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First Quarter 2012 Earnings Review

April 16, 2012

Highlights
Strong financial results in 1Q12
Global Consumer Banking positive operating leverage
Continued growth in Asia and Latin America
Credit quality remains stable internationally, improving in North America
Transaction Services record revenues with positive operating leverage
Driven by strong growth in global trade finance
Securities & Banking highest quarterly revenues in 2 years
Strong performance in Fixed Income
Rebound in Equities
Improving share in Investment Banking

Citi Holdings continues to decline 11% of Citigroup assets


Substantial and growing capital strength
Basel I Tier 1 common ratio of 12.4%(1)

Basel III Tier 1 common ratio of 7.2%(2), expect to exceed 8% by year end
Note:
(1)
Preliminary.
(2)
Estimated. Throughout this presentation, comments on Citis capital levels under Basel III are based on Citis current expectations and understanding of Basel III
requirements and are subject to final regulatory clarity and rulemaking, model calibration, and other final implementation guidance.

1
2

Significant P&L Items


1Q12

($MM)

4Q11

1Q11

Revenue Items:
Citigroup CVA / DVA(1)
Net Gain on Minority Investments
Total

(2)

$(1,288)

$(40)

$(256)

477

(811)

(40)

(256)

$545

$832

$531

66

428

35

$611

$1,260

$566

Expense Items:
Legal and Related Costs
Repositioning Charges

Total

Note: All items above are pre-tax.


(1)
Credit valuation adjustment (CVA) on derivatives, net of hedges, and debt valuation adjustment (DVA) on Citigroup's fair value option debt.
(2)
As previously disclosed, includes pre-tax gains on the sale of Citis remaining minority interest in the Housing Development Finance Corporation Ltd. (HDFC) and its
minority interest in Shanghai Pudong Development Bank (SPDB) of $1.1B and $542MM, respectively, as well as a pre-tax impairment charge related to its minority
interest in Akbank T.A.S. (Akbank) of $1.2B, each recorded in Corporate / Other.

2
3

Citigroup Summary Income Statement


($MM, except EPS)

1Q'12

4Q'11

1Q'11

%rQoQ

%rYoY

$19,406

$17,174

$19,726

13%

(2)%

$20,217

$17,214

$19,982

17%

1%

Operating Expenses

12,319

13,211

12,326

(7)%

(0)%

Net Credit Losses


Net LLR Build / (Release)(1)
PB&C
Credit Losses, Claims and Benefits

3,955
(1,165)

4,108
(1,468)

6,269
(3,345)

(4)%
21%

(37)%
65%

229
3,019

234
2,874

260
3,184

(2)%
5%

(12)%
(5)%

Earnings Before Taxes

4,068

1,089

4,216

NM

(4)%

Income Taxes

1,006

91

1,185

NM

(15)%

$2,931

$956

$2,999

NM

(2)%

$0.95
1.22

$0.31
0.32

$0.99
1.04

NM
NM

(4)%
17%

1.11

0.32

1.04

NM

7%

$1,945
648
906

$1,874
647
866

$1,948
637
866

4%
0%
5%

(0)%
2%
5%

Revenues
Revenues (ex-CVA / DVA & Net Gain)

Net Income
Diluted EPS:
Reported
Ex-CVA / DVA(2)
Ex-CVA / DVA & Net Gain (3)
EOP Assets ($B)
EOP Loans ($B)
EOP Deposits ($B)
Note:
(1)
(2)
(3)

Totals may not sum due to rounding.


Includes provision for unfunded lending commitments.
Citigroup pre-tax CVA / DVA recorded in Securities and Banking and Special Asset Pool totaled $(1,288)MM, $(40)MM, and $(256)MM in 1Q12, 4Q11, and
1Q11, respectively. Please refer to Slide 27. Assumes tax rates of 37.9%, 45.8%, and 38.2% for 1Q12, 4Q11, and 1Q11, respectively.
For more details on the pre-tax gains / (losses) on minority investments in 1Q12, please refer to Slide 3, Footnote 2. Assumes tax rate on gain of 34.9% in 1Q12.

3
4

Citicorp & Citi Holdings Excluding CVA / DVA


($MM)

Citicorp

Citi Holdings

1Q'12

4Q'11

1Q'11

1Q'12

4Q'11

1Q'11

Revenues (ex-CVA / DVA)

$19,408

$15,777

$18,367

$786

$1,054

$1,676

Operating Expenses

10,305

10,844

10,236

1,219

1,855

1,443

Net Credit Losses


Net LLR Build / (Release)(1)
PB&C
Credit Losses, Claims and Benefits

2,220

2,595

3,250

1,734

1,512

3,018

EBT

(576)

(663)

55

171

188

204

1,837

1,498

1,329

1,037

1,685

7,413

3,096

6,633

(1,762)

(1,838)

(1,452)

5,191

2,366

4,598

(1,080)

(1,333)

(1,001)

$1,424

$1,365

$1,372

$209

$225

$295

EOP Loans ($B)

514

507

457

134

141

180

EOP Deposits ($B)

839

799

787

63

62

74

(ex-CVA / DVA)

Net Income (ex-CVA / DVA)


EOP Assets ($B)

(588)

(803)

58

45

1,690

(1,807)

(1,537)

Note: As noted, results exclude CVA / DVA for each period presented. For the Citicorp and Citi Holdings CVA / DVA amounts for each period, please refer to Slide 27.
Corporate / Other and Discontinued Operations, which had net income of $(380)MM in 1Q12, $(55)MM in 4Q11, and $(439)MM in 1Q11, are not shown. Corporate
/ Other assets were $312B in 1Q12, $284B in 4Q11, and $281B in 1Q11 (for more details, please refer to Slide 16).
(1)
Includes provision for unfunded lending commitments.

