

1.26

%

1.10

%

0.85

%

1.10

%

1.06

%

1.08

%

Corporate/Other

 

(3.04

)%

(3.14

)%

(9.65

)%

(19.03

)%

(0.23

)%

1.96

%

1.14

%

0.38

%

(0.36

)%

(2.42

)%

(0.65

)%

Total

 

0.99

%

0.84

%

0.64

%

0.06

%

1.10

%

1.05

%

0.97

%

0.65

%

0.86

%

0.94

%

0.93

%

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above.

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

(4)                                 ROA is calculated based on Net Income, excluding CVA/DVA.

 

Reclassified to conform to the current period’s presentation.

 


 

CITIGROUP

SEGMENT DETAIL

INCOME

(In millions of dollars)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

Income from Continuing Operations:

 

 

 

 

 

CITICORP

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

North America

 

$

4,488

 

$

4,311

 

Latin America

 

993

 

868

 

Asia (1)

 

1,221

 

1,197

 

Total

 

6,702

 

6,376

 

 

 

 

 

 

 

Institutional Clients Group (Ex-CVA/DVA) (3)

 

 

 

 

 

North America

 

4,124

 

3,417

 

EMEA

 

2,228

 

2,255

 

Latin America

 

1,429

 

1,388

 

Asia

 

2,075

 

2,297

 

Total

 

9,856

 

9,357

 

 

 

 

 

 

 

Corporate / Other

 

(5,373

)

496

 

 

 

 

 

 

 

Total Citicorp (Ex-CVA/DVA) (3)

 

11,185

 

16,229

 

 

 

 

 

 

 

Total Citi Holdings (Ex-CVA/DVA) (3)

 

(3,441

)

995

 

 

 

 

 

 

 

Income From Continuing Operations - Ex-CVA/DVA

 

7,744

 

17,224

 

 

 

 

 

 

 

Discontinued Operations

 

(2

)

(54

)

 

 

 

 

 

 

Net Income Attributable to Noncontrolling Interests

 

192

 

90

 

 

 

 

 

 

 

Citigroup’s Net Income - Ex-CVA/DVA

 

$

7,550

 

$

17,080

 

 

 

 

 

 

 

CVA/DVA (after-tax) (2)

 

(240

)

162

 

 

 

 

 

 

 

Total Citigroup - Net Income

 

$

7,310

 

$

17,242

 

 

 

 

 

 

 

Citicorp - Average Assets

 

 

 

 

 

North America

 

$

865

 

$

882

 

EMEA (1)

 

334

 

315

 

Latin America

 

159

 

143

 

Asia (1)

 

327

 

310

 

Corporate / Other

 

58

 

55

 

Total

 

$

1,743

 

$

1,705

 

 

 

 

 

 

 

Citicorp - Return on Average Assets (ROA)(Ex-CVA/DVA) (4)

 

 

 

 

 

North America

 

0.99

%

0.88

%

EMEA (1)

 

0.64

%

0.70

%

Latin America

 

1.52

%

1.57

%

Asia (1)

 

1.00

%

1.13

%

Corporate/Other

 

(9.34

)%

0.77

%

Total

 

0.63

%

0.94

%

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Included, as applicable, in Citicorp-Institutional Clients Group and Citi Holdings lines above.

(3)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

(4)                                 ROA is calculated based on Net Income, excluding CVA/DVA.

 

Reclassified to conform to the current period’s presentation.

 

5


 

 

 

CITICORP
INCOME STATEMENT AND BALANCE SHEET DATA
(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenue

 

$

10,272

 

$

10,266

 

$

10,454

 

$

10,360

 

$

10,397

 

$

10,151

 

$

10,417

 

$

10,675

 

$

10,281

 

$

10,315

 

$

10,175

 

$

10,546

 

Non-interest revenue

 

6,614

 

6,732

 

8,007

 

4,530

 

6,975

 

6,428

 

6,055

 

5,310

 

8,144

 

8,212

 

5,574

 

5,050

 

Total revenues, net of interest expense

 

16,886

 

16,998

 

18,461

 

14,890

 

17,372

 

16,579

 

16,472

 

15,985

 

18,425

 

18,527

 

15,749

 

15,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net credit losses

 

3,030

 

2,724

 

2,388

 

2,297

 

1,984

 

2,012

 

1,933

 

1,846

 

1,789

 

1,715

 

1,637

 

1,651

 

Credit reserve build / (release)

 

(1,768

)

(1,403

)

(954

)

(854

)

(639

)

(790

)

(661

)

(211

)

(331

)

(309

)

(104

)

(110

)

Provision for loan losses

 

1,262

 

1,321

 

1,434

 

1,443

 

1,345

 

1,222

 

1,272

 

1,635

 

1,458

 

1,406

 

1,533

 

1,541

 

Provision for benefits and claims

 

56

 

36

 

55

 

46

 

48

 

39

 

54

 

53

 

52

 

35

 

38

 

40

 

Provision for unfunded lending commitments

 

4

 

(5

)

46

 

47

 

(12

)

26

 

(25

)

51

 

18

 

(10

)

108

 

(27

)

Total provisions for credit losses and for benefits and claims

 

1,322

 

1,352

 

1,535

 

1,536

 

1,381

 

1,287

 

1,301

 

1,739

 

1,528

 

1,431

 

1,679

 

1,554

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

9,904

 

10,266

 

9,946

 

10,314

 

10,162

 

9,911

 

10,075

 

11,201

 

9,947

 

9,808

 

9,522

 

10,003

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations before

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Taxes

 

5,660

 

5,380

 

6,980

 

3,040

 

5,829

 

5,381

 

5,096

 

3,045

 

6,950

 

7,288

 

4,548

 

4,039

 

Provision for income taxes

 

1,783

 

1,486

 

2,081

 

644

 

1,772

 

1,487

 

1,000

 

658

 

2,257

 

2,565

 

1,251

 

1,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

3,877

 

3,894

 

4,899

 

2,396

 

4,057

 

3,894

 

4,096

 

2,387

 

4,693

 

4,723

 

3,297

 

2,739

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Discontinued Operations, net of taxes

 

32

 

50

 

—

 

(14

)

12

 

7

 

8

 

(85

)

(33

)

30

 

92

 

181

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interests

 

11

 

12

 

(35

)

41

 

124

 

39

 

25

 

27

 

85

 

35

 

45

 

46

 

Citicorp’s Net Income

 

$

3,898

 

$

3,932

 

$

4,934

 

$

2,341

 

$

3,945

 

$

3,862

 

$

4,079

 

$

2,275

 

$

4,575

 

$

4,718

 

$

3,344

 

$

2,874

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

$

1,606

 

$

1,642

 

$

1,641

 

$

1,600

 

$

1,685

 

$

1,674

 

$

1,704

 

$

1,653

 

$

1,681

 

$

1,706

 

$

1,728

 

$

1,716

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Assets

 

$

1,603

 

$

1,660

 

$

1,655

 

$

1,626

 

$

1,638

 

$

1,664

 

$

1,672

 

$

1,683

 

$

1,682

 

$

1,706

 

$

1,687

 

$

1,721

 

Return on Average Assets

 

0.99

%

0.95

%

1.18

%

0.57

%

0.97

%

0.93

%

0.97

%

0.54

%

1.10

%

1.11

%

0.79

%

0.66

%

Efficiency Ratio (Operating Expenses/Total Revenues, net)

 

59

%

60

%

54

%

69

%

58

%

60

%

61

%

70

%

54

%

53

%

60

%

64

%

Total EOP Loans

 

$

440

 

$

461

 

$

465

 

$

488

 

$

495

 

$

508

 

$

518

 

$

521

 

$

521

 

$

529

 

$

546

 

$

558

 

Total EOP Deposits

 

$

754

 

$

756

 

$

745

 

$

766

 

$

804

 

$

812

 

$

833

 

$

820

 

$

828

 

$

834

 

$

873

 

$

895

 

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP
INCOME STATEMENT AND BALANCE SHEET DATA
(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenue

 

$

10,346

 

$

10,448

 

$

10,820

 

$

10,822

 

$

10,313

 

$

10,622

 

$

10,622

 

$

10,616

 

$

41,352

 

$

41,640

 

$

41,317

 

Non-interest revenue

 

7,509

 

6,592

 

6,429

 

4,945

 

7,278

 

6,879

 

6,389

 

4,675

 

25,883

 

24,768

 

26,980

 

Total revenues, net of interest expense

 

17,855

 

17,040

 

17,249

 

15,767

 

17,591

 

17,501

 

17,011

 

15,291

 

67,235

 

66,408

 

68,297

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net credit losses

 

1,775

 

1,659

 

1,611

 

1,742

 

1,488

 

1,586

 

1,391

 

1,501

 

10,439

 

7,775

 

6,792

 

Credit reserve build / (release)

 

(305

)

(400

)

(374

)

(146

)

(30

)

(220

)

90

 

421

 

(4,979

)

(2,301

)

(854

)

Provision for loan losses

 

1,470

 

1,259

 

1,237

 

1,596

 

1,458

 

1,366

 

1,481

 

1,922

 

5,460

 

5,474

 

5,938

 

Provision for benefits and claims

 

41

 

26

 

38

 

40

 

28

 

21

 

28

 

30

 

193

 

194

 

165

 

Provision for unfunded lending commitments

 

(22

)

(28

)

(27

)

(74

)

(32

)

(50

)

84

 

95

 

92

 

40

 

89

 

Total provisions for credit losses and for benefits and claims

 

1,489

 

1,257

 

1,248

 

1,562

 

1,454

 

1,337

 

1,593

 

2,047

 

5,745

 

5,708

 

6,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

9,843

 

10,214

 

11,295

 

12,840

 

9,499

 

9,566

 

9,295

 

9,684

 

40,430

 

41,349

 

39,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations before

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Taxes

 

6,523

 

5,569

 

4,706

 

1,365

 

6,638

 

6,598

 

6,123

 

3,560

 

21,060

 

19,351

 

22,825

 

Provision for income taxes

 

2,290

 

1,849

 

2,004

 

1,046

 

1,971

 

1,896

 

1,816

 

835

 

5,994

 

4,917

 

7,373

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations

 

4,233

 

3,720

 

2,702

 

319

 

4,667

 

4,702

 

4,307

 

2,725

 

15,066

 

14,434

 

15,452

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Discontinued Operations, net of taxes

 

37

 

(22

)

(16

)

(1

)

(5

)

6

 

(10

)

(45

)

68

 

(58

)

270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interests

 

43

 

50

 

55

 

38

 

41

 

18

 

5

 

15

 

29

 

215

 

211

 

Citicorp’s Net Income

 

$

4,227

 

$

3,648

 

$

2,631

 

$

280

 

$

4,621

 

$

4,690

 

$

4,292

 

$

2,665

 

$

15,105

 

$

14,161

 

$

15,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

$

1,733

 

$

1,751

 

$

1,737

 

$

1,704

 

$

1,702

 

$

1,705

 

$

1,691

 

$

1,650

 

$

1,600

 

$

1,653

 

$

1,716

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Assets

 

$

1,726

 

$

1,744

 

$

1,743

 

$

1,759

 

$

1,719

 

$

1,714

 

$

1,698

 

$

1,687

 

$

1,636

 

$

1,664

 

$

1,699

 

Return on Average Assets

 

0.99

%

0.84

%

0.60

%

0.06

%

1.09

%

1.10

%

1.00

%

0.63

%

0.92

%

0.85

%

0.91

%

Efficiency Ratio (Operating Expenses/Total Revenues, net)

 

55

%

60

%

65

%

81

%

54

%

55

%

55

%

63

%

60

%

62

%

58

%

Total EOP Loans

 

$

561

 

$

571

 

$

563

 

$

559

 

$

554

 

$

568

 

$

563

 

$

569

 

$

488

 

$

521

 

$

558

 

Total EOP Deposits

 

$

899

 

$

908

 

$

893

 

$

878

 

$

884

 

$

896

 

$

894

 

$

898

 

$

766

 

$

820

 

$

895

 

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP
INCOME STATEMENT AND BALANCE SHEET DATA
(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

Revenues

 

 

 

 

 

Net interest revenue

 

$

42,436

 

$

42,173

 

Non-interest revenue

 

25,475

 

25,221

 

Total revenues, net of interest expense

 

67,911

 

67,394

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

Net credit losses

 

6,787

 

5,966

 

Credit reserve build / (release)

 

(1,225

)

261

 

Provision for loan losses

 

5,562

 

6,227

 

Provision for benefits and claims

 

145

 

107

 

Provision for unfunded lending commitments

 

(151

)

97

 

Total provisions for credit losses and for benefits and claims

 

5,556

 

6,431

 

 

 

 

 

 

 

Total operating expenses

 

44,192

 

38,044

 

 

 

 

 

 

 

Income from Continuing Operations before

 

 

 

 

 

Income Taxes

 

18,163

 

22,919

 

Provision for income taxes

 

7,189

 

6,518

 

 

 

 

 

 

 

Income from Continuing Operations

 

10,974

 

16,401

 

 

 

 

 

 

 

Income (loss) from Discontinued Operations, net of taxes

 

(2

)

(54

)

 

 

 

 

 

 

Noncontrolling interests

 

186

 

79

 

Citicorp’s Net Income

 

$

10,786

 

$

16,268

 

 

 

 

 

 

 

Balance Sheet Data (in billions of dollars):

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

 

 

 

 

 

 

 

 

 

 

Average Assets

 

$

1,743

 

$

1,705

 

Return on Average Assets

 

0.62

%

0.95

%

Efficiency Ratio (Operating Expenses/Total Revenues, net)

 

65

%

56

%

Total EOP Loans

 

 

 

 

 

Total EOP Deposits

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified to conform to the current period’s presentation.

 

6


 

CITICORP
GLOBAL CONSUMER BANKING
Page 1
(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

6,494

 

$

6,528

 

$

6,624

 

$

6,554

 

$

6,512

 

$

6,378

 

$

6,550

 

$

6,667

 

$

6,551

 

$

6,465

 

$

6,523

 

$

6,744

 

Non-Interest Revenue

 

1,832

 

1,958

 

1,993

 

2,039

 

2,207

 

2,166

 

2,390

 

2,321

 

2,233

 

2,298

 

1,789

 

1,792

 

Total Revenues, Net of Interest Expense

 

8,326

 

8,486

 

8,617

 

8,593

 

8,719

 

8,544

 

8,940

 

8,988

 

8,784

 

8,763

 

8,312

 

8,536

 

Total Operating Expenses

 

4,333

 

4,549

 

4,580

 

4,749

 

4,472

 

4,568

 

4,665

 

5,075

 

4,626

 

4,601

 

4,525

 

4,653

 

Net Credit Losses

 

2,818

 

2,572

 

2,290

 

2,128

 

2,037

 

1,883

 

1,788

 

1,768

 

1,748

 

1,659

 

1,568

 

1,623

 

Credit Reserve Build / (Release)

 

(1,376

)

(1,336

)

(979

)

(715

)

(807

)

(771

)

(514

)

(178

)

(351

)

(243

)

(86

)

(13

)

Provision for Unfunded Lending Commitments

 

—

 

—

 

—

 

1

 

—

 

—

 

1

 

(1

)

14

 

10

 

15

 

(3

)

Provision for Benefits and Claims

 

55

 

36

 

56

 

45

 

48

 

40

 

54

 

53

 

52

 

35

 

38

 

40

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

1,497

 

1,272

 

1,367

 

1,459

 

1,278

 

1,152

 

1,329

 

1,642

 

1,463

 

1,461

 

1,535

 

1,647

 

Income from Continuing Operations before Taxes

 

2,496

 

2,665

 

2,670

 

2,385

 

2,969

 

2,824

 

2,946

 

2,271

 

2,695

 

2,701

 

2,252

 

2,236

 

Income Taxes

 

776

 

816

 

839

 

736

 

938

 

970

 

977

 

612

 

921

 

945

 

784

 

741

 

Income from Continuing Operations

 

1,720

 

1,849

 

1,831

 

1,649

 

2,031

 

1,854

 

1,969

 

1,659

 

1,774

 

1,756

 

1,468

 

1,495

 

Noncontrolling Interests

 

(1

)

3

 

2

 

(3

)

2

 

—

 

3

 

2

 

5

 

5

 

5

 

1

 

Net Income

 

$

1,721

 

$

1,846

 

$

1,829

 

$

1,652

 

$

2,029

 

$

1,854

 

$

1,966

 

$

1,657

 

$

1,769

 

$

1,751

 

$

1,463

 

$

1,494

 

Average Assets (in billions of dollars)

 

$

365

 

$

372

 

$

373

 

$

374

 

$

377

 

$

373

 

$

380

 

$

383

 

$

386

 

$

381

 

$

381

 

$

392

 

Return on Average Assets (ROA)

 

1.91

%

1.99

%

1.95

%

1.75

%

2.16

%

2.00

%

2.06

%

1.72

%

1.86

%

1.84

%

1.52

%

1.51

%

Efficiency Ratio

 

52

%

54

%

53

%

55

%

51

%

53

%

52

%

56

%

53

%

53

%

54

%

55

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

4.56

%

4.05

%

3.54

%

3.26

%

3.09

%

2.90

%

2.69

%

2.62

%

2.63

%

2.52

%

2.33

%

2.32

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

3,416

 

$

3,590

 

$

3,622

 

$

3,636

 

$

3,968

 

$

3,878

 

$

4,074

 

$

4,022

 

$

3,970

 

$

3,984

 

$

3,400

 

$

3,405

 

Cards (1)

 

4,910

 

4,896

 

4,995

 

4,957

 

4,751

 

4,666

 

4,866

 

4,966

 

4,814

 

4,779

 

4,912

 

5,131

 

Total

 

$

8,326

 

$

8,486

 

$

8,617

 

$

8,593

 

$

8,719

 

$

8,544

 

$

8,940

 

$

8,988

 

$

8,784

 

$

8,763

 

$

8,312

 

$

8,536

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

229

 

$

235

 

$

230

 

$

220

 

$

218

 

$

198

 

$

242

 

$

277

 

$

250

 

$

241

 

$

247

 

$

279

 

Cards (1)

 

2,589

 

2,337

 

2,060

 

1,908

 

1,819

 

1,685

 

1,546

 

1,491

 

1,498

 

1,418

 

1,321

 

1,344

 

Total

 

$

2,818

 

$

2,572

 

$

2,290

 

$

2,128

 

$

2,037

 

$

1,883

 

$

1,788

 

$

1,768

 

$

1,748

 

$

1,659

 

$

1,568

 

$

1,623

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

589

 

$

572

 

$

608

 

$

644

 

$

815

 

$

755

 

$

782

 

$

622

 

$

670

 

$

633

 

$

258

 

$

332

 

Cards (1)

 

1,131

 

1,277

 

1,223

 

1,005

 

1,216

 

1,099

 

1,187

 

1,037

 

1,104

 

1,123

 

1,210

 

1,163

 

Total

 

$

1,720

 

$

1,849

 

$

1,831

 

$

1,649

 

$

2,031

 

$

1,854

 

$

1,969

 

$

1,659

 

$

1,774

 

$

1,756

 

$

1,468

 

$

1,495

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

8,326

 

$

8,486

 

$

8,617

 

$

8,593

 

$

8,719

 

$

8,544

 

$

8,940

 

$

8,988

 

$

8,784

 

$

8,763

 

$

8,312

 

$

8,536

 

Impact of FX Translation (2)

 

(629

)

(714

)

(610

)

(509

)

(603

)

(511

)

(578

)

(639

)

(664

)

(630

)

(543

)

(581

)

Total Revenues - Ex-FX (3)

 

$

7,697

 

$

7,772

 

$

8,007

 

$

8,084

 

$

8,116

 

$

8,033

 

$

8,362

 

$

8,349

 

$

8,120

 

$

8,133

 

$

7,769

 

$

7,955

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

4,333

 

$

4,549

 

$

4,580

 

$

4,749

 

$

4,472

 

$

4,568

 

$

4,665

 

$

5,075

 

$

4,626

 

$

4,601

 

$

4,525

 

$

4,653

 

Impact of FX Translation (2)

 

(363

)

(442

)

(365

)

(280

)

(325

)

(268

)

(303

)

(357

)

(338

)

(329

)

(268

)

(302

)

Total Operating Expenses - Ex-FX (3)

 

$

3,970

 

$

4,107

 

$

4,215

 

$

4,469

 

$

4,147

 

$

4,300

 

$

4,362

 

$

4,718

 

$

4,288

 

$

4,272

 

$

4,257

 

$

4,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Provisions for LLR & PBC - as Reported

 

$

1,497

 

$

1,272

 

$

1,367

 

$

1,459

 

$

1,278

 

$

1,152

 

$

1,329

 

$

1,642

 

$

1,463

 

$

1,461

 

$

1,535

 

$

1,647

 

Impact of FX Translation (2)

 

(69

)

(95

)

(105

)

(88

)

(103

)

(74

)

(100

)

(117

)

(130

)

(126

)

(126

)

(116

)

Total Provisions for LLR & PBC - Ex-FX (3)

 

$

1,428

 

$

1,177

 

$

1,262

 

$

1,371

 

$

1,175

 

$

1,078

 

$

1,229

 

$

1,525

 

$

1,333

 

$

1,335

 

$

1,409

 

$

1,531

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

1,721

 

$

1,846

 

$

1,829

 

$

1,652

 

$

2,029

 

$

1,854

 

$

1,966

 

$

1,657

 

$

1,769

 

$

1,751

 

$

1,463

 

$

1,494

 

Impact of FX Translation (2)

 

(142

)

(132

)

(107

)

(92

)

(118

)

(118

)

(122

)

(134

)

(120

)

(101

)

(88

)

(102

)

Net Income - Ex-FX (3)

 

$

1,579

 

$

1,714

 

$

1,722

 

$

1,560

 

$

1,911

 

$

1,736

 

$

1,844

 

$

1,523

 

$

1,649

 

$

1,650

 

$

1,375

 

$

1,392

 

 

(1)         Includes both Citi-Branded Cards and Citi Retail Services.

(2)         Reflects the impact of foreign currency (FX) translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)         Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

Page 1

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

6,532

 

$

6,645

 

$

6,842

 

$

6,816

 

$

6,461

 

$

6,457

 

$

6,519

 

$

6,547

 

$

26,200

 

$

26,107

 

$

26,283

 

Non-Interest Revenue

 

1,846

 

1,847

 

1,936

 

1,832

 

1,841

 

1,727

 

1,615

 

1,328

 

7,822

 

9,084

 

8,112

 

Total Revenues, Net of Interest Expense

 

8,378

 

8,492

 

8,778

 

8,648

 

8,302

 

8,184

 

8,134

 

7,875

 

34,022

 

35,191

 

34,395

 

Total Operating Expenses

 

4,557

 

4,809

 

4,638

 

4,677

 

4,305

 

4,338

 

4,231

 

4,346

 

18,211

 

18,780

 

18,405

 

Net Credit Losses

 

1,643

 

1,650

 

1,595

 

1,624

 

1,489

 

1,504

 

1,354

 

1,405

 

9,808

 

7,476

 

6,598

 

Credit Reserve Build / (Release)

 

(219

)

(304

)

(351

)

(249

)

(149

)

(97

)

(103

)

(44

)

(4,406

)

(2,270

)

(693

)

Provision for Unfunded Lending Commitments

 

(2

)

(5

)

(2

)

(16

)

—

 

(4

)

1

 

6

 

1

 

—

 

36

 

Provision for Benefits and Claims

 

41

 

26

 

38

 

40

 

28

 

21

 

28

 

30

 

192

 

195

 

165

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

1,463

 

1,367

 

1,280

 

1,399

 

1,368

 

1,424

 

1,280

 

1,397

 

5,595

 

5,401

 

6,106

 

Income from Continuing Operations before Taxes

 

2,358

 

2,316

 

2,860

 

2,572

 

2,629

 

2,422

 

2,623

 

2,132

 

10,216

 

11,010

 

9,884

 

Income Taxes

 

735

 

797

 

990

 

882

 

917

 

811

 

932

 

770

 

3,167

 

3,497

 

3,391

 

Income from Continuing Operations

 

1,623

 

1,519

 

1,870

 

1,690

 

1,712

 

1,611

 

1,691

 

1,362

 

7,049

 

7,513

 

6,493

 

Noncontrolling Interests

 

7

 

7

 

7

 

3

 

(4

)

5

 

8

 

1

 

1

 

7

 

16

 

Net Income

 

$

1,616

 

$

1,512

 

$

1,863

 

$

1,687

 

$

1,716

 

$

1,606

 

$

1,683

 

$

1,361

 

$

7,048

 

$

7,506

 

$

6,477

 

Average Assets (in billions of dollars)

 

$

391

 

$

394

 

$

396

 

$

392

 

$

380

 

$

381

 

$

375

 

$

379

 

$

371

 

$

378

 

$

385

 

Return on Average Assets (ROA)

 

1.68

%

1.54

%

1.87

%

1.71

%

1.83

%

1.69

%

1.78

%

1.42

%

1.90

%

1.99

%

1.68

%

Efficiency Ratio

 

54

%

57

%

53

%

54

%

52

%

53

%

52

%

55

%

54

%

53

%

54

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

2.40

%

2.36

%

2.24

%

2.30

%

2.21

%

2.21

%

1.99

%

2.04

%

3.84

%

2.83

%

2.45

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

3,478

 

$

3,558

 

$

3,662

 

$

3,642

 

$

3,538

 

$

3,533

 

$

3,514

 

$

3,280

 

$

14,264

 

$

15,942

 

$

14,759

 

Cards (1)

 

4,900

 

4,934

 

5,116

 

5,006

 

4,764

 

4,651

 

4,620

 

4,595

 

19,758

 

19,249

 

19,636

 

Total

 

$

8,378

 

$

8,492

 

$

8,778

 

$

8,648

 

$

8,302

 

$

8,184

 

$

8,134

 

$

7,875

 

$

34,022

 

$

35,191

 

$

34,395

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

270

 

$

280

 

$

275

 

$

331

 

$

255

 

$

261

 

$

247

 

$

295

 

$

914

 

$

935

 

$

1,017

 

Cards (1)

 

1,373

 

1,370

 

1,320

 

1,293

 

1,234

 

1,243

 

1,107

 

1,110

 

8,894

 

6,541

 

5,581

 

Total

 

$

1,643

 

$

1,650

 

$

1,595

 

$

1,624

 

$

1,489

 

$

1,504

 

$

1,354

 

$

1,405

 

$

9,808

 

$

7,476

 

$

6,598

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

388

 

$

336

 

$

539

 

$

478

 

$

579

 

$

549

 

$

574

 

$

313

 

$

2,413

 

$

2,974

 

$

1,893

 

Cards (1)

 

1,235

 

1,183

 

1,331

 

1,212

 

1,133

 

1,062

 

1,117

 

1,049

 

4,636

 

4,539

 

4,600

 

Total

 

$

1,623

 

$

1,519

 

$

1,870

 

$

1,690

 

$

1,712

 

$

1,611

 

$

1,691

 

$

1,362

 

$

7,049

 

$

7,513

 

$

6,493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

8,378

 

$

8,492

 

$

8,778

 

$

8,648

 

$

8,302

 

$

8,184

 

$

8,134

 

$

7,875

 

$

34,022

 

$

35,191

 

$

34,395

 

Impact of FX Translation (2)

 

(517

)

(589

)

(550

)

(390

)

(215

)

(209

)

(26

)

—

 

(2,129

)

(1,939

)

(2,006

)

Total Revenues - Ex-FX (3)

 

$

7,861

 

$

7,903

 

$

8,228

 

$

8,258

 

$

8,087

 

$

7,975

 

$

8,108

 

$

7,875

 

$

31,893

 

$

33,252

 

$

32,389

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

4,557

 

$

4,809

 

$

4,638

 

$

4,677

 

$

4,305

 

$

4,338

 

$

4,231

 

$

4,346

 

$

18,211

 

$

18,780

 

$

18,405

 

Impact of FX Translation (2)

 

(292

)

(360

)

(309

)

(224

)

(116

)

(117

)

(16

)

—

 

(1,247

)

(1,037

)

(1,024

)

Total Operating Expenses - Ex-FX (3)

 

$

4,265

 

$

4,449

 

$

4,329

 

$

4,453

 

$

4,189

 

$

4,221

 

$

4,215

 

$

4,346

 

$

16,964

 

$

17,743

 

$

17,381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Provisions for LLR & PBC - as Reported

 

$

1,463

 

$

1,367

 

$

1,280

 

$

1,399

 

$

1,368

 

$

1,424

 

$

1,280

 

$

1,397

 

$

5,595

 

$

5,401

 

$

6,106

 

Impact of FX Translation (2)

 

(116

)

(147

)

(119

)

(94

)

(45

)

(39

)

(5

)

—

 

(317

)

(326

)

(416

)

Total Provisions for LLR & PBC - Ex-FX (3)

 

$

1,347

 

$

1,220

 

$

1,161

 

$

1,305

 

$

1,323

 

$

1,385

 

$

1,275

 

$

1,397

 

$

5,278

 

$

5,075

 

$

5,690

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

1,616

 

$

1,512

 

$

1,863

 

$

1,687

 

$

1,716

 

$

1,606

 

$

1,683

 

$

1,361

 

$

7,048

 

$

7,506

 

$

6,477

 

Impact of FX Translation (2)

 

(69

)

(57

)

(81

)

(57

)

(36

)

(35

)

(5

)

—

 

(408

)

(416

)

(339

)

Net Income - Ex-FX (3)

 

$

1,547

 

$

1,455

 

$

1,782

 

$

1,630

 

$

1,680

 

$

1,571

 

$

1,678

 

$

1,361

 

$

6,640

 

$

7,090

 

$

6,138

 

 

(1)                                 Includes both Citi-Branded Cards and Citi Retail Services.

(2)                                 Reflects the impact of foreign currency (FX) translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

Page 1

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Net Interest Revenue

 

$

26,835

 

$

25,984

 

Non-Interest Revenue

 

7,461

 

6,511

 

Total Revenues, Net of Interest Expense

 

34,296

 

32,495

 

Total Operating Expenses

 

18,681

 

17,220

 

Net Credit Losses

 

6,512

 

5,752

 

Credit Reserve Build / (Release)

 

(1,123

)

(393

)

Provision for Unfunded Lending Commitments

 

(25

)

3

 

Provision for Benefits and Claims

 

145

 

107

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

5,509

 

5,469

 

Income from Continuing Operations before Taxes

 

10,106

 

9,806

 

Income Taxes

 

3,404

 

3,430

 

Income from Continuing Operations

 

6,702

 

6,376

 

Noncontrolling Interests

 

24

 

10

 

Net Income

 

$

6,678

 

$

6,366

 

Average Assets (in billions of dollars)

 

$

393

 

$

379

 

Return on Average Assets (ROA)

 

1.70

%

1.68

%

Efficiency Ratio

 

54

%

53

%

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

2.32

%

2.11

%

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

Retail Banking

 

$

14,340

 

$

13,865

 

Cards (1)

 

19,956

 

18,630

 

Total

 

$

34,296

 

$

32,495

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

Retail Banking

 

$

1,156

 

$

1,058

 

Cards (1)

 

5,356

 

4,694

 

Total

 

$

6,512

 

$

5,752

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

Retail Banking

 

$

1,741

 

$

2,015

 

Cards (1)

 

4,961

 

4,361

 

Total

 

$

6,702

 

$

6,376

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

Total Revenue - as Reported

 

$

34,296

 

$

32,495

 

Impact of FX Translation (2)

 

(1,621

)

—

 

Total Revenues - Ex-FX (3)

 

$

32,675

 

$

32,495

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

18,681

 

$

17,220

 

Impact of FX Translation (2)

 

(938

)

—

 

Total Operating Expenses - Ex-FX (3)

 

$

17,743

 

$

17,220

 

 

 

 

 

 

 

Total Provisions for LLR & PBC - as Reported

 

$

5,509

 

$

5,469

 

Impact of FX Translation (2)

 

(383

)

—

 

Total Provisions for LLR & PBC - Ex-FX (3)

 

$

5,126

 

$

5,469

 

 

 

 

 

 

 

Net Income - as Reported

 

$

6,678

 

$

6,366

 

Impact of FX Translation (2)

 

(201

)

—

 

Net Income - Ex-FX (3)

 

$

6,477

 

$

6,366

 

 

(1)                                 Includes both Citi-Branded Cards and Citi Retail Services.

(2)                                 Reflects the impact of foreign currency (FX) translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

7


 

CITICORP

GLOBAL CONSUMER BANKING

Page 2

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

3,585

 

3,586

 

3,565

 

3,577

 

3,538

 

3,478

 

3,471

 

3,440

 

3,363

 

3,361

 

3,320

 

3,294

 

3,185

 

Accounts (in millions)

 

53.2

 

53.9

 

54.2

 

54.4

 

55.9

 

57.1

 

57.2

 

57.0

 

57.0

 

57.1

 

56.9

 

56.9

 

56.6

 

Average Deposits

 

$

272.8

 

$

278.5

 

$

276.3

 

$

275.5

 

$

280.4

 

$

279.7

 

$

286.2

 

$

291.5

 

$

294.6

 

$

291.8

 

$

289.5

 

$

295.8

 

$

297.7

 

Investment Sales

 

$

22.1

 

$

21.0

 

$

18.5

 

$

15.2

 

$

20.0

 

$

18.1

 

$

22.1

 

$

21.6

 

$

25.9

 

$

26.0

 

$

21.7

 

$

21.5

 

$

25.2

 

Investment Assets under Management (AUMs)

 

$

122.5

 

$

126.2

 

$

111.5

 

$

114.1

 

$

123.4

 

$

121.0

 

$

131.5

 

$

134.2

 

$

143.9

 

$

138.6

 

$

143.3

 

$

149.3

 

$

151.3

 

Average Loans

 

$

110.5

 

$

117.2

 

$

118.8

 

$

121.1

 

$

128.2

 

$

127.3

 

$

130.0

 

$

133.3

 

$

135.6

 

$

133.5

 

$

135.3

 

$

139.2

 

$

141.0

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

62.8

 

$

65.6

 

$

65.7

 

$

69.4

 

$

72.5

 

$

71.9

 

$

73.5

 

$

74.7

 

$

75.3

 

$

72.7

 

$

75.2

 

$

76.9

 

$

78.5

 

Commercial Markets

 

30.2

 

32.3

 

31.5

 

31.2

 

32.4

 

31.8

 

32.6

 

33.3

 

34.4

 

34.8

 

34.7

 

35.7

 

36.1

 

Personal and Other

 

21.0

 

21.2

 

20.5

 

23.0

 

24.0

 

24.2

 

25.7

 

26.3

 

26.7

 

26.2

 

26.4

 

27.5

 

28.4

 

EOP Loans

 

$

114.0

 

$

119.1

 

$

117.7

 

$

123.6

 

$

128.9

 

$

127.9

 

$

131.8

 

$

134.3

 

$

136.4

 

$

133.7

 

$

136.3

 

$

140.1

 

$

143.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (1)

 

$

2,313

 

$

2,359

 

$

2,374

 

$

2,369

 

$

2,407

 

$

2,358

 

$

2,373

 

$

2,404

 

$

2,361

 

$

2,319

 

$

2,236

 

$

2,231

 

$

2,164

 

As a % of Average Loans

 

8.49

%

8.07

%

7.93

%

7.76

%

7.55

%

7.45

%

7.26

%

7.17

%

7.06

%

6.97

%

6.56

%

6.36

%

6.22

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (in millions)

 

$

229

 

$

235

 

$

230

 

$

220

 

$

218

 

$

198

 

$

242

 

$

277

 

$

250

 

$

241

 

$

247

 

$

279

 

$

270

 

As a % of Average Loans

 

0.84

%

0.80

%

0.77

%

0.72

%

0.68

%

0.63

%

0.74

%

0.83

%

0.75

%

0.72

%

0.72

%

0.80

%

0.78

%

Loans 90+ Days Past Due (in millions) (2) (3)

 

$

645

 

$

660

 

$

648

 

$

642

 

$

711

 

$

744

 

$

742

 

$

742

 

$

742

 

$

710

 

$

745

 

$

840

 

$

890

 

As a % of EOP Loans

 

0.57

%

0.56

%

0.56

%

0.52

%

0.56

%

0.59

%

0.57

%

0.56

%

0.55

%

0.54

%

0.55

%

0.60

%

0.63

%

Loans 30-89 Days Past Due (in millions) (2)

 

$

922

 

$

877

 

$

803

 

$

863

 

$

857

 

$

878

 

$

969

 

$

921

 

$

1,003

 

$

906

 

$

941

 

$

893

 

$

839

 

As a % of EOP Loans

 

0.82

%

0.74

%

0.69

%

0.71

%

0.67

%

0.69

%

0.74

%

0.69

%

0.74

%

0.68

%

0.70

%

0.64

%

0.59

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards Key Indicators (in millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

130.7

 

130.3

 

130.0

 

130.5

 

128.1

 

127.3

 

127.2

 

127.5

 

126.7

 

125.6

 

138.7

 

139.1

 

137.1

 

Purchase Sales (in billions)

 

$

72.7

 

$

81.3

 

$

80.4

 

$

85.4

 

$

76.2

 

$

81.3

 

$

80.9

 

$

87.6

 

$

77.5

 

$

85.0

 

$

83.8

 

$

92.6

 

$

79.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (4)

 

$

139.9

 

$

137.6

 

$

137.6

 

$

137.7

 

$

137.2

 

$

133.5

 

$

134.0

 

$

134.8

 

$

133.6

 

$

130.9

 

$

131.7

 

$

138.2

 

$

137.2

 

EOP Loans (in billions) (4)

 

$

137.1

 

$

139.4

 

$

137.2

 

$

142.3

 

$

135.3

 

$

134.9

 

$

135.2

 

$

138.9

 

$

131.7

 

$

131.8

 

$

137.7

 

$

143.5

 

$

135.1

 

Average Yield (5)

 

14.08

%

13.78

%

13.70

%

13.53

%

13.60

%

13.42

%

13.43

%

13.41

%

13.53

%

13.34

%

13.32

%

13.21

%

13.32

%

Net Interest Revenue (6)

 

$

4,181

 

$

4,169

 

$

4,250

 

$

4,185

 

$

4,105

 

$

4,020

 

$

4,177

 

$

4,263

 

$

4,190

 

$

4,146

 

$

4,287

 

$

4,513

 

$

4,368

 

As a % of Average Loans (6)

 

12.12

%

12.15

%

12.25

%

12.06

%

12.03

%

12.11

%

12.40

%

12.58

%

12.72

%

12.70

%

12.91

%

12.96

%

12.91

%

Net Credit Losses

 

$

2,589

 

$

2,337

 

$

2,060

 

$

1,908

 

$

1,819

 

$

1,685

 

$

1,546

 

$

1,491

 

$

1,498

 

$

1,418

 

$

1,321

 

$

1,344

 

$

1,373

 

As a % of Average Loans

 

7.51

%

6.81

%

5.94

%

5.50

%

5.33

%

5.08

%

4.59

%

4.40

%

4.55

%

4.34

%

3.98

%

3.86

%

4.06

%

Net Credit Margin (7)

 

$

2,304

 

$

2,545

 

$

2,917

 

$

3,034

 

$

2,919

 

$

2,962

 

$

3,303

 

$

3,457

 

$

3,302

 

$

3,349

 

$

3,573

 

$

3,770

 

$

3,519

 

As a % of Average Loans (7)

 

6.68

%

7.42

%

8.41

%

8.74

%

8.56

%

8.92

%

9.81

%

10.20

%

10.02

%

10.26

%

10.76

%

10.82

%

10.40

%

Loans 90+ Days Past Due

 

$

2,974

 

$

2,569

 

$

2,343

 

$

2,345

 

$

2,221

 

$

1,948

 

$

1,888

 

$

1,946

 

$

1,830

 

$

1,649

 

$

1,683

 

$

1,878

 

$

1,784

 

As a % of EOP Loans

 

2.17

%

1.84

%

1.71

%

1.65

%

1.64

%

1.44

%

1.40

%

1.40

%

1.39

%

1.25

%

1.22

%

1.31

%

1.32

%

Loans 30-89 Days Past Due

 

$

3,156

 

$

2,852

 

$

2,774

 

$

2,735

 

$

2,370

 

$

2,094

 

$

2,102

 

$

2,109

 

$

1,910

 

$

1,716

 

$

1,943

 

$

2,023

 

$

1,866

 

As a % of EOP Loans

 

2.30

%

2.05

%

2.02

%

1.92

%

1.75

%

1.55

%

1.55

%

1.52

%

1.45

%

1.30

%

1.41

%

1.41

%

1.38

%

 

(1)

 

Also includes net interest revenue related to the international regions’ deposit balances in excess of the average loan portfolio.

(2)

 

The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies. See footnote 1 on page 10.

(3)

 

The fourth quarter of 2014 reflects a $71 million charge-off related to Citi’s homebuilder exposure in Mexico, which was offset by a related release of previously established loan loss reserves, and therefore neutral to the cost of credit during the quarter. The charge-off reduced Loans 90+ Days Past Due by the same amount.

(4)

 

Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(5)

 

Average yield is gross interest revenue earned divided by average loans.

(6)

 

Net interest revenue includes certain fees that are recorded as interest revenue.

(7)

 

Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

Page 2

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

3,082

 

3,060

 

2,919

 

2,817

 

2,805

 

2,795

 

2,785

 

Accounts (in millions)

 

56.8

 

56.2

 

55.4

 

55.1

 

55.2

 

56.2

 

56.2

 

Average Deposits

 

$

302.3

 

$

301.5

 

$

298.2

 

$

297.9

 

$

297.9

 

$

294.9

 

$

295.2

 

Investment Sales

 

$

24.9

 

$

28.1

 

$

22.7

 

$

25.5

 

$

25.5

 

$

19.7

 

$

17.3

 

Investment Assets under Management (AUMs)

 

$

158.9

 

$

157.7

 

$

153.3

 

$

153.3

 

$

154.0

 

$

144.4

 

$

152.6

 

Average Loans

 

$

145.3

 

$

146.5

 

$

145.3

 

$

141.3

 

$

142.7

 

$

140.1

 

$

141.2

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

80.9

 

$

81.3

 

$

79.4

 

$

79.3

 

$

80.1

 

$

79.0

 

$

80.2

 

Commercial Markets

 

36.7

 

35.9

 

34.0

 

33.3

 

33.7

 

32.3

 

31.3

 

Personal and Other

 

29.2

 

29.0

 

28.3

 

28.4

 

28.9

 

28.1

 

29.2

 

EOP Loans

 

$

146.8

 

$

146.2

 

$

141.7

 

$

141.0

 

$

142.7

 

$

139.4

 

$

140.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (1)

 

$

2,257

 

$

2,309

 

$

2,299

 

$

2,162

 

$

2,214

 

$

2,200

 

$

2,215

 

As a % of Average Loans

 

6.23

%

6.25

%

6.28

%

6.21

%

6.22

%

6.23

%

6.22

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (in millions)

 

$

280

 

$

275

 

$

331

 

$

255

 

$

261

 

$

247

 

$

295

 

As a % of Average Loans

 

0.77

%

0.74

%

0.90

%

0.73

%

0.73

%

0.70

%

0.83

%

Loans 90+ Days Past Due (in millions) (2) (3)

 

$

904

 

$

868

 

$

736

 

$

540

 

$

567

 

$

529

 

$

523

 

As a % of EOP Loans

 

0.62

%

0.60

%

0.52

%

0.39

%

0.40

%

0.38

%

0.37

%

Loans 30-89 Days Past Due (in millions) (2)

 

$

883

 

$

840

 

$

794

 

$

791

 

$

746

 

$

764

 

$

739

 

As a % of EOP Loans

 

0.61

%

0.58

%

0.56

%

0.57

%

0.53

%

0.55

%

0.53

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards Key Indicators (in millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

137.6

 

135.4

 

136.3

 

135.6

 

135.9

 

135.6

 

135.9

 

Purchase Sales (in billions)

 

$

89.2

 

$

88.1

 

$

94.0

 

$

80.1

 

$

89.7

 

$

88.6

 

$

96.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (4)

 

$

135.4

 

$

135.5

 

$

135.3

 

$

132.4

 

$

129.9

 

$

129.7

 

$

131.5

 

EOP Loans (in billions) (4)

 

$

137.4

 

$

135.7

 

$

139.3

 

$

129.8

 

$

131.7

 

$

130.3

 

$

136.3

 

Average Yield (5)

 

13.37

%

13.43

%

13.37

%

13.39

%

13.33

%

13.25

%

13.09

%

Net Interest Revenue (6)

 

$

4,388

 

$

4,533

 

$

4,517

 

$

4,299

 

$

4,243

 

$

4,319

 

$

4,332

 

As a % of Average Loans (6)

 

13.00

%

13.27

%

13.25

%

13.17

%

13.10

%

13.21

%

13.07

%

Net Credit Losses

 

$

1,370

 

$

1,320

 

$

1,293

 

$

1,234

 

$

1,243

 

$

1,107

 

$

1,110

 

As a % of Average Loans

 

4.06

%

3.86

%

3.79

%

3.78

%

3.84

%

3.39

%

3.35

%

Net Credit Margin (7)

 

$

3,555

 

$

3,784

 

$

3,702

 

$

3,520

 

$

3,399

 

$

3,501

 

$

3,476

 

As a % of Average Loans (7)

 

10.53

%

11.08

%

10.86

%

10.78

%

10.50

%

10.71

%

10.49

%

Loans 90+ Days Past Due

 

$

1,657

 

$

1,640

 

$

1,708

 

$

1,592

 

$

1,453

 

$

1,452

 

$

1,596

 

As a % of EOP Loans

 

1.21

%

1.21

%

1.23

%

1.23

%

1.10

%

1.11

%

1.17

%

Loans 30-89 Days Past Due

 

$

1,794

 

$

1,849

 

$

1,792

 

$

1,623

 

$

1,544

 

$

1,663

 

$

1,679

 

As a % of EOP Loans

 

1.31

%

1.36

%

1.29

%

1.25

%

1.17

%

1.28

%

1.23

%

 

(1)

 

Also includes net interest revenue related to the international regions’ deposit balances in excess of the average loan portfolio.