4
5

Citicorp Key Financial Metrics


($B)
Revenues (ex-CVA / DVA)
S&B CVA / DVA:
0.3
0.3
0.1

20.1

(1.0)

(0.2)

0.1

1.9

Expenses
(0.1) (1.4)

19.4
18.0 17.9 16.9 18.4 17.8 17.5
15.8
9.2

9.8

9.5

10.0

10.2 10.7 10.4 10.8 10.3

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Net Credit Losses and LLR(1)

Earnings Before Taxes (ex-CVA / DVA)

LLRs

4.6

4.3

4.2

3.8

3.3

3.0

2.6

NCLs

2.6

2.2

4.8
(0.4)

(0.9) (1.0) (1.0)


(1.8)

(1.4)

(0.9) (0.8) (0.6)

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

7.4

6.6

6.6

5.5

5.1

5.3

4.1
3.1

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Note:
(1)
Includes provision for unfunded lending commitments.

5
6

Global Consumer Banking Key Financial Metrics


($B)
EBT ex-LLR (12-Month Trailing)(1)

Revenues (Constant $)
International
North America
YoY Growth

10.0

9.9

3%

9.9

4%

9.7

9.4

5%
3%

9.5

International

9.9

10.0 10.0

7%

6%

North America

7%

7.9

4%

6.8

2%

0%

5%

6.0
5.3

(5%)

4.6
(3%) (7%)

(7%)

(8%)

(9%)
(13%)

3.0
0.3
2.7

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

3.5
0.4

3.1

3.8
0.3

4.0
0.1

0.6

3.5

3.9

4.0

1.2

4.1

3.2
2.3

1.7

4.3

4.6

4.4

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Note: Totals may not sum due to rounding.


(1)
EBT ex-LLR represents sum of income (loss) from continuing operations before taxes, credit reserve build / (release), and provision for unfunded lending commitments.

6
7

Citicorp North America Consumer Banking


($MM)
Revenues
Citi-Branded Cards
Citi Retail Services
Retail Banking

1Q'12

4Q'11

%r

1Q'11

%r

$5,198
2,068
1,502
1,628

$5,167
2,161
1,614
1,392

1%
(4)%
(7)%
17%

$4,943
2,204
1,551
1,188

5%
(6)%
(3)%
37%

2,341

2,672

(12)%

2,278

3%

802

968

(17)%

1,188

(32)%

N.I. from Cont. Ops.


Citi-Branded Cards
Citi Retail Services
Retail Banking

$1,317
607
379
331

$944
501
279
164

40%
21%
36%
102%

$937
477
375
85

41%
27%
1%
NM

EBT ex-LLR(1)

$1,214

$743

63%

$276

NM

116
$149
41

119
$147
37

(2)%
1%
9%

120
$144
32

(3)%
4%
27%

74
38

74
38

(1)%
(2)%

75
40

(2)%
(5)%

Expenses
Credit Costs

Key Indicators ($B)


Accounts (MM)
RB Avg. Deposits
RB Avg. Loans
Cards Avg. Loans
Citi-Branded Cards
Citi Retail Services
Purchase Sales
Citi-Branded Cards
Citi Retail Services

38
16

42
21

(9)%
(24)%

37
15

3%
2%

Revenues
Up YoY as higher mortgage revenues
offset spread compression in branded
cards due to look-back provisions of
CARD Act and higher promotional
balances, as well as lower average card
loans
Up slightly QoQ as higher mortgage
revenues offset seasonally lower card
volumes

Expenses
Higher YoY on higher investment
spending, partially offset by efficiency
savings and the absence of a litigation
reserve recorded in 1Q11
Lower QoQ given absence of interchange
litigation reserve recorded in 4Q11 and
seasonally lower marketing spend

Credit Costs
NCLs declined 31% YoY to $1.6B, driven
by improvement in cards
LLR release of $841MM in 1Q12,
compared to $1.2B in prior year

Note: Totals may not sum due to rounding. NM: Not meaningful.
(1)
EBT ex-LLR represents income (loss) from continuing operations before taxes, excluding credit reserve build / (release) and provision for unfunded lending commitments.

7
8

Citicorp International Consumer Banking


($MM)
Revenues
EMEA
Latin America
Asia
Expenses
Credit Costs
Net Income
EMEA
Latin America
Asia

1Q'12

4Q'11

%r

1Q'11

%r

$4,816
378
2,441
1,997

$4,718
348
2,350
2,020

2%
9%
4%
(1)%

$4,611
421
2,294
1,896

4%
(10)%
6%
5%

2,869

2,906

(1)%

2,813

2%

799

787

2%

490

63%

$870
(8)
375
503

$778
(1)
369
410

12%
NM
2%
23%

$985
57
475
453

(12)%
NM
(21)%
11%

Product Revenues
Cards
Retail Banking

$1,926
2,890

$1,962
2,756

(2)%
5%

$1,865
2,746

3%
5%

EBT ex-LLR(1)

$1,254

$1,096

14%

$1,092

15%

83
$169
99
19
37
32

81
$166
94
13
36
33

2%
2%
5%
52%
4%
(3)%

78
$166
88
20
36
28

6%
2%
12%
(6)%
4%
12%

Key Indicators ($B)


Accounts (MM)
Avg. Deposits
RB Avg. Loans
Investment Sales
Cards Avg. Loans
Card Purchase Sales

Revenues
1Q12 reported YoY revenue growth
negatively impacted by FX in Latam and
EMEA
YoY (ex-FX): Total up 7%, with Latam
+11%, Asia +5%, and EMEA (6)%
Sustained YoY growth in accounts,
deposits, loans, and purchase sales
QoQ rebound in investment sales
reflecting improved investor sentiment

Expenses
YoY (ex-FX): Total up 5% on volumerelated growth, as incremental investment
spending was more than offset by
efficiency savings
Asia and Latam maintained positive YoY
operating leverage

Credit costs
NCLs declined 3% YoY
Net LLR build of $106MM driven by
portfolio growth, compared to LLR release
of $(216)MM in prior year

Note: Totals may not sum due to rounding. NM: Not meaningful.
(1)
EBT ex-LLR represents income (loss) from continuing operations before taxes, excluding credit reserve build / (release) and provision for unfunded lending
commitments.

8
9

Citicorp International Consumer Banking


($B)
Accounts (MM)

Average Loans & Deposits (Constant Dollar $B)


Avg Loans
83

76

76

78

77

78

80

81

81

153

111

156

112

160

116

160

118

Avg Deposits
164

167

165

121

124

126

168

169

133

136

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Sales (12-Month Trailing Constant Dollar $B)

Financial Metrics (12-Month Trailing $B)

Purchase Sales

100

103

105

Investment Sales

108

112

115

119

122

125
12.3

13.0

13.6

14.3

14.8

(1)

EBT ex-LLR
72

70

69

72

74

74

2.7

71
64

3.1

3.5

3.9

4.0

15.5

16.0

NCM
4.1

16.2

16.4

4.4

4.6

(2)

4.3

63

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Note:
(1)
EBT ex-LLR represents income (loss) from continuing operations before taxes, excluding credit reserve build / (release) and provision for unfunded lending
commitments.
(2)
Net credit margin represents total revenues, net of interest expense, less net credit losses, and provision for benefits and claims.

9
10

Citicorp Securities and Banking


($MM)

1Q'12

4Q'11

%r

1Q'11

%r

$865

$638

36%

$851

902

232

289%

1,104 (18)%

4,737

1,717

176%

3,982

56

165

(66)%

576

517

11%

Product Revenues (ex-CVA / DVA)


Investment Banking
Equity Markets
Fixed Income Markets
Lending
Private Bank
Other

Ex-CVA / DVA: 6% YoY growth

(485)

(1)

NM

2%
19%

255 (78)%
520

11%

(461)

(5)%

Regional Revenues (ex-CVA / DVA)


North America
EMEA
Latin America
Asia
Total Revenues (ex-CVA / DVA)
CVA / DVA

Revenues

$1,977

$712

178% $2,392 (17)%

2,555

1,237

107%

2,202

16%

760

560

36%

581

31%

1,359

759

79%

1,076

26%

$6,651

$3,268

104% $6,251

6%

(1,376)

(74)

NM

(229)

NM

Investment Banking: Up YoY on


strong debt underwriting. QoQ
improvement driven by rebound in
debt and equity underwriting
Equity Markets: Up QoQ (ex-CVA /
DVA) driven by improvements in
derivatives and cash trading. Down
YoY on lower market volumes
Fixed Income: Higher YoY and QoQ
(ex-CVA / DVA) on strong growth in
rates and currencies

Expenses
Down 2% YoY driven by efficiency
savings

Credit Costs

Revenues

5,275

3,194

65%

6,022 (12)%

NCL reflects a net recovery

Expenses

3,707

3,736

(1)%

3,802

LLR build mainly driven by portfolio


growth

58

69

(16)%

Credit Costs
Net Income (ex-CVA / DVA)

$2,087

$(118)

NM

(187)
$1,844

(2)%
NM
13%

Note: Totals may not sum due to rounding.


NM: Not meaningful.