(2)

 

The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies. See footnote 1 on page 10.

(3)

 

The fourth quarter of 2014 reflects a $71 million charge-off related to Citi’s homebuilder exposure in Mexico, which was offset by a related release of previously established loan loss reserves, and therefore neutral to the cost of credit during the quarter. The charge-off reduced Loans 90+ Days Past Due by the same amount.

(4)

 

Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(5)

 

Average yield is gross interest revenue earned divided by average loans.

(6)

 

Net interest revenue includes certain fees that are recorded as interest revenue.

(7)

 

Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.

 

8


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 1

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

4,229

 

$

4,213

 

$

4,291

 

$

4,272

 

$

4,148

 

$

4,052

 

$

4,196

 

$

4,253

 

$

4,188

 

$

4,102

 

$

4,173

 

$

4,340

 

Non-Interest Revenue

 

767

 

792

 

864

 

942

 

1,105

 

1,134

 

1,258

 

1,146

 

999

 

1,028

 

640

 

605

 

Total Revenues, Net of Interest Expense

 

4,996

 

5,005

 

5,155

 

5,214

 

5,253

 

5,186

 

5,454

 

5,399

 

5,187

 

5,130

 

4,813

 

4,945

 

Total Operating Expenses

 

2,379

 

2,434

 

2,514

 

2,781

 

2,458

 

2,573

 

2,588

 

2,795

 

2,547

 

2,506

 

2,472

 

2,533

 

Net Credit Losses

 

2,371

 

2,133

 

1,854

 

1,741

 

1,629

 

1,510

 

1,353

 

1,267

 

1,256

 

1,188

 

1,082

 

1,108

 

Credit Reserve Build / (Release)

 

(1,201

)

(1,238

)

(955

)

(786

)

(842

)

(814

)

(519

)

(215

)

(370

)

(350

)

(227

)

(88

)

Provision for Unfunded Lending Commitments

 

—

 

—

 

—

 

1

 

—

 

—

 

1

 

(1

)

—

 

—

 

4

 

2

 

Provision for Benefits and Claims

 

17

 

14

 

18

 

13

 

14

 

19

 

18

 

18

 

13

 

13

 

17

 

16

 

Provisions for Loan Losses and for Benefits and Claims

 

1,187

 

909

 

917

 

969

 

801

 

715

 

853

 

1,069

 

899

 

851

 

876

 

1,038

 

Income from Continuing Operations before Taxes

 

1,430

 

1,662

 

1,724

 

1,464

 

1,994

 

1,898

 

2,013

 

1,535

 

1,741

 

1,773

 

1,465

 

1,374

 

Income Taxes (benefits)

 

527

 

577

 

654

 

560

 

713

 

745

 

758

 

581

 

653

 

677

 

555

 

492

 

Income from Continuing Operations

 

903

 

1,085

 

1,070

 

904

 

1,281

 

1,153

 

1,255

 

954

 

1,088

 

1,096

 

910

 

882

 

Noncontrolling Interests

 

—

 

—

 

—

 

—

 

—

 

—

 

(1

)

—

 

1

 

—

 

1

 

—

 

Net Income

 

$

903

 

$

1,085

 

$

1,070

 

$

904

 

$

1,281

 

$

1,153

 

$

1,256

 

$

954

 

$

1,087

 

$

1,096

 

$

909

 

$

882

 

Average Assets (in billions of dollars)

 

$

193

 

$

192

 

$

197

 

$

201

 

$

200

 

$

202

 

$

204

 

$

204

 

$

202

 

$

201

 

$

203

 

$

211

 

Return on Average Assets

 

1.90

%

2.27

%

2.15

%

1.78

%

2.58

%

2.30

%

2.45

%

1.86

%

2.18

%

2.19

%

1.78

%

1.66

%

Efficiency Ratio

 

48

%

49

%

49

%

53

%

47

%

50

%

47

%

52

%

49

%

49

%

51

%

51

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

6.56

%

5.88

%

4.99

%

4.60

%

4.32

%

4.07

%

3.61

%

3.35

%

3.40

%

3.28

%

2.88

%

2.82

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

1,275

 

$

1,342

 

$

1,371

 

$

1,473

 

$

1,714

 

$

1,732

 

$

1,824

 

$

1,751

 

$

1,648

 

$

1,667

 

$

1,196

 

$

1,155

 

Citi-Branded Cards

 

2,182

 

2,151

 

2,170

 

2,139

 

2,048

 

1,990

 

2,089

 

2,115

 

2,028

 

1,980

 

2,089

 

2,123

 

Citi Retail Services

 

1,539

 

1,512

 

1,614

 

1,602

 

1,491

 

1,464

 

1,541

 

1,533

 

1,511

 

1,483

 

1,528

 

1,667

 

Total

 

$

4,996

 

$

5,005

 

$

5,155

 

$

5,214

 

$

5,253

 

$

5,186

 

$

5,454

 

$

5,399

 

$

5,187

 

$

5,130

 

$

4,813

 

$

4,945

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

87

 

$

76

 

$

65

 

$

72

 

$

62

 

$

61

 

$

74

 

$

53

 

$

56

 

$

42

 

$

37

 

$

49

 

Citi-Branded Cards

 

1,352

 

1,231

 

1,099

 

986

 

902

 

840

 

745

 

700

 

692

 

665

 

610

 

588

 

Citi Retail Services

 

932

 

826

 

690

 

683

 

665

 

609

 

534

 

514

 

508

 

481

 

435

 

471

 

Total

 

$

2,371

 

$

2,133

 

$

1,854

 

$

1,741

 

$

1,629

 

$

1,510

 

$

1,353

 

$

1,267

 

$

1,256

 

$

1,188

 

$

1,082

 

$

1,108

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

90

 

$

110

 

$

125

 

$

163

 

$

332

 

$

330

 

$

334

 

$

218

 

$

227

 

$

270

 

$

(21

)

$

(2

)

Citi-Branded Cards

 

452

 

570

 

551

 

476

 

584

 

405

 

547

 

453

 

431

 

439

 

548

 

527

 

Citi Retail Services

 

361

 

405

 

394

 

265

 

365

 

418

 

374

 

283

 

430

 

387

 

383

 

357

 

Total

 

$

903

 

$

1,085

 

$

1,070

 

$

904

 

$

1,281

 

$

1,153

 

$

1,255

 

$

954

 

$

1,088

 

$

1,096

 

$

910

 

$

882

 

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 1

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

4,217

 

$

4,242

 

$

4,395

 

$

4,475

 

$

4,336

 

$

4,312

 

$

4,455

 

$

4,506

 

$

17,005

 

$

16,649

 

$

16,803

 

Non-Interest Revenue

 

639

 

614

 

676

 

690

 

724

 

583

 

438

 

364

 

3,365

 

4,643

 

3,272

 

Total Revenues, Net of Interest Expense

 

4,856

 

4,856

 

5,071

 

5,165

 

5,060

 

4,895

 

4,893

 

4,870

 

20,370

 

21,292

 

20,075

 

Total Operating Expenses

 

2,483

 

2,396

 

2,462

 

2,557

 

2,341

 

2,316

 

2,319

 

2,405

 

10,108

 

10,414

 

10,058

 

Net Credit Losses

 

1,101

 

1,072

 

1,017

 

1,012

 

960

 

999

 

878

 

914

 

8,099

 

5,759

 

4,634

 

Credit Reserve Build / (Release)

 

(270

)

(398

)

(340

)

(233

)

(99

)

(108

)

(61

)

(69

)

(4,180

)

(2,390

)

(1,035

)

Provision for Unfunded Lending Commitments

 

2

 

—

 

—

 

(11

)

1

 

—

 

—

 

6

 

1

 

—

 

6

 

Provision for Benefits and Claims

 

7

 

11

 

12

 

11

 

10

 

9

 

11

 

8

 

62

 

69

 

59

 

Provisions for Loan Losses and for Benefits and Claims

 

840

 

685

 

689

 

779

 

872

 

900

 

828

 

859

 

3,982

 

3,438

 

3,664

 

Income from Continuing Operations before Taxes

 

1,533

 

1,775

 

1,920

 

1,829

 

1,847

 

1,679

 

1,746

 

1,606

 

6,280

 

7,440

 

6,353

 

Income Taxes (benefits)

 

498

 

682

 

716

 

673

 

694

 

594

 

666

 

613

 

2,318

 

2,797

 

2,377

 

Income from Continuing Operations

 

1,035

 

1,093

 

1,204

 

1,156

 

1,153

 

1,085

 

1,080

 

993

 

3,962

 

4,643

 

3,976

 

Noncontrolling Interests

 

—

 

—

 

1

 

—

 

1

 

—

 

1

 

1

 

—

 

(1

)

2

 

Net Income

 

$

1,035

 

$

1,093

 

$

1,203

 

$

1,156

 

$

1,152

 

$

1,085

 

$

1,079

 

$

992

 

$

3,962

 

$

4,644

 

$

3,974

 

Average Assets (in billions of dollars)

 

$

210

 

$

210

 

$

213

 

$

213

 

$

208

 

$

207

 

$

209

 

$

210

 

$

196

 

$

203

 

$

204

 

Return on Average Assets

 

2.00

%

2.09

%

2.24

%

2.15

%

2.25

%

2.10

%

2.05

%

1.87

%

2.02

%

2.29

%

1.95

%

Efficiency Ratio

 

51

%

49

%

49

%

50

%

46

%

47

%

47

%

49

%

50

%

49

%

50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

2.86

%

2.78

%

2.58

%

2.54

%

2.50

%

2.58

%

2.21

%

2.26

%

5.49

%

3.83

%

3.09

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

1,210

 

$

1,246

 

$

1,307

 

$

1,433

 

$

1,414

 

$

1,379

 

$

1,347

 

$

1,338

 

$

5,461

 

$

7,021

 

$

5,666

 

Citi-Branded Cards

 

2,021

 

2,029

 

2,118

 

2,122

 

2,009

 

1,933

 

1,930

 

1,937

 

8,642

 

8,242

 

8,220

 

Citi Retail Services

 

1,625

 

1,581

 

1,646

 

1,610

 

1,637

 

1,583

 

1,616

 

1,595

 

6,267

 

6,029

 

6,189

 

Total

 

$

4,856

 

$

4,856

 

$

5,071

 

$

5,165

 

$

5,060

 

$

4,895

 

$

4,893

 

$

4,870

 

$

20,370

 

$

21,292

 

$

20,075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

33

 

$

37

 

$

34

 

$

35

 

$

35

 

$

39

 

$

34

 

$

42

 

$

300

 

$

250

 

$

184

 

Citi-Branded Cards

 

587

 

570

 

526

 

514

 

492

 

503

 

443

 

454

 

4,668

 

3,187

 

2,555

 

Citi Retail Services

 

481

 

465

 

457

 

463

 

433

 

457

 

401

 

418

 

3,131

 

2,322

 

1,895

 

Total

 

$

1,101

 

$

1,072

 

$

1,017

 

$

1,012

 

$

960

 

$

999

 

$

878

 

$

914

 

$

8,099

 

$

5,759

 

$

4,634

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

35

 

$

109

 

$

128

 

$

159

 

$

210

 

$

207

 

$

161

 

$

137

 

$

488

 

$

1,214

 

$

474

 

Citi-Branded Cards

 

564

 

555

 

636

 

636

 

539

 

499

 

522

 

515

 

2,049

 

1,989

 

1,945

 

Citi Retail Services

 

436

 

429

 

440

 

361

 

404

 

379

 

397

 

341

 

1,425

 

1,440

 

1,557

 

Total

 

$

1,035

 

$

1,093

 

$

1,204

 

$

1,156

 

$

1,153

 

$

1,085

 

$

1,080

 

$

993

 

$

3,962

 

$

4,643

 

$

3,976

 

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 1

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Net Interest Revenue

 

$

17,329

 

$

17,609

 

Non-Interest Revenue

 

2,619

 

2,109

 

Total Revenues, Net of Interest Expense

 

19,948

 

19,718

 

Total Operating Expenses

 

9,898

 

9,381

 

Net Credit Losses

 

4,202

 

3,751

 

Credit Reserve Build / (Release)

 

(1,241

)

(337

)

Provision for Unfunded Lending Commitments

 

(9

)

7

 

Provision for Benefits and Claims

 

41

 

38

 

Provisions for Loan Losses and for Benefits and Claims

 

2,993

 

3,459

 

Income from Continuing Operations before Taxes

 

7,057

 

6,878

 

Income Taxes (benefits)

 

2,569

 

2,567

 

Income from Continuing Operations

 

4,488

 

4,311

 

Noncontrolling Interests

 

1

 

3

 

Net Income

 

$

4,487

 

$

4,308

 

Average Assets (in billions of dollars)

 

$

212

 

$

209

 

Return on Average Assets

 

2.12

%

2.06

%

Efficiency Ratio

 

50

%

48

%

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

2.69

%

2.39

%

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

Retail Banking

 

$

5,196

 

$

5,478

 

Citi-Branded Cards

 

8,290

 

7,809

 

Citi Retail Services

 

6,462

 

6,431

 

Total

 

$

19,948

 

$

19,718

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

Retail Banking

 

$

139

 

$

150

 

Citi-Branded Cards

 

2,197

 

1,892

 

Citi Retail Services

 

1,866

 

1,709

 

Total

 

$

4,202

 

$

3,751

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

Retail Banking

 

$

431

 

$

715

 

Citi-Branded Cards

 

2,391

 

2,075

 

Citi Retail Services

 

1,666

 

1,521

 

Total

 

$

4,488

 

$

4,311

 

 

Reclassified to conform to the current period’s presentation.

 

9


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 2

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,000

 

1,002

 

1,005

 

1,016

 

1,020

 

1,015

 

1,017

 

999

 

981

 

983

 

983

 

983

 

Accounts (in millions)

 

13.2

 

13.1

 

13.0

 

12.8

 

12.7

 

12.7

 

12.6

 

12.5

 

12.4

 

12.1

 

12.2

 

12.2

 

Investment Sales

 

$

4.2

 

$

3.8

 

$

3.7

 

$

2.9

 

$

3.8

 

$

4.1

 

$

4.6

 

$

4.6

 

$

5.8

 

$

5.8

 

$

4.9

 

$

5.2

 

Investment AUMs

 

$

39.4

 

$

40.8

 

$

37.7

 

$

39.0

 

$

41.6

 

$

39.4

 

$

40.9

 

$

41.2

 

$

43.1

 

$

42.6

 

$

44.1

 

$

46.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Deposits

 

$

151.1

 

$

152.1

 

$

153.1

 

$

154.9

 

$

157.2

 

$

159.6

 

$

162.5

 

$

168.1

 

$

172.2

 

$

173.8

 

$

175.2

 

$

177.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans

 

$

31.9

 

$

33.7

 

$

35.2

 

$

37.4

 

$

40.5

 

$

41.1

 

$

41.3

 

$

42.2

 

$

43.3

 

$

41.1

 

$

43.0

 

$

44.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

25.8

 

$

27.2

 

$

29.0

 

$

31.4

 

$

32.6

 

$

32.6

 

$

33.0

 

$

33.7

 

$

33.9

 

$

32.2

 

$

33.6

 

$

34.3

 

Commercial Markets

 

6.0

 

6.2

 

6.3

 

6.4

 

6.9

 

7.2

 

7.4

 

7.9

 

8.2

 

8.4

 

8.5

 

8.7

 

Personal and Other

 

1.2

 

1.2

 

1.2

 

1.2

 

1.1

 

1.1

 

1.1

 

1.1

 

1.1

 

1.2

 

1.2

 

1.3

 

Total EOP Loans

 

$

33.0

 

$

34.6

 

$

36.5

 

$

39.0

 

$

40.6

 

$

40.9

 

$

41.5

 

$

42.7

 

$

43.2

 

$

41.8

 

$

43.3

 

$

44.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Originations

 

$

14.1

 

$

11.0

 

$

17.0

 

$

21.4

 

$

14.3

 

$

12.9

 

$

14.5

 

$

16.8

 

$

18.0

 

$

17.2

 

$

14.5

 

$

8.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Party Mortgage Servicing Portfolio (EOP)

 

$

196.0

 

$

196.5

 

$

196.6

 

$

197.9

 

$

196.7

 

$

190.8

 

$

184.9

 

$

177.2

 

$

175.8

 

$

177.9

 

$

180.3

 

$

180.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Servicing & Gain/(Loss) on Sale (in millions)

 

$

129.0

 

$

126.5

 

$

186.5

 

$

295.0

 

$

532.6

 

$

637.0

 

$

684.2

 

$

614.5

 

$

561.6

 

$

588.5

 

$

167.0

 

$

142.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Saleable Mortgage Rate Locks

 

$

9.3

 

$

9.5

 

$

16.5

 

$

16.2

 

$

12.1

 

$

11.5

 

$

15.8

 

$

12.7

 

$

14.3

 

$

13.0

 

$

7.1

 

$

4.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue on Loans (in millions)

 

$

169

 

$

179

 

$

176

 

$

185

 

$

190

 

$

197

 

$

210

 

$

239

 

$

243

 

$

242

 

$

232

 

$

234

 

As a % of Avg. Loans

 

2.15

%

2.13

%

1.98

%

1.96

%

1.89

%

1.93

%

2.02

%

2.25

%

2.28

%

2.36

%

2.14

%

2.11

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (in millions)

 

$

87

 

$

76

 

$

65

 

$

72

 

$

62

 

$

61

 

$

74

 

$

53

 

$

56

 

$

42

 

$

37

 

$

49

 

As a % of Avg. Loans

 

1.11

%

0.90

%

0.73

%

0.76

%

0.62

%

0.60

%

0.71

%

0.50

%

0.52

%

0.41

%

0.34

%

0.44

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans 90+ Days Past Due (in millions) (1)

 

$

241

 

$

211

 

$

232

 

$

235

 

$

260

 

$

294

 

$

291

 

$

280

 

$

282

 

$

285

 

$

277

 

$

257

 

As a % of EOP Loans

 

0.75

%

0.63

%

0.66

%

0.62

%

0.66

%

0.74

%

0.72

%

0.68

%

0.68

%

0.70

%

0.66

%

0.60

%

Loans 30-89 Days Past Due (in millions) (1)

 

$

185

 

$

209

 

$

218

 

$

213

 

$

183

 

$

215

 

$

230

 

$

223

 

$

226

 

$

217

 

$

209

 

$

205

 

As a % of EOP Loans

 

0.58

%

0.62

%

0.62

%

0.56

%

0.47

%

0.54

%

0.57

%

0.54

%

0.54

%

0.54

%

0.50

%

0.48

%

 

(1)                                 The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

 

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) were $562 million and ($1.1 billion), $534 million and ($1.1 billion), $423 million and ($0.8 billion), $498 million and ($0.9 billion), and $491 million and ($1.1 billion) as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) were $122 million and ($1.1 billion), $111 million and ($1.1 billion), $75 million and ($0.8 billion), $79 million and ($0.9 billion), and $87 million and ($1.1 billion) as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 2

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

962

 

912

 

895

 

849

 

788

 

779

 

779

 

780

 

Accounts (in millions)

 

12.3

 

12.1

 

12.1

 

11.8

 

11.5

 

11.3

 

11.2

 

11.0

 

Investment Sales

 

$

5.7

 

$

5.6

 

$

5.5

 

$

6.0

 

$

6.3

 

$

5.9

 

$

4.9

 

$

4.6

 

Investment AUMs

 

$

47.1

 

$

48.9

 

$

48.9

 

$

49.4

 

$

50.6

 

$

50.6

 

$

47.9

 

$

48.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Deposits

 

$

179.3

 

$

179.9

 

$

179.3

 

$

179.4

 

$

180.4

 

$

179.9

 

$

181.4

 

$

181.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans

 

$

45.0

 

$

45.7

 

$

47.3

 

$

48.6

 

$

47.8

 

$

49.3

 

$

50.3

 

$

51.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

35.1

 

$

36.4

 

$

37.6

 

$

36.7

 

$

37.8

 

$

38.9

 

$

40.6

 

$

41.9

 

Commercial Markets

 

8.7

 

8.5

 

8.6

 

8.6

 

8.5

 

8.5

 

8.4

 

7.8

 

Personal and Other

 

1.4

 

1.5

 

1.6

 

1.8

 

1.8

 

1.8

 

2.0

 

2.5

 

Total EOP Loans

 

$

45.2

 

$

46.4

 

$

47.8

 

$

47.1

 

$

48.1

 

$

49.2

 

$

51.0

 

$

52.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Originations

 

$

5.2

 

$

6.2

 

$

7.1

 

$

6.7

 

$

7.0

 

$

8.8

 

$

7.5

 

$

6.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Party Mortgage Servicing Portfolio (EOP)

 

$

178.8

 

$

175.9

 

$

173.0

 

$

171.9

 

$

168.2

 

$

165.0

 

$

162.6

 

$

159.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Servicing & Gain/(Loss) on Sale (in millions)

 

$

127.7

 

$

133.9

 

$

132.4

 

$

255.6

 

$

168.7

 

$

179.4

 

$

107.2

 

$

110.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Saleable Mortgage Rate Locks

 

$

3.6

 

$

4.2

 

$

4.4

 

$

3.8

 

$

4.4

 

$

5.0

 

$

3.9

 

$

3.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue on Loans (in millions)

 

$

244

 

$

261

 

$

271

 

$

294

 

$

262

 

$

266

 

$

262

 

$

271

 

As a % of Avg. Loans

 

2.20

%

2.29

%

2.27

%

2.40

%

2.22

%

2.16

%

2.07

%

2.08

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (in millions)

 

$

33

 

$

37

 

$

34

 

$

35

 

$

35

 

$

39

 

$

34

 

$

42

 

As a % of Avg. Loans

 

0.30

%

0.32

%

0.29

%

0.29

%

0.30

%

0.32

%

0.27

%

0.32

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans 90+ Days Past Due (in millions) (1)

 

$

243

 

$

227

 

$

229

 

$

225

 

$

123

 

$

150

 

$

138

 

$

165

 

As a % of EOP Loans

 

0.55

%

0.50

%

0.49

%

0.49

%

0.26

%

0.31

%

0.28

%

0.32

%

Loans 30-89 Days Past Due (in millions) (1)

 

$

177

 

$

203

 

$

213

 

$

212

 

$

203

 

$

176

 

$

198

 

$

221

 

As a % of EOP Loans

 

0.40

%

0.45

%

0.46

%

0.46

%

0.43

%

0.36

%

0.40

%

0.43

%

 

(1)                                 The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

 

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) were $562 million and ($1.1 billion), $534 million and ($1.1 billion), $423 million and ($0.8 billion), $498 million and ($0.9 billion), and $491 million and ($1.1 billion) as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) were $122 million and ($1.1 billion), $111 million and ($1.1 billion), $75 million and ($0.8 billion), $79 million and ($0.9 billion), and $87 million and ($1.1 billion) as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

Reclassified to conform to the current period’s presentation.

 

10


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 3

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in millions of dollars, except as otherwise noted) (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

21.7

 

21.8

 

22.2

 

22.6

 

22.7

 

22.9

 

23.1

 

23.2

 

23.4

 

23.6

 

23.8

 

23.9

 

24.0

 

Purchase Sales (in billions)

 

$

37.2

 

$

40.8

 

$

40.5

 

$

42.1

 

$

38.2

 

$

40.8

 

$

40.3

 

$

41.6

 

$

38.2

 

$

41.9

 

$

41.7

 

$

43.4

 

$

39.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (1)

 

$

75.1

 

$

73.6

 

$

74.0

 

$

74.4

 

$

73.5

 

$

71.7

 

$

71.5

 

$

71.1

 

$

69.7

 

$

68.4

 

$

68.4

 

$

68.2

 

$

67.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions) (1)

 

$

74.5

 

$

75.0

 

$

75.1

 

$

77.2

 

$

72.7

 

$

72.7

 

$

72.2

 

$

72.9

 

$

69.2

 

$

69.3

 

$

68.8

 

$

70.5

 

$

66.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Yield (2)

 

11.14

%

10.50

%

10.35

%

10.13

%

10.19

%

9.96

%

9.94

%

10.02

%

10.23

%

10.11

%

10.22

%

10.33

%

10.39

%

Net Interest Revenue (3)

 

$

1,807

 

$

1,732

 

$

1,738

 

$

1,708

 

$

1,670

 

$

1,609

 

$

1,664

 

$

1,687

 

$

1,649

 

$

1,645

 

$

1,690

 

$

1,708

 

$

1,649

 

As a % of Avg. Loans (3)

 

9.76

%

9.44

%

9.32

%

9.11

%

9.14

%

9.03

%

9.26

%

9.44

%

9.59

%

9.65

%

9.80

%

9.94

%

9.91

%

Net Credit Losses

 

$

1,352

 

$

1,231

 

$

1,099

 

$

986

 

$

902

 

$

840

 

$

745

 

$

700

 

$

692

 

$

665

 

$

610

 

$

588

 

$

587

 

As a % of Average Loans

 

7.30

%

6.71

%

5.89

%

5.26

%

4.94

%

4.71

%

4.15

%

3.92

%

4.03

%

3.90

%

3.54

%

3.42

%

3.53

%

Net Credit Margin (4)

 

$

824

 

$

916

 

$

1,064

 

$

1,148

 

$

1,142

 

$

1,144

 

$

1,337

 

$

1,407

 

$

1,331

 

$

1,312

 

$

1,472

 

$

1,529

 

$

1,429

 

As a % of Avg. Loans (4)

 

4.45

%

4.99

%

5.70

%

6.12

%

6.25

%

6.42

%

7.44

%

7.87

%

7.74

%

7.69

%

8.54

%

8.89

%

8.59

%

Loans 90+ Days Past Due

 

$

1,435

 

$

1,214

 

$

1,063

 

$

1,016

 

$

982

 

$

830

 

$

760

 

$

786

 

$

732

 

$

663

 

$

628

 

$

681

 

$

648

 

As a % of EOP Loans

 

1.93

%

1.62

%

1.42

%

1.32

%

1.35

%

1.14

%

1.05

%

1.08

%

1.06

%

0.96

%

0.91

%

0.97

%

0.97

%

Loans 30-89 Days Past Due

 

$

1,335

 

$

1,142

 

$

1,106

 

$

1,078

 

$

887

 

$

744

 

$

744

 

$

771

 

$

679

 

$

588

 

$

650

 

$

661

 

$

599

 

As a % of EOP Loans

 

1.79

%

1.52

%

1.47

%

1.40

%

1.22

%

1.02

%

1.03

%

1.06

%

0.98

%

0.85

%

0.94

%

0.94

%

0.90

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Retail Services Key Indicators (in millions of dollars, except as otherwise noted) (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts

 

87.4

 

86.6

 

85.4

 

85.3

 

82.7

 

81.6

 

81.0

 

80.6

 

79.4

 

77.7

 

91.2

 

91.6

 

89.7

 

Purchase Sales (in billions)

 

$

15.2

 

$

18.5

 

$

17.7

 

$

20.5

 

$

15.5

 

$

18.1

 

$

17.5

 

$

20.4

 

$

15.3

 

$

18.3

 

$

18.1

 

$

23.3

 

$

16.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (1)

 

$

39.6

 

$

38.1

 

$

38.1

 

$

38.3

 

$

37.6

 

$

36.5

 

$

36.5

 

$

37.0

 

$

36.7

 

$

35.8

 

$

37.8

 

$

43.6

 

$

43.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions) (1)

 

$

37.4

 

$

38.3

 

$

37.9

 

$

39.9

 

$

36.7

 

$

36.6

 

$

36.6

 

$

38.6

 

$

35.4

 

$

36.0

 

$

43.0

 

$

46.3

 

$

42.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Yield (2)

 

18.17

%

18.23

%

18.38

%

18.02

%

18.19

%

18.14

%

18.26

%

18.04

%

18.28

%

17.89

%

17.33

%

16.34

%

16.63

%

Net Interest Revenue (3)

 

$

1,531

 

$

1,551

 

$

1,637

 

$

1,625

 

$

1,566

 

$

1,543

 

$

1,634

 

$

1,660

 

$

1,652

 

$

1,587

 

$

1,682

 

$

1,860

 

$

1,819

 

As a % of Avg. Loans (3)

 

15.68

%

16.33

%

17.05

%

16.83

%

16.75

%

17.00

%

17.81

%

17.85

%

18.26

%

17.78

%

17.65

%

16.93

%

16.92

%

Net Credit Losses

 

$

932

 

$

826

 

$

690

 

$

683

 

$

665

 

$

609

 

$

534

 

$

514

 

$

508

 

$

481

 

$

435

 

$

471

 

$

481

 

As a % of Average Loans

 

9.54

%

8.70

%

7.19

%

7.08

%

7.11

%

6.71

%

5.82

%

5.53

%

5.61

%

5.39

%

4.57

%

4.29

%

4.47

%

Net Credit Margin (4)

 

$

595

 

$

676

 

$

913

 

$

910

 

$

816

 

$

842

 

$

997

 

$

1,009

 

$

994

 

$

993

 

$

1,082

 

$

1,185

 

$

1,141

 

As a % of Avg. Loans (4)

 

6.09

%

7.12

%

9.51

%

9.43

%

8.73

%

9.28

%

10.87

%

10.85

%

10.98

%

11.13

%

11.36

%

10.78

%

10.61

%

Loans 90+ Days Past Due

 

$

1,110

 

$

913

 

$

902

 

$

951

 

$

845

 

$

721

 

$

716

 

$

721

 

$

651

 

$

556

 

$

650

 

$

771

 

$

689

 

As a % of EOP Loans

 

2.97

%

2.38

%

2.38

%

2.38

%

2.30

%

1.97

%

1.96

%

1.87

%

1.84

%

1.54

%

1.51

%

1.67

%

1.63

%

Loans 30-89 Days Past Due

 

$

1,277

 

$

1,171

 

$

1,205

 

$

1,178

 

$

995

 

$

852

 

$

823

 

$

789

 

$

685

 

$

615

 

$

798

 

$

830

 

$

725

 

As a % of EOP Loans

 

3.41

%

3.06

%

3.18

%

2.95

%

2.71

%

2.33

%

2.25

%

2.04

%

1.94

%

1.71

%

1.86

%

1.79

%

1.71

%

 

(1)                                 Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)                                 Average yield is calculated as gross interest revenue earned divided by average loans.

(3)                                 Net interest revenue includes certain fees that are recorded as interest revenue.

(4)                                 Net credit margin represents total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 3

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in millions of dollars, except as otherwise noted) (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

24.1

 

23.5

 

23.6

 

23.7

 

23.2

 

23.3

 

23.5

 

Purchase Sales (in billions)

 

$

43.9

 

$

43.3

 

$

45.1

 

$

40.9

 

$

46.1

 

$

46.6

 

$

49.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (1)

 

$

66.4

 

$

66.1

 

$

65.7

 

$

64.1

 

$

63.2

 

$

63.9

 

$

64.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions) (1)

 

$

67.3

 

$

66.5

 

$

67.5

 

$

63.5

 

$

64.5

 

$

64.8

 

$

67.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Yield (2)

 

10.31

%

10.38

%

10.35

%

10.48

%

10.39

%

10.28

%

10.31

%

Net Interest Revenue (3)

 

$

1,635

 

$

1,681

 

$

1,679

 

$

1,607

 

$

1,582

 

$

1,618

 

$

1,633

 

As a % of Avg. Loans (3)

 

9.88

%

10.09

%

10.14

%

10.17

%

10.04

%

10.05

%

10.03

%

Net Credit Losses

 

$

570

 

$

526

 

$

514

 

$

492

 

$

503

 

$

443

 

$

454

 

As a % of Average Loans

 

3.44

%

3.16

%

3.10

%

3.11

%

3.19

%

2.75

%

2.79

%

Net Credit Margin (4)

 

$

1,454

 

$

1,588

 

$

1,605

 

$

1,513

 

$

1,426

 

$

1,482

 

$

1,481

 

As a % of Avg. Loans (4)

 

8.78

%

9.53

%

9.69

%

9.57

%

9.05

%

9.20

%

9.10

%

Loans 90+ Days Past Due

 

$

583

 

$

559

 

$

593

 

$

569

 

$

495

 

$

491

 

$

538

 

As a % of EOP Loans

 

0.87

%

0.84

%

0.88

%

0.90

%

0.77

%

0.76

%

0.80

%

Loans 30-89 Days Past Due

 

$

540

 

$

566

 

$

568

 

$

497

 

$

462

 

$

504

 

$

523

 

As a % of EOP Loans

 

0.80

%

0.85

%

0.84

%

0.78

%

0.72

%

0.78

%

0.78

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Retail Services Key Indicators (in millions of dollars, except as otherwise noted) (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts

 

90.3

 

88.6

 

89.5

 

88.7

 

89.5

 

89.5

 

89.9

 

Purchase Sales (in billions)

 

$

20.4

 

$

19.7

 

$

23.5

 

$

16.5

 

$

20.2

 

$

19.8

 

$

23.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions) (1)

 

$

42.4

 

$

42.9

 

$

43.9

 

$

43.9

 

$

42.6

 

$

43.1

 

$

44.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions) (1)

 

$

43.1

 

$

43.0

 

$

46.5

 

$

42.4

 

$

43.2

 

$

43.1

 

$

46.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Yield (2)

 

16.89

%

16.89

%

16.80

%

16.96

%

17.00

%

16.94

%

16.49

%

Net Interest Revenue (3)

 

$

1,810

 

$

1,884

 

$

1,923

 

$

1,885

 

$

1,843

 

$

1,925

 

$

1,939

 

As a % of Avg. Loans (3)

 

17.12

%

17.42

%

17.38

%

17.41

%

17.35

%

17.72

%

17.44

%

Net Credit Losses

 

$

465

 

$

457

 

$

463

 

$

433

 

$

457

 

$

401

 

$

418

 

As a % of Average Loans

 

4.40

%

4.23

%

4.18

%

4.00

%

4.30

%

3.69

%

3.76

%

Net Credit Margin (4)

 

$

1,111

 

$

1,181

 

$

1,139

 

$

1,198

 

$

1,120

 

$

1,209

 

$

1,170

 

As a % of Avg. Loans (4)

 

10.51

%

10.92

%

10.29

%

11.07

%

10.55

%

11.13

%

10.53

%

Loans 90+ Days Past Due

 

$

606

 

$

630

 

$

678

 

$

629

 

$

567

 

$

621

 

$

705

 

As a % of EOP Loans

 

1.41

%

1.47

%

1.46

%

1.48

%

1.31

%

1.44

%

1.53

%

Loans 30-89 Days Past Due

 

$

683

 

$

729

 

$

748

 

$

673

 

$

652

 

$

758

 

$

773

 

As a % of EOP Loans

 

1.58

%

1.70

%

1.61

%

1.59

%

1.51

%

1.76

%

1.68

%

 

(1)                                 Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)                                 Average yield is calculated as gross interest revenue earned divided by average loans.

(3)                                 Net interest revenue includes certain fees that are recorded as interest revenue.

(4)                                 Net credit margin represents total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.

 

11


 

CITICORP

GLOBAL CONSUMER BANKING

LATIN AMERICA - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

926

 

$

940

 

$

963

 

$

941

 

$

981

 

$

983

 

$

1,021

 

$

1,068

 

$

1,056

 

$

1,090

 

$

1,110

 

$

1,133

 

$

1,085

 

Non-Interest Revenue

 

462

 

490

 

448

 

449

 

470

 

412

 

459

 

495

 

533

 

527

 

476

 

556

 

491

 

Total Revenues, Net of Interest Expense

 

1,388

 

1,430

 

1,411

 

1,390

 

1,451

 

1,395

 

1,480

 

1,563

 

1,589

 

1,617

 

1,586

 

1,689

 

1,576

 

Total Operating Expenses

 

740

 

822

 

821

 

722

 

740

 

743

 

801

 

881

 

817

 

869

 

850

 

872

 

863

 

Net Credit Losses

 

230

 

210

 

199

 

193

 

212

 

195

 

227

 

276

 

289

 

299

 

295

 

319

 

346

 

Credit Reserve Build / (Release)

 

(116

)

(50

)

29

 

25

 

59

 

74

 

27

 

11

 

19

 

86

 

161

 

54

 

45

 

Provision for Unfunded Lending Commitments

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(1

)

—

 

—

 

Provision for Benefits and Claims

 

38

 

22

 

38

 

32

 

34

 

21

 

36

 

35

 

39

 

22

 

21

 

24

 

34

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

152

 

182

 

266

 

250

 

305

 

290

 

290

 

322

 

347

 

407

 

476

 

397

 

425

 

Income from Continuing Operations before Taxes

 

496

 

426

 

324

 

418

 

406

 

362

 

389

 

360

 

425

 

341

 

260

 

420

 

288

 

Income Taxes

 

126

 

97

 

56

 

85

 

101

 

80

 

93

 

(25

)

106

 

71

 

49

 

105

 

59

 

Income from Continuing Operations

 

370

 

329

 

268

 

333

 

305

 

282

 

296

 

385

 

319

 

270

 

211

 

315

 

229

 

Noncontrolling Interests

 

(2

)

1

 

—

 

1

 

—

 

(3

)

1

 

—

 

1

 

—

 

1

 

1

 

2

 

Net Income

 

$

372

 

$

328

 

$

268

 

$

332

 

$

305

 

$

285

 

$

295

 

$

385

 

$

318

 

$

270

 

$

210

 

$

314

 

$

227

 

Average Assets (in billions of dollars)

 

$

59

 

$

64

 

$

61

 

$

59

 

$

61

 

$

59

 

$

61

 

$

63

 

$

67

 

$

64

 

$

63

 

$

64

 

$

64

 

Return on Average Assets (1)

 

2.56

%

2.06

%

1.74

%

2.23

%

2.01

%

1.94

%

1.92

%

2.43

%

1.92

%

1.69

%

1.32

%

1.95

%

1.44

%

Efficiency Ratio

 

53

%

57

%

58

%

52

%

51

%

53

%

54

%

56

%

51

%

54

%

54

%

52

%

55

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans (1)

 

4.34

%

3.63

%

3.49

%

3.39

%

3.37

%

3.18

%

3.42

%

3.96

%

3.99

%

4.00

%

3.95

%

4.15

%

4.62

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

968

 

$

993

 

$

989

 

$

966

 

$

1,020

 

$

975

 

$

1,038

 

$

1,070

 

$

1,105

 

$

1,106

 

$

1,068

 

$

1,136

 

$

1,068

 

Citi-Branded Cards

 

420

 

437

 

422

 

424

 

431

 

420

 

442

 

493

 

484

 

511

 

518

 

553

 

508

 

Total

 

$

1,388

 

$

1,430

 

$

1,411

 

$

1,390

 

$

1,451

 

$

1,395

 

$

1,480

 

$

1,563

 

$

1,589

 

$

1,617

 

$

1,586

 

$

1,689

 

$

1,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

71

 

$

72

 

$

75

 

$

80

 

$

94

 

$

82

 

$

100

 

$

139

 

$

137

 

$

144

 

$

140

 

$

151

 

$

155

 

Citi-Branded Cards

 

159

 

138

 

124

 

113

 

118

 

113

 

127

 

137

 

152

 

155

 

155

 

168

 

191

 

Total

 

$

230

 

$

210

 

$

199

 

$

193

 

$

212

 

$

195

 

$

227

 

$

276

 

$

289

 

$

299

 

$

295

 

$

319

 

$

346

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

243

 

$

205

 

$

168

 

$

228

 

$

207

 

$

195

 

$

210

 

$

256

 

$

225

 

$

165

 

$

112

 

$

204

 

$

155

 

Citi-Branded Cards

 

127

 

124

 

100

 

105

 

98

 

87

 

86

 

129

 

94

 

105

 

99

 

111

 

74

 

Total

 

$

370

 

$

329

 

$

268

 

$

333

 

$

305

 

$

282

 

$

296

 

$

385

 

$

319

 

$

270

 

$

211

 

$

315

 

$

229

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

1,388

 

$

1,430

 

$

1,411

 

$

1,390

 

$

1,451

 

$

1,395

 

$

1,480

 

$

1,563

 

$

1,589

 

$

1,617

 

$

1,586

 

$

1,689

 

$

1,576

 

Impact of FX Translation (1)

 

(337

)

(381

)

(307

)

(258

)

(323

)

(264

)

(315

)

(346

)

(388

)

(386

)

(341

)

(365

)

(329

)

Total Revenues - Ex-FX (2)

 

$

1,051

 

$

1,049

 

$

1,104

 

$

1,132

 

$

1,128

 

$

1,131

 

$

1,165

 

$

1,217

 

$

1,201

 

$

1,231

 

$

1,245

 

$

1,324

 

$

1,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

740

 

$

822

 

$

821

 

$

722

 

$

740

 

$

743

 

$

801

 

$

881

 

$

817

 

$

869

 

$

850

 

$

872

 

$

863

 

Impact of FX Translation (1)

 

(184

)

(225

)

(185

)

(121

)

(151

)

(126

)

(153

)

(174

)

(176

)

(190

)

(144

)

(165

)

(163

)

Total Operating Expenses - Ex-FX (2)

 

$

556

 

$

597

 

$

636

 

$

601

 

$

589

 

$

617

 

$

648

 

$

707

 

$

641

 

$

679

 

$

706

 

$

707

 

$

700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

152

 

$

182

 

$

266

 

$

250

 

$

305

 

$

290

 

$

290

 

$

322

 

$

347

 

$

407

 

$

476

 

$

397

 

$

425

 

Impact of FX Translation (1)

 

(43

)

(55

)

(66

)

(48

)

(71

)

(55

)

(63

)

(73

)

(86

)

(100

)

(104

)

(89

)

(90

)

Provisions for LLR & PBC - Ex-FX (2)

 

$

109

 

$

127

 

$

200

 

$

202

 

$

234

 

$

235

 

$

227

 

$

249

 

$

261

 

$

307

 

$

372

 

$

308

 

$

335

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

372

 

$

328

 

$

268

 

$

332

 

$

305

 

$

285

 

$

295

 

$

385

 

$

318

 

$

270

 

$

210

 