10
11

Citicorp Transaction Services


($MM)

1Q'12

Revenues

4Q'11

%r

1Q'11

%r

$2,743

$2,624

5%

$2,562

7%

North America
EMEA

641

605

6%

610

5%

894

858

4%

837

7%

Latin America

451

413

9%

417

8%

Asia

757

748

1%

698

8%

1,388

1,530

(9)%

1,343

3%

31

13

NM

NM

$921

$767

20%

$836

10%

North America

126

68

85%

106

19%

EMEA

315

283

11%

275

15%

Latin America

178

139

28%

172

3%

Asia

302

277

9%

283

7%

TTS(1)

2,054

1,965

5%

1,844

11%

(2)

689

659

5%

718

(4)%

Avg. Deposits (3) ($B)

377

369

2%

356

6%

EOP Assets Under


Custody ($T)

13.0

12.5

4%

13.0

0%

Expenses
Credit Costs
N.I. from Cont. Ops.

Revenues
TTS: Up YoY and QoQ on growth in
deposits and trade loans, partially
offset by continued low rate
environment
End of period trade loans up 59%
YoY and 12% QoQ

SFS: Down YoY on lower settlement


volumes, but up QoQ on rebound in
activity

Expenses
Up YoY on volume-related growth, as
incremental investment spending was
more than offset by efficiency savings
Achieved 4% positive operating
leverage YoY

Product Revenues
SFS

Key Indicators

Note:
(1)
(2)
(3)

Totals may not sum due to rounding. NM: Not meaningful.


TTS: Treasury and Trade Solutions.
SFS: Securities and Fund Services.
Average deposits and other customer liability balances.

11
12

Citi Holdings Key Financial Metrics


($B)
Revenues (ex-CVA / DVA)
CVA / DVA:
0.02 (0.05) 0.02 (0.06) (0.03) 0.02

0.05

Expenses
0.03 0.09

4.6
3.2
2.1

2.4

1.7

2.4
1.1

1.1

2.0
0.8

1.9

1.7

1.8

1.4

1.7

1.5

1.9

1.2

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Net Credit Losses and LLR(1)

Net Income (as Reported)

LLRs

0.3
3.8

3.6

3.5

3.1

3.0

2.2

1.9

NCLs

1.5

1.7

(0.6) (1.0)
(0.6) (0.5) (0.7) (0.6)
(1.2) (1.5)
1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

(0.7)
(0.8) (1.3)
(1.2) (1.3)
(1.5) (1.1) (1.0)

(1.0)

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Note:
(1)
Includes provision for unfunded lending commitments.

12
13

Citi Holdings Financials


($MM)

1Q'12

Revenues (ex-CVA / DVA)

$786

BAM
LCL
SAP

(46)
1,326
(494)

4Q'11

%r

1Q'11

%r

$1,054

(25)%

$1,676

(53)%

43

NM

137

NM

1,279

4%

1,519

(13)%

NM

20

NM

(268)

Expenses

1,219

1,855

(34)%

1,443

(16)%

Credit Costs

1,329

1,037

28%

1,685

(21)%

$(1,026)

$(1,315)

22%

$(1,018)

(1)%

BAM

(137)

(92)

(49)%

(12)

NM

LCL

(634)

(1,206)

47%

(1,009)

37%

SAP

(255)

(17)

NM

NM

EOP Deposits

$63

$62

3%

$74

(14)%

EOP Loans

134

141

(5)%

180

(26)%

LCL EOP Loans

129

135

(4)%

168

(23)%

Net Income

Key Indicators ($B)

Revenues
BAM: YoY reduction driven by lower
MSSB JV contribution and higher funding
costs
LCL: Down YoY driven by declining loan
balances
SAP: Lower YoY due to lower interest
earning assets and the absence of
positive PE marks recorded in prior
period. Reserve build in 1Q12 related to
private label mortgage securitizations

Expenses
Down YoY and QoQ on declining assets,
offset by higher legal and related
expenses

Credit Costs
NCLs at $1.7B, down YoY driven by SAP
and LCL. Up QoQ as incremental
mortgage charge-offs offset improvement
in credit trends(1)
LLR release of $0.6B, down YoY driven
by lower releases in SAP; includes
specific reserve releases related to
incremental mortgage charge-offs(1)

Note: As noted, revenues exclude CVA / DVA for each period presented. For Citi Holdings CVA / DVA amounts for each period, please refer to Slide 27. Totals may not
sum due to rounding. NM: Not meaningful.
(1)
1Q12 includes approximately $370MM of charge-offs related to previously deferred principal balances on modified mortgages, virtually all of which were offset by a
reserve release specific to the deferred principal amounts. Please also refer to Slide 20, Footnote 1.

13
14

Citi Holdings Asset Summary


EOP Assets ($B)

1Q12

4Q11

$26

$27

25

25

(2.9)

(17.8)

$147

$157

133

141

(5.7)

Mortgages
Personal
Other

104
10
5

108
11
6

(3.6)
(4.6)
(10.8)

Other Assets

14

17

(17.3)

14

16

(8.7)

$36

$41

9
3
4
12
8

10
4
5
14
8

$209

$225

Brokerage & Asset Mgmt.


(29)%

MSSB JV

295
265

Retail Alt. Investments

247
225

Local Consumer Lending


209

North America

%
(3.7) %

(6.0) %

Loans

International

Special Asset Pool


1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

13%

12%

11%

(7)%

(9)%

(7)%

% of Total Citigroup Assets


15%

14%

QoQ Decline (%)


(6)%

(10)%

Securities at HTM
Loans, Leases & LCs
Securities at AFS
Trading MTM
Other

Total

(12.8) %
(13.0)
(14.6)
(19.2)
(15.3)
(3.2)

(7.0) %

Note: Totals may not sum due to rounding.

14
15

Corporate / Other
($MM)

1Q'12

4Q'11

%r

1Q'11

Revenues

$500

$383

31%

$(61)

Expenses

795

512

55%

647

(295)

(129)

NM

(709)

$(312)

$(41)

NM

$(479)

35%

$312

$284

10%

$281

11%

Earnings Before Taxes


N.I. from Cont. Ops.

%r

Revenues: Higher YoY and QoQ driven


mainly by $1.7B gain on sales of HDFC
NM
and SPDB, partially offset by $1.2B
Akbank impairment(1)

23%

58% Expenses: Higher YoY and QoQ driven by

legal and related expenses

Balance Sheet (EOP $B)


Assets

Assets: Cash and deposits with banks


plus liquid AFS investments represent 82%
of Corporate / Other Assets

Note: Totals may not sum due to rounding.


NM: Not meaningful.
(1)
Please refer to Slide 3, Footnote 2.

15
16

Citigroup 1Q12 Expense Drivers (YoY)


($B)

0.7%
12.3

(0.5)

0.0

11.6
(0.1)

0.5

0.4

0.3

0.1

12.3

11.7

(0.6)

Core operating
variance: +$0.1B

1Q'11

Legal &
Related

.
Repositioning

FX

Adj.
Investments Efficiency
1Q'11
Saves
Constant $

All Other (1)


Operating

Adj.
1Q'12

Legal &
Related

,
Repositioning

1Q'12

Year-over-year, core operating expenses up 0.7% on a constant dollar basis


Note: Totals may not sum due to rounding.
(1)
Includes volumes, divestitures, and all other operating expenses.

16
17

Citigroup Net Credit Losses and Reserves


($B)

Net Credit Losses


8.4

8.0

7.7

Corporate

6.9

6.3

5.1

4.5

4.1

4.0

0.1

(0.2)

0.0

3Q'11

4Q'11

1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Consumer

Loan Loss Reserves(1)


1Q12 LLR ratio = 4.5%

(0.1)

(1.5)

(2.0)

(2.3)

(2.0)

(1.4)

(1.5)

(1.2)

(3.3)
1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

3.0

2.8

2.8

4.2

4.0

4.0

(1.2)

(1.2)
4Q'11

(1.3)
1Q'12

3Q'11

Note: Totals may not sum due to rounding.


(1)
Loan loss reserves include provision for unfunded lending commitments and credit reserve builds / (release).

17
18

Citigroup International Consumer Credit Trends


($B)
Citicorp Asia Consumer Banking
90+DPD

1.58%

NCL

Loans
EOP

Citicorp Latin America Consumer Banking

1Q11 4Q11 1Q12


$83.7 $87.2 $88.4

90+DPD

NCL

Loans
EOP

1Q11 4Q11 1Q12


$35.1 $37.3 $40.4

7.17%
1.42%

1.30%

6.19% 5.81%
5.51%

1.19%

4.87%
4.84% 4.64%
4.43%
4.31%

1.05% 1.05% 1.08% 0.96%


0.86%
0.71% 0.63% 0.61%
0.59%
0.57% 0.56%
0.52% 0.50% 0.53%

2.80% 2.63% 2.40%


2.02% 1.98% 1.93% 1.84% 1.70% 1.61%

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Citicorp EMEA Consumer Banking

Holdings International LCL

90+DPD
5.12%

NCL

Loans
EOP

1Q11 4Q11 1Q12


$7.4 $6.9 $7.4

4.88%

90+DPD

7.61%

3.52%
2.72%
2.48%

2.40%

Loans 1Q11 4Q11 1Q12


EOP
$18.1 $10.8 $10.2
Average $18.9 $14.4 $10.7

8.27%

4.14%

2.74%

NCL

7.32%

7.05%
6.32%

2.46% 2.70%

6.41%

5.91%

1.59% 1.62%
2.03% 1.85%
1.69% 1.60% 1.49%
1.42%

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

3.44%

6.43%
5.32%
3.91% 4.20%

2.94% 2.89% 3.00% 3.16% 3.21% 3.24%

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

18
19

Citi Holdings N.A. Mortgage Credit Trends


EOP Loans: 1Q11: $76.0

Residential 1st Mortgages ($B)

4Q11: $67.5

$9.56

1Q12: $65.0

90+DPD
$7.94

NCLs

$6.90
$5.56

$4.53

$3.93

$3.82

$4.08

$4.05
(1)

$0.75

$0.69

$0.59

$0.50

$0.55

$0.46

$0.44

$0.41

$0.75

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

EOP Loans: 1Q11: $44.4

Home Equity Loans ($B)

4Q11: $40.0

90+DPD
$1.39
$0.95

1Q'10

$1.37

$1.34

$1.31

2Q'10

$0.80

3Q'10

$0.77

4Q'10

NCLs

$1.18
$1.04

$0.86

1Q12: $38.6

$0.71

1Q'11

$0.63

2Q'11

$1.01

$1.01

$0.54

$0.53

$0.56

3Q'11

4Q'11

1Q'12

$0.91

S&P / Case-Shiller Home Price Index(2)