$

314

 

$

227

 

Impact of FX Translation (1)

 

(77

)

(74

)

(45

)

(54

)

(72

)

(63

)

(71

)

(98

)

(90

)

(71

)

(68

)

(78

)

(56

)

Net Income - Ex-FX (2)

 

$

295

 

$

254

 

$

223

 

$

278

 

$

233

 

$

222

 

$

224

 

$

287

 

$

228

 

$

199

 

$

142

 

$

236

 

$

171

 

 

(1)           Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(2)           Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

LATIN AMERICA - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

1,132

 

$

1,183

 

$

1,137

 

$

990

 

$

991

 

$

959

 

$

945

 

$

3,770

 

$

4,053

 

$

4,389

 

Non-Interest Revenue

 

506

 

516

 

507

 

442

 

441

 

586

 

416

 

1,849

 

1,836

 

2,092

 

Total Revenues, Net of Interest Expense

 

1,638

 

1,699

 

1,644

 

1,432

 

1,432

 

1,545

 

1,361

 

5,619

 

5,889

 

6,481

 

Total Operating Expenses

 

914

 

901

 

905

 

797

 

846

 

795

 

824

 

3,105

 

3,165

 

3,408

 

Net Credit Losses

 

366

 

380

 

423

 

356

 

316

 

301

 

307

 

832

 

910

 

1,202

 

Credit Reserve Build / (Release)

 

106

 

9

 

(32

)

(8

)

19

 

19

 

3

 

(112

)

171

 

320

 

Provision for Unfunded Lending Commitments

 

1

 

(1

)

—

 

(3

)

—

 

1

 

—

 

—

 

—

 

(1

)

Provision for Benefits and Claims

 

15

 

26

 

29

 

18

 

12

 

17

 

22

 

130

 

126

 

106

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

488

 

414

 

420

 

363

 

347

 

338

 

332

 

850

 

1,207

 

1,627

 

Income from Continuing Operations before Taxes

 

236

 

384

 

319

 

272

 

239

 

412

 

205

 

1,664

 

1,517

 

1,446

 

Income Taxes

 

20

 

88

 

67

 

52

 

49

 

106

 

53

 

364

 

249

 

331

 

Income from Continuing Operations

 

216

 

296

 

252

 

220

 

190

 

306

 

152

 

1,300

 

1,268

 

1,115

 

Noncontrolling Interests

 

2

 

2

 

—

 

—

 

2

 

1

 

—

 

—

 

(2

)

3

 

Net Income

 

$

214

 

$

294

 

$

252

 

$

220

 

$

188

 

$

305

 

$

152

 

$

1,300

 

$

1,270

 

$

1,112

 

Average Assets (in billions of dollars)

 

$

64

 

$

63

 

$

61

 

$

57

 

$

55

 

$

50

 

$

52

 

$

61

 

$

61

 

$

65

 

Return on Average Assets (1)

 

1.34

%

1.85

%

1.64

%

1.57

%

1.37

%

2.42

%

1.16

%

2.13

%

2.08

%

1.71

%

Efficiency Ratio

 

56

%

53

%

55

%

56

%

59

%

51

%

61

%

55

%

54

%

53

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans (1)

 

4.71

%

4.93

%

5.69

%

5.25

%

4.66

%

4.65

%

4.70

%

3.70

%

3.50

%

4.02

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

1,098

 

$

1,128

 

$

1,082

 

$

972

 

$

975

 

$

1,100

 

$

934

 

$

3,916

 

$

4,103

 

$

4,415

 

Citi-Branded Cards

 

540

 

571

 

562

 

460

 

457

 

445

 

427

 

1,703

 

1,786

 

2,066

 

Total

 

$

1,638

 

$

1,699

 

$

1,644

 

$

1,432

 

$

1,432

 

$

1,545

 

$

1,361

 

$

5,619

 

$

5,889

 

$

6,481

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

160

 

$

164

 

$

220

 

$

150

 

$

142

 

$

138

 

$

159

 

$

298

 

$

415

 

$

572

 

Citi-Branded Cards

 

206

 

216

 

203

 

206

 

174

 

163

 

148

 

534

 

495

 

630

 

Total

 

$

366

 

$

380

 

$

423

 

$

356

 

$

316

 

$

301

 

$

307

 

$

832

 

$

910

 

$

1,202

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

170

 

$

184

 

$

138

 

$

148

 

$

121

 

$

228

 

$

65

 

$

844

 

$

868

 

$

706

 

Citi-Branded Cards

 

46

 

112

 

114

 

72

 

69

 

78

 

87

 

456

 

400

 

409

 

Total

 

$

216

 

$

296

 

$

252

 

$

220

 

$

190

 

$

306

 

$

152

 

$

1,300

 

$

1,268

 

$

1,115

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

1,638

 

$

1,699

 

$

1,644

 

$

1,432

 

$

1,432

 

$

1,545

 

$

1,361

 

$

5,619

 

$

5,889

 

$

6,481

 

Impact of FX Translation (1)

 

(365

)

(346

)

(266

)

(143

)

(130

)

(19

)

—

 

(1,109

)

(1,015

)

(1,229

)

Total Revenues - Ex-FX (2)

 

$

1,273

 

$

1,353

 

$

1,378

 

$

1,289

 

$

1,302

 

$

1,526

 

$

1,361

 

$

4,510

 

$

4,874

 

$

5,252

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

914

 

$

901

 

$

905

 

$

797

 

$

846

 

$

795

 

$

824

 

$

3,105

 

$

3,165

 

$

3,408

 

Impact of FX Translation (1)

 

(182

)

(169

)

(132

)

(69

)

(57

)

(9

)

—

 

(610

)

(491

)

(559

)

Total Operating Expenses - Ex-FX (2)

 

$

732

 

$

732

 

$

773

 

$

728

 

$

789

 

$

786

 

$

824

 

$

2,495

 

$

2,674

 

$

2,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

488

 

$

414

 

$

420

 

$

363

 

$

347

 

$

338

 

$

332

 

$

850

 

$

1,207

 

$

1,627

 

Impact of FX Translation (1)

 

(111

)

(87

)

(69

)

(37

)

(27

)

(4

)

—

 

(187

)

(213

)

(316

)

Provisions for LLR & PBC - Ex-FX (2)

 

$

377

 

$

327

 

$

351

 

$

326

 

$

320

 

$

334

 

$

332

 

$

663

 

$

994

 

$

1,311

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

214

 

$

294

 

$

252

 

$

220

 

$

188

 

$

305

 

$

152

 

$

1,300

 

$

1,270

 

$

1,112

 

Impact of FX Translation (1)

 

(59

)

(65

)

(48

)

(28

)

(32

)

(5

)

—

 

(216

)

(248

)

(256

)

Net Income - Ex-FX (2)

 

$

155

 

$

229

 

$

204

 

$

192

 

$

156

 

$

300

 

$

152

 

$

1,084

 

$

1,022

 

$

856

 

 

(1)           Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(2)           Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 


 

CITICORP

GLOBAL CONSUMER BANKING

LATIN AMERICA - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Net Interest Revenue

 

$

4,537

 

$

3,885

 

Non-Interest Revenue

 

2,020

 

1,885

 

Total Revenues, Net of Interest Expense

 

6,557

 

5,770

 

Total Operating Expenses

 

3,583

 

3,262

 

Net Credit Losses

 

1,515

 

1,280

 

Credit Reserve Build / (Release)

 

128

 

33

 

Provision for Unfunded Lending Commitments

 

—

 

(2

)

Provision for Benefits and Claims

 

104

 

69

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

1,747

 

1,380

 

Income from Continuing Operations before Taxes

 

1,227

 

1,128

 

Income Taxes

 

234

 

260

 

Income from Continuing Operations

 

993

 

868

 

Noncontrolling Interests

 

6

 

3

 

Net Income

 

$

987

 

$

865

 

Average Assets (in billions of dollars)

 

$

63

 

$

54

 

Return on Average Assets (1)

 

1.57

%

1.60

%

Efficiency Ratio

 

55

%

57

%

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans (1)

 

4.97

%

4.81

%

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

Retail Banking

 

$

4,376

 

$

3,981

 

Citi-Branded Cards

 

2,181

 

1,789

 

Total

 

$

6,557

 

$

5,770

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

Retail Banking

 

$

699

 

$

589

 

Citi-Branded Cards

 

816

 

691

 

Total

 

$

1,515

 

$

1,280

 

 

 

 

 

 

 

Income (loss) from Continuing Operations by Business

 

 

 

 

 

Retail Banking

 

$

647

 

$

562

 

Citi-Branded Cards

 

346

 

306

 

Total

 

$

993

 

$

868

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

 

Total Revenue - as Reported

 

$

6,557

 

$

5,770

 

Impact of FX Translation (1)

 

(1,044

)

—

 

Total Revenues - Ex-FX (2)

 

$

5,513

 

$

5,770

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

3,583

 

$

3,262

 

Impact of FX Translation (1)

 

(516

)

—

 

Total Operating Expenses - Ex-FX (2)

 

$

3,067

 

$

3,262

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

1,747

 

$

1,380

 

Impact of FX Translation (1)

 

(284

)

—

 

Provisions for LLR & PBC - Ex-FX (2)

 

$

1,463

 

$

1,380

 

 

 

 

 

 

 

Net Income - as Reported

 

$

987

 

$

865

 

Impact of FX Translation (1)

 

(183

)

—

 

Net Income - Ex-FX (2)

 

$

804

 

$

865

 

 

(1)           Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(2)           Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

12


 

CITICORP

GLOBAL CONSUMER BANKING

LATIN AMERICA - PAGE 2

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,708

 

1,714

 

1,716

 

1,720

 

1,715

 

1,717

 

1,717

 

1,714

 

1,687

 

1,686

 

1,678

 

1,686

 

1,618

 

Accounts (in millions)

 

22.4

 

23.0

 

23.2

 

23.7

 

25.2

 

26.2

 

26.4

 

26.2

 

26.3

 

26.7

 

26.5

 

26.8

 

26.4

 

Average Deposits

 

$

28.6

 

$

30.4

 

$

28.4

 

$

27.7

 

$

28.6

 

$

26.9

 

$

28.0

 

$

28.9

 

$

29.4

 

$

28.7

 

$

28.5

 

$

30.4

 

$

30.3

 

Investment Sales

 

$

6.4

 

$

6.4

 

$

5.5

 

$

5.6

 

$

7.0

 

$

6.3

 

$

7.4

 

$

7.0

 

$

7.8

 

$

8.5

 

$

8.1

 

$

7.6

 

$

8.8

 

Investment AUMs

 

$

35.9

 

$

37.7

 

$

32.7

 

$

33.6

 

$

37.2

 

$

37.4

 

$

43.1

 

$

42.9

 

$

48.1

 

$

45.5

 

$

45.5

 

$

48.9

 

$

48.1

 

Average Loans

 

$

15.9

 

$

17.4

 

$

17.0

 

$

17.1

 

$

19.4

 

$

19.0

 

$

20.3

 

$

21.3

 

$

22.6

 

$

23.0

 

$

22.6

 

$

23.1

 

$

23.2

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

4.4

 

$

4.5

 

$

4.0

 

$

4.2

 

$

4.8

 

$

4.7

 

$

5.0

 

$

5.1

 

$

5.6

 

$

5.5

 

$

5.2

 

$

5.5

 

$

5.6

 

Commercial Markets

 

7.8

 

9.1

 

8.3

 

8.1

 

8.5

 

8.4

 

8.9

 

9.5

 

10.1

 

9.8

 

9.4

 

10.3

 

10.0

 

Personal and Other

 

4.4

 

4.0

 

3.8

 

5.6

 

6.5

 

6.5

 

7.1

 

7.1

 

7.7

 

7.5

 

7.6

 

7.7

 

7.9

 

Total EOP Loans

 

$

16.6

 

$

17.6

 

$

16.1

 

$

17.9

 

$

19.8

 

$

19.6

 

$

21.0

 

$

21.7

 

$

23.4

 

$

22.8

 

$

22.2

 

$

23.5

 

$

23.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (1)

 

$

632

 

$

623

 

$

651

 

$

643

 

$

683

 

$

674

 

$

701

 

$

729

 

$

729

 

$

720

 

$

723

 

$

729

 

$

706

 

As a % of Average Loans (1)

 

16.12

%

14.36

%

15.19

%

14.92

%

14.16

%

14.27

%

13.74

%

13.62

%

13.08

%

12.56

%

12.69

%

12.52

%

12.34

%

Net Credit Losses (in millions)

 

$

71

 

$

72

 

$

75

 

$

80

 

$

94

 

$

82

 

$

100

 

$

139

 

$

137

 

$

144

 

$

140

 

$

151

 

$

155

 

As a % of Average Loans

 

1.81

%

1.66

%

1.75

%

1.86

%

1.95

%

1.74

%

1.96

%

2.60

%

2.46

%

2.51

%

2.46

%

2.59

%

2.71

%

Loans 90+ Days Past Due (in millions) (2)

 

$

163

 

$

177

 

$

188

 

$

186

 

$

209

 

$

211

 

$

236

 

$

237

 

$

235

 

$

226

 

$

262

 

$

394

 

$

452

 

As a % of EOP Loans (2)

 

0.98

%

1.01

%

1.17

%

1.04

%

1.06

%

1.08

%

1.12

%

1.09

%

1.00

%

0.99

%

1.18

%

1.68

%

1.92

%

Loans 30-89 Days Past Due (in millions)

 

$

205

 

$

186

 

$

175

 

$

191

 

$

227

 

$

215

 

$

293

 

$

236

 

$

303

 

$

250

 

$

338

 

$

294

 

$

258

 

As a % of EOP Loans

 

1.23

%

1.06

%

1.09

%

1.07

%

1.15

%

1.10

%

1.40

%

1.09

%

1.29

%

1.10

%

1.52

%

1.25

%

1.10

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

4.9

 

5.0

 

5.3

 

5.4

 

5.7

 

5.7

 

5.9

 

6.0

 

6.1

 

6.2

 

6.3

 

6.2

 

6.2

 

Purchase Sales (in billions)

 

$

3.5

 

$

3.7

 

$

3.9

 

$

4.2

 

$

3.9

 

$

3.9

 

$

4.3

 

$

5.0

 

$

4.5

 

$

4.9

 

$

5.0

 

$

5.5

 

$

4.5

 

Average Loans (in billions) (3)

 

$

5.6

 

$

5.8

 

$

5.6

 

$

5.5

 

$

5.9

 

$

5.7

 

$

6.1

 

$

6.4

 

$

6.8

 

$

7.0

 

$

7.0

 

$

7.4

 

$

7.2

 

EOP Loans (in billions) (3)

 

$

5.6

 

$

5.8

 

$

5.2

 

$

5.5

 

$

6.0

 

$

5.9

 

$

6.3

 

$

6.6

 

$

7.1

 

$

7.0

 

$

7.1

 

$

7.4

 

$

7.2

 

Average Yield (4)

 

20.43

%

21.46

%

21.65

%

23.41

%

22.58

%

22.72

%

22.33

%

21.68

%

20.42

%

20.80

%

21.49

%

20.94

%

20.69

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (5)

 

$

294

 

317

 

$

312

 

$

298

 

$

298

 

$

309

 

$

320

 

$

339

 

$

327

 

$

370

 

$

387

 

$

404

 

$

379

 

As a % of Average Loans (5)

 

21.29

%

21.92

%

22.10

%

21.50

%

20.31

%

21.80

%

20.87

%

21.07

%

19.50

%

21.20

%

21.93

%

21.66

%

21.35

%

Net Credit Losses (in millions)

 

$

159

 

$

138

 

$

124

 

$

113

 

$

118

 

$

113

 

$

127

 

$

137

 

$

152

 

$

155

 

$

155

 

$

168

 

$

191

 

As a % of Average Loans

 

11.51

%

9.54

%

8.78

%

8.15

%

8.04

%

7.97

%

8.28

%

8.52

%

9.07

%

8.88

%

8.78

%

9.01

%

10.76

%

Net Credit Margin (in millions) (6)

 

$

261

 

$

299

 

$

298

 

$

311

 

$

313

 

$

307

 

$

315

 

$

356

 

$

332

 

$

356

 

$

363

 

$

385

 

$

317

 

As a % of Average Loans (6)

 

18.90

%

20.68

%

21.11

%

22.43

%

21.34

%

21.66

%

20.54

%

22.13

%

19.80

%

20.40

%

20.57

%

20.64

%

17.86

%

Loans 90+ Days Past Due (in millions)

 

$

169

 

$

169

 

$

144

 

$

143

 

$

148

 

$

154

 

$

168

 

$

179

 

$

191

 

$

194

 

$

200

 

$

223

 

$

232

 

As a % of EOP Loans

 

3.02

%

2.91

%

2.77

%

2.60

%

2.47

%

2.61

%

2.67

%

2.71

%

2.69

%

2.77

%

2.82

%

3.01

%

3.22

%

Loans 30-89 Days Past Due (in millions)

 

$

154

 

$

158

 

$

135

 

$

129

 

$

135

 

$

151

 

$

165

 

$

179

 

$

188

 

$

194

 

$

211

 

$

237

 

$

252

 

As a % of EOP Loans

 

2.75

%

2.72

%

2.60

%

2.35

%

2.25

%

2.56

%

2.62

%

2.71

%

2.65

%

2.77

%

2.97

%

3.20

%

3.50

%

 

(1)                Also includes net interest revenue related to the region’s deposit balances in excess of the average loan portfolio.

(2)                See footnote 3 on page 8.

(3)                Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)                Average yield is gross interest revenue earned divided by average loans.

(5)                Net interest revenue includes certain fees that are recorded as interest revenue.

(6)                Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 


 

CITICORP

GLOBAL CONSUMER BANKING

LATIN AMERICA - PAGE 2

 

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,626

 

1,634

 

1,542

 

1,498

 

1,497

 

1,495

 

1,492

 

Accounts (in millions)

 

26.9

 

26.4

 

26.2

 

26.2

 

26.5

 

27.3

 

27.7

 

Average Deposits

 

$

31.3

 

$

31.3

 

$

30.8

 

$

29.3

 

$

28.7

 

$

27.1

 

$

27.3

 

Investment Sales

 

$

9.8

 

$

11.7

 

$

8.7

 

$

8.2

 

$

6.6

 

$

6.6

 

$

6.7

 

Investment AUMs

 

$

51.3

 

$

50.7

 

$

45.7

 

$

43.8

 

$

43.3

 

$

41.4

 

$

46.7

 

Average Loans

 

$

23.8

 

$

23.3

 

$

22.4

 

$

21.1

 

$

21.1

 

$

20.1

 

$

20.4

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

5.6

 

$

5.3

 

$

4.7

 

$

4.7

 

$

4.5

 

$

4.1

 

$

3.9

 

Commercial Markets

 

10.2

 

9.8

 

9.0

 

8.8

 

9.1

 

8.6

 

9.2

 

Personal and Other

 

8.0

 

8.0

 

7.6

 

7.6

 

7.5

 

7.1

 

7.0

 

Total EOP Loans

 

$

23.8

 

$

23.1

 

$

21.3

 

$

21.1

 

$

21.1

 

$

19.8

 

$

20.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (1)

 

$

723

 

$

744

 

$

720

 

$

650

 

$

648

 

$

629

 

$

635

 

As a % of Average Loans (1)

 

12.18

%

12.67

%

12.75

%

12.49

%

12.32

%

12.42

%

12.35

%

Net Credit Losses (in millions)

 

$

160

 

$

164

 

$

220

 

$

150

 

$

142

 

$

138

 

$

159

 

As a % of Average Loans

 

2.70

%

2.79

%

3.90

%

2.88

%

2.70

%

2.72

%

3.09

%

Loans 90+ Days Past Due (in millions) (2)

 

$

467

 

$

427

 

$

325

 

$

238

 

$

232

 

$

212

 

$

185

 

As a % of EOP Loans (2)

 

1.96

%

1.85

%

1.53

%

1.13

%

1.10

%

1.07

%

0.92

%

Loans 30-89 Days Past Due (in millions)

 

$

266

 

$

239

 

$

235

 

$

229

 

$

217

 

$

239

 

$

184

 

As a % of EOP Loans

 

1.12

%

1.03

%

1.10

%

1.09

%

1.03

%

1.21

%

0.92

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

6.1

 

6.1

 

5.9

 

5.9

 

5.9

 

5.7

 

5.6

 

Purchase Sales (in billions)

 

$

4.9

 

$

4.9

 

$

5.0

 

$

4.1

 

$

4.2

 

$

4.0

 

$

4.4

 

Average Loans (in billions) (3)

 

$

7.4

 

$

7.3

 

$

7.1

 

$

6.4

 

$

6.1

 

$

5.6

 

$

5.5

 

EOP Loans (in billions) (3)

 

$

7.4

 

$

7.3

 

$

6.7

 

$

6.1

 

$

5.9

 

$

5.4

 

$

5.4

 

Average Yield (4)

 

21.17

%

21.83

%

21.44

%

20.11

%

20.63

%

21.19

%

20.73

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (5)

 

$

409

 

$

439

 

$

417

 

$

340

 

$

343

 

$

330

 

$

310

 

As a % of Average Loans (5)

 

22.17

%

23.86

%

23.30

%

21.55

%

22.55

%

23.38

%

22.36

%

Net Credit Losses (in millions)

 

$

206

 

$

216

 

$

203

 

$

206

 

$

174

 

$

163

 

$

148

 

As a % of Average Loans

 

11.17

%

11.74

%

11.34

%

13.05

%

11.44

%

11.55

%

10.68

%

Net Credit Margin (in millions) (6)

 

$

334

 

$

355

 

$

359

 

$

254

 

$

283

 

$

282

 

$

279

 

As a % of Average Loans (6)

 

18.10

%

19.29

%

20.06

%

16.10

%

18.61

%

19.98

%

20.13

%

Loans 90+ Days Past Due (in millions)

 

$

245

 

$

244

 

$

242

 

$

203

 

$

200

 

$

169

 

$

173

 

As a % of EOP Loans

 

3.31

%

3.34

%

3.61

%

3.33

%

3.39

%

3.13

%

3.20

%

Loans 30-89 Days Past Due (in millions)

 

$

270

 

$

276

 

$

220

 

$

204

 

$

183

 

$

181

 

$

157

 

As a % of EOP Loans

 

3.65

%

3.78

%

3.28

%

3.34

%

3.10

%

3.35

%

2.91

%

 

(1)     Also includes net interest revenue related to the region’s deposit balances in excess of the average loan portfolio.

(2)     See footnote 3 on page 8.

(3)     Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)     Average yield is gross interest revenue earned divided by average loans.

(5)     Net interest revenue includes certain fees that are recorded as interest revenue.

(6)     Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

13


 

CITICORP

GLOBAL CONSUMER BANKING

ASIA (1) - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

1,339

 

$

1,375

 

$

1,370

 

$

1,341

 

$

1,383

 

$

1,343

 

$

1,333

 

$

1,346

 

$

1,307

 

$

1,273

 

$

1,240

 

$

1,271

 

$

1,230

 

Non-Interest Revenue

 

603

 

676

 

681

 

648

 

632

 

620

 

673

 

680

 

701

 

743

 

673

 

631

 

716

 

Total Revenues, Net of Interest Expense

 

1,942

 

2,051

 

2,051

 

1,989

 

2,015

 

1,963

 

2,006

 

2,026

 

2,008

 

2,016

 

1,913

 

1,902

 

1,946

 

Total Operating Expenses

 

1,214

 

1,293

 

1,245

 

1,246

 

1,274

 

1,252

 

1,276

 

1,399

 

1,262

 

1,226

 

1,203

 

1,248

 

1,211

 

Net Credit Losses

 

217

 

229

 

237

 

194

 

196

 

178

 

208

 

225

 

203

 

172

 

191

 

196

 

196

 

Credit Reserve Build / (Release)

 

(59

)

(48

)

(53

)

46

 

(24

)

(31

)

(22

)

26

 

—

 

21

 

(20

)

21

 

6

 

Provision for Unfunded Lending Commitments

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

14

 

10

 

12

 

(5

)

(4

)

Provision for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

158

 

181

 

184

 

240

 

172

 

147

 

186

 

251

 

217

 

203

 

183

 

212

 

198

 

Income from Continuing Operations before Taxes

 

570

 

577

 

622

 

503

 

569

 

564

 

544

 

376

 

529

 

587

 

527

 

442

 

537

 

Income Taxes

 

123

 

142

 

129

 

91

 

124

 

145

 

126

 

56

 

162

 

197

 

180

 

144

 

178

 

Income from Continuing Operations

 

447

 

435

 

493

 

412

 

445

 

419

 

418

 

320

 

367

 

390

 

347

 

298

 

359

 

Noncontrolling Interests

 

1

 

2

 

2

 

(4

)

2

 

3

 

3

 

2

 

3

 

5

 

3

 

—

 

5

 

Net Income

 

$

446

 

$

433

 

$

491

 

$

416

 

$

443

 

$

416

 

$

415

 

$

318

 

$

364

 

$

385

 

$

344

 

$

298

 

$

354

 

Average Assets (in billions of dollars)

 

$

113

 

$

116

 

$

115

 

$

114

 

$

116

 

$

112

 

$

115

 

$

116

 

$

117

 

$

116

 

$

115

 

$

117

 

$

117

 

Return on Average Assets

 

1.60

%

1.50

%

1.69

%

1.45

%

1.54

%

1.49

%

1.44

%

1.09

%

1.26

%

1.33

%

1.19

%

1.01

%

1.23

%

Efficiency Ratio

 

63

%

63

%

61

%

63

%

63

%

64

%

64

%

69

%

63

%

61

%

63

%

66

%

62

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

1.07

%

1.07

%

1.09

%

0.89

%

0.89

%

0.82

%

0.94

%

0.99

%

0.91

%

0.77

%

0.86

%

0.85

%

0.87

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

1,173

 

$

1,255

 

$

1,262

 

$

1,197

 

$

1,234

 

$

1,171

 

$

1,212

 

$

1,201

 

$

1,217

 

$

1,211

 

$

1,136

 

$

1,114

 

$

1,200

 

Citi-Branded Cards

 

769

 

796

 

789

 

792

 

781

 

792

 

794

 

825

 

791

 

805

 

777

 

788

 

746

 

Total

 

$

1,942

 

$

2,051

 

$

2,051

 

$

1,989

 

$

2,015

 

$

1,963

 

$

2,006

 

$

2,026

 

$

2,008

 

$

2,016

 

$

1,913

 

$

1,902

 

$

1,946

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

71

 

$

87

 

$

90

 

$

68

 

$

62

 

$

55

 

$

68

 

$

85

 

$

57

 

$

55

 

$

70

 

$

79

 

$

82

 

Citi-Branded Cards

 

146

 

142

 

147

 

126

 

134

 

123

 

140

 

140

 

146

 

117

 

121

 

117

 

114

 

Total

 

$

217

 

$

229

 

$

237

 

$

194

 

$

196

 

$

178

 

$

208

 

$

225

 

$

203

 

$

172

 

$

191

 

$

196

 

$

196

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

256

 

$

257

 

$

315

 

$

253

 

$

276

 

$

230

 

$

238

 

$

148

 

$

218

 

$

198

 

$

167

 

$

130

 

$

198

 

Citi-Branded Cards

 

191

 

178

 

178

 

159

 

169

 

189

 

180

 

172

 

149

 

192

 

180

 

168

 

161

 

Total

 

$

447

 

$

435

 

$

493

 

$

412

 

$

445

 

$

419

 

$

418

 

$

320

 

$

367

 

$

390

 

$

347

 

$

298

 

$

359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

1,942

 

$

2,051

 

$

2,051

 

$

1,989

 

$

2,015

 

$

1,963

 

$

2,006

 

$

2,026

 

$

2,008

 

$

2,016

 

$

1,913

 

$

1,902

 

$

1,946

 

Impact of FX Translation (2)

 

(292

)

(333

)

(303

)

(251

)

(280

)

(247

)

(263

)

(293

)

(276

)

(244

)

(202

)

(216

)

(188

)

Total Revenues - Ex-FX (3)

 

$

1,650

 

$

1,718

 

$

1,748

 

$

1,738

 

$

1,735

 

$

1,716

 

$

1,743

 

$

1,733

 

$

1,732

 

$

1,772

 

$

1,711

 

$

1,686

 

$

1,758

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

1,214

 

$

1,293

 

$

1,245

 

$

1,246

 

$

1,274

 

$

1,252

 

$

1,276

 

$

1,399

 

$

1,262

 

$

1,226

 

$

1,203

 

$

1,248

 

$

1,211

 

Impact of FX Translation (2)

 

(179

)

(217

)

(180

)

(159

)

(174

)

(142

)

(150

)

(183

)

(162

)

(139

)

(124

)

(137

)

(129

)

Total Operating Expenses - Ex-FX (3)

 

$

1,035

 

$

1,076

 

$

1,065

 

$

1,087

 

$

1,100

 

$

1,110

 

$

1,126

 

$

1,216

 

$

1,100

 

$

1,087

 

$

1,079

 

$

1,111

 

$

1,082

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

158

 

$

181

 

$

184

 

$

240

 

$

172

 

$

147

 

$

186

 

$

251

 

$

217

 

$

203

 

$

183

 

$

212

 

$

198

 

Impact of FX Translation (2)

 

(26

)

(40

)

(39

)

(40

)

(32

)

(19

)

(37

)

(44

)

(44

)

(26

)

(22

)

(27

)

(26

)

Provisions for LLR & PBC - Ex-FX (3)

 

$

132

 

$

141

 

$

145

 

$

200

 

$

140

 

$

128

 

$

149

 

$

207

 

$

173

 

$

177

 

$

161

 

$

185

 

$

172

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

446

 

$

433

 

$

491

 

$

416

 

$

443

 

$

416

 

$

415

 

$

318

 

$

364

 

$

385

 

$

344

 

$

298

 

$

354

 

Impact of FX Translation (2)

 

(65

)

(58

)

(62

)

(38

)

(46

)

(55

)

(51

)

(36

)

(30

)

(30

)

(20

)

(24

)

(13

)

Net Income - Ex-FX (3)

 

$

381

 

$

375

 

$

429

 

$

378

 

$

397

 

$

361

 

$

364

 

$

282

 

$

334

 

$

355

 

$

324

 

$

274

 

$

341

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.


 

CITICORP

GLOBAL CONSUMER BANKING

ASIA (1) - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

1,271

 

$

1,264

 

$

1,204

 

$

1,135

 

$

1,154

 

$

1,105

 

$

1,096

 

$

5,425

 

$

5,405

 

$

5,091

 

$

4,969

 

Non-Interest Revenue

 

727

 

744

 

635

 

675

 

703

 

591

 

548

 

2,608

 

2,605

 

2,748

 

2,822

 

Total Revenues, Net of Interest Expense

 

1,998

 

2,008

 

1,839

 

1,810

 

1,857

 

1,696

 

1,644

 

8,033

 

8,010

 

7,839

 

7,791

 

Total Operating Expenses

 

1,499

 

1,275

 

1,215

 

1,167

 

1,176

 

1,117

 

1,117

 

4,998

 

5,201

 

4,939

 

5,200

 

Net Credit Losses

 

212

 

198

 

189

 

173

 

189

 

175

 

184

 

877

 

807

 

762

 

795

 

Credit Reserve Build / (Release)

 

(12

)

(20

)

16

 

(42

)

(8

)

(61

)

22

 

(114

)

(51

)

22

 

(10

)

Provision for Unfunded Lending Commitments

 

(6

)

(1

)

(5

)

2

 

(4

)

—

 

—

 

—

 

—

 

31

 

(16

)

Provision for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

194

 

177

 

200

 

133

 

177

 

114

 

206

 

763

 

756

 

815

 

769

 

Income from Continuing Operations before Taxes

 

305

 

556

 

424

 

510

 

504

 

465

 

321

 

2,272

 

2,053

 

2,085

 

1,822

 

Income Taxes

 

95

 

186

 

142

 

171

 

168

 

160

 

104

 

485

 

451

 

683

 

601

 

Income from Continuing Operations

 

210

 

370

 

282

 

339

 

336

 

305

 

217

 

1,787

 

1,602

 

1,402

 

1,221

 

Noncontrolling Interests

 

5

 

4

 

3

 

(5

)

3

 

6

 

—

 

1

 

10

 

11

 

17

 

Net Income

 

$

205

 

$

366

 

$

279

 

$

344

 

$

333

 

$

299

 

$

217

 

$

1,786

 

$

1,592

 

$

1,391

 

$

1,204

 

Average Assets (in billions of dollars)

 

$

120

 

$

120

 

$

118

 

$

115

 

$

119

 

$

116

 

$

117

 

$

115

 

$

115

 

$

116

 

$

119

 

Return on Average Assets

 

0.69

%

1.21

%

0.94

%

1.21

%

1.12

%

1.02

%

0.74

%

1.55

%

1.38

%

1.20

%

1.01

%

Efficiency Ratio

 

75

%

63

%

66

%

64

%

63

%

66

%

68

%

62

%

65

%

63

%

67

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

0.90

%

0.83

%

0.81

%

0.78

%

0.84

%

0.80

%

0.85

%

1.03

%

0.91

%

0.85

%

0.85

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

1,214

 

$

1,227

 

$

1,127

 

$

1,152

 

$

1,179

 

$

1,067

 

$

1,008

 

$

4,887

 

$

4,818

 

$

4,678

 

$

4,768

 

Citi-Branded Cards

 

784

 

781

 

712

 

658

 

678

 

629

 

636

 

3,146

 

3,192

 

3,161

 

3,023

 

Total

 

$

1,998

 

$

2,008

 

$

1,839

 

$

1,810

 

$

1,857

 

$

1,696

 

$

1,644

 

$

8,033

 

$

8,010

 

$

7,839

 

$

7,791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

83

 

$

77

 

$

76

 

$

70

 

$

80

 

$

75

 

$

94

 

$

316

 

$

270

 

$

261

 

$

318

 

Citi-Branded Cards

 

129

 

121

 

113

 

103

 

109

 

100

 

90

 

561

 

537

 

501

 

477

 

Total

 

$

212

 

$

198

 

$

189

 

$

173

 

$

189

 

$

175

 

$

184

 

$

877

 

$

807

 

$

762

 

$

795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking

 

$

57

 

$

227

 

$

181

 

$

221

 

$

221

 

$

185

 

$

111

 

$

1,081

 

$

892

 

$

713

 

$

663

 

Citi-Branded Cards

 

153

 

143

 

101

 

118

 

115

 

120

 

106

 

706

 

710

 

689

 

558

 

Total

 

$

210

 

$

370

 

$

282

 

$

339

 

$

336

 

$

305

 

$

217

 

$

1,787

 

$

1,602

 

$

1,402

 

$

1,221

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue - as Reported

 

$

1,998

 

$

2,008

 

$

1,839

 

$

1,810

 

$

1,857

 

$

1,696

 

$

1,644

 

$

8,033

 

$

8,010

 

$

7,839

 

$

7,791

 

Impact of FX Translation (2)

 

(224

)

(204

)

(124

)

(72

)

(79

)

(7

)

—

 

(1,020

)

(924

)

(777

)

(577

)

Total Revenues - Ex-FX (3)

 

$

1,774

 

$

1,804

 

$

1,715

 

$

1,738

 

$

1,778

 

$

1,689

 

$

1,644

 

$

7,013

 

$

7,086

 

$

7,062

 

$

7,214

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

1,499

 

$

1,275

 

$

1,215

 

$

1,167

 

$

1,176

 

$

1,117

 

$

1,117

 

$

4,998

 

$

5,201

 

$

4,939

 

$

5,200

 

Impact of FX Translation (2)

 

(178

)

(140

)

(92

)

(47

)

(60

)

(7

)

—

 

(637

)

(546

)

(465

)

(422

)

Total Operating Expenses - Ex-FX (3)

 

$

1,321

 

$

1,135

 

$

1,123

 

$

1,120

 

$

1,116

 

$

1,110

 

$

1,117

 

$

4,361

 

$

4,655

 

$

4,474

 

$

4,778

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

194

 

$

177

 

$

200

 

$

133

 

$

177

 

$

114

 

$

206

 

$

763

 

$

756

 

$

815

 

$

769

 

Impact of FX Translation (2)

 

(36

)

(32

)

(25

)

(8

)

(12

)

(1

)

—

 

(130

)

(113

)

(100

)

(99

)

Provisions for LLR & PBC - Ex-FX (3)

 

$

158

 

$

145

 

$

175

 

$

125

 

$

165

 

$

113

 

$

206

 

$

633

 

$

643

 

$

715

 

$

670

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income - as Reported

 

$

205

 

$

366

 

$

279

 

$

344

 

$

333

 

$

299

 

$

217

 

$

1,786

 

$

1,592

 

$

1,391

 

$

1,204

 

Impact of FX Translation (2)

 

2

 

(16

)

(9

)

(8

)

(3

)

—

 

—

 

(192

)

(168

)

(83

)

(18

)

Net Income - Ex-FX (3)

 

$

207

 

$

350

 

$

270

 

$

336

 

$

330

 

$

299

 

$

217

 

$

1,594

 

$

1,424

 

$

1,308

 

$

1,186

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.


 

CITICORP

GLOBAL CONSUMER BANKING

ASIA (1) - PAGE 1

(In millions of dollars, except as otherwise noted)

 

 

 

 

Full

 

 

 

 

Year

 

 

 

 

2015

 

 

 

 

 

 

 

Net Interest Revenue

 

$

4,490

 

 

Non-Interest Revenue

 

2,517

 

 

Total Revenues, Net of Interest Expense

 

7,007

 

 

Total Operating Expenses

 

4,577

 

 

Net Credit Losses

 

721

 

 

Credit Reserve Build / (Release)

 

(89

)

 

Provision for Unfunded Lending Commitments

 

(2

)

 

Provision for Benefits and Claims

 

—

 

 

Provisions for Credit Losses and for Benefits and Claims (LLR & PBC)

 

630

 

 

Income from Continuing Operations before Taxes

 

1,800

 

 

Income Taxes

 

603

 

 

Income from Continuing Operations

 

1,197

 

 

Noncontrolling Interests

 

4

 

 

Net Income

 

$

1,193

 

 

Average Assets (in billions of dollars)

 

$

117

 

 

Return on Average Assets

 

1.02

%

 

Efficiency Ratio

 

65

%

 

 

 

 

 

 

Net Credit Losses as a % of Average Loans

 

0.81

%

 

 

 

 

 

 

Revenue by Business

 

 

 

 

Retail Banking

 

$

4,406

 

 

Citi-Branded Cards

 

2,601

 

 

Total

 

$

7,007

 

 

 

 

 

 

 

Net Credit Losses by Business

 

 

 

 

Retail Banking

 

$

319

 

 

Citi-Branded Cards

 

402

 

 

Total

 

$

721

 

 

 

 

 

 

 

Income from Continuing Operations by Business

 

 

 

 

Retail Banking

 

$

738

 

 

Citi-Branded Cards

 

459

 

 

Total

 

$

1,197

 

 

 

 

 

 

 

FX Translation Impact:

 

 

 

 

Total Revenue - as Reported

 

$

7,007

 

 

Impact of FX Translation (2)

 

—

 

 

Total Revenues - Ex-FX (3)

 

$

7,007

 

 

 

 

 

 

 

Total Operating Expenses - as Reported

 

$

4,577

 

 

Impact of FX Translation (2)

 

—

 

 

Total Operating Expenses - Ex-FX (3)

 

$

4,577

 

 

 

 

 

 

 

Provisions for LLR & PBC - as Reported

 

$

630

 

 

Impact of FX Translation (2)

 

—

 

 

Provisions for LLR & PBC - Ex-FX (3)

 

$

630

 

 

 

 

 

 

 

Net Income - as Reported

 

$

1,193

 

 

Impact of FX Translation (2)

 

—

 

 

Net Income - Ex-FX (3)

 

$

1,193

 

 

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)           Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 average exchange rates for all periods presented.

(3)           Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

14


 

CITICORP

GLOBAL CONSUMER BANKING

ASIA (1) - PAGE 2

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

877

 

870

 

844

 

841

 

803

 

746

 

737

 

727

 

695

 

692

 

659

 

625

 

605

 

Accounts (in millions)

 

17.6

 

17.8

 

18.0

 

17.9

 

18.0

 

18.2

 

18.2

 

18.3

 

18.3

 

18.3

 

18.2

 

17.9

 

17.9

 

Average Deposits

 

$

93.1

 

$

96.0

 

$

94.8

 

$

92.9

 

$

94.6

 

$

93.2

 

$

95.7

 

$

94.5

 

$

93.0

 

$

89.3

 

$

85.8

 

$

88.0

 

$

88.1

 

Investment Sales

 

$

11.5

 

$

10.8

 

$

9.3

 

$

6.7

 

$

9.2

 

$

7.7

 

$

10.1

 

$

10.0

 

$

12.3

 

$

11.7

 

$

8.7

 

$

8.7

 

$

10.7

 

Investment AUMs

 

$

47.2

 

$

47.7

 

$

41.1

 

$

41.5

 

$

44.6

 

$

44.2

 

$

47.5

 

$

50.1

 

$

52.7

 

$

50.5

 

$

53.7

 

$

54.2

 

$

56.1

 

Average Loans

 

$

62.7

 

$

66.1

 

$

66.6

 

$

66.6

 

$

68.3

 

$

67.2

 

$

68.4

 

$

69.8

 

$

69.7

 

$

69.4

 

$

69.7

 

$

72.1

 

$

72.8

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

32.6

 

$

33.9

 

$

32.7

 

$

33.8

 

$

35.1

 

$

34.6

 

$

35.5

 

$

35.9

 

$

35.8

 

$

35.0

 

$

36.4

 

$

37.1

 

$

37.8

 

Commercial Markets

 

16.4

 

17.0

 

16.9

 

16.7

 

17.0

 

16.2

 

16.3

 

15.9

 

16.1

 

16.6

 

16.8

 

16.7

 

17.4

 

Personal and Other

 

15.4

 

16.0

 

15.5

 

16.2

 

16.4

 

16.6

 

17.5

 

18.1

 

17.9

 

17.5

 

17.6

 

18.5

 

19.1

 

Total EOP Loans

 

$

64.4

 

$

66.9

 

$

65.1

 

$

66.7

 

$

68.5

 

$

67.4

 

$

69.3

 

$

69.9

 

$

69.8

 

$

69.1

 

$

70.8

 

$

72.3

 

$

74.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (2)

 

$

790

 

$

806

 

$

807

 

$

787

 

$

811

 

$

784

 

$

774

 

$

769

 

$

745

 

$

729

 

$

712

 

$

730

 

$

709

 

As a % of Average Loans (2)

 

5.11

%

4.89

%

4.81

%

4.69

%

4.78

%

4.69

%

4.50

%

4.38

%

4.33

%

4.21

%

4.05

%

4.02

%

3.95

%

Net Credit Losses (in millions)

 

$

71

 

$

87

 

$

90

 

$

68

 

$

62

 

$

55

 

$

68

 

$

85

 

$

57

 

$

55

 

$

70

 

$

79

 

$

82

 

As a % of Average Loans

 

0.46

%

0.53

%

0.54

%

0.41

%

0.37

%

0.33

%

0.40

%

0.48

%

0.33

%

0.32

%

0.40

%

0.43

%

0.46

%

Loans 90+ Days Past Due (in millions)

 

$

241

 

$

272

 

$

228

 

$

221

 

$

242

 

$

239

 

$

215

 

$

225

 

$

225

 

$

199

 

$

206

 

$

189

 

$

195

 

As a % of EOP Loans

 

0.37

%

0.41

%

0.35

%

0.33

%

0.35

%

0.35

%

0.31

%

0.32

%

0.32

%

0.29

%

0.29

%

0.26

%

0.26

%

Loans 30-89 Days Past Due (in millions)

 

$

532

 

$

482

 

$

410

 

$

459

 

$

447

 

$

448

 

$

446

 

$

462

 

$

474

 

$

439

 

$

394

 

$

394

 

$

404

 

As a % of EOP Loans

 

0.83

%

0.72

%

0.63

%

0.69

%

0.65

%

0.66

%

0.64

%

0.66

%

0.68

%

0.64

%

0.56

%

0.54

%

0.54

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

16.7

 

16.9

 

17.1

 

17.2

 

17.0

 

17.1

 

17.2

 

17.7

 

17.8

 

18.1

 

17.4

 

17.4

 

17.2

 

Purchase Sales (in billions)

 

$

16.8

 

$

18.3

 

$

18.3

 

$

18.6

 

$

18.6

 

$

18.5

 

$

18.8

 

$

20.6

 

$

19.5

 

$

19.9

 

$

19.0

 

$

20.4

 

$

18.8

 

Average Loans (in billions) (3)

 

$

19.6

 

$

20.1

 

$

19.9

 

$

19.5

 

$

20.2

 

$

19.6

 

$

19.9

 

$

20.3

 

$

20.4

 

$

19.7

 

$

18.5

 

$

19.0

 

$

18.9

 

EOP Loans (in billions) (3)

 

$

19.6

 

$

20.3

 

$

19.0

 

$

19.7

 

$

19.9

 

$

19.7

 

$

20.1

 

$

20.8

 

$

20.0

 

$

19.5

 

$

18.8

 

$

19.3

 

$

18.8

 

Average Yield (4)

 

15.21

%

15.16

%

14.99

%

14.90

%

14.73

%

14.59

%

14.37

%

14.22

%

13.91

%

13.67

%

13.48

%

13.39

%

13.34

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (5)

 

$

549

 

569

 

$

563

 

$

554

 

$

571

 

$

559

 

$

559

 

$

577

 

$

562

 

$

544

 

$

528

 

$

541

 

$

521

 

As a % of Average Loans (6)

 

11.36

%

11.35

%

11.22

%

11.27

%

11.37

%

11.47

%

11.18

%

11.31

%

11.17

%

11.08

%

11.32

%

11.30

%

11.18

%

Net Credit Losses (in millions)

 

$

146

 

$

142

 

$

147

 

$

126

 

$

134

 

$

123

 

$

140

 

$

140

 

$

146

 

$

117

 

$

121

 

$

117

 

$

114

 

As a % of Average Loans

 

3.02

%

2.83

%

2.93

%

2.56

%

2.67

%

2.52

%

2.80

%

2.74

%

2.90

%

2.38

%

2.59

%

2.44

%

2.45

%

Net Credit Margin (in millions) (6)

 

$

624

 

$

654

 

$

642

 

$

665

 

$

648

 

$

669

 

$

654

 

$

685

 

$

645

 

$

688

 

$

656

 

$

671

 

$

632

 

As a % of Average Loans (6)

 

12.91

%

13.05

%

12.80

%

13.53

%

12.90

%

13.73

%

13.07

%

13.42

%

12.82

%

14.01

%

14.07

%

14.01

%

13.56

%

Loans 90+ Days Past Due

 

$

260

 

$

273

 

$

234

 

$

235

 

$

246

 

$

243

 

$

244

 

$

260

 

$

256

 

$

236

 

$

205

 

$

203

 

$

215

 

As a % of EOP Loans

 

1.33

%

1.34

%

1.23

%

1.19

%

1.24

%

1.23

%

1.21

%

1.25

%

1.28

%

1.21

%

1.09

%

1.05

%

1.14

%

Loans 30-89 Days Past Due

 

$

390

 

$

381

 

$

328

 

$

350

 

$

353

 

$

347

 

$

370

 

$

370

 

$

358

 

$

319

 

$

284

 

$

295

 

$

290

 

As a % of EOP Loans

 

1.99

%

1.88

%

1.73

%

1.78

%

1.77

%

1.76

%

1.84

%

1.78

%

1.79

%

1.64

%

1.51

%

1.53

%

1.54

%

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)           Also includes net interest revenue related to the region’s deposit balances in excess of the average loan portfolio.