2.3%

3.8%

(1.3)%

(3.7)%

(4.8)%

(5.4)%

(3.7)%

(4.0)%

n/a

Note: Loans 90+ days past due exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies because the potential loss predominantly
resides with the U.S. agencies, and loans recorded at fair value.
(1)
1Q12 includes approximately $370MM of charge-offs related to previously deferred principal balances on modified mortgages, of which approximately $315MM was
attributable to residential first mortgages with the balance in home equity loans. Virtually all of these charge-offs were offset by a specific reserve release.
(2)
Year-over-year change in the S&P / Case-Shiller U.S. National Home Price Index. First quarter 2012 not yet available.

19
20

(1)

Citigroup Key Capital Metrics


Tier 1 Capital

14.9%
11.3%

9.1%

15.6%
12.0%

9.7%

16.1%
12.5%

Total Capital

Tier 1 Common

TBV/Share

16.6%

17.0%

17.2%

16.9%

17.0%

12.9%

13.3%

13.6%

13.5%

13.5%

11.3%

11.6%

11.7%

11.8%

10.3%

10.8%

(1)

17.6%
14.2%

12.4%

$40.90

$41.86

$44.42

$44.55

$46.87

$48.75

$49.50

$49.74

$50.90

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

$978

$992

$993

$984

$973

$978

Risk-Weighted Assets ($B)


$1,064

$1,025

$1,004

Note:
(1)
Tangible book value per share is a non-GAAP financial measure. For a reconciliation of this metric to the most directly comparable GAAP measure, please refer to
Slide 45.
(2)
Preliminary.

20
21

(2)

Conclusions
Solid quarterly results
Global Consumer Banking our largest business
Continued growth in revenues, income and key drivers
Positive operating leverage achieved for 2 consecutive quarters

Transaction Services record revenues and positive operating


leverage
Strong growth in trade where our global footprint gives us a unique advantage

Securities & Banking improved performance in 1Q12


Fixed Income continues to perform well
Rebound in Equities
Early momentum in Investment Banking franchise

Maintaining focus on operating expenses


Citi Holdings wind down continues
Macro outlook improved but uncertainty persists
Remain very focused on serving clients while managing risk
21
22

APPENDIX
Table of Contents
24. Citigroup Net Interest Margin

25. Citigroup Regulatory Capital Drivers


26. Citigroup Return on Average TCE
27. Citigroup CVA / DVA
28. Citigroup Estimated FX Impact on Key
P&L Metrics
29. Citicorp International GCB Revenue
ex-FX
30. Citicorp Drivers in Constant $

36. Citigroup N.A. Consumer Mortgage


Credit Trends
37. Citigroup Mortgage Reps &
Warranties
38. Citigroup 1Q12 Additional Mortgage
Details

39. Citi Holdings N.A. Residential 1st


Mortgage Delinquencies
40. Citi Holdings N.A. Home Equity Loan
Delinquencies

31. Citicorp Drivers in Constant $ (contd) 41. Citicorp EM / DM Key Financial


Metrics
32. Citigroup 1Q12 Country Risk
Exposure Summary
42. Citi Holdings LCL EBT by Business
33. Citigroup 1Q12 Country Risk
43. Citi Holdings SAP Assets
Exposure Summary (contd)
44. Citi Holdings SAP AFS / HTM Assets
34. Citigroup International Consumer
45. Non-GAAP Financial Measures
Credit
35. Citicorp N.A. Cards Credit Trends

22
23

Citigroup Net Interest Margin


Average Interest-Earning Assets ($T)
3.32%

3.15%

NIM

3.06%

2.95%

2.88%

2.82%

2.83%

2.90%

2.90%

$1.78

$1.79

$1.71

$1.73

$1.72

$1.75

$1.72

$1.67

$1.68

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

(1)

Note:
(1)
Preliminary.

23
24

Citigroup Regulatory Capital Drivers


As of March 31, 2012 ($B)

Tier 1 Common Capital(1)

Risk-Weighted Assets(1)
Citicorp

182

Citi Holdings

149
(32)
14

122

19%

(41)

81%

1
2
Common
Goodwill
Stockholders
&
Equity
Intangibles

3
Tangible
Common
Equity

4
Excluded
DTA

5
Other

61
Tier
Common
Capital

Total: $978B

Note: Totals may not sum due to rounding.


(1)
Under Basel I. Preliminary.

31
24
25

Citigroup Return on Average TCE


1Q'12

4Q'11

Tangible Common Equity (1)


Citicorp & Corporate / Other
Citi Holdings

$121
28

$116
30

Citigroup

$149

$145

($B)

Adjusted Net Income (2)


Citicorp & Corporate / Other
Citi Holdings
Citigroup
Return on Average TCE
Citicorp & Corporate / Other
Citi Holdings
Citigroup

$4.5
(1.1)
$3.4

15.3%
(14.9)%
9.3%

Note: Totals may not sum due to rounding.


(1)
TCE allocated between Citicorp & Corporate / Other and Citi Holdings based on Basel I RWA. Tangible common equity is a non-GAAP financial metric.
Please refer to Slide 45.
(2)
Net income excluding CVA / DVA and the net gains on minority investments.

25
26

Citigroup CVA / DVA


($MM)
1Q12

4Q11

1Q11

Securities and Banking


DVA on Citi Liabilities at Fair Value
Derivatives CVA(1)
Total Securities and Banking CVA / DVA

$(1,252)

$43

$(111)

(123)

(116)

(118)

$(1,376)

$(74)

$(229)

$(10)

$(2)

$(2)

97

36

(25)

$88

$34

$(27)

$(1,288)

$(40)

$(256)

Special Asset Pool


DVA on Citi Liabilities at Fair Value
Derivatives CVA(1)
Total Special Asset Pool CVA / DVA
Total Citigroup CVA / DVA
Note: Totals may not sum due to rounding.
(1)
Net of hedges.

26
27

Citigroup Estimated FX Impact on Key P&L Metrics

Year-over-Year Impact ($B)

1Q11

2Q11

3Q11

4Q11

1Q12

Revenues

$0.3

$0.7

$0.4

$(0.3)

$(0.2)

Expenses

0.2

0.5

0.3

(0.2)

(0.1)

Cost of Credit

0.1

0.1

0.1

(0.0)

(0.0)

$(0.0)

$0.1

$0.1

$(0.1)

$(0.1)

Earnings Before Taxes


Note: Totals may not sum due to rounding.

27
28

Citicorp International GCB Revenue ex-FX

Revenues ($MM)
1Q12
Latin America
Asia
EMEA
International GCB

YoY (%)
Reported
Ex-FX

QoQ (%)
Reported
Ex-FX

$2,441

6%

11%

4%

0%

1,997

5%

5%

(1)%

(2)%

378

(10)%

(6)%

9%

6%

$4,816

4%

7%

2%

0%

Note: Totals may not sum due to rounding.

28
29

Citicorp Drivers in Constant Dollars

(1)

($B)
1Q12
YoY
QoQ

1Q12

4Q11

3Q11

2Q11

1Q11

Cards Avg Loans

20.0

19.8

19.4

19.4

19.5

2%

1%

Cards EOP Loans

19.6

20.1

19.3

19.3

19.0

3%

(3%)

RB Avg Loans

68.7

68.1

65.3

64.6

62.8

9%

1%

RB EOP Loans

68.8

68.3

67.0

64.8

63.4

8%

1%

Average Deposits

110.9

110.7

109.9

110.2

108.8

2%

0%

EOP Deposits

110.7

110.6

110.4

109.8

108.9

2%

0%

18.8

19.3

18.4

18.0

17.1

10%

(3%)

RB Investment Sales

8.4

6.1

8.4

10.4

11.3

(26%)

38%

RB Investment AUMs

47.9

45.7

45.2

50.5

50.5

(5%)

5%

Asia GCB

Cards Purchase Sales

1Q12
1Q12

4Q11

3Q11

2Q11

1Q11

Cards Avg Loans

14.4

14.0

13.1

12.9

12.7

13%

2%

Cards EOP Loans

14.3

14.3

13.5

12.9

12.6

14%

(0%)

RB Avg Loans

25.7

23.7

21.5

20.7

19.4

32%

8%

RB EOP Loans

26.1

25.2

22.9

21.2

20.2

29%

3%

Average Deposits

46.0

45.7

43.7

44.5

43.1

7%

1%

EOP Deposits

46.1

46.6

45.3

45.2

45.9

1%

(1%)

Cards Purchase Sales

10.2

11.1

9.9

9.1

8.6

18%

(9%)

RB Investment Sales

9.6

6.0

5.2

5.8

7.5

29%

62%

RB Investment AUMs

53.3

49.1

46.6

46.5

44.4

20%

9%

LATAM

Note:
(1)
Constant dollars based on March 31, 2012 foreign exchange rates.

YoY

QoQ

29
30

Citicorp Drivers in Constant Dollars

(1)

($B)
1Q12
YoY
QoQ

1Q12

4Q11

3Q11

2Q11

1Q11

Cards Avg Loans

2.8

2.8

2.7

2.7

2.7

7%

3%

Cards EOP Loans

2.9

2.9

2.8

2.8

2.7

7%

0%

RB Avg Loans

4.4

4.3

4.1

4.0

4.1

10%

4%

RB EOP Loans

4.5

4.4

4.4

4.3

4.2

8%

2%

Average Deposits

12.5

12.0

11.9

12.0

12.2

3%

4%

EOP Deposits

12.8

12.6

12.3

12.2

12.3

4%

1%

Cards Purchase Sales

2.7

2.7

2.6

2.6

2.3

16%

1%

RB Investment Sales

1.0

0.8

0.9

0.9

1.0

0%

21%

RB Investment AUMs

5.3

4.9

4.8

5.2

5.1

3%

7%

EMEA GCB

1Q12
ICG
GTS Avg Liability Balances
NA
EMEA
Latin America
Asia
ICG Average Loans
NA
EMEA
Latin America
Asia

1Q12

4Q11

3Q11

2Q11

1Q11

377.2
100.3
118.3
34.7
123.8
221.0
75.4
51.4
33.9
60.4

369.0
94.1
117.0
35.9
121.9
214.5
74.0
50.2
32.6
57.6

358.9
90.8
111.4
33.4
123.3
200.9
69.9
46.8
30.3
53.8

358.0
84.4
113.6
32.7
127.2
191.4
68.3
45.9
28.4
48.8

352.8
80.2
114.9
31.2
126.6
177.4
65.4
41.0
25.8
45.2

Note:
(1)
Constant dollars based on March 31, 2012 foreign exchange rates.