(3)           Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)           Average yield is gross interest revenue earned divided by average loans.

(5)           Net interest revenue includes certain fees that are recorded as interest revenue.

(6)           Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.


 

CITICORP

GLOBAL CONSUMER BANKING

ASIA (1) - PAGE 2

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

544

 

531

 

528

 

531

 

529

 

521

 

513

 

Accounts (in millions)

 

17.8

 

17.7

 

17.4

 

17.4

 

17.4

 

17.7

 

17.5

 

Average Deposits

 

$

91.1

 

$

90.9

 

$

88.0

 

$

88.2

 

$

89.3

 

$

86.4

 

$

86.7

 

Investment Sales

 

$

9.5

 

$

10.9

 

$

8.0

 

$

11.0

 

$

13.0

 

$

8.2

 

$

6.0

 

Investment AUMs

 

$

58.7

 

$

58.1

 

$

58.2

 

$

58.9

 

$

60.1

 

$

55.1

 

$

57.0

 

Average Loans

 

$

75.8

 

$

75.9

 

$

74.3

 

$

72.4

 

$

72.3

 

$

69.7

 

$

69.0

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

38.9

 

$

38.4

 

$

38.0

 

$

36.8

 

$

36.7

 

$

34.3

 

$

34.4

 

Commercial Markets

 

18.0

 

17.5

 

16.4

 

16.0

 

16.1

 

15.3

 

14.3

 

Personal and Other

 

19.7

 

19.4

 

18.9

 

19.0

 

19.6

 

19.0

 

19.7

 

Total EOP Loans

 

$

76.6

 

$

75.3

 

$

73.3

 

$

71.8

 

$

72.4

 

$

68.6

 

$

68.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (2)

 

$

737

 

$

735

 

$

706

 

$

667

 

$

680

 

$

659

 

$

646

 

As a % of Average Loans (2)

 

3.90

%

3.84

%

3.77

%

3.74

%

3.77

%

3.75

%

3.71

%

Net Credit Losses (in millions)

 

$

83

 

$

77

 

$

76

 

$

70

 

$

80

 

$

75

 

$

94

 

As a % of Average Loans

 

0.44

%

0.40

%

0.41

%

0.39

%

0.44

%

0.43

%

0.54

%

Loans 90+ Days Past Due (in millions)

 

$

210

 

$

212

 

$

186

 

$

179

 

$

185

 

$

179

 

$

173

 

As a % of EOP Loans

 

0.27

%

0.28

%

0.25

%

0.25

%

0.26

%

0.26

%

0.25

%

Loans 30-89 Days Past Due (in millions)

 

$

414

 

$

388

 

$

347

 

$

359

 

$

353

 

$

327

 

$

334

 

As a % of EOP Loans

 

0.54

%

0.52

%

0.47

%

0.50

%

0.49

%

0.48

%

0.49

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Open Accounts (in millions)

 

17.1

 

17.2

 

17.3

 

17.3

 

17.3

 

17.1

 

16.9

 

Purchase Sales (in billions)

 

$

20.0

 

$

20.2

 

$

20.4

 

$

18.6

 

$

19.2

 

$

18.2

 

$

19.3

 

Average Loans (in billions) (3)

 

$

19.2

 

$

19.2

 

$

18.6

 

$

18.0

 

$

18.0

 

$

17.1

 

$

17.3

 

EOP Loans (in billions) (3)

 

$

19.6

 

$

18.9

 

$

18.6

 

$

17.8

 

$

18.1

 

$

17.0

 

$

17.6

 

Average Yield (4)

 

13.15

%

13.06

%

12.79

%

12.62

%

12.51

%

12.42

%

12.39

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue (in millions) (5)

 

$

534

 

$

529

 

$

498

 

$

467

 

$

475

 

$

446

 

$

450

 

As a % of Average Loans (6)

 

11.16

%

10.93

%

10.62

%

10.52

%

10.58

%

10.35

%

10.32

%

Net Credit Losses (in millions)

 

$

129

 

$

121

 

$

113

 

$

103

 

$

109

 

$

100

 

$

90

 

As a % of Average Loans

 

2.69

%

2.50

%

2.41

%

2.32

%

2.43

%

2.32

%

2.06

%

Net Credit Margin (in millions) (6)

 

$

656

 

$

660

 

$

599

 

$

555

 

$

570

 

$

528

 

$

546

 

As a % of Average Loans (6)

 

13.70

%

13.64

%

12.78

%

12.50

%

12.70

%

12.25

%

12.52

%

Loans 90+ Days Past Due

 

$

223

 

$

207

 

$

195

 

$

191

 

$

191

 

$

171

 

$

180

 

As a % of EOP Loans

 

1.14

%

1.10

%

1.05

%

1.07

%

1.06

%

1.01

%

1.02

%

Loans 30-89 Days Past Due

 

$

301

 

$

278

 

$

256

 

$

249

 

$

247

 

$

220

 

$

226

 

As a % of EOP Loans

 

1.54

%

1.47

%

1.38

%

1.40

%

1.36

%

1.29

%

1.28

%

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)           Also includes net interest revenue related to the region’s deposit balances in excess of the average loan portfolio.

(3)           Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)           Average yield is gross interest revenue earned divided by average loans.

(5)           Net interest revenue includes certain fees that are recorded as interest revenue.

(6)           Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

 

Reclassified to conform to the current period’s presentation.

 

15


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and Fees

 

$

989

 

$

994

 

$

1,020

 

$

902

 

$

1,017

 

$

953

 

$

915

 

$

966

 

$

1,046

 

$

1,019

 

$

994

 

$

938

 

$

1,016

 

Administration and Other Fiduciary Fees

 

733

 

718

 

636

 

635

 

678

 

723

 

645

 

667

 

674

 

677

 

616

 

625

 

629

 

Investment Banking

 

793

 

1,001

 

590

 

645

 

811

 

793

 

1,000

 

1,014

 

1,085

 

983

 

842

 

952

 

957

 

Principal Transactions

 

2,305

 

1,334

 

1,722

 

(301

)

1,978

 

1,471

 

773

 

85

 

2,466

 

2,442

 

854

 

697

 

2,596

 

Other

 

25

 

387

 

1,623

 

217

 

(286

)

430

 

60

 

70

 

444

 

486

 

177

 

(79

)

206

 

Total Non-Interest Revenue

 

4,845

 

4,434

 

5,591

 

2,098

 

4,198

 

4,370

 

3,393

 

2,802

 

5,715

 

5,607

 

3,483

 

3,133

 

5,404

 

Net Interest Revenue (including Dividends)

 

3,802

 

3,827

 

3,919

 

3,793

 

3,930

 

3,897

 

4,064

 

4,217

 

3,876

 

3,987

 

3,846

 

3,933

 

3,849

 

Total Revenues, Net of Interest Expense

 

8,647

 

8,261

 

9,510

 

5,891

 

8,128

 

8,267

 

7,457

 

7,019

 

9,591

 

9,594

 

7,329

 

7,066

 

9,253

 

Total Operating Expenses

 

5,113

 

5,290

 

5,029

 

5,240

 

5,138

 

5,000

 

4,881

 

5,259

 

4,975

 

4,911

 

4,786

 

5,152

 

4,884

 

Net Credit Losses

 

211

 

152

 

97

 

168

 

(54

)

128

 

146

 

79

 

41

 

56

 

69

 

28

 

132

 

Credit Reserve Build / (Release)

 

(391

)

(67

)

26

 

(138

)

169

 

(19

)

(147

)

(33

)

20

 

(66

)

(18

)

(97

)

(86

)

Provision for Unfunded Lending Commitments

 

4

 

(5

)

45

 

47

 

(12

)

26

 

(26

)

51

 

4

 

(20

)

93

 

(24

)

(20

)

Provision for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Provisions for Credit Losses and for Benefits and Claims

 

(176

)

80

 

168

 

77

 

103

 

135

 

(27

)

97

 

65

 

(30

)

144

 

(93

)

26

 

Income from Continuing Operations before Taxes

 

3,710

 

2,891

 

4,313

 

574

 

2,887

 

3,132

 

2,603

 

1,663

 

4,551

 

4,713

 

2,399

 

2,007

 

4,343

 

Income Taxes

 

1,178

 

825

 

1,315

 

(75

)

724

 

850

 

601

 

266

 

1,491

 

1,551

 

629

 

526

 

1,346

 

Income from Continuing Operations

 

2,532

 

2,066

 

2,998

 

649

 

2,163

 

2,282

 

2,002

 

1,397

 

3,060

 

3,162

 

1,770

 

1,481

 

2,997

 

Noncontrolling Interests

 

12

 

9

 

4

 

30

 

59

 

30

 

14

 

20

 

50

 

23

 

18

 

18

 

26

 

Net Income

 

$

2,520

 

$

2,057

 

$

2,994

 

$

619

 

$

2,104

 

$

2,252

 

$

1,988

 

$

1,377

 

$

3,010

 

$

3,139

 

$

1,752

 

$

1,463

 

$

2,971

 

Average Assets (in billions of dollars)

 

$

1,204

 

$

1,254

 

$

1,243

 

$

1,211

 

$

1,222

 

$

1,249

 

$

1,247

 

$

1,250

 

$

1,246

 

$

1,280

 

$

1,253

 

$

1,272

 

$

1,287

 

Return on Average Assets

 

0.85

%

0.66

%

0.96

%

0.20

%

0.69

%

0.73

%

0.63

%

0.44

%

0.98

%

0.98

%

0.55

%

0.46

%

0.94

%

Return on Average Assets (Excluding CVA/DVA) (1)(2)

 

0.90

%

0.63

%

0.58

%

0.22

%

0.97

%

0.68

%

0.79

%

0.54

%

1.04

%

0.89

%

0.62

%

0.49

%

0.94

%

Efficiency Ratio

 

59

%

64

%

53

%

89

%

63

%

60

%

65

%

75

%

52

%

51

%

65

%

73

%

53

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Region - Excluding CVA/DVA (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

3,196

 

$

2,755

 

$

2,238

 

$

1,456

 

$

2,718

 

$

2,620

 

$

2,468

 

$

2,410

 

$

3,695

 

$

3,136

 

$

2,525

 

$

2,338

 

$

3,729

 

EMEA

 

2,950

 

2,545

 

2,497

 

2,100

 

3,505

 

2,527

 

2,750

 

2,381

 

2,938

 

2,817

 

2,363

 

2,081

 

2,750

 

Latin America

 

1,012

 

1,126

 

957

 

959

 

1,219

 

1,207

 

1,262

 

1,186

 

1,266

 

1,240

 

1,146

 

1,180

 

1,145

 

Asia

 

1,718

 

1,688

 

1,930

 

1,450

 

2,062

 

1,715

 

1,776

 

1,552

 

2,002

 

1,939

 

1,627

 

1,632

 

1,636

 

Total

 

$

8,876

 

$

8,114

 

$

7,622

 

$

5,965

 

$

9,504

 

$

8,069

 

$

8,256

 

$

7,529

 

$

9,901

 

$

9,132

 

$

7,661

 

$

7,231

 

$

9,260

 

CVA/DVA {excluded as applicable in lines above}

 

(229

)

147

 

1,888

 

(74

)

(1,376

)

198

 

(799

)

(510

)

(310

)

462

 

(332

)

(165

)

(7

)

Total Revenues, net of Interest Expense

 

$

8,647

 

$

8,261

 

$

9,510

 

$

5,891

 

$

8,128

 

$

8,267

 

$

7,457

 

$

7,019

 

$

9,591

 

$

9,594

 

$

7,329

 

$

7,066

 

$

9,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations by Region - Excluding CVA/DVA (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

709

 

$

474

 

$

190

 

$

(280

)

$

625

 

$

557

 

$

645

 

$

507

 

$

1,302

 

$

862

 

$

598

 

$

478

 

$

1,369

 

EMEA

 

1,014

 

589

 

609

 

416

 

1,215

 

666

 

829

 

464

 

774

 

876

 

516

 

422

 

763

 

Latin America

 

452

 

451

 

355

 

345

 

511

 

497

 

518

 

375

 

482

 

521

 

441

 

202

 

388

 

Asia

 

499

 

461

 

672

 

208

 

666

 

436

 

509

 

367

 

694

 

619

 

421

 

479

 

481

 

Total

 

$

2,674

 

$

1,975

 

$

1,826

 

$

689

 

$

3,017

 

$

2,156

 

$

2,501

 

$

1,713

 

$

3,252

 

$

2,878

 

$

1,976

 

$

1,581

 

$

3,001

 

CVA/DVA (after-tax) {excluded as applicable in lines above}

 

(142

)

91

 

1,172

 

(40

)

(854

)

126

 

(499

)

(316

)

(192

)

284

 

(206

)

(100

)

(4

)

Income from Continuing Operations

 

$

2,532

 

$

2,066

 

$

2,998

 

$

649

 

$

2,163

 

$

2,282

 

$

2,002

 

$

1,397

 

$

3,060

 

$

3,162

 

$

1,770

 

$

1,481

 

$

2,997

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans by Region (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

71

 

$

73

 

$

68

 

$

72

 

$

74

 

$

79

 

$

89

 

87

 

$

87

 

$

93

 

$

95

 

101

 

$

103

 

EMEA

 

38

 

46

 

50

 

52

 

53

 

54

 

55

 

55

 

56

 

58

 

58

 

59

 

60

 

Latin America

 

27

 

30

 

32

 

33

 

35

 

35

 

35

 

38

 

39

 

38

 

39

 

40

 

41

 

Asia

 

42

 

45

 

52

 

57

 

59

 

63

 

64

 

61

 

60

 

64

 

67

 

68

 

68

 

Total

 

$

178

 

$

194

 

$

202

 

$

214

 

$

221

 

$

231

 

$

243

 

$

241

 

$

242

 

$

253

 

$

259

 

$

268

 

$

272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Deposits by Region (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

131

 

$

131

 

$

134

 

$

152

 

$

164

 

$

157

 

$

148

 

$

144

 

$

148

 

$

151

 

$

166

 

$

177

 

$

178

 

EMEA

 

154

 

152

 

147

 

150

 

157

 

160

 

175

 

171

 

173

 

174

 

182

 

186

 

185

 

Latin America

 

48

 

49

 

49

 

50

 

51

 

50

 

60

 

56

 

57

 

58

 

64

 

61

 

67

 

Asia

 

137

 

140

 

137

 

133

 

144

 

152

 

155

 

147

 

141

 

144

 

148

 

145

 

139

 

Total

 

$

470

 

$

472

 

$

467

 

$

485

 

$

516

 

$

519

 

$

538

 

$

518

 

$

519

 

$

527

 

$

560

 

$

569

 

$

569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Deposits by Business (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Treasury and Trade Solutions

 

$

287

 

$

282

 

$

290

 

$

301

 

$

321

 

$

328

 

$

344

 

$

324

 

$

334

 

$

343

 

$

370

 

$

379

 

$

380

 

All Other ICG Businesses

 

183

 

190

 

177

 

184

 

195

 

191

 

194

 

194

 

185

 

184

 

190

 

190

 

189

 

Total

 

$

470

 

$

472

 

$

467

 

$

485

 

$

516

 

$

519

 

$

538

 

$

518

 

$

519

 

$

527

 

$

560

 

$

569

 

$

569

 

 

(1)                                 Return on Average Assets excluding CVA/DVA is defined as annualized net income less CVA/DVA, divided by average assets.  See above for the after-tax CVA/DVA for each period presented.

(2)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and Fees

 

$

994

 

$

1,017

 

$

977

 

$

997

 

$

990

 

$

958

 

$

926

 

$

3,905

 

$

3,851

 

$

3,997

 

Administration and Other Fiduciary Fees

 

655

 

631

 

623

 

613

 

663

 

594

 

573

 

2,722

 

2,713

 

2,592

 

Investment Banking

 

1,257

 

1,047

 

1,008

 

1,134

 

1,120

 

828

 

1,028

 

3,029

 

3,618

 

3,862

 

Principal Transactions

 

1,571

 

1,393

 

329

 

2,197

 

1,793

 

1,209

 

619

 

5,060

 

4,307

 

6,459

 

Other

 

133

 

261

 

187

 

257

 

193

 

903

 

55

 

2,252

 

274

 

1,028

 

Total Non-Interest Revenue

 

4,610

 

4,349

 

3,124

 

5,198

 

4,759

 

4,492

 

3,201

 

16,968

 

14,763

 

17,938

 

Net Interest Revenue (including Dividends)

 

3,848

 

4,041

 

4,087

 

3,879

 

4,187

 

4,167

 

4,108

 

15,341

 

16,108

 

15,642

 

Total Revenues, Net of Interest Expense

 

8,458

 

8,390

 

7,211

 

9,077

 

8,946

 

8,659

 

7,309

 

32,309

 

30,871

 

33,580

 

Total Operating Expenses

 

4,768

 

4,936

 

4,903

 

4,652

 

4,842

 

4,715

 

4,865

 

20,672

 

20,278

 

19,824

 

Net Credit Losses

 

9

 

16

 

118

 

(1

)

82

 

37

 

96

 

628

 

299

 

194

 

Credit Reserve Build / (Release)

 

(96

)

(23

)

103

 

119

 

(123

)

193

 

465

 

(570

)

(30

)

(161

)

Provision for Unfunded Lending Commitments

 

(23

)

(25

)

(58

)

(32

)

(46

)

83

 

89

 

91

 

39

 

53

 

Provision for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Provisions for Credit Losses and for Benefits and Claims

 

(110

)

(32

)

163

 

86

 

(87

)

313

 

650

 

149

 

308

 

86

 

Income from Continuing Operations before Taxes

 

3,800

 

3,486

 

2,145

 

4,339

 

4,191

 

3,631

 

1,794

 

11,488

 

10,285

 

13,670

 

Income Taxes

 

1,215

 

1,117

 

451

 

1,365

 

1,331

 

1,198

 

532

 

3,243

 

2,441

 

4,197

 

Income from Continuing Operations

 

2,585

 

2,369

 

1,694

 

2,974

 

2,860

 

2,433

 

1,262

 

8,245

 

7,844

 

9,473

 

Noncontrolling Interests

 

19

 

45

 

31

 

35

 

15

 

(6

)

7

 

55

 

123

 

109

 

Net Income

 

$

2,566

 

$

2,324

 

$

1,663

 

$

2,939

 

$

2,845

 

$

2,439

 

$

1,255

 

$

8,190

 

$

7,721

 

$

9,364

 

Average Assets (in billions of dollars)

 

$

1,295

 

$

1,283

 

$

1,303

 

$

1,279

 

$

1,284

 

$

1,264

 

$

1,257

 

$

1,228

 

$

1,242

 

$

1,263

 

Return on Average Assets

 

0.79

%

0.72

%

0.51

%

0.93

%

0.89

%

0.77

%

0.40

%

0.67

%

0.62

%

0.74

%

Return on Average Assets (Excluding CVA/DVA) (1)(2)

 

0.80

%

0.78

%

0.50

%

0.95

%

0.83

%

0.72

%

0.43

%

0.58

%

0.75

%

0.76

%

Efficiency Ratio

 

56

%

59

%

68

%

51

%

54

%

54

%

67

%

64

%

66

%

59

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Region - Excluding CVA/DVA (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

3,317

 

$

3,377

 

$

2,529

 

$

3,318

 

$

3,379

 

$

3,346

 

$

2,779

 

$

9,645

 

$

10,216

 

$

11,694

 

EMEA

 

2,432

 

2,530

 

2,073

 

3,006

 

2,435

 

2,253

 

2,132

 

10,092

 

11,163

 

10,199

 

Latin America

 

1,148

 

1,012

 

958

 

1,000

 

1,011

 

1,062

 

970

 

4,054

 

4,874

 

4,832

 

Asia

 

1,593

 

1,787

 

1,639

 

1,822

 

1,818

 

1,777

 

1,614

 

6,786

 

7,105

 

7,200

 

Total

 

$

8,490

 

$

8,706

 

$

7,199

 

$

9,146

 

$

8,643

 

$

8,438

 

$

7,495

 

$

30,577

 

$

33,358

 

$

33,925

 

CVA/DVA {excluded as applicable in lines above}

 

(32

)

(316

)

12

 

(69

)

303

 

221

 

(186

)

1,732

 

(2,487

)

(345

)

Total Revenues, net of Interest Expense

 

$

8,458

 

$

8,390

 

$

7,211

 

$

9,077

 

$

8,946

 

$

8,659

 

$

7,309

 

$

32,309

 

$

30,871

 

$

33,580

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from Continuing Operations by Region - Excluding CVA/DVA (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,145

 

$

961

 

$

649

 

$

980

 

$

989

 

$

931

 

$

517

 

$

1,093

 

$

2,334

 

$

3,240

 

EMEA

 

564

 

659

 

242

 

1,003

 

613

 

408

 

231

 

2,628

 

3,174

 

2,588

 

Latin America

 

447

 

312

 

282

 

381

 

420

 

397

 

190

 

1,603

 

1,901

 

1,646

 

Asia

 

449

 

631

 

514

 

654

 

648

 

554

 

441

 

1,840

 

1,978

 

2,213

 

Total

 

$

2,605

 

$

2,563

 

$

1,687

 

$

3,018

 

$

2,670

 

$

2,290

 

$

1,379

 

$

7,164

 

$

9,387

 

$

9,687

 

CVA/DVA (after-tax) {excluded as applicable in lines above}

 

(20

)

(194

)

7

 

(44

)

190

 

143

 

(117

)

1,081

 

(1,543

)

(214

)

Income from Continuing Operations

 

$

2,585

 

$

2,369

 

$

1,694

 

$

2,974

 

$

2,860

 

$

2,433

 

$

1,262

 

$

8,245

 

$

7,844

 

$

9,473

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans by Region (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

110

 

$

111

 

114

 

$

117

 

$

121

 

$

126

 

128

 

$

73

 

$

85

 

$

97

 

EMEA

 

61

 

62

 

61

 

60

 

63

 

63

 

62

 

47

 

54

 

58

 

Latin America

 

42

 

41

 

40

 

40

 

41

 

40

 

43

 

31

 

36

 

39

 

Asia

 

70

 

69

 

66

 

62

 

63

 

62

 

61

 

49

 

62

 

65

 

Total

 

$

283

 

$

283

 

$

281

 

$

279

 

$

288

 

$

291

 

$

294

 

$

200

 

$

237

 

$

259

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Deposits by Region (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

175

 

$

177

 

$

192

 

$

194

 

$

197

 

$

200

 

$

199

 

 

 

 

 

 

 

EMEA

 

186

 

179

 

164

 

166

 

177

 

173

 

171

 

 

 

 

 

 

 

Latin America

 

66

 

62

 

58

 

63

 

64

 

63

 

64

 

 

 

 

 

 

 

Asia

 

145

 

145

 

142

 

148

 

150

 

159

 

154

 

 

 

 

 

 

 

Total

 

$

572

 

$

563

 

$

556

 

$

571

 

$

588

 

$

595

 

$

588

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Deposits by Business (in billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Treasury and Trade Solutions

 

$

383

 

$

380

 

$

378

 

$

386

 

$

397

 

$

399

 

$

392

 

 

 

 

 

 

 

All Other ICG Businesses

 

189

 

183

 

178

 

185

 

191

 

196

 

196

 

 

 

 

 

 

 

Total

 

$

572

 

$

563

 

$

556

 

$

571

 

$

588

 

$

595

 

$

588

 

 

 

 

 

 

 

 

(1)           Return on Average Assets excluding CVA/DVA is defined as annualized net income less CVA/DVA, divided by average assets.  See above for the after-tax CVA/DVA for each period presented.

(2)           Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Commissions and Fees

 

4,004

 

3,871

 

Administration and Other Fiduciary Fees

 

2,538

 

2,443

 

Investment Banking

 

4,269

 

4,110

 

Principal Transactions

 

5,889

 

5,818

 

Other

 

787

 

1,408

 

Total Non-Interest Revenue

 

17,487

 

17,650

 

Net Interest Revenue (including Dividends)

 

15,825

 

16,341

 

Total Revenues, Net of Interest Expense

 

33,312

 

33,991

 

Total Operating Expenses

 

19,491

 

19,074

 

Net Credit Losses

 

275

 

214

 

Credit Reserve Build / (Release)

 

(102

)

654

 

Provision for Unfunded Lending Commitments

 

(126

)

94

 

Provision for Benefits and Claims

 

—

 

—

 

Provisions for Credit Losses and for Benefits and Claims

 

47

 

962

 

Income from Continuing Operations before Taxes

 

13,774

 

13,955

 

Income Taxes

 

4,129

 

4,426

 

Income from Continuing Operations

 

9,645

 

9,529

 

Noncontrolling Interests

 

121

 

51

 

Net Income

 

$

9,524

 

$

9,478

 

Average Assets (in billions of dollars)

 

$

1,292

 

$

1,271

 

Return on Average Assets

 

0.74

%

0.75

%

Return on Average Assets (Excluding CVA/DVA) (1)(2)

 

0.75

%

0.73

%

Efficiency Ratio

 

59

%

56

%

 

 

 

 

 

 

Revenue by Region - Excluding CVA/DVA (2)

 

 

 

 

 

North America

 

$

12,952

 

$

12,822

 

EMEA

 

9,785

 

9,826

 

Latin America

 

4,263

 

4,043

 

Asia

 

6,655

 

7,031

 

Total

 

$

33,655

 

$

33,722

 

CVA/DVA {excluded as applicable in lines above}

 

(343

)

269

 

Total Revenues, net of Interest Expense

 

$

33,312

 

$

33,991

 

 

 

 

 

 

 

Income from Continuing Operations by Region - Excluding CVA/DVA (2)

 

 

 

 

 

North America

 

$

4,124

 

$

3,417

 

EMEA

 

2,228

 

2,255

 

Latin America

 

1,429

 

1,388

 

Asia

 

2,075

 

2,297

 

Total

 

$

9,856

 

$

9,357

 

CVA/DVA (after-tax) {excluded as applicable in lines above}

 

(211

)

172

 

Income from Continuing Operations

 

$

9,645

 

$

9,529

 

 

 

 

 

 

 

Average Loans by Region (in billions)

 

 

 

 

 

North America

 

$

107

 

$

120

 

EMEA

 

61

 

62

 

Latin America

 

41

 

41

 

Asia

 

68

 

62

 

Total

 

$

277

 

$

285

 

 

 

 

 

 

 

EOP Deposits by Region (in billions)

 

 

 

 

 

North America

 

 

 

 

 

EMEA

 

 

 

 

 

Latin America

 

 

 

 

 

Asia

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

EOP Deposits by Business (in billions)

 

 

 

 

 

Treasury and Trade Solutions

 

 

 

 

 

All Other ICG Businesses

 

 

 

 

 

Total

 

 

 

 

 

 

(1)                                 Return on Average Assets excluding CVA/DVA is defined as annualized net income less CVA/DVA, divided by average assets. See above for the after-tax CVA/DVA for each period presented.

(2)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

Reclassified to conform to the current period’s presentation.

 

16


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

REVENUES BY BUSINESS

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue Details - Excluding CVA/DVA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment Banking:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advisory

 

$

141

 

$

168

 

$

177

 

$

160

 

$

108

 

$

196

 

$

193

 

$

201

 

$

198

 

$

207

 

$

162

 

$

256

 

$

174

 

Equity Underwriting

 

220

 

299

 

136

 

104

 

169

 

207

 

171

 

185

 

251

 

307

 

200

 

311

 

299

 

Debt Underwriting

 

598

 

738

 

544

 

462

 

684

 

586

 

681

 

722

 

720

 

644

 

583

 

581

 

586

 

Total Investment Banking

 

959

 

1,205

 

857

 

726

 

961

 

989

 

1,045

 

1,108

 

1,169

 

1,158

 

945

 

1,148

 

1,059

 

Treasury and Trade Solutions

 

1,790

 

1,885

 

1,902

 

1,912

 

2,001

 

2,062

 

1,968

 

1,950

 

1,905

 

1,985

 

1,927

 

1,918

 

1,922

 

Corporate Lending - Excluding Gain/(Loss) on Loan Hedges

 

319

 

308

 

335

 

344

 

396

 

453

 

460

 

418

 

368

 

437

 

410

 

427

 

449

 

Private Bank

 

543

 

578

 

568

 

539

 

601

 

594

 

612

 

599

 

631

 

647

 

616

 

602

 

671

 

Total Banking Revenues (Ex-CVA/DVA and Gain/(Loss) on Loan Hedges) (1)

 

$

3,611

 

$

3,976

 

$

3,662

 

$

3,521

 

$

3,959

 

$

4,098

 

$

4,085

 

$

4,075

 

$

4,073

 

$

4,227

 

$

3,898

 

$

4,095

 

$

4,101

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Lending - Gain/(Loss) on Loan Hedges (2)

 

(64

)

54

 

702

 

(173

)

(344

)

157

 

(251

)

(258

)

(23

)

23

 

(147

)

(139

)

(17

)

Total Banking Revenues (Ex-CVA/DVA) and including G(L) on Loan Hedges (1)

 

$

3,547

 

$

4,030

 

$

4,364

 

$

3,348

 

$

3,615

 

$

4,255

 

$

3,834

 

$

3,817

 

$

4,050

 

$

4,250

 

$

3,751

 

$

3,956

 

$

4,084

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Income Markets

 

4,203

 

3,126

 

2,457

 

1,860

 

4,951

 

2,997

 

3,808

 

2,879

 

4,733

 

3,505

 

2,854

 

2,448

 

3,918

 

Equity Markets

 

1,035

 

735

 

265

 

261

 

897

 

533

 

499

 

435

 

805

 

904

 

692

 

504

 

884

 

Securities Services

 

523

 

558

 

580

 

509

 

517

 

484

 

479

 

467

 

492

 

529

 

481

 

476

 

485

 

Other

 

(432

)

(335

)

(44

)

(13

)

(476

)

(200

)

(364

)

(69

)

(179

)

(56

)

(117

)

(153

)

(111

)

Total Markets and Securities Services (Ex-CVA/DVA) (1)

 

$

5,329

 

$

4,084

 

$

3,258

 

$

2,617

 

$

5,889

 

$

3,814

 

$

4,422

 

$

3,712

 

$

5,851

 

$

4,882

 

$

3,910

 

$

3,275

 

$

5,176

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total ICG (Ex-CVA/DVA) (1)

 

$

8,876

 

$

8,114

 

$

7,622

 

$

5,965

 

$

9,504

 

$

8,069

 

$

8,256

 

$

7,529

 

$

9,901

 

$

9,132

 

$

7,661

 

$

7,231

 

$

9,260

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CVA/DVA {excluded as applicable in lines above}

 

(229

)

147

 

1,888

 

(74

)

(1,376

)

198

 

(799

)

(510

)

(310

)

462

 

(332

)

(165

)

(7

)

Total Revenues, net of Interest Expense

 

$

8,647

 

$

8,261

 

$

9,510

 

$

5,891

 

$

8,128

 

$

8,267

 

$

7,457

 

$

7,019

 

$

9,591

 

$

9,594

 

$

7,329

 

$

7,066

 

$

9,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxable-equivalent adjustments (3)

 

$

185

 

$

181

 

$

226

 

$

201

 

$

212

 

$

225

 

$

292

 

$

212

 

$

202

 

$

222

 

$

238

 

$

185

 

$

169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total ICG Revenues (Ex-CVA/DVA) and including Taxable-equivalent adjustments (1) (3)

 

$

9,061

 

$

8,295

 

$

7,848

 

$

6,166

 

$

9,716

 

$

8,294

 

$

8,548

 

$

7,741

 

$

10,103

 

$

9,354

 

$

7,899

 

$

7,416

 

$

9,429

 

 

(1)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure. 

(2)                                 Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio.

The fixed premium costs of these hedges is netted against the core lending revenues to reflect the cost of credit protection.

(3)                                 Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

 

Reclassified to conform to the current period’s presentation.


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

REVENUES BY BUSINESS

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue Details - Excluding CVA/DVA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment Banking:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advisory

 

$

190

 

$

314

 

$

260

 

$

295

 

$

257

 

$

239

 

$

302

 

$

646

 

$

698

 

$

823

 

$

938

 

Equity Underwriting

 

399

 

300

 

252

 

231

 

296

 

173

 

206

 

759

 

732

 

1,069

 

1,250

 

Debt Underwriting

 

756

 

640

 

558

 

676

 

737

 

532

 

623

 

2,342

 

2,673

 

2,528

 

2,540

 

Total Investment Banking

 

1,345

 

1,254

 

1,070

 

1,202

 

1,290

 

944

 

1,131

 

3,747

 

4,103

 

4,420

 

4,728

 

Treasury and Trade Solutions

 

1,981

 

1,934

 

1,933

 

1,890

 

1,955

 

1,933

 

1,992

 

7,489

 

7,981

 

7,735

 

7,770

 

Corporate Lending - Excluding Gain/(Loss) on Loan Hedges

 

488

 

477

 

465

 

476

 

476

 

433

 

432

 

1,306

 

1,727

 

1,642

 

1,879

 

Private Bank

 

659

 

665

 

669

 

709

 

747

 

715

 

691

 

2,228

 

2,406

 

2,496

 

2,664

 

Total Banking Revenues (Ex-CVA/DVA and Gain/(Loss) on Loan Hedges) (1)

 

$

4,473

 

$

4,330

 

$

4,137

 

$

4,277

 

$

4,468

 

$

4,025

 

$

4,246

 

$

14,770

 

$

16,217

 

$

16,293

 

$

17,041

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Lending - Gain/(Loss) on Loan Hedges (2)

 

(44

)

91

 

86

 

52

 

(66

)

352

 

(14

)

519

 

(696

)

(286

)

116

 

Total Banking Revenues (Ex-CVA/DVA) and including G(L) on Loan Hedges (1)

 

$

4,429

 

$

4,421

 

$

4,223

 

$

4,329

 

$

4,402

 

$

4,377

 

$

4,232

 

$

15,289

 

$

15,521

 

$

16,007

 

$

17,157

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Income Markets

 

3,120

 

3,064

 

2,069

 

3,484

 

3,047

 

2,566

 

2,221

 

11,646

 

14,635

 

13,540

 

12,171

 

Equity Markets

 

610

 

755

 

473

 

867

 

649

 

1,002

 

603

 

2,296

 

2,364

 

2,905

 

2,722

 

Securities Services

 

521

 

535

 

509

 

543

 

570

 

513

 

517

 

2,170

 

1,947

 

1,978

 

2,050

 

Other

 

(190

)

(69

)

(75

)

(77

)

(25

)

(20

)

(78

)

(824

)

(1,109

)

(505

)

(445

)

Total Markets and Securities Services (Ex-CVA/DVA) (1)

 

$

4,061

 

$

4,285

 

$

2,976

 

$

4,817

 

$

4,241

 

$

4,061

 

$

3,263

 

$

15,288

 

$

17,837

 

$

17,918

 

$

16,498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total ICG (Ex-CVA/DVA) (1)

 

$

8,490

 

$

8,706

 

$

7,199

 

$

9,146

 

$

8,643

 

$

8,438

 

$

7,495

 

$

30,577

 

$

33,358

 

$

33,925

 

$

33,655

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CVA/DVA {excluded as applicable in lines above}

 

(32

)

(316

)

12

 

(69

)

303

 

221

 

(186

)

1,732

 

(2,487

)

(345

)

(343

)

Total Revenues, net of Interest Expense

 

$

8,458

 

$

8,390

 

$

7,211

 

$

9,077

 

$

8,946

 

$

8,659

 

$

7,309

 

$

32,309

 

$

30,871

 

$

33,580

 

$

33,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxable-equivalent adjustments (3)

 

$

169

 

$

170

 

$

171

 

$

164

 

$

161

 

$

162

 

$

173

 

$

793

 

$

941

 

$

847

 

$

679

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total ICG Revenues (Ex-CVA/DVA) and including Taxable-equivalent adjustments (1) (3)

 

$

8,659

 

$

8,876

 

$

7,370

 

$

9,310

 

$

8,804

 

$

8,600

 

$

7,668

 

$

31,370

 

$

34,299

 

$

34,772

 

$

34,334

 

 

(1)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

(2)                                 Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio.

The fixed premium costs of these hedges is netted against the core lending revenues to reflect the cost of credit protection.

(3)                                 Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

 

Reclassified to conform to the current period’s presentation.


 

CITICORP

INSTITUTIONAL CLIENTS GROUP

REVENUES BY BUSINESS

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

 

 

Year

 

 

 

2015

 

 

 

 

 

Revenue Details - Excluding CVA/DVA:

 

 

 

Investment Banking:

 

 

 

Advisory

 

$

1,093

 

Equity Underwriting

 

906

 

Debt Underwriting

 

2,568

 

Total Investment Banking

 

4,567

 

Treasury and Trade Solutions

 

7,770

 

Corporate Lending - Excluding Gain/(Loss) on Loan Hedges

 

1,817

 

Private Bank

 

2,862

 

Total Banking Revenues (Ex-CVA/DVA and Gain/(Loss) on Loan Hedges) (1)

 

$

17,016

 

 

 

 

 

Corporate Lending - Gain/(Loss) on Loan Hedges (2)

 

324

 

Total Banking Revenues (Ex-CVA/DVA) and including G(L) on Loan Hedges (1)

 

$

17,340

 

 

 

 

 

Fixed Income Markets

 

11,318

 

Equity Markets

 

3,121

 

Securities Services

 

2,143

 

Other

 

(200

)

Total Markets and Securities Services (Ex-CVA/DVA) (1)

 

$

16,382

 

 

 

 

 

Total ICG (Ex-CVA/DVA) (1)

 

$

33,722

 

 

 

 

 

CVA/DVA {excluded as applicable in lines above}

 

269

 

Total Revenues, net of Interest Expense

 

$

33,991

 

 

 

 

 

Taxable-equivalent adjustments (3)

 

$

660

 

 

 

 

 

Total ICG Revenues (Ex-CVA/DVA) and including Taxable-equivalent adjustments (1) (3)

 

$

34,382

 

 

(1)                                 Presentation of this metric excluding CVA/DVA is a non-GAAP financial measure.

(2)                                 Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio.

The fixed premium costs of these hedges is netted against the core lending revenues to reflect the cost of credit protection.

(3)                                 Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

 

Reclassified to conform to the current period’s presentation.

 

17


 

CORPORATE / OTHER (1)

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

(24

)

$

(89

)

$

(89

)

$

13

 

$

(45

)

$

(124

)

$

(197

)

$

(209

)

$

(146

)

$

(137

)

$

(194

)

$

(131

)

Non-Interest Revenue

 

(63

)

340

 

423

 

393

 

570

 

(108

)

272

 

187

 

196

 

307

 

302

 

125

 

Total Revenues, Net of Interest Expense

 

(87

)

251

 

334

 

406

 

525

 

(232

)

75

 

(22

)

50

 

170

 

108

 

(6

)

Total Operating Expenses

 

458

 

427

 

337

 

325

 

552

 

343

 

529

 

867

 

346

 

296

 

211

 

198

 

Net Credit Losses

 

1

 

—

 

1

 

1

 

1

 

1

 

(1

)

(1

)

—

 

—

 

—

 

—

 

Credit Reserve Build / (Release)

 

(1

)

—

 

(1

)

(1

)

(1

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Provision for Benefits and Claims

 

1

 

—

 

(1

)

1

 

—

 

(1

)

—

 

—

 

—

 

—

 

—

 

—

 

Provision for Unfunded Lending Commitments

 

—

 

—

 

1

 

(1

)

—

 

—

 

—

 

1

 

—

 

—

 

—

 

—

 

Provisions for Loan Losses and for Benefits and Claims

 

1

 

—

 

—

 

—

 

—

 

—

 

(1

)

—

 

—

 

—

 

—

 

—

 

Income from Continuing Operations before Taxes

 

(546

)

(176

)

(3

)

81

 

(27

)

(575

)

(453

)

(889

)

(296

)

(126

)

(103

)

(204

)

Income Taxes

 

(171

)

(155

)

(73

)

(17

)

110

 

(333

)

(578

)

(220

)

(155

)

69

 

(162

)

33

 

Income from Continuing Operations

 

(375

)

(21

)

70

 

98

 

(137

)

(242

)

125

 

(669

)

(141

)

(195

)

59

 

(237

)

Income (Loss) from Discontinued Operations, net of taxes

 

32

 

50

 

—

 

(14

)

12

 

7

 

8

 

(85

)

(33

)

30

 

92

 

181

 

Noncontrolling Interests

 

—

 

—

 

(41

)

14

 

63

 

9

 

8

 

5

 

30

 

7

 

22

 

27

 

Net Income (Loss)

 

$

(343

)

$

29

 

$

111

 

$

70

 

$

(188

)

$

(244

)

$

125

 

$

(759

)

$

(204

)

$

(172

)

$

129

 

$

(83

)

EOP Assets (in billions of dollars)

 

$

32

 

$

37

 

$

42

 

$

39

 

$

46

 

$

43

 

$

48

 

$

43

 

$

48

 

$

49

 

$

51

 

$

50

 

Average Assets (in billions of dollars)

 

$

34

 

$

34

 

$

39

 

$

41

 

$

39

 

$

42

 

$

45

 

$

50

 

$

50

 

$

45

 

$

53

 

$

57

 

 

(1)                                 Includes certain costs of global staff functions, other corporate expenses and certain global operations and technology expenses, Corporate Treasury, and Discontinued operations.

 

Reclassified to conform to the current period’s presentation.


 

CORPORATE / OTHER (1)

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue

 

$

(35

)

$

(45

)

$

(63

)

$

(81

)

$

(27

)

$

(22

)

$

(64

)

$

(39

)

$

(189

)

$

(575

)

$

(608

)

Non-Interest Revenue

 

259

 

135

 

144

 

(11

)

239

 

393

 

282

 

146

 

1,093

 

921

 

930

 

Total Revenues, Net of Interest Expense

 

224

 

90

 

81

 

(92

)

212

 

371

 

218

 

107

 

904

 

346

 

322

 

Total Operating Expenses

 

402

 

637

 

1,721

 

3,260

 

542

 

386

 

349

 

473

 

1,547

 

2,291

 

1,051

 

Net Credit Losses

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

3

 

—

 

—

 

Credit Reserve Build / (Release)

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(3

)

(1

)

—

 

Provision for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

1

 

(1

)

—

 

Provision for Unfunded Lending Commitments

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

1

 

—

 

Provisions for Loan Losses and for Benefits and Claims

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

1

 

(1

)

—

 

Income from Continuing Operations before Taxes

 

(178

)

(547

)

(1,640

)

(3,352

)

(330

)

(15

)

(131

)

(366

)

(644

)

(1,944

)

(729

)

Income Taxes

 

209

 

(163

)

(103

)

(287

)

(311

)

(246

)

(314

)

(467

)

(416

)

(1,021

)

(215

)

Income from Continuing Operations

 

(387

)

(384

)

(1,537

)

(3,065

)

(19

)

231

 

183

 

101

 

(228

)

(923

)

(514

)

Income (Loss) from Discontinued Operations, net of taxes

 

37

 

(22

)

(16

)

(1

)

(5

)

6

 

(10

)

(45

)

68

 

(58

)

270

 

Noncontrolling Interests

 

10

 

24

 

3

 

4

 

10

 

(2

)

3

 

7

 

(27

)

85

 

86

 

Net Income (Loss)

 

$

(360

)

$

(430

)

$

(1,556

)

$

(3,070

)

$

(34

)

$

239

 

$

170

 

$

49

 

$

(133

)

$

(1,066

)

$

(330

)

EOP Assets (in billions of dollars)

 

$

51

 

$

55

 

$

53

 

$

50

 

$

52

 

$

52

 

$

52

 

$

52

 

 

 

 

 

 

 

Average Assets (in billions of dollars)

 

$

48

 

$

55

 

$

64

 

$

64

 

$

60

 

$

49

 

$

59

 

$

51

 

$

37

 

$

44

 

$

51

 

 

(1)                                 Includes certain costs of global staff functions, other corporate expenses and certain global operations and technology expenses, Corporate Treasury, and Discontinued operations.

 

Reclassified to conform to the current period’s presentation.


 

CORPORATE / OTHER (1)

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Net Interest Revenue

 

$

(224

)

$

(152

)

Non-Interest Revenue

 

527

 

1,060

 

Total Revenues, Net of Interest Expense

 

303

 

908

 

Total Operating Expenses

 

6,020

 

1,750

 

Net Credit Losses

 

—

 

—

 

Credit Reserve Build / (Release)

 

—

 

—

 

Provision for Benefits and Claims

 

—

 

—

 

Provision for Unfunded Lending Commitments

 

—

 

—

 

Provisions for Loan Losses and for Benefits and Claims

 

—

 

—

 

Income from Continuing Operations before Taxes

 

(5,717

)

(842

)

Income Taxes

 

(344

)

(1,338

)

Income from Continuing Operations

 

(5,373

)

496

 

Income (Loss) from Discontinued Operations, net of taxes

 

(2

)

(54

)

Noncontrolling Interests

 

41

 

18

 

Net Income (Loss)

 

$

(5,416

)

$

424

 

EOP Assets (in billions of dollars)

 

 

 

 

 

Average Assets (in billions of dollars)

 

$

58

 

$

55

 

 

(1)                                 Includes certain costs of global staff functions, other corporate expenses and certain global operations and technology expenses, Corporate Treasury, and Discontinued operations.

 

Reclassified to conform to the current period’s presentation.

 

18


 

CITI HOLDINGS

INCOME STATEMENT AND BALANCE SHEET DATA

(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenue

 

$

1,664

 

$

1,697

 

$

1,441

 

$

1,495

 

$

1,319

 

$

1,192

 

$

1,294

 

$

1,241

 

$

1,349

 

$

1,367

 

$

1,336

 

$

1,424

 

Non-interest revenue (1)

 

997

 

1,762

 

712

 

632

 

569

 

718

 

(4,027

)

816

 

544

 

698

 

856

 

853

 

Total revenues, net of interest expense

 

2,661

 

3,459

 

2,153

 

2,127

 

1,888

 

1,910

 

(2,733

)

2,057

 

1,893

 

2,065

 

2,192

 

2,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

3,165

 

2,325

 

2,032

 

1,726

 

1,874

 

1,479

 

1,964

 

1,139

 

1,089

 

893

 

793

 

896

 

Credit Reserve Build / (Release) (2)

 

(1,614

)

(577

)

(530

)

(651

)

(510

)

(226

)

(800

)

64

 

(333

)

(472

)

(674

)

(526

)

Provision for loan losses (1)

 

1,551

 

1,748

 

1,502

 

1,075

 

1,364

 

1,253

 

1,164

 

1,203

 

756

 

421

 

119

 

370

 

Provision for Benefits and Claims

 

204

 

183

 

204

 

188

 

181

 

175

 

171

 

166

 

179

 

165

 

166

 

155

 

Provision for unfunded lending commitments

 

21

 

(8

)

(3

)

(51

)

(26

)

(19

)

(16

)

5

 

(4

)

7

 

(5

)

(7

)

Total provisions for credit losses and for benefits and claims

 

1,776

 

1,923

 

1,703

 

1,212

 

1,519

 

1,409

 

1,319

 

1,374

 

931

 

593

 

280

 

518

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

2,218

 

2,479

 

2,311

 

2,742

 

2,053

 

2,082

 

2,020

 

2,532

 

2,341

 

2,341

 

2,157

 

2,289

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations before Income Taxes

 

(1,333

)

(943

)

(1,861

)

(1,827

)

(1,684

)

(1,581

)

(6,072

)

(1,849

)

(1,379

)

(869

)

(245

)

(530

)

Provision (benefits) for income taxes

 

(475

)

(386

)

(691

)

(422

)

(643

)

(635

)

(2,487

)

(755

)

(582

)

(340

)

(149

)

(116

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations

 

(858

)

(557

)

(1,170

)

(1,405

)

(1,041

)

(946

)

(3,585

)

(1,094

)

(797

)

(529

)

(96

)

(414

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling Interests

 

61

 

50

 

7

 

1

 

2

 

1

 

—

 

1

 

5

 

1

 

6

 

4

 

Citi Holding’s Net Income (Loss)

 

$

(919

)

$

(607

)

$

(1,177

)

$

(1,406

)

$

(1,043

)

$

(947

)

$

(3,585

)

$

(1,095

)

$

(802

)

$

(530

)

$

(102

)

$

(418

)

Average Assets (in billions of dollars)

 

$

351

 

$

322

 

$

309

 

$

285

 

$

274

 

$

252

 

$

237

 

$

222

 

$

205

 

$

193

 

$

173

 

$

167

 

Return on Average Assets

 

(1.07

)%

(0.77

)%

(1.53

)%

(1.99

)%

(1.56

)%

(1.54

)%

(6.12

)%

(2.00

)%

(1.62

)%

(1.10

)%

(0.23

)%

(0.99

)%

Efficiency Ratio

 

83

%

72

%

107

%

129

%

109

%

109

%

-74

%

123

%

124

%

113

%

98

%

101

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

$

342

 

$

314

 

$

295

 

$

274

 

$

259

 

$

242

 

$

227

 

$

211

 

$

200

 

$

178

 

$

171

 

$

164

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Loans

 

$

198

 

$

187

 

$

173

 

$

160

 

$

153

 

$

147

 

$

141

 

$

135

 

$

126

 

$

115

 

$

112

 

$

108

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Deposits

 

$

112

 

$

110

 

$

107

 

$

100

 

$

102

 

$

102

 

$

112

 

$

111

 

$

106

 

$

105

 

$

83

 

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Net Credit Losses as a % of Average Loans

 

5.42

%

4.70

%

4.26

%

4.36

%

5.12

%

4.08

%

5.76

%

3.56

%

3.48

%

2.97

%

2.71

%

3.35

%

 

(1)                                 As a result of Citigroup’s entry into an agreement in March 2015 to sell OneMain Financial (OneMain), OneMain was classified as held-for-sale (HFS) at the end of the first quarter 2015.  As a result of HFS accounting treatment, approximately $160 million, $116 million and $74 million of cost of credit was recorded as a reduction in revenue (Other revenue) during the second, third and fourth quarters of 2015, respectively.  The OneMain sale was completed on November 15, 2015.

 

(2)                            The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

Reclassified to conform to the current period’s presentation.


 

CITI HOLDINGS

INCOME STATEMENT AND BALANCE SHEET DATA

(In millions of dollars, except as otherwise noted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenue

 

$

1,413

 

$

1,498

 

$

1,367

 

$

1,279

 

$

1,259

 

$

1,200

 

$

1,151

 

$

847

 

$

6,297

 

$

5,046

 

$

5,476

 

Non-interest revenue (1)

 

938

 

887

 

1,073

 

853

 

886

 

769

 

530

 

2,318

 

4,103

 

(1,924

)

2,951

 

Total revenues, net of interest expense

 

2,351

 

2,385

 

2,440

 

2,132

 

2,145

 

1,969

 

1,681

 

3,165

 

10,400

 

3,122

 

8,427

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

664

 

530

 

486

 

506

 

469

 

334

 

272

 

261

 

9,248

 

6,456

 

3,671

 

Credit Reserve Build / (Release) (2)

 

(341

)

(210

)

(148

)

(221

)

(172

)

(185

)

(171

)

73

 

(3,372

)

(1,472

)

(2,005

)

Provision for loan losses (1)

 

323

 

320

 

338

 

285

 

297

 

149

 

101

 

334

 

5,876

 

4,984

 

1,666

 

Provision for Benefits and Claims

 

167

 

156

 

167

 

166

 

169

 

160

 

161

 

134

 

779

 

693

 

665

 

Provision for unfunded lending commitments

 

(5

)

(3

)

(3

)

—

 

(5

)

2

 

(19

)

(1

)

(41

)

(56

)

(9

)

Total provisions for credit losses and for benefits and claims

 

485

 

473

 

502

 

451

 

461

 

311

 

243

 

467

 

6,614

 

5,621

 

2,322

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

2,306

 

5,307

 

1,660

 

1,586

 

1,385

 

1,362

 

1,374

 

1,450

 

9,750

 

8,687

 

9,128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations before Income Taxes

 

(440

)

(3,395

)

278

 

95

 

299

 

296

 

64

 

1,248

 

(5,964

)

(11,186

)

(3,023

)

Provision (benefits) for income taxes

 

(159

)

72

 

64

 

31

 

149

 

140

 

65

 

568

 

(1,974

)

(4,520

)

(1,187

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations

 

(281

)

(3,467

)

214

 

64

 

150

 

156

 

(1

)

680

 

(3,990

)

(6,666

)

(1,836

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling Interests

 

2

 

—

 

4

 

—

 

1

 

—

 

—

 

10

 

119

 

4

 

16

 

Citi Holding’s Net Income (Loss)

 

$

(283

)

$

(3,467

)

$

210

 

$

64

 

$

149

 

$

156

 

$

(1

)

$

670

 

$

(4,109

)

$

(6,670

)

$

(1,852

)

Average Assets (in billions of dollars)

 

$

162

 

$

159

 

$

152

 

$

141

 

$

134

 

$

126

 

$

120

 

$

97

 

$

317

 

$

246

 

$

185

 

Return on Average Assets

 

(0.71

)%

(8.75

)%

0.55

%

0.18

%

0.45

%

0.50

%

0.00

%

2.74

%

(1.31

)%

(2.76

)%

(1.01

)%

Efficiency Ratio

 

98

%

223

%

68

%

74

%

65

%

69

%

82

%

46

%

94

%

278

%

108

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Data (in billions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

$

161

 

$

158

 

$

146

 

$

138

 

$

130

 

$

124

 

$

117

 

$

81

 

$

274

 

$

211

 

$

164

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Loans

 

$

104

 

$

97

 

$

91

 

$

85

 

$

67

 

$

64

 

$

60

 

$

49

 

$

160

 

$

135

 

$

108

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total EOP Deposits

 

$

67

 

$

58

 

$

49

 

$

21

 

$

16

 

$

12

 

$

11

 

$

10

 

$

100

 

$

111

 

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Net Credit Losses as a % of Average Loans

 

2.55

%

2.10

%

2.12

%

2.12

%

2.37

%

1.94

%

1.68

%

1.83

%

4.70

%

4.65

%

3.13

%

 

(1)                                 As a result of Citigroup’s entry into an agreement in March 2015 to sell OneMain Financial (OneMain), OneMain was classified as held-for-sale (HFS) at the end of the first quarter 2015.  As a result of HFS accounting treatment, approximately $160 million, $116 million and $74 million of cost of credit was recorded as a reduction in revenue (Other revenue) during the second, third and fourth quarters of 2015, respectively.  The OneMain sale was completed on November 15, 2015.

 

(2)                                 The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

Reclassified to conform to the current period’s presentation.


 

CITI HOLDINGS

INCOME STATEMENT AND BALANCE SHEET DATA

(In millions of dollars, except as otherwise noted)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

Revenues

 

 

 

 

 

Net interest revenue

 

$

5,557

 

$

4,457

 

Non-interest revenue (1)

 

3,751

 

4,503

 

Total revenues, net of interest expense

 

9,308

 

8,960

 

 

 

 

 

 

 

Provisions for Credit Losses and for Benefits and Claims

 

 

 

 

 

Net Credit Losses

 

2,186

 

1,336

 

Credit Reserve Build / (Release) (2)

 

(920

)

(455

)

Provision for loan losses (1)

 

1,266

 

881

 

Provision for Benefits and Claims

 

656

 

624

 

Provision for unfunded lending commitments

 

(11

)

(23

)

Total provisions for credit losses and for benefits and claims

 

1,911

 

1,482

 

 

 

 

 

 

 

Total operating expenses

 

10,859

 

5,571

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations before Income Taxes

 

(3,462

)

1,907

 

Provision (benefits) for income taxes

 

8

 

922

 

 

 

 

 

 

 

Income (Loss) from Continuing Operations

 

(3,470

)

985

 

 

 

 

 

 

 

Noncontrolling Interests

 

6

 

11

 

Citi Holding’s Net Income (Loss)

 

$

(3,476

)

$

974

 

Average Assets (in billions of dollars)

 

$

154

 

$

119

 

Return on Average Assets

 

(2.26

)%

0.82

%

Efficiency Ratio

 

117

%

62

%

 

 

 

 

 

 

Balance Sheet Data (in billions):

 

 

 

 

 

 

 

 

 

 

 

Total EOP Assets

 

$

138

 

$

81

 

 

 

 

 

 

 

Total EOP Loans

 

$

85

 

$

49

 

 

 

 

 

 

 

Total EOP Deposits

 

$

21

 

$

10

 

 

 

 

 

 

 

Consumer Net Credit Losses as a % of Average Loans

 

2.23

%

1.99

%

 

(1)                                 As a result of Citigroup’s entry into an agreement in March 2015 to sell OneMain Financial (OneMain), OneMain was classified as held-for-sale (HFS) at the end of the first quarter 2015.  As a result of HFS accounting treatment, approximately $160 million, $116 million and $74 million of cost of credit was recorded as a reduction in revenue (Other revenue) during the second, third and fourth quarters of 2015, respectively.  The OneMain sale was completed on November 15, 2015.

 

(2)                                 The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

Reclassified to conform to the current period’s presentation.

 

19


 

CITI HOLDINGS
CONSUMER KEY INDICATORS - Page 1
(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITI HOLDINGS KEY INDICATORS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - International (1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,112

 

1,117

 

1,028

 

1,013

 

998

 

953

 

940

 

643

 

628

 

525

 

509

 

487

 

467

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions)

 

$

33.4

 

$

35.7

 

$

34.8

 

$

33.1

 

$

30.0

 

$

28.3

 

$

27.7

 

$

26.8

 

$

25.8

 

$

24.2

 

$

20.8

 

$

20.8

 

$

19.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

7.6

 

$

6.7

 

$

6.6

 

$

6.4

 

$

6.2

 

$

5.8

 

$

5.8

 

$

5.5

 

$

4.9

 

$

4.6

 

$

4.4

 

$

4.3

 

$

4.0

 

Cards

 

13.8

 

14.6

 

13.7

 

13.6

 

13.5

 

13.1

 

9.5

 

9.3

 

8.8

 

5.2

 

8.3

 

8.3

 

8.7

 

Commercial Markets

 

3.2

 

3.4

 

3.1

 

3.2

 

3.2

 

3.1

 

3.3

 

2.9

 

2.9

 

2.9

 

3.0

 

2.9

 

3.1

 

Personal and Other

 

8.3

 

10.3

 

9.6

 

6.6

 

6.5

 

6.1

 

9.2

 

8.9

 

8.3

 

8.3

 

5.5

 

5.2

 

4.3

 

EOP Loans (in billions of dollars)

 

$

32.9

 

$

35.0

 

$

33.0

 

$

29.8

 

$

29.4

 

$

28.1

 

$

27.8

 

$

26.6

 

$

24.9

 

$

21.0

 

$

21.2

 

$

20.7

 

$

20.1

 

Net Interest Revenue

 

$

625

 

$

926

 

$

830

 

$

886

 

$

865

 

$

710

 

$

743

 

$

688

 

$

664

 

$

693

 

$

603

 

$

603

 

$

537

 

As a % of Average Loans

 

8.48

%

11.53

%

10.52

%

11.88

%

13.13

%

11.51

%

12.21

%

11.75

%

12.08

%

11.49

%

11.50

%

11.50

%

11.05

%

Net Credit Losses

 

$

487

 

$

446

 

$

387

 

$

407

 

$

310

 

$

303

 

$

280

 

$

257

 

$

244

 

$

174

 

$

204

 

$

195

 

$

176

 

As a % of Average Loans

 

6.61

%

5.56

%

4.91

%

5.46

%

4.70

%

4.91

%

4.60

%

4.39

%

4.44

%

2.88

%

3.89

%

3.72

%

3.62

%

Loans 90+ Days Past Due

 

$

987

 

$

958

 

$

862

 

$

802

 

$

800

 

$

742

 

$

730

 

$

709

 

$

626

 

$

506

 

$

435

 

$

388

 

$

388

 

As a % of EOP Loans

 

3.00

%

2.74

%

2.61

%

2.69

%

2.72

%

2.64

%

2.63

%

2.67

%

2.51

%

2.41

%

2.05

%

1.87

%

1.93

%

Loans 30-89 Days Past Due

 

$

1,371

 

$

1,281

 

$

1,138

 

$

971

 

$

997

 

$

908

 

$

882

 

$

849

 

$

749

 

$

586

 

$

520

 

$

498

 

$

498

 

As a % of EOP Loans

 

4.17

%

3.66

%

3.45

%

3.26

%

3.39

%

3.23

%

3.17

%

3.19

%

3.01

%

2.79

%

2.45

%

2.41

%

2.48

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - North America (3) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,835

 

1,816

 

1,794

 

1,729

 

1,720

 

1,592

 

1,582

 

1,564

 

1,501

 

1,493

 

1,483

 

1,471

 

1,459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions of dollars)

 

$

156.5

 

$

147.6

 

$

139.0

 

$

129.4

 

$

122.1

 

$

117.1

 

$

112.7

 

$

107.7

 

$

103.4

 

$

97.0

 

$

90.6

 

$

86.8

 

$

83.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions of dollars)

 

$

150.3

 

$

141.8

 

$

132.6

 

$

123.9

 

$

118.9

 

$

114.6

 

$

109.1

 

$

105.1

 

$

98.3

 

$

91.7

 

$

88.3

 

$

85.3

 

$

82.3

 

Net Interest Revenue

 

$

1,014

 

$

937

 

$

874

 

$

738

 

$

668

 

$

661

 

$

701

 

$

689

 

$

757

 

$

747

 

$

779

 

$

819

 

$

862

 

As a % of Average Loans

 

2.63

%

2.55

%

2.49

%

2.26

%

2.20

%

2.27

%

2.47

%

2.55

%

2.97

%

3.09

%

3.41

%

3.74

%

4.17

%

Net Credit Losses

 

$

2,006

 

$

1,660

 

$

1,440

 

$

1,341

 

$

1,582

 

$

1,136

 

$

1,703

 

$

916

 

$

835

 

$

724

 

$

556

 

$

713

 

$

474

 

As a % of Average Loans

 

5.20

%

4.51

%

4.11

%

4.11

%

5.21

%

3.90

%

6.01

%

3.38

%

3.28

%

2.99

%

2.43

%

3.26

%

2.29

%

Loans 90+ Days Past Due

 

$

6,762

 

$

5,515

 

$

5,308

 

$

5,428

 

$

5,220

 

$

4,991

 

$

4,608

 

$

4,267

 

$

3,428

 

$

2,992

 

$

2,793

 

$

2,593

 

$

2,544

 

As a % of EOP Loans

 

4.81

%

4.17

%

4.31

%

4.73

%

4.75

%

4.71

%

4.58

%

4.41

%

3.80

%

3.57

%

3.46

%

3.32

%

3.38

%

Loans 30-89 Days Past Due

 

$

5,460

 

$

5,381

 

$

5,318

 

$

4,644

 

$

4,074

 

$

4,161

 

$

4,317

 

$

3,835

 

$

3,121

 

$

2,896

 

$

2,660

 

$

2,524

 

$

2,103

 

As a % of EOP Loans

 

3.89

%

4.07

%

4.32

%

4.05

%

3.71

%

3.93

%

4.29

%

3.96

%

3.46

%

3.45

%

3.30

%

3.24

%

2.79

%

 

(1)                                 Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)                                 The first and second quarters of 2015 reflect the transfers of loans and branches to held-for-sale (HFS) as a result of the agreement in December 2014 to sell the Japan retail banking business (Japan Retail).  The first and second quarters of 2015 reflect the transfers of loans to HFS as a result of the agreement in March 2015 to sell the Japan cards business (Japan Cards). The second, third and fourth quarters of 2015 reflect the HFS reclassification of interest revenue on loans to other interest earning assets. The Japan Cards sale was completed on December 14, 2015.

(3)                                 The first, second and third quarters of 2015 reflect the transfers of loans and branches to HFS resulting from the agreement to sell OneMain. As a result of HFS accounting treatment, approximately $160 million, $131 million and $73 million of net credit losses (NCLs) were recorded as a reduction of revenue (Other revenue) during the second, third and fourth quarters of 2015, respectively. The second, third and fourth quarters of 2015 reflect the HFS reclassification of interest revenue on loans to other interest earning assets.

 

Reclassified to conform to the current period’s presentation.


 

CITI HOLDINGS
CONSUMER KEY INDICATORS - Page 1
(In millions of dollars, except as otherwise noted)

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITI HOLDINGS KEY INDICATORS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - International (1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

430

 

360

 

349

 

318

 

301

 

304

 

293

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions)

 

$

19.9

 

$

18.6

 

$

14.8

 

$

12.9

 

$

9.9

 

$

9.4

 

$

8.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Lending

 

$

4.0

 

$

2.8

 

$

2.6

 

$

0.7

 

$

0.7

 

$

0.6

 

$

0.6

 

Cards

 

8.7

 

5.9

 

5.7

 

4.3

 

4.1

 

3.8

 

3.6

 

Commercial Markets

 

3.1

 

2.9

 

2.9

 

2.6

 

2.4

 

2.1

 

2.0

 

Personal and Other

 

4.1

 

3.8

 

3.2

 

2.6

 

2.8

 

3.5

 

2.0

 

EOP Loans (in billions of dollars)

 

$

19.9

 

$

15.4

 

$

14.4

 

$

10.2

 

$

10.0

 

$

10.0

 

$

8.2

 

Net Interest Revenue

 

$

594

 

$

494

 

$

414

 

$

434

 

$

415

 

$

389

 

$

336

 

As a % of Average Loans

 

11.97

%

10.54

%

11.10

%

13.64

%

16.21

%

16.42

%

16.06

%

Net Credit Losses

 

$

170

 

$

143

 

$

116

 

$

112

 

$

116

 

$

93

 

$

122

 

As a % of Average Loans

 

3.43

%

3.05

%

3.11

%

3.52

%

4.70

%

3.93

%

5.83

%

Loans 90+ Days Past Due

 

$

367

 

$

248

 

$

225

 

$

194

 

$

185

 

$

174

 

$

157

 

As a % of EOP Loans

 

1.84

%

1.61

%

1.56

%

1.90

%

1.85

%

1.74

%

1.91

%

Loans 30-89 Days Past Due

 

$

462

 

$

286

 

$

265

 

$

234

 

$

213

 

$

193

 

$

179

 

As a % of EOP Loans

 

2.32

%

1.86

%

1.84

%

2.29

%

2.13

%

1.93

%

2.18

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - North America (3) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Branches (actual)

 

1,458

 

1,455

 

1,424

 

278

 

273

 

272

 

272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions of dollars)

 

$

80.8

 

$

77.1

 

$

73.9

 

$

68.9

 

$

55.5

 

$

52.7

 

$

49.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EOP Loans (in billions of dollars)

 

$

78.5

 

$

74.9

 

$

70.8

 

$

56.6

 

$

54.2

 

$

50.7

 

$

40.5

 

Net Interest Revenue

 

$

859

 

$

860

 

$

860

 

$

823

 

$

775

 

$

766

 

$

522

 

As a % of Average Loans

 

4.26

%

4.43

%

4.62

%

4.84

%

1.99

%

2.00

%

1.90

%

Net Credit Losses

 

$

356

 

$

369

 

$

359

 

$

363

 

$

193

 

$

166

 

$

141

 

As a % of Average Loans

 

1.77

%

1.90

%

1.93

%

2.14

%

1.39

%

1.25

%

1.13

%

Loans 90+ Days Past Due

 

$

2,470

 

$

2,093

 

$

1,963

 

$

1,607

 

$

1,462

 

$

1,354

 

$

770

 

As a % of EOP Loans

 

3.37

%

2.99

%

2.94

%

2.97

%

2.84

%

2.81

%

2.01

%

Loans 30-89 Days Past Due

 

$

2,174

 

$

1,978

 

$

1,663

 

$

1,197

 

$

1,153

 

$

1,230

 

$

857

 

As a % of EOP Loans

 

2.97

%

2.83

%

2.49

%

2.21

%

2.24

%

2.56

%

2.24

%

 

(1)                                 Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)                                 The first and second quarters of 2015 reflect the transfers of loans and branches to held-for-sale (HFS) as a result of the agreement in December 2014 to sell the Japan retail banking business (Japan Retail).  The first and second quarters of 2015 reflect the transfers of loans to HFS as a result of the agreement in March 2015 to sell the Japan cards business (Japan Cards). The second, third and fourth quarters of 2015 reflect the HFS reclassification of interest revenue on loans to other interest earning assets. The Japan Cards sale was completed on December 14, 2015.

(3)                                 The first, second and third quarters of 2015 reflect the transfers of loans and branches to HFS resulting from the agreement to sell OneMain. As a result of HFS accounting treatment, approximately $160 million, $131 million and $73 million of net credit losses (NCLs) were recorded as a reduction of revenue (Other revenue) during the second, third and fourth quarters of 2015, respectively. The second, third and fourth quarters of 2015 reflect the HFS reclassification of interest revenue on loans to other interest earning assets.

 

Reclassified to conform to the current period’s presentation.

 

20


 

CITI HOLDINGS
 CONSUMER KEY INDICATORS - Page 2
(In millions of dollars, except as otherwise noted)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITI HOLDINGS KEY INDICATORS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America Mortgages

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI (CitiMortgage)

 

$

66.0

 

$

62.6

 

$

59.6

 

$

56.8

 

$

54.8

 

$

52.7

 

$

50.8

 

$

48.4

 

$

46.3

 

$

42.6

 

$

38.1

 

$

36.3

 

$

35.0

 

$

33.3

 

CFNA (CitiFinancial - North America)

 

12.9

 

12.6

 

12.3

 

12.0

 

11.8

 

11.5

 

11.2

 

10.8

 

10.5

 

10.2

 

9.8

 

9.2

 

8.8

 

8.6

 

Residential First

 

78.9

 

75.2

 

71.9

 

68.8

 

66.6

 

64.2

 

62.0

 

59.2

 

56.8

 

52.8

 

47.9

 

45.5

 

43.8

 

41.9

 

Home Equity

 

45.3

 

43.4

 

42.1

 

40.8

 

39.5

 

37.9

 

36.6

 

34.9

 

33.5

 

32.0

 

30.6

 

29.3

 

28.2

 

27.4

 

Average Loans (in billions of dollars)

 

$

124.2

 

$

118.6

 

$

114.0

 

$

109.6

 

$

106.1

 

$

102.1

 

$

98.6

 

$

94.1

 

$

90.3

 

$

84.8

 

$

78.5

 

$

74.8

 

$

72.0

 

$

69.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

63.3

 

$

60.8

 

$

57.5

 

$

55.6

 

$

53.4

 

$

51.3

 

$

48.9

 

$

47.2

 

$

43.3

 

$

38.8

 

$

37.1

 

$

35.6

 

$

34.5

 

$

31.6

 

CFNA

 

12.7

 

12.4

 

12.1

 

11.9

 

11.6

 

11.3

 

11.0

 

10.5

 

10.2

 

9.8

 

9.4

 

9.0

 

8.7

 

8.4

 

Residential First

 

76.0

 

73.2

 

69.6

 

67.5

 

65.0

 

62.6

 

59.9

 

57.7

 

53.5

 

48.6

 

46.5

 

44.6

 

43.2

 

40.0

 

Home Equity

 

44.4

 

42.8

 

41.3

 

40.0

 

38.6

 

37.2

 

35.4

 

34.1

 

32.6

 

31.2

 

29.8

 

28.7

 

27.7

 

26.9

 

EOP Loans (in billions of dollars) (1)

 

$

120.4

 

$

116.0

 

$

110.9

 

$

107.5

 

$

103.6

 

$

99.8

 

$

95.3

 

$

91.8

 

$

86.1

 

$

79.8

 

$

76.3

 

$

73.3

 

$

70.9

 

$

66.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Party Mortgage Serv. Portfolio (EOP, in billions)

 

$

244.4

 

$

234.8

 

$

207.2

 

$

195.1

 

$

182.3

 

$

168.4

 

$

155.1

 

$

142.9

 

$

128.8

 

$

116.7

 

$

106.4

 

$

100.1

 

$

88.4

 

$

69.9

 

Net Servicing & Gain/(Loss) on Sale

 

$

53.4

 

$

(20.3

)

$

86.4

 

$

118.1

 

$

77.3

 

$

(124.2

)

$

81.3

 

$

77.6

 

$

78.8

 

$

98.7

 

$

25.1

 

$

53.5

 

$

27.2

 

$

34.6

 

Net Interest Revenue on Loans

 

$

437

 

$

373

 

$

424

 

$

367

 

$

385

 

$

407

 

$

434

 

$

423

 

$

457

 

$

422

 

$

437

 

$

451

 

$

464

 

$

439

 

As a % of Avg. Loans

 

1.43

%

1.26

%

1.48

%

1.33

%

1.46

%

1.60

%

1.75

%

1.79

%

2.05

%

2.00

%

2.21

%

2.39

%

2.61

%

2.54

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

456

 

$

337

 

$

328

 

$

299

 

$

623

 

$

294

 

$

461

 

$

215

 

$

188

 

$

152

 

$

81

 

$

111

 

$

95

 

$

1

 

CFNA

 

98

 

124

 

109

 

113

 

122

 

132

 

161

 

152

 

130

 

127

 

130

 

186

 

95

 

90

 

Residential First

 

$

554

 

$

461

 

$

437

 

$

412

 

$

745

 

$

426

 

$

622

 

$

367

 

$

318

 

$

279

 

$

211

 

$

297

 

$

190

 

$

91

 

Home Equity

 

713

 

627

 

542

 

533

 

561

 

448

 

863

 

355

 

312

 

274

 

212

 

269

 

140

 

114

 

Net Credit Losses (NCLs)

 

$

1,267

 

$

1,088

 

$

979

 

$

945

 

$

1,306

 

$

874

 

$

1,485

 

$

722

 

$

630

 

$

553

 

$

423

 

$

566

 

$

330

 

$

205

 

As a % of Avg. Loans

 

4.14

%

3.68

%

3.41

%

3.42

%

4.95

%

3.44

%

5.99

%

3.05

%

2.83

%

2.62

%

2.14

%

3.00

%

1.86

%

1.19

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

3,621

 

$

3,027

 

$

2,818

 

$

2,996

 

$

2,942

 

$

2,855

 

$

2,544

 

$

2,340

 

$

1,684

 

$

1,418

 

$

1,336

 

$

1,250

 

$

1,228

 

$

1,197

 

CFNA

 

827

 

797

 

876

 

935

 

936

 

919

 

895

 

774

 

770

 

688

 

592

 

522

 

539

 

546

 

Residential First

 

4,448

 

3,824

 

3,694

 

3,931

 

3,878

 

3,774

 

3,439

 

3,114

 

2,454

 

2,106

 

1,928

 

1,772

 

1,767

 

1,743

 

Home Equity

 

1,180

 

1,034

 

1,011

 

1,004

 

903

 

863

 

833

 

822

 

722

 

678

 

641

 

582

 

542

 

517

 

Loans 90+ Days Past Due (1) (2) (3) 

 

$

5,628

 

$

4,858

 

$

4,705

 

$

4,935

 

$

4,781

 

$

4,637

 

$

4,272

 

$

3,936

 

$

3,176

 

$

2,784

 

$

2,569

 

$

2,354

 

$

2,309

 

$

2,260

 

As a % of EOP Loans

 

5.09

%

4.57

%

4.64

%

5.02

%

5.05

%

5.08

%

4.92

%

4.71

%

4.08

%

3.87

%

3.73

%

3.57

%

3.61

%

3.66

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

2,960

 

$

3,038

 

$

3,071

 

$

2,951

 

$

2,659

 

$

2,718

 

$

2,890

 

$

2,494

 

$

2,094

 

$

1,874

 

$

1,686

 

$

1,580

 

$

1,283

 

$

1,340

 

CFNA

 

335

 

406

 

419

 

436

 

365

 

416

 

436

 

417

 

317

 

338

 

329

 

304

 

294

 

302

 

Residential First

 

3,295

 

3,444

 

3,490

 

3,387

 

3,024

 

3,134

 

3,326

 

2,911

 

2,411

 

2,212

 

2,015

 

1,884

 

1,577

 

1,642

 

Home Equity

 

968

 

897

 

906

 

861

 

744

 

725

 

689

 

630

 

517

 

483

 

427

 

422

 

350

 

336

 

Loans 30-89 Days Past Due (1) (2) (3)

 

$

4,263

 

$

4,341

 

$

4,396

 

$

4,248

 

$

3,768

 

$

3,859

 

$

4,015

 

$

3,541

 

$

2,928

 

$

2,695

 

$

2,442

 

$

2,306

 

$

1,927

 

$

1,978

 

As a % of EOP Loans

 

3.85

%

4.08

%

4.33

%

4.32

%

3.98

%

4.23

%

4.62

%

4.24

%

3.76

%

3.74

%

3.55

%

3.49

%

3.02

%

3.21

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America Personal Loans (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions of dollars)

 

$

12.1

 

$

11.6

 

$

11.3

 

$

11.0

 

$

10.7

 

$

10.3

 

$

10.2

 

$

10.0

 

$

9.7

 

$

9.0

 

$

9.2

 

$

9.2

 

$

9.2

 

$

9.1

 

EOP Loans (in billions of dollars)

 

$

11.7

 

$

11.5

 

$

11.1

 

$

10.9

 

$

10.4

 

$

10.2

 

$

10.1

 

$

10.0

 

$

9.0

 

$

9.0

 

$

9.3

 

$

9.3

 

$

9.0

 

$

9.2

 

Net Interest Revenue

 

$

512

 

$

522

 

$

523

 

$

520

 

$

500

 

$

490

 

$

502

 

$

504

 

$

513

 

$

522

 

$

520

 

$

518

 

$

513

 

$

518

 

As a % of Avg. Loans

 

17.16

%

18.05

%

18.36

%

18.75

%

18.79

%

19.13

%

19.58

%

20.05

%

21.45

%

23.26

%

22.42

%

22.34

%

22.61

%

22.83

%

Net Credit Losses

 

$

383

 

$

314

 

$

246

 

$

236

 

$

226

 

$

208

 

$

183

 

$

172

 

$

186

 

$

157

 

$

127

 

$

134

 

$

140

 

$

143

 

As a % of Avg. Loans

 

12.84

%

10.86

%

8.64

%

8.51

%

8.50

%

8.12

%

7.14

%

6.84

%

7.78

%

7.00

%

5.48

%

5.78

%

6.17

%

6.30

%

Loans 90+ Days Past Due

 

$

440

 

$

349

 

$

351

 

$

354

 

$

320

 

$

266

 

$

283

 

$

290

 

$

218

 

$

181

 

$

199

 

$

221

 

$

218

 

$

194

 

As a % of EOP Loans

 

3.76

%

3.03

%

3.16

%

3.25

%

3.08

%

2.61

%

2.80

%

2.90

%

2.42

%

2.01

%

2.14

%

2.38

%

2.42

%

2.11

%

Loans 30-89 Days Past Due

 

$

243

 

$

251

 

$

247

 

$

239

 

$

179

 

$

200

 

$

206

 

$

204

 

$

125

 

$

139

 

$

159

 

$

161

 

$

125

 

$

155

 

As a % of EOP Loans

 

2.08

%

2.18

%

2.23

%

2.19

%

1.72

%

1.96

%

2.04

%

2.04

%

1.39

%

1.54

%

1.71

%

1.73

%

1.39

%

1.68

%

 

(1)                                 The fourth quarter of 2015 reflects the transfer of approximately $8 billion of mortgage loans to Loans, held-for-sale (HFS) (included within Other assets on the GAAP balance sheet).  Delinquencies and related ratios are not included for Loans HFS.

 

(2)                                 The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

 

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) for each period were $2.2 billion and ($4.0 billion), $1.8 billion and ($2.5 billion), $1.7 billion and ($2.7 billion), $1.7 billion and ($2.6 billion), and $1.5 billion and ($2.2 billion), as of  December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) for each period were $0.5 billion and ($4.0 billion), $0.2 billion and ($2.5 billion), $0.3 billion and ($2.7 billion), $0.3 billion and ($2.6 billion), and $0.2 billion and ($2.2 billion), as of  December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

(3)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

 

(4)                                 See footnote 3 on page 24.

 

N/A                          Not applicable for the second, third and fourth quarters of 2015 as a result of the loans related to the announced sale of OneMain being reclassified from loans to assets held-for-sale (Other assets).

 

Reclassified to conform to the current period’s presentation.


 

CITI HOLDINGS
CONSUMER KEY INDICATORS - Page 2
(In millions of dollars, except as otherwise noted)

 

 

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITI HOLDINGS KEY INDICATORS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America Mortgages

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI (CitiMortgage)

 

$

30.9

 

$

29.1

 

$

25.9

 

$

22.4

 

$

21.4

 

$

20.1

 

CFNA (CitiFinancial - North America)

 

8.3

 

7.9

 

7.3

 

6.8

 

6.4

 

5.6

 

Residential First

 

39.2

 

37.0

 

33.2

 

29.2

 

27.8

 

25.7

 

Home Equity

 

26.4

 

25.3

 

24.4

 

23.3

 

22.0

 

21.0

 

Average Loans (in billions of dollars)

 

$

65.6

 

$

62.3

 

$

57.6

 

$

52.5

 

$

49.8

 

$

46.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

29.4

 

$

26.9

 

$

22.8

 

$

22.1

 

$

20.6

 

$

18.5

 

CFNA

 

8.1

 

7.5

 

7.0

 

6.5

 

5.8

 

0.2

 

Residential First

 

37.5

 

34.4

 

29.8

 

28.6

 

26.4

 

18.7

 

Home Equity

 

25.9

 

24.9

 

23.8

 

22.7

 

21.5

 

19.1

 

EOP Loans (in billions of dollars) (1)

 

$

63.4

 

$

59.3

 

$

53.6

 

$

51.3

 

$

47.9

 

$

37.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Party Mortgage Serv. Portfolio (EOP, in billions)

 

$

56.0

 

$

47.4

 

$

43.4

 

$

39.2

 

$

36.4

 

$

34.0

 

Net Servicing & Gain/(Loss) on Sale

 

$

81.5

 

$

96.8

 

$

96.2

 

$

61.3

 

$

49.6

 

$

5.0

 

Net Interest Revenue on Loans

 

$

419

 

$

413

 

$

339

 

$

290

 

$

274

 

$

239

 

As a % of Avg. Loans

 

2.53

%

2.63

%

2.39

%

2.22

%

2.18

%

2.03

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

54

 

$

26

 

$

22

 

$

21

 

$

9

 

$

9

 

CFNA

 

83

 

91

 

81

 

80

 

75

 

56

 

Residential First

 

$

137

 

$

117

 

$

103

 

$

101

 

$

84

 

$

65

 

Home Equity

 

98

 

87

 

81

 

70

 

61

 

56

 

Net Credit Losses (NCLs)

 

$

235

 

$

204

 

$

184

 

$

171

 

$

145

 

$

121

 

As a % of Avg. Loans

 

1.42

%

1.30

%

1.30

%

1.31

%

1.16

%

1.03

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

802

 

$

642

 

$

589

 

$

510

 

$

489

 

$

319

 

CFNA

 

543

 

543

 

500

 

463

 

392

 

4

 

Residential First

 

1,345

 

1,185

 

1,089

 

973

 

881

 

323

 

Home Equity

 

503

 

500

 

484

 

458

 

441

 

417

 

Loans 90+ Days Past Due (1) (2) (3) 

 

$

1,848

 

$

1,685

 

$

1,573

 

$

1,431

 

$

1,322

 

$

740

 

As a % of EOP Loans

 

3.16

%

3.05

%

3.08

%

2.94

%

2.92

%

2.08

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CMI

 

$

1,125

 

$

831

 

$

654

 

$

609

 

$

666

 

$

537

 

CFNA

 

300

 

292

 

225

 

221

 

205

 

2

 

Residential First

 

1,425

 

1,123

 

879

 

830

 

871

 

539

 

Home Equity

 

334

 

324

 

269

 

275

 

311

 

271

 

Loans 30-89 Days Past Due (1) (2) (3)

 

$

1,759

 

$

1,447

 

$

1,148

 

$

1,105

 

$

1,182

 

$

810

 

As a % of EOP Loans

 

3.01

%

2.62

%

2.25

%

2.27

%

2.61

%

2.28

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America Personal Loans (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Loans (in billions of dollars)

 

$

9.2

 

$

9.3

 

$

9.1

 

$

0.8

 

$

0.8

 

$

0.7

 

EOP Loans (in billions of dollars)

 

$

9.3

 

$

9.4

 

$

0.8

 

$

0.9

 

$

0.9

 

$

0.9

 

Net Interest Revenue

 

$

532

 

$

534

 

$

500

 

$

507

 

$

505

 

$

279

 

As a % of Avg. Loans

 

22.94

%

22.78

%

22.28

%

N/A

 

N/A

 

N/A

 

Net Credit Losses

 

$

129

 

$

154

 

$

174

 

$

17

 

$

15

 

$

14

 

As a % of Avg. Loans

 

5.56

%

6.57

%

7.75

%

8.52

%

7.44

%

7.93

%

Loans 90+ Days Past Due

 

$

227

 

$

264

 

$

21

 

$

20

 

$

19

 

$

18

 

As a % of EOP Loans

 

2.44

%

2.81

%

2.63

%

2.22

%

2.11

%

2.00

%

Loans 30-89 Days Past Due

 

$

178

 

$

180

 

$

16

 

$

17

 

$

15

 

$

14

 

As a % of EOP Loans

 

1.91

%

1.91

%

2.00

%

1.89

%

1.67

%

1.56

%

 

(1)                                 The fourth quarter of 2015 reflects the transfer of approximately $8 billion of mortgage loans to Loans, held-for-sale (HFS) (included within Other assets on the GAAP balance sheet).  Delinquencies and related ratios are not included for Loans HFS.

 

(2)                                 The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

 

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) for each period were $2.2 billion and ($4.0 billion), $1.8 billion and ($2.5 billion), $1.7 billion and ($2.7 billion), $1.7 billion and ($2.6 billion), and $1.5 billion and ($2.2 billion), as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) for each period were $0.5 billion and ($4.0 billion), $0.2 billion and ($2.5 billion), $0.3 billion and ($2.7 billion), $0.3 billion and ($2.6 billion), and $0.2 billion and ($2.2 billion), as of December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively.

 

(3)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

 

(4)                                 See footnote 3 on page 24.

 

N/A                          Not applicable for the second, third and fourth quarters of 2015 as a result of the loans related to the announced sale of OneMain being reclassified from loans to assets held-for-sale (Other assets).

 

Reclassified to conform to the current period’s presentation.

 

21


 

AVERAGE BALANCES AND INTEREST RATES (1)(2)(3)(4)(5)
Taxable Equivalent Basis

 

 

 

 

Average Volumes

 

Interest

 

% Average Rate (4)

 

 

 

Fourth

 

Third

 

Fourth

 

Fourth

 

Third

 

Fourth

 

Fourth

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

In millions of dollars, except as otherwise noted

 

2014

 

2015

 

2015

 

2014

 

2015

 

2015

 

2014

 

2015

 

2015

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with Banks

 

$

150,534

 

$

139,349

 

$

121,995

 

$

222

 

$

187

 

$

189

 

0.59

%

0.53

%

0.61

%

Fed Funds Sold and Resale Agreements (6)

 

250,770

 

233,831

 

226,413

 

613

 

656

 

554

 

0.97

%

1.11

%

0.97

%

Trading Account Assets (7) 

 

232,367

 

210,187

 

203,915

 

1,489

 

1,531

 

1,465

 

2.54

%

2.89

%

2.85

%

Investments

 

331,036

 

335,123

 

343,999

 

1,892

 

1,802

 

1,900

 

2.27

%

2.13

%

2.19

%

Total Loans (net of Unearned Income) (8)

 

650,819

 

623,205

 

624,947

 

11,053

 

9,995

 

9,975

 

6.74

%

6.36

%

6.33

%

Other Interest-Earning Assets

 

44,816

 

60,459

 

51,623

 

115

 

661

 

408

 

1.02

%

4.34

%

3.14

%

Total Average Interest-Earning Assets

 

$

1,660,342

 

$

1,602,154

 

$

1,572,892

 

$

15,384

 

$

14,832

 

$

14,491

 

3.68

%

3.67

%

3.66

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits (excluding deposit insurance and FDIC Assessment)

 

$

738,612

 

$

696,882

 

$

696,444

 

$

1,085

 

$

951

 

$

954

 

0.58

%

0.54

%

0.54

%

Deposit Insurance and FDIC Assessment

 

—

 

—

 

—

 

272

 

264

 

269

 

 

 

 

 

 

 

Total Deposits

 

738,612

 

696,882

 

696,444

 

1,357

 

1,215

 

1,223

 

0.73

%

0.69

%

0.70

%

Fed Funds Purchased and Repurchase Agreements (6)

 

187,434

 

174,245

 

163,290

 

422

 

379

 

416

 

0.89

%

0.86

%

1.01

%

Trading Account Liabilities (7)

 

72,055

 

70,470

 

63,202

 

41

 

57

 

58

 

0.23

%

0.32

%

0.36

%

Short-Term Borrowings

 

118,033

 

132,021

 

89,979

 

140

 

159

 

86

 

0.47

%

0.48

%

0.38

%

Long-Term Debt (9)

 

201,678

 

187,636

 

185,947

 

1,199

 

1,131

 

1,117

 

2.36

%

2.39

%

2.38

%

Total Average Interest-Bearing Liabilities

 

$

1,317,812

 

$

1,261,254

 

$

1,198,862

 

$

3,159

 

$

2,941

 

$

2,900

 

0.95

%

0.93

%

0.96

%

Total Average Interest-Bearing Liabilities (excluding deposit insurance and FDIC Assessment)

 

$

1,317,812

 

$

1,261,254

 

$

1,198,862

 

$

2,887

 

$

2,677

 

$

2,631

 

0.87

%

0.84

%

0.87

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Revenue as a % of Average Interest-Earning Assets (NIM)

 

 

 

 

 

 

 

$

12,225

 

$

11,891

 

$

11,591

 

2.92

%

2.94

%

2.92

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NIR as a % of Average Interest-Earning Assets (NIM) (excluding deposit insurance and FDIC Assessment)

 

 

 

 

 

 

 

$

12,497

 

$

12,155

 

$

11,860

 

2.99

%

3.01

%

2.99

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4Q15 Increase (Decrease) From

 

 

 

 

 

 

 

 

 

 

 

 

 

—

bps

(2

)bps

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4Q15 Increase (Decrease) (excluding deposit insurance and FDIC Assessment) From

 

 

 

 

 

 

 

 

 

 

 

 

 

—

bps

(2

)bps

 

 

 

(1)                                 Interest Revenue includes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $125 million for the fourth quarter of 2014, $118 million for the third quarter of 2015 and $126 million for the fourth quarter of 2015.

(2)                                 Citigroup average balances and interest rates include both domestic and international operations.

(3)                                 Monthly averages have been used by certain subsidiaries where daily averages are unavailable.

(4)                                 Average rate % is calculated as annualized interest over average volumes.

(5)                                 Not used.

(6)                                 Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of FIN 41.

(7)                                 Interest expense on trading account liabilities of ICG is reported as a reduction of interest revenue.  Interest revenue and interest expense on cash collateral positions are reported in trading account assets and trading account liabilities, respectively.

(8)                                 Nonperforming loans are included in the average loan balances.

(9)                                 Excludes hybrid financial instruments with changes recorded in Principal Transactions.

Reclassified to conform to the current period’s presentation.

 

22


 

DEPOSITS
(In billions of dollars)

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp Deposits by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

153.3

 

$

152.0

 

$

155.5

 

$

156.9

 

$

161.5

 

$

161.4

 

$

164.9

 

$

173.4

 

$

175.4

 

$

174.5

 

$

177.5

 

$

178.9

 

$

181.4

 

Latin America

 

31.2

 

30.9

 

26.3

 

27.8

 

28.5

 

28.8

 

30.5

 

31.7

 

31.7

 

29.2

 

29.8

 

31.4

 

32.1

 

Asia (1)

 

94.4

 

96.5

 

92.1

 

92.7

 

95.0

 

96.0

 

96.5

 

94.9

 

93.1

 

87.9

 

87.6

 

88.9

 

90.7

 

Total

 

$

278.9

 

$

279.4

 

$

273.9

 

$

277.4

 

$

285.0

 

$

286.2

 

$

291.9

 

$

300.0

 

$

300.2

 

$

291.6

 

$

294.9

 

$

299.2

 

$

304.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

131.7

 

$

132.1

 

$

134.1

 

$

150.9

 

$

163.2

 

$

157.5

 

$

148.0

 

$

144.5

 

$

147.2

 

$

150.3

 

$

165.7

 

$

177.1

 

$

178.6

 

EMEA

 

154.0

 

151.6

 

146.5

 

150.3

 

157.3

 

160.0

 

175.4

 

171.2

 

173.1

 

174.0

 

181.9

 

185.6

 

184.7

 

Latin America

 

47.8

 

49.1

 

48.8

 

50.2

 

50.7

 

49.9

 

60.1

 

55.5

 

57.3

 

58.3

 

64.1

 

61.1

 

66.6

 

Asia

 

136.5

 

139.6

 

137.3

 

133.4

 

144.3

 

151.7

 

154.8

 

146.8

 

141.3

 

144.4

 

148.2

 

145.4

 

138.7

 

Total

 

$

470.0

 

$

472.4

 

$

466.7

 

$

484.8

 

$

515.5

 

$

519.1

 

$

538.3

 

$

518.0

 

$

518.9

 

$

527.0

 

$

559.9

 

$

569.2

 

$

568.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/Other

 

$

4.6

 

$

4.6

 

$

4.0

 

$

3.8

 

$

3.3

 

$

6.6

 

$

2.7

 

$

2.1

 

$

8.8

 

$

15.2

 

$

18.2

 

$

26.1

 

$

26.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp

 

$

753.5

 

$

756.4

 

$

744.6

 

$

766.0

 

$

803.8

 

$

811.9

 

$

832.9

 

$

820.1

 

$

827.9

 

$

833.8

 

$

873.0

 

$

894.5

 

$

899.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (2)

 

$

112.4

 

$

109.9

 

$

106.7

 

$

99.9

 

$

102.2

 

$

102.4

 

$

111.7

 

$

110.5

 

$

105.9

 

$

104.6

 

$

82.5

 

$

73.8

 

$

67.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Deposits - EOP

 

$

865.9

 

$

866.3

 

$

851.3

 

$

865.9

 

$

906.0

 

$

914.3

 

$

944.6

 

$

930.6

 

$

933.8

 

$

938.4

 

$

955.5

 

$

968.3

 

$

966.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Deposits - Average

 

$

853.0

 

$

868.1

 

$

860.5

 

$

857.0

 

$

869.1

 

$

893.4

 

$

921.2

 

$

928.9

 

$

920.4

 

$

924.5

 

$

922.1

 

$

956.4

 

$

957.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup EOP Deposits - as Reported

 

$

865.9

 

$

866.3

 

$

851.3

 

$

865.9

 

$

906.0

 

$

914.3

 

$

944.6

 

$

930.6

 

$

933.8

 

$

938.4

 

$

955.5

 

$

968.3

 

$

966.3

 

Impact of FX Translation (3)

 

(81.8

)

(84.9

)

(63.5

)

(59.0

)

(69.4

)

(59.7

)

(70.1

)

(69.0

)

(63.0

)

(53.0

)

(59.1

)

(58.4

)

(56.2

)

Total Citigroup EOP Deposits - Ex-FX (4)

 

$

784.1

 

$

781.4

 

$

787.8

 

$

806.9

 

$

836.6

 

$

854.6

 

$

874.5

 

$

861.6

 

$

870.8

 

$

885.4

 

$

896.4

 

$

909.9

 

$

910.1

 

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 See footnote 4 on page 1.

(3)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(4)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.


 

DEPOSITS
(In billions of dollars)

 

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp Deposits by Business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

179.4

 

$

180.6

 

$

180.2

 

$

181.6

 

$

182.5

 

$

180.0

 

$

181.6

 

Latin America

 

32.4

 

30.5

 

30.7

 

29.0

 

29.1

 

26.2

 

28.7

 

Asia (1)

 

92.9

 

90.3

 

89.0

 

89.5

 

89.4

 

87.0

 

87.6

 

Total

 

$

304.7

 

$

301.4

 

$

299.9

 

$

300.1

 

$

301.0

 

$

293.2

 

$

297.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

175.3

 

$

176.7

 

$

192.2

 

$

195.2

 

$

197.5

 

$

200.0

 

$

198.5

 

EMEA

 

186.2

 

179.4

 

164.2

 

166.0

 

177.2

 

173.3

 

170.6

 

Latin America

 

65.5

 

62.4

 

57.5

 

62.6

 

63.9

 

62.6

 

64.3

 

Asia

 

144.9

 

144.5

 

141.6

 

147.5

 

149.7

 

159.2

 

154.3

 

Total

 

$

571.9

 

$

563.0

 

$

555.5

 

$

571.3

 

$

588.3

 

$

595.1

 

$

587.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate/Other

 

$

31.4

 

$

29.0

 

$

22.7

 

$

12.3

 

$

7.0

 

$

5.3

 

$

12.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp

 

$

908.0

 

$

893.4

 

$

878.1

 

$

883.7

 

$

896.3

 

$

893.6

 

$

897.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings (2)

 

$

57.7

 

$

49.3

 

$

21.2

 

$

15.9

 

$

11.7

 

$

10.6

 

$

10.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Deposits - EOP

 

$

965.7

 

$

942.7

 

$

899.3

 

$

899.6

 

$

908.0

 

$

904.2

 

$

907.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Deposits - Average

 

$

959.5

 

$

954.2

 

$

938.7

 

$

899.5

 

$

906.4

 

$

903.1

 

$

908.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup EOP Deposits - as Reported

 

$

965.7

 

$

942.7

 

$

899.3

 

$

899.6

 

$

908.0

 

$

904.2

 

$

907.9

 

Impact of FX Translation (3)

 

(60.2

)

(43.5

)

(28.1

)

(14.5

)

(16.7

)

(3.4

)

—

 

Total Citigroup EOP Deposits - Ex-FX (4)

 

$

905.5

 

$

899.2

 

$

871.2

 

$

885.1

 

$

891.3

 

$

900.8

 

$

907.9

 

 

(1)                             For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                             See footnote 4 on page 1.

(3)                             Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(4)                             Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

23


 

EOP LOANS (1) - Page 1

CITICORP

(In billions of dollars)

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

111.9

 

$

113.3

 

$

113.0

 

$

117.1

 

$

109.4

 

$

109.3

 

$

108.8

 

$

111.5

 

$

104.6

 

$

105.3

 

$

111.8

 

$

116.8

 

$

109.1

 

Retail Banking

 

33.0

 

34.6

 

36.5

 

39.0

 

40.6

 

40.9

 

41.5

 

42.7

 

43.2

 

41.8

 

43.3

 

44.3

 

45.2

 

Total

 

$

144.9

 

$

147.9

 

$

149.5

 

$

156.1

 

$

150.0

 

$

150.2

 

$

150.3

 

$

154.2

 

$

147.8

 

$

147.1

 

$

155.1

 

$

161.1

 

$

154.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

5.6

 

$

5.8

 

$

5.2

 

$

5.5

 

$

6.0

 

$

5.9

 

$

6.3

 

$

6.6

 

$

7.1

 

$

7.0

 

$

7.1

 

$

7.4

 

$

7.2

 

Retail Banking

 

16.6

 

17.6

 

16.1

 

17.9

 

19.8

 

19.6

 

21.0

 

21.7

 

23.4

 

22.8

 

22.2

 

23.5

 

23.5

 

Total

 

$

22.2

 

$

23.4

 

$

21.3

 

$

23.4

 

$

25.8

 

$

25.5

 

$

27.3

 

$

28.3

 

$

30.5

 

$

29.8

 

$

29.3

 

$

30.9

 

$

30.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asia (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

19.6

 

$

20.3

 

$

19.0

 

$

19.7

 

$

19.9

 

$

19.7

 

$

20.1

 

$

20.8

 

$

20.0

 

$

19.5

 

$

18.8

 

$

19.3

 

$

18.8

 

Retail Banking

 

64.4

 

66.9

 

65.1

 

66.7

 

68.5

 

67.4

 

69.3

 

69.9

 

69.8

 

69.1

 

70.8

 

72.3

 

74.3

 

Total

 

$

84.0

 

$

87.2

 

$

84.1

 

$

86.4

 

$

88.4

 

$

87.1

 

$

89.4

 

$

90.7

 

$

89.8

 

$

88.6

 

$

89.6

 

$

91.6

 

$

93.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Consumer Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

137.1

 

$

139.4

 

$

137.2

 

$

142.3

 

$

135.3

 

$

134.9

 

$

135.2

 

$

138.9

 

$

131.7

 

$

131.8

 

$

137.7

 

$

143.5

 

$

135.1

 

Retail Banking

 

114.0

 

119.1

 

117.7

 

123.6

 

128.9

 

127.9

 

131.8

 

134.3

 

136.4

 

133.7

 

136.3

 

140.1

 

143.0

 

Total Consumer

 

$

251.1

 

$

258.5

 

$

254.9

 

$

265.9

 

$

264.2

 

$

262.8

 

$

267.0

 

$

273.2

 

$

268.1

 

$

265.5

 

$

274.0

 

$

283.6

 

$

278.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Corporate Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

75.6

 

$

72.7

 

$

70.3

 

$

77.9

 

$

78.4

 

$

86.8

 

$

92.0

 

$

92.1

 

$

90.6

 

$

98.7

 

$

102.4

 

$

105.1

 

$

106.1

 

EMEA

 

41.3

 

51.4

 

50.4

 

52.1

 

54.1

 

59.5

 

57.3

 

55.8

 

60.3

 

59.6

 

61.3

 

61.6

 

64.4

 

Latin America

 

28.5

 

30.7

 

32.8

 

33.6

 

35.4

 

35.0

 

37.7

 

38.8

 

38.9

 

38.6

 

40.4

 

41.0

 

42.6

 

Asia

 

43.1

 

47.5

 

56.3

 

58.0

 

62.9

 

64.3

 

63.6

 

60.7

 

62.6

 

66.4

 

67.9

 

66.5

 

69.3

 

Total Corporate Loans

 

$

188.5

 

$

202.3

 

$

209.8

 

$

221.6

 

$

230.8

 

$

245.6

 

$

250.6

 

$

247.4

 

$

252.4

 

$

263.3

 

$

272.0

 

$

274.2

 

$

282.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp

 

$

439.6

 

$

460.8

 

$

464.7

 

$

487.5

 

$

495.0

 

$

508.4

 

$

517.6

 

$

520.6

 

$

520.5

 

$

528.8

 

$

546.0

 

$

557.8

 

$

560.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp EOP Loans - as Reported

 

$

439.6

 

$

460.8

 

$

464.7

 

$

487.5

 

$

495.0

 

$

508.4

 

$

517.6

 

$

520.6

 

$

520.5

 

$

528.8

 

$

546.0

 

$

557.8

 

$

560.5

 

Impact of FX Translation (2)

 

(33.1

)

(37.4

)

(26.2

)

(25.3

)

(30.7

)

(26.8

)

(34.1

)

(34.7

)

(33.9

)

(27.7

)

(29.8

)

(30.4

)

(30.4

)

Total Citicorp EOP Loans - Ex-FX (3)

 

$

406.5

 

$

423.4

 

$

438.5

 

$

462.2

 

$

464.3

 

$

481.6

 

$

483.5

 

$

485.9

 

$

486.6

 

$

501.1

 

$

516.2

 

$

527.4

 

$

530.1

 

 

Note:  Certain small balance consumer loans included in the above lines are classified as Corporate Loans on the Consolidated Balance Sheet.

 

(1)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.


 

EOP LOANS (1) - Page 1

CITICORP

(In billions of dollars)

 

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

110.4

 

$

109.5

 

$

114.0

 

$

105.9

 

$

107.7

 

$

107.9

 

$

113.3

 

Retail Banking

 

46.4

 

47.8

 

47.1

 

48.1

 

49.2

 

51.0

 

52.2

 

Total

 

$

156.8

 

$

157.3

 

$

161.1

 

$

154.0

 

$

156.9

 

$

158.9

 

$

165.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

7.4

 

$

7.3

 

$

6.7

 

$

6.1

 

$

5.9

 

$

5.4

 

$

5.4

 

Retail Banking

 

23.8

 

23.1

 

21.3

 

21.1

 

21.1

 

19.8

 

20.1

 

Total

 

$

31.2

 

$

30.4

 

$

28.0

 

$

27.2

 

$

27.0

 

$

25.2

 

$

25.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asia (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

19.6

 

$

18.9

 

$

18.6

 

$

17.8

 

$

18.1

 

$

17.0

 

$

17.6

 

Retail Banking

 

76.6

 

75.3

 

73.3

 

71.8

 

72.4

 

68.6

 

68.4

 

Total

 

$

96.2

 

$

94.2

 

$

91.9

 

$

89.6

 

$

90.5

 

$

85.6

 

$

86.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Consumer Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

137.4

 

$

135.7

 

$

139.3

 

$

129.8

 

$

131.7

 

$

130.3

 

$

136.3

 

Retail Banking

 

146.8

 

146.2

 

141.7

 

141.0

 

142.7

 

139.4

 

140.7

 

Total Consumer

 

$

284.2

 

$

281.9

 

$

281.0

 

$

270.8

 

$

274.4

 

$

269.7

 

$

277.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Corporate Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

107.8

 

$

113.5

 

$

116.5

 

$

118.3

 

$

125.9

 

$

127.8

 

$

126.8

 

EMEA

 

64.7

 

60.6

 

59.3

 

61.4

 

63.8

 

63.0

 

60.4

 

Latin America

 

42.4

 

40.2

 

39.7

 

40.6

 

41.1

 

41.4

 

43.6

 

Asia

 

71.6

 

66.6

 

62.9

 

62.8

 

62.8

 

60.8

 

60.8

 

Total Corporate Loans

 

$

286.5

 

$

280.9

 

$

278.4

 

$

283.1

 

$

293.6

 

$

293.0

 

$

291.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp

 

$

570.7

 

$

562.8

 

$

559.4

 

$

553.9

 

$

568.0

 

$

562.7

 

$

568.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp EOP Loans - as Reported

 

$

570.7

 

$

562.8

 

$

559.4

 

$

553.9

 

$

568.0

 

$

562.7

 

$

568.6

 

Impact of FX Translation (2)

 

(33.4

)

(25.8

)

(16.9

)

(10.5

)

(10.5

)

(1.3

)

—

 

Total Citicorp EOP Loans - Ex-FX (3)

 

$

537.3

 

$

537.0

 

$

542.5

 

$

543.4

 

$

557.5

 

$

561.4

 

$

568.6

 

 

Note:  Certain small balance consumer loans included in the above lines are classified as Corporate Loans on the Consolidated Balance Sheet.

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(2)           Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(3)           Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

24


 

EOP LOANS - Page 2

CITI HOLDINGS AND TOTAL CITIGROUP

(In billions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgages (1)

 

120.4

 

116.0

 

110.9

 

107.5

 

103.6

 

99.8

 

95.3

 

91.8

 

86.1

 

79.8

 

76.3

 

73.3

 

70.9

 

Personal Loans

 

11.7

 

11.5

 

11.1

 

10.9

 

10.4

 

10.2

 

10.1

 

10.0

 

9.0

 

9.0

 

9.3

 

9.3

 

9.0

 

Other

 

18.2

 

14.3

 

10.6

 

5.5

 

4.9

 

4.6

 

3.7

 

3.3

 

3.2

 

2.9

 

2.7

 

2.7

 

2.4

 

Total

 

$

150.3

 

$

141.8

 

$

132.6

 

$

123.9

 

$

118.9

 

$

114.6

 

$

109.1

 

$

105.1

 

$

98.3

 

$

91.7

 

$

88.3

 

$

85.3

 

$

82.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - International

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

13.8

 

$

14.6

 

$

13.7

 

$

13.6

 

$

13.5

 

$

13.1

 

$

9.5

 

$

9.3

 

$

8.8

 

$

5.2

 

$

8.3

 

$

8.3

 

$

8.7

 

REL, Personal & Other

 

19.1

 

20.4

 

19.3

 

16.2

 

15.9

 

15.0

 

18.3

 

17.3

 

16.1

 

15.8

 

12.9

 

12.4

 

11.4

 

Total

 

$

32.9

 

$

35.0

 

$

33.0

 

$

29.8

 

$

29.4

 

$

28.1

 

$

27.8

 

$

26.6

 

$

24.9

 

$

21.0

 

$

21.2

 

$

20.7

 

$

20.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Other

 

14.3

 

9.9

 

6.9

 

6.0

 

4.7

 

3.9

 

3.9

 

3.2

 

2.7

 

2.2

 

2.1

 

1.7

 

1.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings

 

$

197.5

 

$

186.7

 

$

172.5

 

$

159.7

 

$

153.0

 

$

146.6

 

$

140.8

 

$

134.9

 

$

125.9

 

$

114.9

 

$

111.6

 

$

107.7

 

$

103.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup

 

$

637.1

 

$

647.5

 

$

637.2

 

$

647.2

 

$

648.0

 

$

655.0

 

$

658.4

 

$

655.5

 

$

646.4

 

$

643.7

 

$

657.6

 

$

665.5

 

$

664.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Loans

 

$

436.0

 

$

437.3

 

$

421.8

 

$

420.9

 

$

413.6

 

$

406.6

 

$

405.0

 

$

405.8

 

$

392.1

 

$

379.0

 

$

384.4

 

$

390.3

 

$

381.0

 

Corporate Loans

 

201.1

 

210.2

 

215.5

 

226.3

 

234.5

 

248.5

 

253.5

 

249.6

 

254.2

 

264.7

 

273.2

 

275.2

 

283.3

 

Total Citigroup

 

$

637.0

 

$

647.5

 

$

637.2

 

$

647.2

 

$

648.1

 

$

655.0

 

$

658.4

 

$

655.5

 

$

646.4

 

$

643.6

 

$

657.6

 

$

665.5

 

$

664.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup EOP Loans - as Reported

 

$

637.0

 

$

647.5

 

$

637.2

 

$

647.2

 

$

648.1

 

$

655.0

 

$

658.4

 

$

655.5

 

$

646.4

 

$

643.6

 

$

657.6

 

$

665.5

 

$

664.3

 

Impact of FX Translation (2)

 

(45.4

)

(50.3

)

(37.1

)

(35.1

)

(41.0

)

(35.3

)

(42.8

)

(42.9

)

(41.1

)

(32.6

)

(35.3

)

(35.3

)

(34.8

)

Total Citigroup EOP Loans - Ex-FX (3)

 

$

591.6

 

$

597.2

 

$

600.1

 

$

612.1

 

$

607.1

 

$

619.7

 

$

615.6

 

$

612.6

 

$

605.3

 

$

611.0

 

$

622.3

 

$

630.2

 

$

629.5

 

 

Note:  Certain small balance consumer loans included in the above lines are classified as Corporate Loans on the Consolidated Balance Sheet.

(1)                                 See footnote 1 on page 21.

(2)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.


 

EOP LOANS - Page 2

CITI HOLDINGS AND TOTAL CITIGROUP

(In billions of dollars)

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgages (1)

 

66.9

 

63.4

 

59.3

 

53.6

 

51.3

 

47.9

 

37.8

 

Personal Loans

 

9.2

 

9.3

 

9.4

 

0.8

 

0.9

 

0.9

 

0.9

 

Other

 

2.4

 

2.2

 

2.1

 

2.2

 

2.0

 

1.9

 

1.8

 

Total

 

$

78.5

 

$

74.9

 

$

70.8

 

$

56.6

 

$

54.2

 

$

50.7

 

$

40.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer - International

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

 

$

8.7

 

$

5.9

 

$

5.7

 

$

4.3

 

$

4.1

 

$

3.8

 

$

3.6

 

REL, Personal & Other

 

11.2

 

9.5

 

8.7

 

5.9

 

5.3

 

4.9

 

4.6

 

Total

 

$

19.9

 

$

15.4

 

$

14.4

 

$

10.2

 

$

9.4

 

$

8.7

 

$

8.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Other

 

(1.6

)

0.7

 

—

 

0.4

 

0.5

 

0.3

 

0.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings

 

$

96.8

 

$

91.0

 

$

85.2

 

$

67.2

 

$

64.1

 

$

59.7

 

$

49.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup

 

$

667.5

 

$

653.8

 

$

644.6

 

$

621.1

 

$

632.1

 

$

622.4

 

$

617.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Loans

 

$

380.4

 

$

372.4

 

$

365.9

 

$

337.7

 

$

338.2

 

$

329.2

 

$

325.8

 

Corporate Loans

 

287.1

 

281.4

 

278.7

 

283.3

 

293.9

 

293.2

 

291.8

 

Total Citigroup

 

$

667.5

 

$

653.8

 

$

644.6

 

$

621.1

 

$

632.1

 

$

622.4

 

$

617.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency (FX) Translation Impact:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup EOP Loans - as Reported

 

$

667.5

 

$

653.8

 

$

644.6

 

$

621.1

 

$

632.1

 

$

622.4

 

$

617.6

 

Impact of FX Translation (2)

 

(38.2

)

(28.8

)

(19.0

)

(11.6

)

(11.8

)

(1.6

)

—

 

Total Citigroup EOP Loans - Ex-FX (3)

 

$

629.3

 

$

625.0

 

$

625.6

 

$

609.5

 

$

620.3

 

$

620.8

 

$

617.6

 

 

Note:  Certain small balance consumer loans included in the above lines are classified as Corporate Loans on the Consolidated Balance Sheet.

(1)                                 See footnote 1 on page 21.

(2)                                 Reflects the impact of FX translation into U.S. Dollars at the fourth quarter of 2015 exchange rates for all periods presented.

(3)                                 Presentation of this metric excluding FX translation is a non-GAAP financial measure.

 

Reclassified to conform to the current period’s presentation.

 

25


 

SUPPLEMENTAL DETAIL

CONSUMER LOANS 90+ DAYS DELINQUENCY AMOUNTS AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions of dollars)

 

 

 

Loans 90+ Days Past Due (1)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

3,619

 

$

3,229

 

$

2,991

 

$

2,987

 

$

2,932

 

$

2,692

 

$

2,630

 

$

2,688

 

$

2,572

 

$

2,359

 

$

2,428

 

$

2,718

 

Ratio

 

1.45

%

1.25

%

1.18

%

1.13

%

1.12

%

1.03

%

0.99

%

0.99

%

0.96

%

0.89

%

0.89

%

0.96

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Bank (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

645

 

$

660

 

$

648

 

$

642

 

$

711

 

$

744

 

$

742

 

$

742

 

$

742

 

$

710

 

$

745

 

$

840

 

Ratio

 

0.57

%

0.56

%

0.56

%

0.52

%

0.56

%

0.59

%

0.57

%

0.56

%

0.55

%

0.54

%

0.55

%

0.60

%

North America (2)

 

$

241

 

$

211

 

$

232

 

$

235

 

$

260

 

$

294

 

$

291

 

$

280

 

$

282

 

$

285

 

$

277

 

$

257

 

Ratio

 

0.75

%

0.63

%

0.66

%

0.62

%

0.66

%

0.74

%

0.72

%

0.68

%

0.68

%

0.70

%

0.66

%

0.60

%

Latin America (3)

 

$

163

 

$

177

 

$

188

 

$

186

 

$

209

 

$

211

 

$

236

 

$

237

 

$

235

 

$

226

 

$

262

 

$

394

 

Ratio (3)

 

0.98

%

1.01

%

1.17

%

1.04

%

1.06

%

1.08

%

1.12

%

1.09

%

1.00

%

0.99

%

1.18

%

1.68

%

Asia (4)

 

$

241

 

$

272

 

$

228

 

$

221

 

$

242

 

$

239

 

$

215

 

$

225

 

$

225

 

$

199

 

$

206

 

$

189

 

Ratio

 

0.37

%

0.41

%

0.35

%

0.33

%

0.35

%

0.35

%

0.31

%

0.32

%

0.32

%

0.29

%

0.29

%

0.26

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

2,974

 

$

2,569

 

$

2,343

 

$

2,345

 

$

2,221

 

$

1,948

 

$

1,888

 

$

1,946

 

$

1,830

 

$

1,649

 

$

1,683

 

$

1,878

 

Ratio

 

2.17

%

1.84

%

1.71

%

1.65

%

1.64

%

1.44

%

1.40

%

1.40

%

1.39

%

1.25

%

1.22

%

1.31

%

North America - Citi-Branded

 

$

1,435

 

$

1,214

 

$

1,063

 

$

1,016

 

$

982

 

$

830

 

$

760

 

$

786

 

$

732

 

$

663

 

$

628

 

$

681

 

Ratio

 

1.93

%

1.62

%

1.42

%

1.32

%

1.35

%

1.14

%

1.05

%

1.08

%

1.06

%

0.96

%

0.91

%

0.97

%

North America - Retail Services

 

$

1,110

 

$

913

 

$

902

 

$

951

 

$

845

 

$

721

 

$

716

 

$

721

 

$

651

 

$

556

 

$

650

 

$

771

 

Ratio

 

2.97

%

2.38

%

2.38

%

2.38

%

2.30

%

1.97

%

1.96

%

1.87

%

1.84

%

1.54

%

1.51

%

1.67

%

Latin America

 

$

169

 

$

169

 

$

144

 

$

143

 

$

148

 

$

154

 

$

168

 

$

179

 

$

191

 

$

194

 

$

200

 

$

223

 

Ratio

 

3.02

%

2.91

%

2.77

%

2.60

%

2.47

%

2.61

%

2.67

%

2.71

%

2.69

%

2.77

%

2.82

%

3.01

%

Asia (4)

 

$

260

 

$

273

 

$

234

 

$

235

 

$

246

 

$

243

 

$

244

 

$

260

 

$

256

 

$

236

 

$

205

 

$

203

 

Ratio

 

1.33

%

1.34

%

1.23

%

1.19

%

1.24

%

1.23

%

1.21

%

1.25

%

1.28

%

1.21

%

1.09

%

1.05

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Consumer (2) (5) (6)

 

$

7,749

 

$

6,473

 

$

6,170

 

$

6,230

 

$

6,020

 

$

5,733

 

$

5,338

 

$

4,976

 

$

4,054

 

$

3,498

 

$

3,228

 

$

2,981

 

Ratio

 

4.47

%

3.87

%

3.95

%

4.31

%

4.32

%

4.28

%

4.15

%

4.03

%

3.53

%

3.33

%

3.16

%

3.02

%

International

 

$

987

 

$

958

 

$

862

 

$

802

 

$

800

 

$

742

 

$

730

 

$

709

 

$

626

 

$

506

 

$

435

 

$

388

 

Ratio

 

3.00

%

2.74

%

2.61

%

2.69

%

2.72

%

2.64

%

2.63

%

2.67

%

2.51

%

2.41

%

2.05

%

1.87

%

North America (2) (5) (6)

 

$

6,762

 

$

5,515

 

$

5,308

 

$

5,428

 

$

5,220

 

$

4,991

 

$

4,608

 

$

4,267

 

$

3,428

 

$

2,992

 

$

2,793

 

$

2,593

 

Ratio

 

4.81

%

4.17

%

4.31

%

4.73

%

4.75

%

4.71

%

4.58

%

4.41

%

3.80

%

3.57

%

3.46

%

3.32

%

Other (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup (2) (5) (6)

 

$

11,368

 

$

9,702

 

$

9,161

 

$

9,217

 

$

8,952

 

$

8,425

 

$

7,968

 

$

7,664

 

$

6,626

 

$

5,857

 

$

5,656

 

$

5,699

 

Ratio

 

2.69

%

2.29

%

2.24

%

2.25

%

2.23

%

2.13

%

2.02

%

1.94

%

1.74

%

1.59

%

1.51

%

1.50

%

 

(1)                                 The ratio of 90+ Days Past Due is calculated based on end-of-period loans, net of unearned income.

(2)                                 The 90+ Days Past Due and related ratios for North America Consumer Banking and Citi Holdings North America Mortgages excludes U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 1 on page 10 and footnote 2 on page 25.

(3)                                 See footnote 3 on page 8.

(4)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(5)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

(6)                                 See footnote 1 on page 21.

(7)                                 Represents loans classified as Consumer loans on the Consolidated Balance Sheet that are not included in the Citi Holdings Consumer credit metrics.

 

Reclassified to conform to the current period’s presentation.


 

SUPPLEMENTAL DETAIL

CONSUMER LOANS 90+ DAYS DELINQUENCY AMOUNTS AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions of dollars)

 

 

 

Loans 90+ Days Past Due (1)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

2,674

 

$

2,561

 

$

2,508

 

$

2,444

 

$

2,132

 

$

2,020

 

$

1,981

 

$

2,119

 

Ratio

 

0.97

%

0.90

%

0.89

%

0.87

%

0.79

%

0.74

%

0.74

%

0.77

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Bank (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

890

 

$

904

 

$

868

 

$

736

 

$

540

 

$

567

 

$

529

 

$

523

 

Ratio

 

0.63

%

0.62

%

0.60

%

0.52

%

0.39

%

0.40

%

0.38

%

0.37

%

North America (2)

 

$

243

 

$

227

 

$

229

 

$

225

 

$

123

 

$

150

 

$

138

 

$

165

 

Ratio

 

0.55

%

0.50

%

0.49

%

0.49

%

0.26

%

0.31

%

0.28

%

0.32

%

Latin America (3)

 

$

452

 

$

467

 

$

427

 

$

325

 

$

238

 

$

232

 

$

212

 

$

185

 

Ratio (3)

 

1.92

%

1.96

%

1.85

%

1.53

%

1.13

%

1.10

%

1.07

%

0.92

%

Asia (4)

 

$

195

 

$

210

 

$

212

 

$

186

 

$

179

 

$

185

 

$

179

 

$

173

 

Ratio

 

0.26

%

0.27

%

0.28

%

0.25

%

0.25

%

0.26

%

0.26

%

0.25

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

1,784

 

$

1,657

 

$

1,640

 

$

1,708

 

$

1,592

 

$

1,453

 

$

1,452

 

$

1,596

 

Ratio

 

1.32

%

1.21

%

1.21

%

1.23

%

1.23

%

1.10

%

1.11

%

1.17

%

North America - Citi-Branded

 

$

648

 

$

583

 

$

559

 

$

593

 

$

569

 

$

495

 

$

491

 

$

538

 

Ratio

 

0.97

%

0.87

%

0.84

%

0.88

%

0.90

%

0.77

%

0.76

%

0.80

%

North America - Retail Services

 

$

689

 

$

606

 

$

630

 

$

678

 

$

629

 

$

567

 

$

621

 

$

705

 

Ratio

 

1.63

%

1.41

%

1.47

%

1.46

%

1.48

%

1.31

%

1.44

%

1.53

%

Latin America

 

$

232

 

$

245

 

$

244

 

$

242

 

$

203

 

$

200

 

$

169

 

$

173

 

Ratio

 

3.22

%

3.31

%

3.34

%

3.61

%

3.33

%

3.39

%

3.13

%

3.20

%

Asia (4)

 

$

215

 

$

223

 

$

207

 

$

195

 

$

191

 

$

191

 

$

171

 

$

180

 

Ratio

 

1.14

%

1.14

%

1.10

%

1.05

%

1.07

%

1.06

%

1.01

%

1.02

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Consumer (2) (5) (6)

 

$

2,932

 

$

2,837

 

$

2,341

 

$

2,188

 

$

1,801

 

$

1,647

 

$

1,528

 

$

927

 

Ratio

 

3.07

%

3.04

%

2.74

%

2.69

%

2.80

%

2.70

%

2.69

%

1.99

%

International

 

$

388

 

$

367

 

$

248

 

$

225

 

$

194

 

$

185

 

$

174

 

$

157

 

Ratio

 

1.93

%

1.84

%

1.61

%

1.56

%

1.90

%

1.97

%

2.00

%

1.91

%

North America (2) (5) (6)

 

$

2,544

 

$

2,470

 

$

2,093

 

$

1,963

 

$

1,607

 

$

1,462

 

$

1,354

 

$

770

 

Ratio

 

3.38

%

3.37

%

2.99

%

2.94

%

2.97

%

2.84

%

2.81

%

2.01

%

Other (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup (2) (5) (6)

 

$

5,606

 

$

5,398

 

$

4,849

 

$

4,632

 

$

3,933

 

$

3,667

 

$

3,509

 

$

3,046

 

Ratio

 

1.51

%

1.43

%

1.32

%

1.28

%

1.18

%

1.10

%

1.08

%

0.94

%

 

(1)                                 The ratio of 90+ Days Past Due is calculated based on end-of-period loans, net of unearned income.

(2)                                 The 90+ Days Past Due and related ratios for North America Consumer Banking and Citi Holdings North America Mortgages excludes U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 1 on page 10 and footnote 2 on page 25.

(3)                                 See footnote 3 on page 8.

(4)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(5)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

(6)                                 See footnote 1 on page 21.

(7)                                 Represents loans classified as Consumer loans on the Consolidated Balance Sheet that are not included in the Citi Holdings Consumer credit metrics.

 

Reclassified to conform to the current period’s presentation.

 

26


 

SUPPLEMENTAL DETAIL

CONSUMER LOANS 30-89 DAYS DELINQUENCY AMOUNTS AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions of dollars)

 

 

 

Loans 30-89 Days Past Due (1)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

4,078

 

$

3,729

 

$

3,577

 

$

3,598

 

$

3,227

 

$

2,972

 

$

3,071

 

$

3,030

 

$

2,913

 

$

2,622

 

$

2,884

 

$

2,916

 

Ratio

 

1.63

%

1.45

%

1.41

%

1.36

%

1.23

%

1.14

%

1.16

%

1.11

%

1.09

%

0.99

%

1.06

%

1.03

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Bank (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

922

 

$

877

 

$

803

 

$

863

 

$

857

 

$

878

 

$

969

 

$

921

 

$

1,003

 

$

906

 

$

941

 

$

893

 

Ratio

 

0.82

%

0.74

%

0.69

%

0.71

%

0.67

%

0.69

%

0.74

%

0.69

%

0.74

%

0.68

%

0.70

%

0.64

%

North America (2)

 

$

185

 

$

209

 

$

218

 

$

213

 

$

183

 

$

215

 

$

230

 

$

223

 

$

226

 

$

217

 

$

209

 

$

205

 

Ratio

 

0.58

%

0.62

%

0.62

%

0.56

%

0.47

%

0.54

%

0.57

%

0.54

%

0.54

%

0.54

%

0.50

%

0.48

%

Latin America

 

$

205

 

$

186

 

$

175

 

$

191

 

$

227

 

$

215

 

$

293

 

$

236

 

$

303

 

$

250

 

$

338

 

$

294

 

Ratio

 

1.23

%

1.06

%

1.09

%

1.07

%

1.15

%

1.10

%

1.40

%

1.09

%

1.29

%

1.10

%

1.52

%

1.25

%

Asia (3)

 

$

532

 

$

482

 

$

410

 

$

459

 

$

447

 

$

448

 

$

446

 

$

462

 

$

474

 

$

439

 

$

394

 

$

394

 

Ratio

 

0.83

%

0.72

%

0.63

%

0.69

%

0.65

%

0.66

%

0.64

%

0.66

%

0.68

%

0.64

%

0.56

%

0.54

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

3,156

 

$

2,852

 

$

2,774

 

$

2,735

 

$

2,370

 

$

2,094

 

$

2,102

 

$

2,109

 

$

1,910

 

$

1,716

 

$

1,943

 

$

2,023

 

Ratio

 

2.30

%

2.05

%

2.02

%

1.92

%

1.75

%

1.55

%

1.55

%

1.52

%

1.45

%

1.30

%

1.41

%

1.41

%

North America - Citi-Branded

 

$

1,335

 

$

1,142

 

$

1,106

 

$

1,078

 

$

887

 

$

744

 

$

744

 

$

771

 

$

679

 

$

588

 

$

650

 

$

661

 

Ratio

 

1.79

%

1.52

%

1.47

%

1.40

%

1.22

%

1.02

%

1.03

%

1.06

%

0.98

%

0.85

%

0.94

%

0.94

%

North America - Retail Services

 

$

1,277

 

$

1,171

 

$

1,205

 

$

1,178

 

$

995

 

$

852

 

$

823

 

$

789

 

$

685

 

$

615

 

$

798

 

$

830

 

Ratio

 

3.41

%

3.06

%

3.18

%

2.95

%

2.71

%

2.33

%

2.25

%

2.04

%

1.94

%

1.71

%

1.86

%

1.79

%

Latin America

 

$

154

 

$

158

 

$

135

 

$

129

 

$

135

 

$

151

 

$

165

 

$

179

 

$

188

 

$

194

 

$

211

 

$

237

 

Ratio

 

2.75

%

2.72

%

2.60

%

2.35

%

2.25

%

2.56

%

2.62

%

2.71

%

2.65

%

2.77

%

2.97

%

3.20

%

Asia (3)

 

$

390

 

$

381

 

$

328

 

$

350

 

$

353

 

$

347

 

$

370

 

$

370

 

$

358

 

$

319

 

$

284

 

$

295

 

Ratio

 

1.99

%

1.88

%

1.73

%

1.78

%

1.77

%

1.76

%

1.84

%

1.78

%

1.79

%

1.64

%

1.51

%

1.53

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Consumer (2) (4) (5)

 

$

6,831

 

$

6,662

 

$

6,456

 

$

5,615

 

$

5,071

 

$

5,069

 

$

5,199

 

$

4,684

 

$

3,870

 

$

3,482

 

$

3,180

 

$

3,022

 

Ratio

 

3.94

%

3.99

%

4.13

%

3.89

%

3.64

%

3.78

%

4.05

%

3.80

%

3.37

%

3.32

%

3.12

%

3.06

%

International

 

$

1,371

 

$

1,281

 

$

1,138

 

$

971

 

$

997

 

$

908

 

$

882

 

$

849

 

$

749

 

$

586

 

$

520

 

$

498

 

Ratio

 

4.17

%

3.66

%

3.45

%

3.26

%

3.39

%

3.23

%

3.17

%

3.19

%

3.01

%

2.79

%

2.45

%

2.41

%

North America (2) (4) (5)

 

$

5,460

 

$

5,381

 

$

5,318

 

$

4,644

 

$

4,074

 

$

4,161

 

$

4,317

 

$

3,835

 

$

3,121

 

$

2,896

 

$

2,660

 

$

2,524

 

Ratio

 

3.89

%

4.07

%

4.32

%

4.05

%

3.71

%

3.93

%

4.29

%

3.96

%

3.46

%

3.45

%

3.30

%

3.24

%

Other (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup (2) (4) (5)

 

$

10,909

 

$

10,391

 

$

10,033

 

$

9,213

 

$

8,298

 

$

8,041

 

$

8,270

 

$

7,714

 

$

6,783

 

$

6,104

 

$

6,064

 

$

5,938

 

Ratio

 

2.58

%

2.45

%

2.45

%

2.25

%

2.06

%

2.04

%

2.10

%

1.95

%

1.78

%

1.65

%

1.62

%

1.56

%

 

(1)                                 The ratio of 30-89 Days Past Due is calculated based on end-of-period loans, net of unearned income.

(2)                                 The 30-89 Days Past Due and related ratios for North America Consumer Banking and North America Local Consumer Lending excludes U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 1 on page 10 and footnote 2 on page 25.

(3)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(4)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

(5)                                 See footnote 1 on page 21.

(6)                                 Represents loans classified as Consumer loans on the Consolidated Balance Sheet that are not included in the Citi Holdings Consumer credit metrics.

 

Reclassified to conform to the current period’s presentation.


 

SUPPLEMENTAL DETAIL

CONSUMER LOANS 30-89 DAYS DELINQUENCY AMOUNTS AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions of dollars)

 

 

 

Loans 30-89 Days Past Due (1)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

2,705

 

$

2,677

 

$

2,689

 

$

2,586

 

$

2,414

 

$

2,290

 

$

2,427

 

$

2,418

 

Ratio

 

0.98

%

0.95

%

0.96

%

0.92

%

0.90

%

0.84

%

0.90

%

0.88

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Bank (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

839

 

$

883

 

$

840

 

$

794

 

$

791

 

$

746

 

$

764

 

$

739

 

Ratio

 

0.59

%

0.61

%

0.58

%

0.56

%

0.57

%

0.53

%

0.55

%

0.53

%

North America (2)

 

$

177

 

$

203

 

$

213

 

$

212

 

$

203

 

$

176

 

$

198

 

$

221

 

Ratio

 

0.40

%

0.45

%

0.46

%

0.46

%

0.43

%

0.36

%

0.40

%

0.43

%

Latin America

 

$

258

 

$

266

 

$

239

 

$

235

 

$

229

 

$

217

 

$

239

 

$

184

 

Ratio

 

1.10

%

1.12

%

1.03

%

1.10

%

1.09

%

1.03

%

1.21

%

0.92

%

Asia (3)

 

$

404

 

$

414

 

$

388

 

$

347

 

$

359

 

$

353

 

$

327

 

$

334

 

Ratio

 

0.54

%

0.54

%

0.52

%

0.47

%

0.50

%

0.49

%

0.48

%

0.49

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

1,866

 

$

1,794

 

$

1,849

 

$

1,792

 

$

1,623

 

$

1,544

 

$

1,663

 

$

1,679

 

Ratio

 

1.38

%

1.31

%

1.36

%

1.29

%

1.25

%

1.17

%

1.28

%

1.23

%

North America - Citi-Branded

 

$

599

 

$

540

 

$

566

 

$

568

 

$

497

 

$

462

 

$

504

 

$

523

 

Ratio

 

0.90

%

0.80

%

0.85

%

0.84

%

0.78

%

0.72

%

0.78

%

0.78

%

North America - Retail Services

 

$

725

 

$

683

 

$

729

 

$

748

 

$

673

 

$

652

 

$

758

 

$

773

 

Ratio

 

1.71

%

1.58

%

1.70

%

1.61

%

1.59

%

1.51

%

1.76

%

1.68

%

Latin America

 

$

252

 

$

270

 

$

276

 

$

220

 

$

204

 

$

183

 

$

181

 

$

157

 

Ratio

 

3.50

%

3.65

%

3.78

%

3.28

%

3.34

%

3.10

%

3.35

%

2.91

%

Asia (3)

 

$

290

 

$

301

 

$

278

 

$

256

 

$

249

 

$

247

 

$

220

 

$

226

 

Ratio

 

1.54

%

1.54

%

1.47

%

1.38

%

1.40

%

1.36

%

1.29

%

1.28

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings - Consumer (2) (4) (5)

 

$

2,601

 

$

2,636

 

$

2,264

 

$

1,928

 

$

1,431

 

$

1,366

 

$

1,423

 

$

1,036

 

Ratio

 

2.73

%

2.83

%

2.65

%

2.37

%

2.23

%

2.24

%

2.51

%

2.23

%

International

 

$

498

 

$

462

 

$

286

 

$

265

 

$

234

 

$

213

 

$

193

 

$

179

 

Ratio

 

2.48

%

2.32

%

1.86

%

1.84

%

2.29

%

2.27

%

2.22

%

2.18

%

North America (2) (4) (5)

 

$

2,103

 

$

2,174

 

$

1,978

 

$

1,663

 

$

1,197

 

$

1,153

 

$

1,230

 

$

857

 

Ratio

 

2.79

%

2.97

%

2.83

%

2.49

%

2.21

%

2.24

%

2.56

%

2.24

%

Other (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup (2) (4) (5)

 

$

5,306

 

$

5,313

 

$

4,953

 

$

4,514

 

$

3,845

 

$

3,656

 

$

3,850

 

$

3,454

 

Ratio

 

1.43

%

1.41

%

1.35

%

1.25

%

1.15

%

1.09

%

1.18

%

1.07

%

 

(1)                                 The ratio of 30-89 Days Past Due is calculated based on end-of-period loans, net of unearned income.

(2)                                 The 30-89 Days Past Due and related ratios for North America Consumer Banking and North America Local Consumer Lending excludes U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 1 on page 10 and footnote 2 on page 25.

(3)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(4)                                 The December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude $14 million, $12 million, $12 million, $12 million and $11 million, respectively, of loans that are carried at fair value.

(5)                                 See footnote 1 on page 21.

(6)                                 Represents loans classified as Consumer loans on the Consolidated Balance Sheet that are not included in the Citi Holdings Consumer credit metrics.

 

Reclassified to conform to the current period’s presentation.

 

27


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 1

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

40,655

 

$

36,568

 

$

34,362

 

$

32,052

 

$

30,115

 

$

29,020

 

$

27,611

 

$

25,916

 

$

25,455

 

$

23,727

 

$

21,580

 

$

20,605

 

$

19,648

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Credit (Losses)

 

(7,032

)

(5,779

)

(5,093

)

(4,795

)

(4,644

)

(4,205

)

(4,516

)

(3,640

)

(3,444

)

(3,257

)

(2,974

)

(3,094

)

(2,983

)

Gross Recoveries

 

837

 

730

 

673

 

772

 

786

 

714

 

619

 

655

 

566

 

649

 

544

 

547

 

544

 

Net Credit (Losses) / Recoveries (NCLs)

 

(6,195

)

(5,049

)

(4,420

)

(4,023

)

(3,858

)

(3,491

)

(3,897

)

(2,985

)

(2,878

)

(2,608

)

(2,430

)

(2,547

)

(2,439

)

NCLs

 

6,195

 

5,049

 

4,420

 

4,023

 

3,858

 

3,491

 

3,897

 

2,985

 

2,878

 

2,608

 

2,430

 

2,547

 

2,439

 

Net Reserve Builds / (Releases)

 

(3,500

)

(1,965

)

(1,606

)

(1,454

)

(214

)

(641

)

(860

)

(193

)

(306

)

(642

)

(767

)

(246

)

(560

)

Net Specific Reserve Builds / (Releases) (2)

 

118

 

(15

)

122

 

(51

)

(935

)

(375

)

(601

)

46

 

(358

)

(139

)

(11

)

(390

)

(86

)

Provision for Loan Losses

 

2,813

 

3,069

 

2,936

 

2,518

 

2,709

 

2,475

 

2,436

 

2,838

 

2,214

 

1,827

 

1,652

 

1,911

 

1,793

 

Other (3) (4) (5) (6) (7) (8) (9)

 

(705

)

(226

)

(826

)

(432

)

54

 

(393

)

(234

)

(314

)

(1,064

)

(1,366

)

(197

)

(321

)

(79

)

Allowance for Loan Losses at End of Period (1) (a)

 

$

36,568

 

$

34,362

 

$

32,052

 

$

30,115

 

$

29,020

 

$

27,611

 

$

25,916

 

$

25,455

 

$

23,727

 

$

21,580

 

$

20,605

 

$

19,648

 

$

18,923

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Unfunded Lending Commitments (9) (10) (a)

 

$

1,105

 

$

1,097

 

$

1,139

 

$

1,136

 

$

1,097

 

$

1,104

 

$

1,063

 

$

1,119

 

$

1,132

 

$

1,133

 

$

1,262

 

$

1,229

 

$

1,202

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments (9)

 

$

25

 

$

(13

)

$

43

 

$

(4

)

$

(38

)

$

7

 

$

(41

)

$

56

 

$

14

 

$

(3

)

$

103

 

$

(34

)

$

(27

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]

 

$

37,673

 

$

35,459

 

$

33,191

 

$

31,251

 

$

30,117

 

$

28,715

 

$

26,979

 

$

26,574

 

$

24,859

 

$

22,713

 

$

21,867

 

$

20,877

 

$

20,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loan Losses as a Percentage of Total Loans (11)

 

5.78

%

5.35

%

5.07

%

4.69

%

4.51

%

4.25

%

3.97

%

3.92

%

3.70

%

3.38

%

3.16

%

2.97

%

2.87

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at End of Period (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp

 

$

19,731

 

$

18,389

 

$

16,840

 

$

15,928

 

$

15,465

 

$

14,521

 

$

13,983

 

$

13,775

 

$

13,451

 

$

12,649

 

$

12,518

 

$

12,410

 

$

12,092

 

Citi Holdings

 

16,837

 

15,973

 

15,212

 

14,187

 

13,555

 

13,090

 

11,933

 

11,680

 

10,276

 

8,931

 

8,087

 

7,238

 

6,831

 

Total Citigroup

 

$

36,568

 

$

34,362

 

$

32,052

 

$

30,115

 

$

29,020

 

$

27,611

 

$

25,916

 

$

25,455

 

$

23,727

 

$

21,580

 

$

20,605

 

$

19,648

 

$

18,923

 

 

(1)                                 Allowance for credit losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

 

(2)                                 The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

(3)                                 Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

 

(4)                                 The fourth quarter of 2014 includes a reduction of approximately $250 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $194 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $282 million related to FX translation.

 

(5)                                 The first quarter of 2015 includes a reduction of approximately $1,032 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $281 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the first quarter includes a reduction of approximately $145 million related to FX translation.

 

(6)                                 The second quarter of 2015 includes a reduction of approximately $88 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $34 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the second quarter includes a reduction of approximately $39 million related to FX translation.

 

(7)                                 The third quarter of 2015 includes a reduction of approximately $110 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $14 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the third quarter includes a reduction of approximately $255 million related to FX translation.

 

(8)                                 The fourth quarter of 2015 includes a reduction of approximately $1,180 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $1,133 million related to the transfers of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $35 million related to FX translation.

 

(9)                                 The fourth quarter of 2015 includes a reclassification of $271 million of Allowance for Loan Losses to Allowance for Unfunded Lending Commitments, included in the Other line item.  This reclassification reflects the re-attribution of $271 million in Allowances for Credit Losses between the funded and unfunded portions of the corporate credit portfolios and does not reflect a change in the underlying credit performance of these portfolios.  The $94 million ($87 million corporate, $7 million consumer) Provision for unfunded lending commitments during the 2015 fourth quarter represents the allowance change during the quarter due to portfolio and economic changes in the unfunded portfolio during the quarter.

 

(10)                          Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

 

(11)                          December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, exclude $5.9 billion, $6.6 billion, $6.5 billion, $5.5 billion and $5.0 billion, respectively, of loans which are carried at fair value.

 

Reclassified to conform to the current period’s presentation.


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 1

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

2014

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

18,923

 

$

17,890

 

$

16,915

 

$

15,994

 

$

14,598

 

$

14,075

 

$

13,626

 

$

40,655

 

$

30,115

 

$

25,455

 

$

19,648

 

$

15,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Credit (Losses)

 

(2,812

)

(2,586

)

(2,727

)

(2,458

)

(2,335

)

(2,068

)

(2,180

)

(22,699

)

(17,005

)

(12,769

)

(11,108

)

(9,041

)

Gross Recoveries

 

623

 

489

 

479

 

501

 

415

 

405

 

418

 

3,012

 

2,774

 

2,306

 

2,135

 

1,739

 

Net Credit (Losses) / Recoveries (NCLs)

 

(2,189

)

(2,097

)

(2,248

)

(1,957

)

(1,920

)

(1,663

)

(1,762

)

(19,687

)

(14,231

)

(10,463

)

(8,973

)

(7,302

)

NCLs

 

2,189

 

2,097

 

2,248

 

1,957

 

1,920

 

1,663

 

1,762

 

19,687

 

14,231

 

10,463

 

8,973

 

7,302

 

Net Reserve Builds / (Releases)

 

(521

)

(492

)

(306

)

(91

)

(199

)

43

 

386

 

(8,525

)

(1,908

)

(1,961

)

(1,879

)

139

 

Net Specific Reserve Builds / (Releases) (2)

 

(89

)

(30

)

(61

)

(111

)

(206

)

(124

)

108

 

174

 

(1,865

)

(898

)

(266

)

(333

)

Provision for Loan Losses

 

1,579

 

1,575

 

1,881

 

1,755

 

1,515

 

1,582

 

2,256

 

11,336

 

10,458

 

7,604

 

6,828

 

7,108

 

Other (3) (4) (5) (6) (7) (8) (9)

 

(423

)

(453

)

(554

)

(1,194

)

(118

)

(368

)

(1,494

)

(2,189

)

(887

)

(2,948

)

(1,509

)

(3,174

)

Allowance for Loan Losses at End of Period (1) (a)

 

$

17,890

 

$

16,915

 

$

15,994

 

$

14,598

 

$

14,075

 

$

13,626

 

$

12,626

 

$

30,115

 

$

25,455

 

$

19,648

 

$

15,994

 

$

12,626

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Unfunded Lending Commitments (9) (10) (a)

 

$

1,176

 

$

1,140

 

$

1,063

 

$

1,023

 

$

973

 

$

1,036

 

$

1,402

 

$

1,136

 

$

1,119

 

$

1,229

 

$

1,063

 

$

1,402

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments (9)

 

$

(31

)

$

(30

)

$

(74

)

$

(37

)

$

(48

)

$

65

 

$

94

 

$

51

 

$

(16

)

$

80

 

$

(162

)

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]

 

$

19,066

 

$

18,055

 

$

17,057

 

$

15,621

 

$

15,048

 

$

14,662

 

$

14,028

 

$

31,251

 

$

26,574

 

$

20,877

 

$

17,057

 

$

14,028

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loan Losses as a Percentage of Total Loans (11)

 

2.70

%

2.60

%

2.50

%

2.38

%

2.25

%

2.21

%

2.06

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at End of Period (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp

 

$

11,724

 

$

11,210

 

$

10,809

 

$

10,662

 

$

10,368

 

$

10,213

 

$

10,331

 

 

 

 

 

 

 

 

 

 

 

Citi Holdings

 

6,166

 

5,705

 

5,185

 

3,936

 

3,707

 

3,413

 

2,295

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup

 

$

17,890

 

$

16,915

 

$

15,994

 

$

14,598

 

$

14,075

 

$

13,626

 

$

12,626

 

 

 

 

 

 

 

 

 

 

 

 

(1)                                 Allowance for credit losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

 

(2)                                 The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

(3)                                 Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

 

(4)                                 The fourth quarter of 2014 includes a reduction of approximately $250 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $194 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $282 million related to FX translation.

 

(5)                                 The first quarter of 2015 includes a reduction of approximately $1,032 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $281 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the first quarter includes a reduction of approximately $145 million related to FX translation.

 

(6)                                 The second quarter of 2015 includes a reduction of approximately $88 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $34 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the second quarter includes a reduction of approximately $39 million related to FX translation.

 

(7)                                 The third quarter of 2015 includes a reduction of approximately $110 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $14 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the third quarter includes a reduction of approximately $255 million related to FX translation.

 

(8)                                 The fourth quarter of 2015 includes a reduction of approximately $1,180 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $1,133 million related to the transfers of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $35 million related to FX translation.

 

(9)                                 The fourth quarter of 2015 includes a reclassification of $271 million of Allowance for Loan Losses to Allowance for Unfunded Lending Commitments, included in the Other line item.  This reclassification reflects the re-attribution of $271 million in Allowances for Credit Losses between the funded and unfunded portions of the corporate credit portfolios and does not reflect a change in the underlying credit performance of these portfolios.  The $94 million ($87 million corporate, $7 million consumer) Provision for unfunded lending commitments during the 2015 fourth quarter represents the allowance change during the quarter due to portfolio and economic changes in the unfunded portfolio during the quarter.

 

(10)                          Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

 

(11)                          December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, exclude $5.9 billion, $6.6 billion, $6.5 billion, $5.5 billion and $5.0 billion, respectively, of loans which are carried at fair value.

 

Reclassified to conform to the current period’s presentation.

 

28


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 2

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Consumer Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

35,301

 

$

32,578

 

$

30,817

 

$

28,783

 

$

27,165

 

$

25,878

 

$

24,565

 

$

23,012

 

$

22,585

 

$

20,869

 

$

18,789

 

$

17,823

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (NCLs)

 

(5,311

)

(4,678

)

(4,117

)

(3,876

)

(3,929

)

(3,322

)

(3,771

)

(2,941

)

(2,827

)

(2,557

)

(2,328

)

(2,531

)

NCLs

 

5,311

 

4,678

 

4,117

 

3,876

 

3,929

 

3,322

 

3,771

 

2,941

 

2,827

 

2,557

 

2,328

 

2,531

 

Net Reserve Builds / (Releases) (2)

 

(2,906

)

(1,800

)

(1,482

)

(1,241

)

(379

)

(558

)

(863

)

(124

)

(272

)

(542

)

(786

)

(159

)

Net Specific Reserve Builds / (Releases)

 

912

 

268

 

231

 

33

 

(931

)

(384

)

(426

)

14

 

(400

)

(169

)

34

 

(362

)

Provision for Loan Losses

 

3,317

 

3,146

 

2,866

 

2,668

 

2,619

 

2,380

 

2,482

 

2,831

 

2,155

 

1,846

 

1,576

 

2,010

 

Other (3) (4) (5) (6) (7) (8)

 

(729

)

(229

)

(783

)

(410

)

23

 

(371

)

(264

)

(317

)

(1,044

)

(1,369

)

(214

)

(328

)

Allowance for Loan Losses at End of Period (1) (a)

 

$

32,578

 

$

30,817

 

$

28,783

 

$

27,165

 

$

25,878

 

$

24,565

 

$

23,012

 

$

22,585

 

$

20,869

 

$

18,789

 

$

17,823

 

$

16,974

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Allowance for Unfunded Lending Commitments (9) (a)

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

12

 

$

23

 

$

63

 

$

61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments

 

$

(8

)

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

12

 

$

11

 

$

40

 

$

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]

 

$

32,578

 

$

30,817

 

$

28,783

 

$

27,165

 

$

25,878

 

$

24,565

 

$

23,012

 

$

22,585

 

$

20,881

 

$

18,812

 

$

17,886

 

$

17,035

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Allowance for Loan Losses as a Percentage of Total Consumer Loans (10)

 

7.50

%

7.07

%

6.85

%

6.47

%

6.28

%

6.06

%

5.70

%

5.58

%

5.34

%

4.97

%

4.65

%

4.36

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Corporate Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

5,354

 

$

3,990

 

$

3,545

 

$

3,269

 

$

2,950

 

$

3,142

 

$

3,046

 

$

2,904

 

$

2,870

 

$

2,858

 

$

2,791

 

$

2,782

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit (Losses) / Recoveries (NCL’s)

 

(884

)

(371

)

(303

)

(147

)

71

 

(169

)

(126

)

(44

)

(51

)

(51

)

(102

)

(16

)

NCLs

 

884

 

371

 

303

 

147

 

(71

)

169

 

126

 

44

 

51

 

51

 

102

 

16

 

Net Reserve Builds / (Releases)

 

(594

)

(165

)

(124

)

(213

)

165

 

(83

)

3

 

(69

)

(34

)

(100

)

19

 

(87

)

Net Specific Reserve Builds / (Releases)

 

(794

)

(283

)

(109

)

(84

)

(4

)

9

 

(175

)

32

 

42

 

30

 

(45

)

(28

)

Provision for Loan Losses

 

(504

)

(77

)

70

 

(150

)

90

 

95

 

(46

)

7

 

59

 

(19

)

76

 

(99

)

Other (3) (11)

 

24

 

3

 

(43

)

(22

)

31

 

(22

)

30

 

3

 

(20

)

3

 

17

 

7

 

Allowance for Loan Losses at End of Period (1) (b)

 

$

3,990

 

$

3,545

 

$

3,269

 

$

2,950

 

$

3,142

 

$

3,046

 

$

2,904

 

$

2,870

 

$

2,858

 

$

2,791

 

$

2,782

 

$

2,674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Allowance for Unfunded Lending Commitments (9)(11)(b)

 

$

1,105

 

$

1,097

 

$

1,139

 

$

1,136

 

$

1,097

 

$

1,104

 

$

1,063

 

$

1,119

 

$

1,120

 

$

1,110

 

$

1,199

 

$

1,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments (11)

 

$

33

 

$

(13

)

$

43

 

$

(4

)

$

(38

)

$

7

 

$

(41

)

$

56

 

$

2

 

$

(14

)

$

63

 

$

(32

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (b)]

 

$

5,095

 

$

4,642

 

$

4,408

 

$

4,086

 

$

4,239

 

$

4,150

 

$

3,967

 

$

3,989

 

$

3,978

 

$

3,901

 

$

3,981

 

$

3,842

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Allowance for Loan Losses as a Percentage of Total Corporate Loans (12)

 

2.01

%

1.71

%

1.55

%

1.33

%

1.36

%

1.24

%

1.16

%

1.17

%

1.14

%

1.07

%

1.03

%

0.99

%

 

Footnotes to these tables are on the following page (page 30).


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 2

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Consumer Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

16,974

 

$

16,377

 

$

15,445

 

$

14,519

 

$

13,547

 

$

12,052

 

$

11,669

 

$

11,030

 

$

35,301

 

$

27,165

 

$

22,585

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (NCLs)

 

(2,293

)

(2,176

)

(2,107

)

(2,099

)

(1,964

)

(1,813

)

(1,613

)

(1,668

)

(17,982

)

(13,963

)

(10,243

)

NCLs

 

2,293

 

2,176

 

2,107

 

2,099

 

1,964

 

1,813

 

1,613

 

1,668

 

17,982

 

13,963

 

10,243

 

Net Reserve Builds / (Releases) (2)

 

(460

)

(495

)

(378

)

(401

)

(203

)

(167

)

(73

)

32

 

(7,429

)

(1,924

)

(1,759

)

Net Specific Reserve Builds / (Releases)

 

(76

)

(14

)

(117

)

(39

)

(114

)

(87

)

(202

)

(16

)

1,444

 

(1,727

)

(897

)

Provision for Loan Losses

 

1,757

 

1,667

 

1,612

 

1,659

 

1,647

 

1,559

 

1,338

 

1,684

 

11,997

 

10,312

 

7,587

 

Other (3) (4) (5) (6) (7) (8)

 

(61

)

(423

)

(431

)

(532

)

(1,178

)

(129

)

(364

)

(1,211

)

(2,151

)

(929

)

(2,955

)

Allowance for Loan Losses at End of Period (1) (a)

 

$

16,377

 

$

15,445

 

$

14,519

 

$

13,547

 

$

12,052

 

$

11,669

 

$

11,030

 

$

9,835

 

$

27,165

 

$

22,585

 

$

16,974

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Allowance for Unfunded Lending Commitments (9) (a)

 

$

58

 

$

59

 

$

51

 

$

33

 

$

30

 

$

29

 

$

28

 

$

35

 

$

—

 

$

—

 

$

61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments

 

$

(3

)

$

1

 

$

(8

)

$

(18

)

$

(3

)

$

(1

)

$

(1

)

$

7

 

$

(8

)

$

—

 

$

61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]

 

$

16,435

 

$

15,504

 

$

14,570

 

$

13,580

 

$

12,082

 

$

11,698

 

$

11,058

 

$

9,870

 

$

27,165

 

$

22,585

 

$

17,035

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Allowance for Loan Losses as a Percentage of Total Consumer Loans (10)

 

4.31

%

4.06

%

3.90

%

3.70

%

3.57

%

3.45

%

3.35

%

3.02

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Corporate Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

2,674

 

$

2,546

 

$

2,445

 

$

2,396

 

$

2,447

 

$

2,546

 

$

2,406

 

$

2,596

 

$

5,354

 

$

2,950

 

$

2,870

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit (Losses) / Recoveries (NCL’s)

 

(146

)

(13

)

10

 

(149

)

7

 

(107

)

(50

)

(94

)

(1,705

)

(268

)

(220

)

NCLs

 

146

 

13

 

(10

)

149

 

(7

)

107

 

50

 

94

 

1,705

 

268

 

220

 

Net Reserve Builds / (Releases)

 

(100

)

(26

)

(114

)

95

 

112

 

(32

)

116

 

354

 

(1,096

)

16

 

(202

)

Net Specific Reserve Builds / (Releases)

 

(10

)

(75

)

87

 

(22

)

3

 

(119

)

78

 

124

 

(1,270

)

(138

)

(1

)

Provision for Loan Losses

 

36

 

(88

)

(37

)

222

 

108

 

(44

)

244

 

572

 

(661

)

146

 

17

 

Other (3) (11)

 

(18

)

—

 

(22

)

(22

)

(16

)

11

 

(4

)

(283

)

(38

)

42

 

7

 

Allowance for Loan Losses at End of Period (1) (b)

 

$

2,546

 

$

2,445

 

$

2,396

 

$

2,447

 

$

2,546

 

$

2,406

 

$

2,596

 

$

2,791

 

$

2,950

 

$

2,870

 

$

2,674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Allowance for Unfunded Lending Commitments (9)(11)(b)

 

$

1,144

 

$

1,117

 

$

1,089

 

$

1,030

 

$

993

 

$

944

 

$

1,008

 

$

1,367

 

$

1,136

 

$

1,119

 

$

1,168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments (11)

 

$

(24

)

$

(32

)

$

(22

)

$

(56

)

$

(34

)

$

(47

)

$

66

 

$

87

 

$

59

 

$

(16

)

$

19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (b)]

 

$

3,690

 

$

3,562

 

$

3,485

 

$

3,477

 

$

3,539

 

$

3,350

 

$

3,604

 

$

4,158

 

$

4,086

 

$

3,989

 

$

3,842

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Allowance for Loan Losses as a Percentage of Total Corporate Loans (12)

 

0.91

%

0.87

%

0.87

%

0.90

%

0.92

%

0.84

%

0.90

%

0.97

%

 

 

 

 

 

 

 

Footnotes to these tables are on the following page (page 30).


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 2

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Total Citigroup Consumer Loans

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

16,974

 

$

13,547

 

 

 

 

 

 

 

Net Credit Losses (NCLs)

 

(8,675

)

(7,058

)

NCLs

 

8,675

 

7,058

 

Net Reserve Builds / (Releases) (2)

 

(1,734

)

(411

)

Net Specific Reserve Builds / (Releases)

 

(246

)

(419

)

Provision for Loan Losses

 

6,695

 

6,228

 

Other (3) (4) (5) (6) (7) (8)

 

(1,447

)

(2,882

)

Allowance for Loan Losses at End of Period (1) (a)

 

$

13,547

 

$

9,835

 

 

 

 

 

 

 

Consumer Allowance for Unfunded Lending Commitments (9) (a)

 

$

33

 

$

35

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments

 

$

(28

)

$

2

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]

 

$

13,580

 

$

9,870

 

 

 

 

 

 

 

Consumer Allowance for Loan Losses as a Percentage of Total Consumer Loans (10)

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Corporate Loans

 

 

 

 

 

Allowance for Loan Losses at Beginning of Period (1)

 

$

2,674

 

$

2,447

 

 

 

 

 

 

 

Net Credit (Losses) / Recoveries (NCL’s)

 

(298

)

(244

)

NCLs

 

298

 

244

 

Net Reserve Builds / (Releases)

 

(145

)

550

 

Net Specific Reserve Builds / (Releases)

 

(20

)

86

 

Provision for Loan Losses

 

133

 

880

 

Other (3) (11)

 

(62

)

(292

)

Allowance for Loan Losses at End of Period (1) (b)

 

$

2,447

 

$

2,791

 

 

 

 

 

 

 

Corporate Allowance for Unfunded Lending Commitments (9)(11)(b)

 

$

1,030

 

$

1,367

 

 

 

 

 

 

 

Provision for Unfunded Lending Commitments (11)

 

$

(134

)

$

72

 

 

 

 

 

 

 

Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (b)]

 

$

3,477

 

$

4,158

 

 

 

 

 

 

 

Corporate Allowance for Loan Losses as a Percentage of Total Corporate Loans (12)

 

 

 

 

 

 

Footnotes to these tables are on the following page (page 30).

 

29


 

ALLOWANCE FOR CREDIT LOSSES - PAGE 3

TOTAL CITIGROUP

 

The following footnotes relate to the tables on the prior page (page 29).

 

(1)                                 Allowance for credit losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

 

(2)                                 The fourth quarter of 2015, includes a build of $162 million related to the transfer of approximately $8 billion of mortgage loans to Loans Held-for-sale at the end of the quarter.

 

(3)                                 Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

 

(4)                                 The fourth quarter of 2014 includes a reduction of approximately $250 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $194 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $282 million related to FX translation.

 

(5)                                 The first quarter of 2015 includes a reduction of approximately $1,032 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $281 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the first quarter includes a reduction of approximately $145 million related to FX translation.

 

(6)                                 The second quarter of 2015 includes a reduction of approximately $88 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $34 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the second quarter includes a reduction of approximately $39 million related to FX translation.

 

(7)                                 The third quarter of 2015 includes a reduction of approximately $110 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $14 million related to a transfer of a real estate loan portfolio to HFS.  Additionally, the third quarter includes a reduction of approximately $255 million related to FX translation.

 

(8)                                 The fourth quarter of 2015 includes a reduction of approximately $1,180 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $1,133 million related to the transfers of a real estate loan portfolio to HFS.  Additionally, the fourth quarter includes a reduction of approximately $35 million related to FX translation.

 

(9)                                 Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

 

(10)                          December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 exclude $43 million, $38 million, $39 million, $37 million and $34 million, respectively, of loans which are carried at fair value.

 

(11)                          The fourth quarter of 2015 includes a reclassification of $271 million of Allowance for Loan Losses to Allowance for Unfunded Lending Commitments, included in the Other line item.  This reclassification reflects the re-attribution of $271 million in Allowances for Credit Losses between the funded and unfunded portions of the corporate credit portfolios and does not reflect a change in the underlying credit performance of these portfolios.  The $94 million ($87 million corporate, $7 million consumer) Provision for unfunded lending commitments during the 2015 fourth quarter represents the allowance change during the quarter due to portfolio and economic changes in the unfunded portfolio during the quarter.

 

(12)                          December 31, 2014, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 exclude $5.9 billion, $6.5 billion, $6.5 billion, $5.5 billion and $5.0 billion, respectively, of loans which are carried at fair value.

 

Reclassified to conform to the current period’s presentation.

 

30


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 1

CITICORP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

$

3,030

 

$

2,724

 

$

2,388

 

$

2,297

 

$

1,984

 

$

2,012

 

$

1,933

 

$

1,846

 

$

1,789

 

$

1,715

 

$

1,637

 

$

1,651

 

$

1,775

 

Credit Reserve Build / (Release)

 

(1,768

)

(1,403

)

(954

)

(854

)

(639

)

(790

)

(661

)

(211

)

(331

)

(309

)

(104

)

(110

)

(305

)

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

2,818

 

2,572

 

2,290

 

2,128

 

2,037

 

1,883

 

1,788

 

1,768

 

1,748

 

1,659

 

1,568

 

1,623

 

1,643

 

Credit Reserve Build / (Release)

 

(1,376

)

(1,336

)

(979

)

(715

)

(807

)

(771

)

(514

)

(178

)

(351

)

(243

)

(86

)

(13

)

(219

)

North America Regional Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

2,371

 

2,133

 

1,854

 

1,741

 

1,629

 

1,510

 

1,353

 

1,267

 

1,256

 

1,188

 

1,082

 

1,108

 

1,101

 

Credit Reserve Build / (Release)

 

(1,201

)

(1,238

)

(955

)

(786

)

(842

)

(814

)

(519

)

(215

)

(370

)

(350

)

(227

)

(88

)

(270

)

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

87

 

76

 

65

 

72

 

62

 

61

 

74

 

53

 

56

 

42

 

37

 

49

 

33

 

Credit Reserve Build / (Release)

 

2

 

9

 

9

 

4

 

(3

)

(5

)

37

 

45

 

(9

)

(1

)

10

 

(21

)

(3

)

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

1,352

 

1,231

 

1,099

 

986

 

902

 

840

 

745

 

700

 

692

 

665

 

610

 

588

 

587

 

Credit Reserve Build / (Release)

 

(642

)

(752

)

(655

)

(678

)

(549

)

(405

)

(403

)

(240

)

(128

)

(176

)

(156

)

(76

)

(188

)

Citi Retail Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

932

 

826

 

690

 

683

 

665

 

609

 

534

 

514

 

508

 

481

 

435

 

471

 

481

 

Credit Reserve Build / (Release)

 

(561

)

(495

)

(309

)

(112

)

(290

)

(404

)

(153

)

(20

)

(233

)

(173

)

(81

)

9

 

(79

)

Latin America Regional Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

230

 

210

 

199

 

193

 

212

 

195

 

227

 

276

 

289

 

299

 

295

 

319

 

346

 

Credit Reserve Build / (Release)

 

(116

)

(50

)

29

 

25

 

59

 

74

 

27

 

11

 

19

 

86

 

161

 

54

 

45

 

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

71

 

72

 

75

 

80

 

94

 

82

 

100

 

139

 

137

 

144

 

140

 

151

 

155

 

Credit Reserve Build / (Release)

 

(30

)

17

 

64

 

33

 

59

 

67

 

23

 

3

 

(3

)

74

 

117

 

26

 

10

 

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

159

 

138

 

124

 

113

 

118

 

113

 

127

 

137

 

152

 

155

 

155

 

168

 

191

 

Credit Reserve Build / (Release)

 

(86

)

(67

)

(35

)

(8

)

—

 

7

 

4

 

8

 

22

 

12

 

44

 

28

 

35

 

Asia Regional Consumer Banking (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

217

 

229

 

237

 

194

 

196

 

178

 

208

 

225

 

203

 

172

 

191

 

196

 

196

 

Credit Reserve Build / (Release)

 

(59

)

(48

)

(53

)

46

 

(24

)

(31

)

(22

)

26

 

—

 

21

 

(20

)

21

 

6

 

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

71

 

87

 

90

 

68

 

62

 

55

 

68

 

85

 

57

 

55

 

70

 

79

 

82

 

Credit Reserve Build / (Release)

 

(20

)

(10

)

(28

)

30

 

(12

)

(8

)

(28

)

(1

)

(2

)

40

 

(4

)

15

 

11

 

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

146

 

142

 

147

 

126

 

134

 

123

 

140

 

140

 

146

 

117

 

121

 

117

 

114

 

Credit Reserve Build / (Release)

 

(39

)

(38

)

(25

)

16

 

(12

)

(23

)

6

 

27

 

2

 

(19

)

(16

)

6

 

(5

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (ICG)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

211

 

152

 

97

 

168

 

(54

)

128

 

146

 

79

 

41

 

56

 

69

 

28

 

132

 

Credit Reserve Build / (Release)

 

(391

)

(67

)

26

 

(138

)

169

 

(19

)

(147

)

(33

)

20

 

(66

)

(18

)

(97

)

(86

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

1

 

—

 

1

 

1

 

1

 

1

 

(1

)

(1

)

—

 

—

 

—

 

—

 

—

 

Credit Reserve Build / (Release)

 

(1

)

—

 

(1

)

(1

)

(1

)

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses

 

$

1,262

 

$

1,321

 

$

1,434

 

$

1,443

 

$

1,345

 

$

1,222

 

$

1,272

 

$

1,635

 

$

1,458

 

$

1,406

 

$

1,533

 

$

1,541

 

$

1,470

 

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

Reclassified to conform to the current period’s presentation.


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 1

CITICORP

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citicorp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

$

1,659

 

$

1,611

 

$

1,742

 

$

1,488

 

$

1,586

 

$

1,391

 

$

1,501

 

$

10,439

 

$

7,775

 

$

6,792

 

Credit Reserve Build / (Release)

 

(400

)

(374

)

(146

)

(30

)

(220

)

90

 

421

 

(4,979

)

(2,301

)

(854

)

Global Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

1,650

 

1,595

 

1,624

 

1,489

 

1,504

 

1,354

 

1,405

 

9,808

 

7,476

 

6,598

 

Credit Reserve Build / (Release)

 

(304

)

(351

)

(249

)

(149

)

(97

)

(103

)

(44

)

(4,406

)

(2,270

)

(693

)

North America Regional Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

1,072

 

1,017

 

1,012

 

960

 

999

 

878

 

914

 

8,099

 

5,759

 

4,634

 

Credit Reserve Build / (Release)

 

(398

)

(340

)

(233

)

(99

)

(108

)

(61

)

(69

)

(4,180

)

(2,390

)

(1,035

)

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

37

 

34

 

35

 

35

 

39

 

34

 

42

 

300

 

250

 

184

 

Credit Reserve Build / (Release)

 

(29

)

(10

)

28

 

19

 

(5

)

32

 

7

 

24

 

74

 

(21

)

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

570

 

526

 

514

 

492

 

503

 

443

 

454

 

4,668

 

3,187

 

2,555

 

Credit Reserve Build / (Release)

 

(223

)

(212

)

(220

)

(119

)

(74

)

(105

)

(85

)

(2,727

)

(1,597

)

(536

)

Citi Retail Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

465

 

457

 

463

 

433

 

457

 

401

 

418

 

3,131

 

2,322

 

1,895

 

Credit Reserve Build / (Release)

 

(146

)

(118

)

(41

)

1

 

(29

)

12

 

9

 

(1,477

)

(867

)

(478

)

Latin America Regional Consumer Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

366

 

380

 

423

 

356

 

316

 

301

 

307

 

832

 

910

 

1,202

 

Credit Reserve Build / (Release)

 

106

 

9

 

(32

)

(8

)

19

 

19

 

3

 

(112

)

171

 

320

 

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

160

 

164

 

220

 

150

 

142

 

138

 

159

 

298

 

415

 

572

 

Credit Reserve Build / (Release)

 

17

 

9

 

(36

)

—

 

17

 

13

 

12

 

84

 

152

 

214

 

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

206

 

216

 

203

 

206

 

174

 

163

 

148

 

534

 

495

 

630

 

Credit Reserve Build / (Release)

 

89

 

—

 

4

 

(8

)

2

 

6

 

(9

)

(196

)

19

 

106

 

Asia Regional Consumer Banking (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

212

 

198

 

189

 

173

 

189

 

175

 

184

 

877

 

807

 

762

 

Credit Reserve Build / (Release)

 

(12

)

(20

)

16

 

(42

)

(8

)

(61

)

22

 

(114

)

(51

)

22

 

Retail Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

83

 

77

 

76

 

70

 

80

 

75

 

94

 

316

 

270

 

261

 

Credit Reserve Build / (Release)

 

(6

)

(11

)

1

 

(21

)

(3

)

(34

)

26

 

(28

)

(49

)

49

 

Citi-Branded Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

129

 

121

 

113

 

103

 

109

 

100

 

90

 

561

 

537

 

501

 

Credit Reserve Build / (Release)

 

(6

)

(9

)

15

 

(21

)

(5

)

(27

)

(4

)

(86

)

(2

)

(27

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Clients Group (ICG)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

9

 

16

 

118

 

(1

)

82

 

37

 

96

 

628

 

299

 

194

 

Credit Reserve Build / (Release)

 

(96

)

(23

)

103

 

119

 

(123

)

193

 

465

 

(570

)

(30

)

(161

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate / Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

3

 

—

 

—

 

Credit Reserve Build / (Release)

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

(3

)

(1

)

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses

 

$

1,259

 

$

1,237

 

$

1,596

 

$

1,458

 

$

1,366

 

$

1,481

 

$

1,922

 

$

5,460

 

$

5,474

 

$

5,938

 

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

Reclassified to conform to the current period’s presentation.


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 1

CITICORP

(In millions of dollars)

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

 

 

 

 

 

 

Citicorp

 

 

 

 

 

Net Credit Losses

 

$

6,787

 

$

5,966

 

Credit Reserve Build / (Release)

 

(1,225

)

261

 

Global Consumer Banking

 

 

 

 

 

Net Credit Losses

 

6,512

 

5,752

 

Credit Reserve Build / (Release)

 

(1,123

)

(393

)

North America Regional Consumer Banking

 

 

 

 

 

Net Credit Losses

 

4,202

 

3,751

 

Credit Reserve Build / (Release)

 

(1,241

)

(337

)

Retail Banking

 

 

 

 

 

Net Credit Losses

 

139

 

150

 

Credit Reserve Build / (Release)

 

(14

)

53

 

Citi-Branded Cards

 

 

 

 

 

Net Credit Losses

 

2,197

 

1,892

 

Credit Reserve Build / (Release)

 

(843

)

(383

)

Citi Retail Services

 

 

 

 

 

Net Credit Losses

 

1,866

 

1,709

 

Credit Reserve Build / (Release)

 

(384

)

(7

)

Latin America Regional Consumer Banking

 

 

 

 

 

Net Credit Losses

 

1,515

 

1,280

 

Credit Reserve Build / (Release)

 

128

 

33

 

Retail Banking

 

 

 

 

 

Net Credit Losses

 

699

 

589

 

Credit Reserve Build / (Release)

 

—

 

42

 

Citi-Branded Cards

 

 

 

 

 

Net Credit Losses

 

816

 

691

 

Credit Reserve Build / (Release)

 

128

 

(9

)

Asia Regional Consumer Banking (1)

 

 

 

 

 

Net Credit Losses

 

795

 

721

 

Credit Reserve Build / (Release)

 

(10

)

(89

)

Retail Banking

 

 

 

 

 

Net Credit Losses

 

318

 

319

 

Credit Reserve Build / (Release)

 

(5

)

(32

)

Citi-Branded Cards

 

 

 

 

 

Net Credit Losses

 

477

 

402

 

Credit Reserve Build / (Release)

 

(5

)

(57

)

 

 

 

 

 

 

Institutional Clients Group (ICG)

 

 

 

 

 

Net Credit Losses

 

275

 

214

 

Credit Reserve Build / (Release)

 

(102

)

654

 

 

 

 

 

 

 

Corporate / Other

 

 

 

 

 

Net Credit Losses

 

—

 

—

 

Credit Reserve Build / (Release)

 

—

 

—

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses

 

$

5,562

 

$

6,227

 

 

(1)           For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

Reclassified to conform to the current period’s presentation.

 

31


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 2

CITI HOLDINGS / TOTAL CITIGROUP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Citi Holdings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (1)

 

$

3,165

 

$

2,325

 

$

2,032

 

$

1,726

 

$

1,874

 

$

1,479

 

$

1,964

 

$

1,139

 

$

1,089

 

$

893

 

$

793

 

$

896

 

Credit Reserve Build / (Release)

 

(1,614

)

(577

)

(530

)

(651

)

(510

)

(226

)

(800

)

64

 

(333

)

(472

)

(674

)

(526

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings Provision for Loan Losses

 

$

1,551

 

$

1,748

 

$

1,502

 

$

1,075

 

$

1,364

 

$

1,253

 

$

1,164

 

$

1,203

 

$

756

 

$

421

 

$

119

 

$

370

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses (from prior page)

 

$

1,262

 

$

1,321

 

$

1,434

 

$

1,443

 

$

1,345

 

$

1,222

 

$

1,272

 

$

1,635

 

$

1,458

 

$

1,406

 

$

1,533

 

$

1,541

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Provision for Loan Losses

 

$

2,813

 

$

3,069

 

$

2,936

 

$

2,518

 

$

2,709

 

$

2,475

 

$

2,436

 

$

2,838

 

$

2,214

 

$

1,827

 

$

1,652

 

$

1,911

 

 

(1) See footnote 1 on page 23

 

Reclassified to conform to the current period’s presentation.


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 2

CITI HOLDINGS / TOTAL CITIGROUP

(In millions of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full

 

Full

 

Full

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

Year

 

Year

 

Year

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

2011

 

2012

 

2013

 

Citi Holdings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Credit Losses (1)

 

$

664

 

$

530

 

$

486

 

$

506

 

$

469

 

$

334

 

$

272

 

$

261

 

$

9,248

 

$

6,456

 

$

3,671

 

Credit Reserve Build / (Release)

 

(341

)

(210

)

(148

)

(221

)

(172

)

(185

)

(171

)

73

 

(3,372

)

(1,472

)

(2,005

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citi Holdings Provision for Loan Losses

 

$

323

 

$

320

 

$

338

 

$

285

 

$

297

 

$

149

 

$

101

 

$

334

 

$

5,876

 

$

4,984

 

$

1,666

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses (from prior page)

 

$

1,470

 

$

1,259

 

$

1,237

 

$

1,596

 

$

1,458

 

$

1,366

 

$

1,481

 

$

1,922

 

$

5,460

 

$

5,474

 

$

5,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Citigroup Provision for Loan Losses

 

$

1,793

 

$

1,579

 

$

1,575

 

$

1,881

 

$

1,755

 

$

1,515

 

$

1,582

 

$

2,256

 

$

11,336

 

$

10,458

 

$

7,604

 

 

(1) See footnote 1 on page 23

 

Reclassified to conform to the current period’s presentation.


 

COMPONENTS OF PROVISION FOR LOAN LOSSES - PAGE 2

CITI HOLDINGS / TOTAL CITIGROUP

(In millions of dollars)

 

 

 

 

Full

 

Full

 

 

 

Year

 

Year

 

 

 

2014

 

2015

 

Citi Holdings

 

 

 

 

 

Net Credit Losses (1)

 

$

2,186

 

$

1,336

 

Credit Reserve Build / (Release)

 

(920

)

(455

)

 

 

 

 

 

 

Total Citi Holdings Provision for Loan Losses

 

$

1,266

 

$

881

 

 

 

 

 

 

 

Total Citicorp Provision for Loan Losses (from prior page)

 

$

5,562

 

$

6,227

 

 

 

 

 

 

 

Total Citigroup Provision for Loan Losses

 

$

6,828

 

$

7,108

 

 

(1) See footnote 1 on page 23

 

Reclassified to conform to the current period’s presentation.

 

32


 

NON-ACCRUAL ASSETS - PAGE 1

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

2,223

 

$

1,922

 

$

1,810

 

$

1,323

 

$

1,105

 

$

729

 

$

900

 

$

735

 

$

1,062

 

$

812

 

$

807

 

$

735

 

EMEA

 

2,276

 

1,999

 

1,619

 

1,270

 

1,171

 

1,219

 

1,111

 

1,195

 

1,080

 

1,037

 

1,029

 

812

 

Latin America

 

612

 

536

 

452

 

367

 

270

 

214

 

160

 

125

 

123

 

103

 

133

 

132

 

Asia

 

451

 

449

 

342

 

335

 

499

 

469

 

330

 

339

 

304

 

269

 

272

 

279

 

Total

 

$

5,562

 

$

4,906

 

$

4,223

 

$

3,295

 

$

3,045

 

$

2,631

 

$

2,501

 

$

2,394

 

$

2,569

 

$

2,221

 

$

2,241

 

$

1,958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3) (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

7,068

 

$

6,125

 

$

5,954

 

$

5,890

 

$

6,700

 

$

6,403

 

$

7,700

 

$

7,150

 

$

6,189

 

$

5,596

 

$

5,344

 

$

5,239

 

Latin America

 

1,010

 

1,075

 

946

 

1,101

 

1,171

 

1,153

 

1,265

 

1,288

 

1,306

 

1,418

 

1,391

 

1,420

 

Asia (4)

 

1,149

 

1,127

 

950

 

782

 

806

 

730

 

724

 

698

 

607

 

498

 

442

 

386

 

Total

 

$

9,227

 

$

8,327

 

$

7,850

 

$

7,773

 

$

8,677

 

$

8,286

 

$

9,689

 

$

9,136

 

$

8,102

 

$

7,512

 

$

7,177

 

$

7,045

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

$

743

 

$

769

 

$

764

 

$

23

 

$

7

 

$

12

 

$

9

 

$

7

 

$

2

 

$

4

 

$

3

 

$

13

 

Global Consumer Banking

 

14

 

15

 

19

 

20

 

18

 

18

 

21

 

27

 

29

 

30

 

36

 

38

 

Citi Holdings

 

806

 

632

 

561

 

508

 

541

 

502

 

434

 

406

 

374

 

349

 

344

 

345

 

Corporate/Other

 

14

 

16

 

13

 

15

 

14

 

10

 

10

 

1

 

6

 

9

 

20

 

20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL OTHER REAL ESTATE OWNED (OREO) (5)

 

$

1,577

 

$

1,432

 

$

1,357

 

$

566

 

$

580

 

$

542

 

$

474

 

$

441

 

$

411

 

$

392

 

$

403

 

$

416

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,324

 

$

1,234

 

$

1,214

 

$

434

 

$

386

 

$

361

 

$

309

 

$

299

 

$

284

 

$

267

 

$

294

 

$

304

 

EMEA

 

140

 

133

 

79

 

72

 

139

 

127

 

110

 

99

 

85

 

77

 

62

 

59

 

Latin America

 

51

 

55

 

57

 

51

 

48

 

48

 

48

 

41

 

40

 

46

 

39

 

47

 

Asia

 

62

 

10

 

7

 

9

 

7

 

6

 

7

 

2

 

2

 

2

 

8

 

6

 

Total

 

$

1,577

 

$

1,432

 

$

1,357

 

$

566

 

$

580

 

$

542

 

$

474

 

$

441

 

$

411

 

$

392

 

$

403

 

$

416

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

$

—

 

$

—

 

$

24

 

$

1

 

$

1

 

$

2

 

$

1

 

$

1

 

$

1

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

5,562

 

$

4,906

 

$

4,223

 

$

3,295

 

$

3,045

 

$

2,631

 

$

2,501

 

$

2,394

 

$

2,569

 

$

2,221

 

$

2,241

 

$

1,958

 

Consumer Non-Accrual Loans

 

9,227

 

8,327

 

7,850

 

7,773

 

8,677

 

8,286

 

9,689

 

9,136

 

8,102

 

7,512

 

7,177

 

7,045

 

Non-Accrual Loans (NAL)

 

14,789

 

13,233

 

12,073

 

11,068

 

11,722

 

10,917

 

12,190

 

11,530

 

10,671

 

9,733

 

9,418

 

9,003

 

OREO

 

1,577

 

1,432

 

1,357

 

566

 

580

 

542

 

474

 

441

 

411

 

392

 

403

 

416

 

Other Repossessed Assets

 

—

 

—

 

24

 

1

 

1

 

2

 

1

 

1

 

1

 

—

 

—

 

—

 

Non-Accrual Assets (NAA)

 

$

16,366

 

$

14,665

 

$

13,454

 

$

11,635

 

$

12,303

 

$

11,461

 

$

12,665

 

$

11,972

 

$

11,083

 

$

10,125

 

$

9,821

 

$

9,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAL as a % of Total Loans

 

2.32

%

2.04

%

1.89

%

1.71

%

1.81

%

1.67

%

1.85

%

1.76

%

1.65

%

1.51

%

1.43

%

1.35

%

NAA as a % of Total Assets

 

0.84

%

0.75

%

0.70

%

0.62

%

0.63

%

0.60

%

0.66

%

0.64

%

0.59

%

0.54

%

0.52

%

0.50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

247

%

260

%

265

%

272

%

248

%

253

%

213

%

221

%

222

%

222

%

219

%

218

%

 

(1)                                 Corporate loans are placed on non-accrual status based upon a review by Citigroup’s risk officers.  Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for Consumer loans: Consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency.  As such, the non-accrual loan disclosures do not include credit card loans.

(2)                                 The first, second and third quarters of 2015 reflect the transfers of non accrual loans to HFS resulting from the agreements to sell OneMain, Japan Retail and Japan Cards.

(3)                                 Excludes SOP 03-3 purchased distressed loans.

(4)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(5)                                 Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral.  Also includes former premises and property for use that is no longer contemplated.

(6)                                 There is no industry-wide definition of non-accrual assets.  As such, analysis against the industry is not always comparable.

(7)                                 The fourth quarter of 2015 decline includes the impact related to the transfer of approximately $8 billion of mortgage loans to Loans, held-for-sale (HFS) (included within Other assets on the GAAP balance sheet).

 

Reclassified to conform to the current period’s presentation.


 

NON-ACCRUAL ASSETS - PAGE 1

TOTAL CITIGROUP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

690

 

$

368

 

$

385

 

$

321

 

$

347

 

$

467

 

$

833

 

$

818

 

EMEA

 

498

 

394

 

324

 

285

 

305

 

385

 

386

 

347

 

Latin America

 

186

 

288

 

480

 

417

 

379

 

226

 

230

 

303

 

Asia

 

283

 

199

 

182

 

179

 

151

 

145

 

129

 

128

 

Total

 

$

1,657

 

$

1,249

 

$

1,371

 

$

1,202

 

$

1,182

 

$

1,223

 

$

1,578

 

$

1,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3) (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

5,084

 

$

4,916

 

$

4,548

 

$

4,411

 

$

4,184

 

$

3,928

 

$

3,622

 

$

2,515

 

Latin America

 

1,466

 

1,386

 

1,365

 

1,188

 

1,084

 

1,032

 

935

 

874

 

Asia (4)

 

386

 

383

 

338

 

306

 

304

 

301

 

272

 

269

 

Total

 

$

6,936

 

$

6,685

 

$

6,251

 

$

5,905

 

$

5,572

 

$

5,261

 

$

4,829

 

$

3,658

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

$

25

 

$

23

 

$

20

 

$

31

 

$

28

 

$

23

 

$

35

 

$

32

 

Global Consumer Banking

 

46

 

52

 

46

 

43

 

53

 

55

 

44

 

34

 

Citi Holdings

 

317

 

306

 

297

 

170

 

172

 

161

 

144

 

139

 

Corporate/Other

 

21

 

20

 

20

 

16

 

21

 

7

 

4

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL OTHER REAL ESTATE OWNED (OREO) (5)

 

$

409

 

$

401

 

$

383

 

$

260

 

$

274

 

$

246

 

$

227

 

$

209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

304

 

$

293

 

$

304

 

$

196

 

$

220

 

$

190

 

$

177

 

$

166

 

EMEA

 

50

 

44

 

18

 

7

 

1

 

1

 

1

 

1

 

Latin America

 

50

 

49

 

49

 

47

 

48

 

50

 

44

 

38

 

Asia

 

5

 

15

 

12

 

10

 

5

 

5

 

5

 

4

 

Total

 

$

409

 

$

401

 

$

383

 

$

260

 

$

274

 

$

246

 

$

227

 

$

209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

1,657

 

$

1,249

 

$

1,371

 

$

1,202

 

$

1,182

 

$

1,223

 

$

1,578

 

$

1,596

 

Consumer Non-Accrual Loans

 

6,936

 

6,685

 

6,251

 

5,905

 

5,572

 

5,261

 

4,829

 

3,658

 

Non-Accrual Loans (NAL)

 

8,593

 

7,934

 

7,622

 

7,107

 

6,754

 

6,484

 

6,407

 

5,254

 

OREO

 

409

 

401

 

383

 

260

 

274

 

246

 

227

 

209

 

Other Repossessed Assets

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Non-Accrual Assets (NAA)

 

$

9,002

 

$

8,335

 

$

8,005

 

$

7,367

 

$

7,028

 

$

6,730

 

$

6,634

 

$

5,463

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAL as a % of Total Loans

 

1.29

%

1.19

%

1.17

%

1.10

%

1.09

%

1.03

%

1.03

%

0.85

%

NAA as a % of Total Assets

 

0.48

%

0.44

%

0.43

%

0.40

%

0.38

%

0.37

%

0.37

%

0.32

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

220

%

225

%

222

%

225

%

216

%

217

%

213

%

240

%

 

(1)                                 Corporate loans are placed on non-accrual status based upon a review by Citigroup’s risk officers.  Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for Consumer loans: Consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency.  As such, the non-accrual loan disclosures do not include credit card loans.

(2)                                 The first, second and third quarters of 2015 reflect the transfers of non accrual loans to HFS resulting from the agreements to sell OneMain, Japan Retail and Japan Cards.

(3)                                 Excludes SOP 03-3 purchased distressed loans.

(4)                                 For reporting purposes, Asia includes the results of operations of EMEA GCB for all periods presented.

(5)                                 Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral.  Also includes former premises and property for use that is no longer contemplated.

(6)                                 There is no industry-wide definition of non-accrual assets.  As such, analysis against the industry is not always comparable.

(7)                                 The fourth quarter of 2015 decline includes the impact related to the transfer of approximately $8 billion of mortgage loans to Loans, held-for-sale (HFS) (included within Other assets on the GAAP balance sheet).

 

Reclassified to conform to the current period’s presentation.

 

33


 

NON-ACCRUAL ASSETS - PAGE 2

CITICORP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,407

 

$

1,212

 

$

1,414

 

$

998

 

$

878

 

$

574

 

$

758

 

$

644

 

$

852

 

$

732

 

$

746

 

$

694

 

EMEA

 

1,141

 

1,109

 

828

 

671

 

725

 

855

 

775

 

871

 

768

 

723

 

729

 

535

 

Latin America

 

434

 

403

 

371

 

299

 

210

 

198

 

156

 

123

 

121

 

102

 

132

 

131

 

Asia

 

356

 

339

 

300

 

308

 

472

 

448

 

311

 

333

 

299

 

267

 

262

 

270

 

Total

 

$

3,338

 

$

3,063

 

$

2,913

 

$

2,276

 

$

2,285

 

$

2,075

 

$

2,000

 

$

1,971

 

$

2,040

 

$

1,824

 

$

1,869

 

$

1,630

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

363

 

$

341

 

$

345

 

$

188

 

$

390

 

$

450

 

$

508

 

$

525

 

$

547

 

$

529

 

$

683

 

$

529

 

Latin America

 

622

 

658

 

570

 

724

 

785

 

772

 

902

 

932

 

980

 

1,214

 

1,199

 

1,251

 

Asia (4)

 

319

 

323

 

282

 

275

 

312

 

314

 

308

 

306

 

349

 

278

 

283

 

250

 

Total

 

$

1,304

 

$

1,322

 

$

1,197

 

$

1,187

 

$

1,487

 

$

1,536

 

$

1,718

 

$

1,763

 

$

1,876

 

$

2,021

 

$

2,165

 

$

2,030

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

$

743

 

$

769

 

$

764

 

$

23

 

$

7

 

$

12

 

$

9

 

$

7

 

$

2

 

$

4

 

$

3

 

$

13

 

Global Consumer Banking

 

14

 

15

 

19

 

20

 

18

 

18

 

21

 

27

 

29

 

30

 

36

 

38

 

Corporate/Other

 

14

 

16

 

13

 

15

 

14

 

10

 

10

 

1

 

6

 

9

 

20

 

20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL OTHER REAL ESTATE OWNED (OREO) (5)

 

$

771

 

$

800

 

$

796

 

$

58

 

$

39

 

$

40

 

$

40

 

$

35

 

$

37

 

$

43

 

$

59

 

$

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

734

 

$

764

 

$

771

 

$

37

 

$

23

 

$

17

 

$

17

 

$

17

 

$

14

 

$

13

 

$

23

 

$

15

 

EMEA

 

11

 

12

 

10

 

8

 

5

 

9

 

5

 

6

 

6

 

6

 

6

 

15

 

Latin America

 

14

 

14

 

8

 

4

 

4

 

8

 

11

 

11

 

15

 

23

 

23

 

35

 

Asia

 

12

 

10

 

7

 

9

 

7

 

6

 

7

 

1

 

2

 

1

 

7

 

6

 

Total

 

$

771

 

$

800

 

$

796

 

$

58

 

$

39

 

$

40

 

$

40

 

$

35

 

$

37

 

$

43

 

$

59

 

$

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

3,338

 

$

3,063

 

$

2,913

 

$

2,276

 

$

2,285

 

$

2,075

 

$

2,000

 

$

1,971

 

$

2,040

 

$

1,824

 

$

1,869

 

$

1,630

 

Consumer Non-Accrual Loans

 

1,304

 

1,322

 

1,197

 

1,187

 

1,487

 

1,536

 

1,718

 

1,763

 

1,876

 

2,021

 

2,165

 

2,030

 

Non-Accrual Loans (NAL)

 

4,642

 

4,385

 

4,110

 

3,463

 

3,772

 

3,611

 

3,718

 

3,734

 

3,916

 

3,845

 

4,034

 

3,660

 

OREO

 

771

 

800

 

796

 

58

 

39

 

40

 

40

 

35

 

37

 

43

 

59

 

71

 

Other Repossessed Assets

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

Non-Accrual Assets (NAA)

 

$

5,413

 

$

5,185

 

$

4,906

 

$

3,521

 

$

3,811

 

$

3,651

 

$

3,758

 

$

3,769

 

$

3,953

 

$

3,888

 

$

4,093

 

$

3,731

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAA as a % of Total Assets

 

0.34

%

0.32

%

0.30

%

0.22

%

0.23

%

0.22

%

0.22

%

0.23

%

0.24

%

0.23

%

0.24

%

0.22

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

425

%

419

%

410

%

460

%

410

%

402

%

376

%

369

%

343

%

329

%

310

%

339

%

 

See Notes (1) - (6) on page 33.

N/A Not applicable.

 

Reclassified to conform to the current period’s presentation.


 

NON-ACCRUAL ASSETS - PAGE 2

CITICORP

(In millions of dollars)

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

673

 

$

353

 

$

373

 

$

307

 

$

334

 

$

455

 

$

819

 

$

804

 

EMEA

 

433

 

350

 

283

 

246

 

268

 

344

 

350

 

309

 

Latin America

 

185

 

287

 

479

 

416

 

378

 

225

 

229

 

302

 

Asia

 

274

 

192

 

176

 

176

 

149

 

144

 

127

 

128

 

Total

 

$

1,565

 

$

1,182

 

$

1,311

 

$

1,145

 

$

1,129

 

$

1,168

 

$

1,525

 

$

1,543

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

469

 

$

430

 

$

442

 

$

467

 

$

351

 

$

374

 

$

363

 

$

456

 

Latin America

 

1,278

 

1,186

 

1,157

 

1,007

 

925

 

873

 

790

 

740

 

Asia (4)

 

250

 

280

 

293

 

265

 

269

 

269

 

243

 

252

 

Total

 

$

1,997

 

$

1,896

 

$

1,892

 

$

1,739

 

$

1,545

 

$

1,516

 

$

1,396

 

$

1,448

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICG

 

$

25

 

$

23

 

$

20

 

$

31

 

$

28

 

$

23

 

$

35

 

$

32

 

Global Consumer Banking

 

46

 

52

 

46

 

43

 

53

 

55

 

44

 

34

 

Corporate/Other

 

21

 

20

 

20

 

16

 

21

 

7

 

4

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL OTHER REAL ESTATE OWNED (OREO) (5)

 

$

92

 

$

95

 

$

86

 

$

90

 

$

102

 

$

85

 

$

83

 

$

70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

31

 

$

22

 

$

25

 

$

39

 

$

54

 

$

35

 

$

38

 

$

31

 

EMEA

 

16

 

16

 

6

 

1

 

1

 

1

 

1

 

1

 

Latin America

 

40

 

42

 

43

 

40

 

42

 

44

 

39

 

34

 

Asia

 

5

 

15

 

12

 

10

 

5

 

5

 

5

 

4

 

Total

 

$

92

 

$

95

 

$

86

 

$

90

 

$

102

 

$

85

 

$

83

 

$

70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

N/A

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

1,565

 

$

1,182

 

$

1,311

 

$

1,145

 

$

1,129

 

$

1,168

 

$

1,525

 

$

1,543

 

Consumer Non-Accrual Loans

 

1,997

 

1,896

 

1,892

 

1,739

 

1,545

 

1,516

 

1,396

 

1,448

 

Non-Accrual Loans (NAL)

 

3,562

 

3,078

 

3,203

 

2,884

 

2,674

 

2,684

 

2,921

 

2,991

 

OREO

 

92

 

95

 

86

 

90

 

102

 

85

 

83

 

70

 

Other Repossessed Assets

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Non-Accrual Assets (NAA)

 

$

3,654

 

$

3,173

 

$

3,289

 

$

2,974

 

$

2,776

 

$

2,769

 

$

3,004

 

$

3,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAA as a % of Total Assets

 

0.21

%

0.18

%

0.19

%

0.17

%

0.16

%

0.16

%

0.18

%

0.19

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

339

%

381

%

350

%

375

%

399

%

386

%

350

%

345

%

 

See Notes (1) - (6) on page 33.

N/A Not applicable.

 

Reclassified to conform to the current period’s presentation.

 

34


 

NON-ACCRUAL ASSETS - PAGE 3

CITI HOLDINGS

(In millions of dollars)

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

816

 

$

710

 

$

396

 

$

325

 

$

227

 

$

155

 

$

142

 

$

91

 

$

210

 

$

80

 

$

61

 

$

41

 

EMEA

 

1,135

 

890

 

791

 

599

 

446

 

364

 

336

 

324

 

312

 

314

 

300

 

277

 

Latin America

 

178

 

133

 

81

 

68

 

60

 

16

 

4

 

2

 

2

 

1

 

1

 

1

 

Asia

 

95

 

110

 

42

 

27

 

27

 

21

 

19

 

6

 

5

 

2

 

10

 

9

 

Total

 

$

2,224

 

$

1,843

 

$

1,310

 

$

1,019

 

$

760

 

$

556

 

$

501

 

$

423

 

$

529

 

$

397

 

$

372

 

$

328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3) (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

6,705

 

$

5,784

 

$

5,609

 

$

5,702

 

$

6,310

 

$

5,953

 

$

7,192

 

$

6,625

 

$

5,642

 

$

5,067

 

$

4,661

 

$

4,710

 

Latin America

 

388

 

417

 

376

 

377

 

386

 

381

 

363

 

356

 

326

 

204

 

192

 

169

 

Asia (4)

 

830

 

804

 

668

 

507

 

494

 

416

 

416

 

392

 

258

 

220

 

159

 

136

 

Total

 

$

7,923

 

$

7,005

 

$

6,653

 

$

6,586

 

$

7,190

 

$

6,750

 

$

7,971

 

$

7,373

 

$

6,226

 

$

5,491

 

$

5,012

 

$

5,015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region (5):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

590

 

$

470

 

$

443

 

$

397

 

$

363

 

$

344

 

$

292

 

$

282

 

$

270

 

$

254

 

$

271

 

$

289

 

EMEA

 

129

 

121

 

69

 

64

 

134

 

118

 

105

 

93

 

79

 

71

 

56

 

44

 

Latin America

 

37

 

41

 

49

 

47

 

44

 

40

 

37

 

30

 

25

 

23

 

16

 

12

 

Asia

 

50

 

—

 

—

 

—

 

—

 

—

 

—

 

1

 

—

 

1

 

1

 

—

 

Total

 

$

806

 

$

632

 

$

561

 

$

508

 

$

541

 

$

502

 

$

434

 

$

406

 

$

374

 

$

349

 

$

344

 

$

345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

2,224

 

$

1,843

 

$

1,310

 

$

1,019

 

$

760

 

$

556

 

$

501

 

$

423

 

$

529

 

$

397

 

$

372

 

$

328

 

Consumer Non-Accrual Loans

 

7,923

 

7,005

 

6,653

 

6,586

 

7,190

 

6,750

 

7,971

 

7,373

 

6,226

 

5,491

 

5,012

 

5,015

 

Non-Accrual Loans (NAL)

 

10,147

 

8,848

 

7,963

 

7,605

 

7,950

 

7,306

 

8,472

 

7,796

 

6,755

 

5,888

 

5,384

 

5,343

 

OREO

 

806

 

632

 

561

 

508

 

541

 

502

 

434

 

406

 

374

 

349

 

344

 

345

 

Other Repossessed Assets

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

Non-Accrual Assets (NAA)

 

$

10,953

 

$

9,480

 

$

8,524

 

$

8,113

 

$

8,491

 

$

7,808

 

$

8,906

 

$

8,202

 

$

7,129

 

$

6,237

 

$

5,728

 

$

5,688

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAA as a % of Total Assets

 

3.20

%

3.02

%

2.89

%

2.96

%

3.28

%

3.23

%

3.92

%

3.89

%

3.56

%

3.50

%

3.35

%

3.47

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

166

%

181

%

191

%

187

%

171

%

179

%

141

%

150

%

152

%

152

%

150

%

135

%

 

See Notes (1) - (7) on page 33.

N/A Not applicable.

 

Reclassified to conform to the current period’s presentation.


 

NON-ACCRUAL ASSETS - PAGE 3

CITI HOLDINGS

(In millions of dollars)

 

 

 

 

1Q

 

2Q

 

3Q

 

4Q

 

1Q

 

2Q

 

3Q

 

4Q

 

 

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Loans (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans By Region (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

17

 

$

15

 

$

12

 

$

14

 

$

13

 

$

12

 

$

14

 

$

14

 

EMEA

 

65

 

44

 

41

 

39

 

37

 

41

 

36

 

38

 

Latin America

 

1

 

1

 

1

 

1

 

1

 

1

 

1

 

1

 

Asia

 

9

 

7

 

6

 

3

 

2

 

1

 

2

 

—

 

Total

 

$

92

 

$

67

 

$

60

 

$

57

 

$

53

 

$

55

 

$

53

 

$

53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer Non-Accrual Loans By Region (2) (3) (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

4,615

 

$

4,486

 

$

4,106

 

$

3,944

 

$

3,833

 

$

3,554

 

$

3,259

 

$

2,059

 

Latin America

 

188

 

200

 

208

 

181

 

159

 

159

 

145

 

134

 

Asia (4)

 

136

 

103

 

45

 

41

 

35

 

32

 

29

 

17

 

Total

 

$

4,939

 

$

4,789

 

$

4,359

 

$

4,166

 

$

4,027

 

$

3,745

 

$

3,433

 

$

2,210

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OREO By Region (5):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

273

 

$

271

 

$

279

 

$

157

 

$

166

 

$

155

 

$

139

 

$

135

 

EMEA

 

34

 

28

 

12

 

6

 

—

 

—

 

—

 

—

 

Latin America

 

10

 

7

 

6

 

7

 

6

 

6

 

5

 

4

 

Asia

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Total

 

$

317

 

$

306

 

$

297

 

$

170

 

$

172

 

$

161

 

$

144

 

$

139

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Repossessed Assets

 

N/A

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Assets (NAA) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Non-Accrual Loans

 

$

92

 

$

67

 

$

60

 

$

57

 

$

53

 

$

55

 

$

53

 

$

53

 

Consumer Non-Accrual Loans

 

4,939

 

4,789

 

4,359

 

4,166

 

4,027

 

3,745

 

3,433

 

2,210

 

Non-Accrual Loans (NAL)

 

5,031

 

4,856

 

4,419

 

4,223

 

4,080

 

3,800

 

3,486

 

2,263

 

OREO

 

317

 

306

 

297

 

170

 

172

 

161

 

144

 

139

 

Other Repossessed Assets

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Non-Accrual Assets (NAA)

 

$

5,348

 

$

5,162

 

$

4,716

 

$

4,393

 

$

4,252

 

$

3,961

 

$

3,630

 

$

2,402

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAA as a % of Total Assets

 

3.32

%

3.27

%

3.23

%

3.18

%

3.27

%

3.19

%

3.10

%

2.97

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses as a % of NAL

 

136

%

127

%

129

%

123

%

96

%

98

%

98

%

101

%

 

See Notes (1) - (7) on page 33.

N/A Not applicable.

 

Reclassified to conform to the current period’s presentation.

 

35


 

CITIGROUP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions of dollars, except per share amounts and ratios)

 

 

 

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

Common Equity Tier 1 Capital Ratio and Components

 

2011

 

2011

 

2011

 

2011

 

2012

 

2012

 

2012

 

2012

 

2013

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citigroup Common Stockholders’ Equity(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

186,155

 

$

189,854

 

$

191,311

 

Add: Qualifying noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

171

 

164

 

161

 

Regulatory Capital Adjustments and Deductions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated net unrealized losses on cash flow hedges, net of tax(3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,293

)

(2,168

)

(1,671

)

Cumulative unrealized net gain related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

587

 

361

 

524

 

Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill, net of related deferred tax liabilities (DTLs)(5)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25,488

 

25,206

 

24,553

 

Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,632

 

5,329

 

5,057

 

Defined benefit pension plan net assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

732

 

498

 

876

 

Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29,100

 

28,000

 

27,945

 

Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs(6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21,940

 

21,834

 

17,193

 

Common Equity Tier 1 Capital (CET1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

105,140

 

$

110,958

 

$

116,995

 

Risk-Weighted Assets (RWA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

1,205,820

 

$

1,191,233

 

$

1,167,399

 

Common Equity Tier 1 Capital Ratio (CET1/RWA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.72

%

9.31

%

10.02

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplementary Leverage Ratio

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (CET1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

116,995

 

Additional Tier 1 Capital (AT1)(7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,434

 

Total Tier 1 Capital (T1C) (CET1 + AT1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

122,429

 

Total Leverage Exposure (TLE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

2,410,941

 

Supplementary Leverage Ratio (T1C/TLE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.08

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tangible Common Equity and Tangible Book Value Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity

 

$

170,495

 

$

175,806

 

$

176,799

 

$

177,213

 

$

181,198

 

$

183,258

 

$

186,150

 

$

186,155

 

$

189,855

 

$

191,272

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

26,339

 

26,621

 

25,496

 

25,413

 

25,810

 

25,483

 

25,915

 

25,673

 

25,474

 

24,896

 

Intangible assets (other than MSRs)

 

7,280

 

7,136

 

6,800

 

6,600

 

6,413

 

6,156

 

5,963

 

5,697

 

5,457

 

4,981

 

Goodwill and Intangible assets (other than MSRs) related to assets held-for-sale

 

165

 

—

 

—

 

—

 

—

 

—

 

37

 

32

 

2

 

267

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Deferred Taxes - Related to Goodwill and Intangible Assets Above

 

53

 

50

 

47

 

44

 

41

 

38

 

35

 

32

 

—

 

—

 

Tangible Common Equity (TCE)

 

$

136,658

 

$

141,999

 

$

144,456

 

$

145,156

 

$

148,934

 

$

151,581

 

$

154,200

 

$

154,721

 

$

158,922

 

$

161,128

 

Common Shares Outstanding (CSO)

 

2,920.6

 

2,917.9

 

2,923.7

 

2,923.9

 

2,932.2

 

2,932.5

 

2,932.5

 

3,028.9

 

3,042.9

 

3,041.0

 

Tangible Book Value Per Share (TCE/CSO)

 

$

46.79

 

$

48.66

 

$

49.41

 

$

49.64

 

$

50.79

 

$

51.69

 

$

52.58

 

$

51.08

 

$

52.23

 

$

52.99

 

 

(1)                                 Not Used.

(2)                                 Excludes issuance costs related to preferred stock outstanding in accordance with Federal Reserve Board regulatory reporting requirements.

(3)                                 Common Equity Tier 1 Capital is adjusted for accumulated net unrealized gains (losses) on cash flow hedges included in accumulated other comprehensive income that relate to the hedging of items not recognized at fair value on the balance sheet.

(4)                                 The cumulative impact of changes in Citigroup’s own creditworthiness in valuing liabilities for which the fair value option has been elected and own-credit valuation adjustments on derivatives are excluded from Common Equity Tier 1 Capital, in accordance with the U.S. Basel III rules.

(5)                                 Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6)                                 Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. Commencing with March 31, 2015 and for the quarterly reporting periods thereafter, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation, while at December 31, 2014 and prior, the deduction related to all three assets which exceeded both the 10% and 15% limitations.

(7)                                 Additional Tier 1 Capital primarily includeds qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

 

Reclassified to conform to the current period’s presentation.


 

CITIGROUP

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(In millions of dollars, except per share amounts and ratios)

 

 

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

March 31,

 

June 30,

 

September 30,

 

Common Equity Tier 1 Capital Ratio and Components

 

2013

 

2013

 

2014

 

2014

 

2014

 

2014

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Citigroup Common Stockholders’ Equity(2)

 

$

195,316

 

$

197,347

 

$

201,003

 

$

202,165

 

$

203,077

 

$

199,841

 

$

202,782

 

$

205,610

 

$

205,772

 

Add: Qualifying noncontrolling interests

 

172

 

182

 

177

 

183

 

172

 

165

 

146

 

146

 

147

 

Regulatory Capital Adjustments and Deductions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated net unrealized losses on cash flow hedges, net of tax(3)

 

(1,341

)

(1,245

)

(1,127

)

(1,007

)

(979

)

(909

)

(823

)

(731

)

(542

)

Cumulative unrealized net gain related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax(4)

 

339

 

177

 

170

 

116

 

193

 

279

 

332

 

474

 

717

 

Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill, net of related deferred tax liabilities (DTLs)(5)

 

24,721

 

24,518

 

24,314

 

24,465

 

23,678

 

22,805

 

22,448

 

22,312

 

21,732

 

Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs

 

4,966

 

4,950

 

4,692

 

4,506

 

4,307

 

4,373

 

4,184

 

4,153

 

3,911

 

Defined benefit pension plan net assets

 

954

 

1,125

 

1,178

 

1,066

 

1,179

 

936

 

897

 

815

 

904

 

Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards

 

28,003

 

26,438

 

26,489

 

25,139

 

24,654

 

23,626

 

23,190

 

23,760

 

23,295

 

Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs(6)

 

16,525

 

16,217

 

13,779

 

12,725

 

11,670

 

12,299

 

10,755

 

9,538

 

9,451

 

Common Equity Tier 1 Capital (CET1)

 

$

121,321

 

$

125,349

 

$

131,685

 

$

135,338

 

$

138,547

 

$

136,597

 

$

141,945

 

$

145,435

 

$

146,451

 

Risk-Weighted Assets (RWA)

 

$

1,158,722

 

$

1,185,443

 

$

1,260,133

 

$

1,280,845

 

$

1,301,660

 

$

1,292,605

 

$

1,283,758

 

$

1,278,593

 

$

1,254,473

 

Common Equity Tier 1 Capital Ratio (CET1/RWA)

 

10.47

%

10.57

%

10.45

%

10.57

%

10.64

%

10.57

%

11.06

%

11.37

%

11.67

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplementary Leverage Ratio

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (CET1)

 

$

121,321

 

$

125,349

 

$

131,685

 

$

135,338

 

$

138,547

 

$

136,597

 

$

141,945

 

$

145,435

 

$

146,451

 

Additional Tier 1 Capital (AT1)(7)

 

6,362

 

7,815

 

8,279

 

10,012

 

10,010

 

11,469

 

12,960

 

14,956

 

15,548

 

Total Tier 1 Capital (T1C) (CET1 + AT1)

 

$

127,683

 

$

133,164

 

$

139,964

 

$

145,350

 

$

148,557

 

$

148,066

 

$

154,905

 

$

160,391

 

$

161,999

 

Total Leverage Exposure (TLE)

 

$

2,432,254

 

$

2,456,105

 

$

2,454,621

 

$

2,498,061

 

$

2,485,082

 

$

2,492,636

 

$

2,406,286

 

$

2,386,189

 

$

2,363,506

 

Supplementary Leverage Ratio (T1C/TLE)

 

5.25

%

5.42

%

5.70

%

5.82

%

5.98

%

5.94

%

6.44

%

6.72

%

6.85

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tangible Common Equity and Tangible Book Value Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity

 

$

195,256

 

$

197,254

 

$

200,898

 

$

202,048

 

$

202,960

 

$

199,717

 

$

202,652

 

$

205,472

 

$

205,630

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

25,098

 

25,009

 

25,008

 

25,087

 

24,500

 

23,592

 

23,150

 

23,012

 

22,444

 

Intangible assets (other than MSRs)

 

4,888

 

5,056

 

4,891

 

4,702

 

4,525

 

4,566

 

4,244

 

4,071

 

3,880

 

Goodwill and Intangible assets (other than MSRs) related to assets held-for-sale

 

267

 

—

 

—

 

116

 

—

 

71

 

297

 

274

 

345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Deferred Taxes - Related to Goodwill and Intangible Assets Above

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Tangible Common Equity (TCE)

 

$

165,003

 

$

167,189

 

$

170,999

 

$

172,143

 

$

173,935

 

$

171,488

 

$

174,961

 

$

178,115

 

$

178,961

 

Common Shares Outstanding (CSO)

 

3,033.0

 

3,029.2

 

3,037.8

 

3,031.8

 

3,029.5

 

3,023.9

 

3,034.1

 

3,009.8

 

2,979.0

 

Tangible Book Value Per Share (TCE/CSO)

 

$

54.40

 

$

55.19

 

$

56.29

 

$

56.78

 

$

57.41

 

$

56.71

 

$

57.66

 

$

59.18

 

$

60.07

 

 

(1)                                 Not Used.

(2)                                 Excludes issuance costs related to preferred stock outstanding in accordance with Federal Reserve Board regulatory reporting requirements.

(3)                                 Common Equity Tier 1 Capital is adjusted for accumulated net unrealized gains (losses) on cash flow hedges included in accumulated other comprehensive income that relate to the hedging of items not recognized at fair value on the balance sheet.

(4)                                 The cumulative impact of changes in Citigroup’s own creditworthiness in valuing liabilities for which the fair value option has been elected and own-credit valuation adjustments on derivatives are excluded from Common Equity Tier 1 Capital, in accordance with the U.S. Basel III rules.

(5)                                 Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6)                                 Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. Commencing with March 31, 2015 and for the quarterly reporting periods thereafter, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation, while at December 31, 2014 and prior, the deduction related to all three assets which exceeded both the 10% and 15% limitations.

(7)                                 Additional Tier 1 Capital primarily includeds qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

 

Reclassified to conform to the current period’s presentation.


 

CITIGROUP

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(In millions of dollars, except per share amounts and ratios)

 

 

 

December 31,

 

Common Equity Tier 1 Capital Ratio and Components

 

2015

 

 

 

 

 

Citigroup Common Stockholders’ Equity(2)

 

$

205,286

 

Add: Qualifying noncontrolling interests

 

145

 

Regulatory Capital Adjustments and Deductions:

 

 

 

Less:

 

 

 

Accumulated net unrealized losses on cash flow hedges, net of tax(3)

 

(617

)

Cumulative unrealized net gain related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax(4)

 

441

 

Intangible Assets:

 

 

 

Goodwill, net of related deferred tax liabilities (DTLs)(5)

 

21,980

 

Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs

 

3,586

 

Defined benefit pension plan net assets

 

794

 

Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards

 

23,659

 

Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs(6)

 

8,723

 

Common Equity Tier 1 Capital (CET1)

 

$

146,865

 

Risk-Weighted Assets (RWA)

 

$

1,216,277

 

Common Equity Tier 1 Capital Ratio (CET1/RWA)

 

12.07

%

 

 

 

 

Supplementary Leverage Ratio

 

 

 

 

 

 

 

Common Equity Tier 1 Capital (CET1)

 

$

146,865

 

Additional Tier 1 Capital (AT1)(7)

 

17,171

 

Total Tier 1 Capital (T1C) (CET1 + AT1)

 

$

164,036

 

Total Leverage Exposure (TLE)

 

$

2,317,849

 

Supplementary Leverage Ratio (T1C/TLE)

 

7.08

%

 

 

 

 

Tangible Common Equity and Tangible Book Value Per Share

 

 

 

 

 

 

 

Common Equity

 

$

205,139

 

Less:

 

 

 

Goodwill

 

22,349

 

Intangible assets (other than MSRs)

 

3,721

 

Goodwill and Intangible assets (other than MSRs) related to assets held-for-sale

 

68

 

 

 

 

 

Net Deferred Taxes - Related to Goodwill and Intangible Assets Above

 

—

 

Tangible Common Equity (TCE)

 

$

179,001

 

Common Shares Outstanding (CSO)

 

2,953.3

 

Tangible Book Value Per Share (TCE/CSO)

 

$

60.61

 

 

(1)                                 Not Used.

(2)                                 Excludes issuance costs related to preferred stock outstanding in accordance with Federal Reserve Board regulatory reporting requirements.

(3)                                 Common Equity Tier 1 Capital is adjusted for accumulated net unrealized gains (losses) on cash flow hedges included in accumulated other comprehensive income that relate to the hedging of items not recognized at fair value on the balance sheet.

(4)                                 The cumulative impact of changes in Citigroup’s own creditworthiness in valuing liabilities for which the fair value option has been elected and own-credit valuation adjustments on derivatives are excluded from Common Equity Tier 1 Capital, in accordance with the U.S. Basel III rules.

(5)                                 Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6)                                 Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. Commencing with March 31, 2015 and for the quarterly reporting periods thereafter, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation, while at December 31, 2014 and prior, the deduction related to all three assets which exceeded both the 10% and 15% limitations.

(7)                                 Additional Tier 1 Capital primarily includeds qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

 

Reclassified to conform to the current period’s presentation.

 

36

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