YoY
7%
25%
3%
11%
(2%)
25%
15%
25%
31%
34%

QoQ
2%
7%
1%
(4%)
2%
3%
2%
2%
4%
5%

30
31

Citigroup 1Q12 Country Risk Exposure Summary


($B)

GIIPS(1)

As of M arch 31, 2012


Gross Funded Credit Exposure

(2)

(1.1)

(0.1)

(2.1)

(0.0)

(7.7)

(0.2)

(2.5)

(0.4)

(0.4)

(8.8)

(0.3)

(4.6)

$6.0

$1.2

$0.5

$1.2

$0.3

$2.9

Net Trading and AFS Exposure

3.2

(0.0)

(0.1)

1.8

0.2

1.3

Net Current Funded Exposure

$9.1

$1.2

$0.4

$3.0

$0.4

$4.1

($3.6)

($1.1)

($0.2)

($0.7)

($0.1)

($1.5)

$0.8
1.7
3.5

$0.2
0.0
1.0

$0.0
(0.0)
0.4

$0.5
0.1
0.6

$0.0
(0.0)
0.2

$0.0
1.6
1.2

$6.0

$1.2

$0.5

$1.2

$0.3

$2.9

Less: Purchased Credit Protection

(4)

Net Current Funded Credit Exposure

Additional Collateral Received Not Netted

$0.8

(4.0)

(0.3)

(0.3)

(10.5)

(0.1)

(14.5)

$10.0

Portugal Spain
$7.5

(3)

$1.6

Italy

$0.6

Less: Margin and Collateral

$20.5

Greece Ireland

Net Current Funded Credit Exposure Detail:


Sovereigns
Financial Institutions
Corporations
Net Current Funded Credit Exposure

Note: Information based on Citis internal risk management measures.


(1)
Greece, Ireland, Italy, Portugal, and Spain.
(2)
Includes the net credit exposure arising from secured financing transactions, such as repos and reverse repos. Does not include unfunded commitments. For
additional details on unfunded commitments, see Slide 33.
(3)
Margin posted under legally-enforceable margin agreements and collateral pledged under bankruptcy-remote structures. Does not include collateral received on
secured financing transactions.
(4)
Credit protection purchased from financial institutions predominately outside of GIIPS. Credit protection may not be effective to protect against all types of losses
and thus Citi should still experience losses despite the existence of the credit protection.

31
32

Citigroup 1Q12 Country Risk Exposure Summary


($B)

As of M arch 31, 2012

GIIPS(1)

Greece Ireland

Italy

Portugal Spain

(1)

Sovereigns

$0.3

$0.0

$0.0

$0.0

$0.0

$0.3

Financial Institutions

0.3

0.0

0.0

0.1

0.0

0.2

Corporations

7.5

0.4

0.6

3.6

0.3

2.5

$8.1

$0.4

$0.6

$3.7

$0.4

$3.0

Unfunded Commitments
Note: Information based on Citis internal risk management measures.
(1)
Greece, Ireland, Italy, Portugal, and Spain.

32
33

Citigroup International Consumer Credit


1Q'12
Citicorp
Korea
Mexico
Australia
Singapore
Hong Kong
Brazil
India
Taiwan
Malaysia
Japan

Citi Holdings
Spain
UK
Japan
Greece

90+DPD Ratio

NCL Ratio

ENR

% of Total

% of Total

($B)

ENR

1Q'12

4Q'11

1Q'12

4Q'11

NCLs

$27.4
26.0
13.9
10.1
8.4
7.9
7.1
6.3
5.4
2.7

20.1%
19.1%
10.2%
7.4%
6.2%
5.8%
5.2%
4.6%
4.0%
2.0%
84.6%

0.4%
1.2%
1.0%
0.1%
0.1%
2.8%
0.6%
0.2%
1.4%
0.5%
0.8%

0.3%
1.3%
0.9%
0.1%
0.0%
3.0%
0.6%
0.2%
1.5%
0.5%
0.8%

0.8%
3.3%
1.6%
0.2%
0.3%
8.9%
0.6%
0.0%
0.8%
0.8%
1.9%

0.8%
3.3%
1.4%
0.3%
0.6%
8.3%
0.8%
(0.1)%
0.8%
2.8%
1.9%

8.1%
32.7%
8.6%
1.0%
0.8%
26.8%
1.8%
0.1%
1.8%
0.8%
82.4%

$3.0
2.4
1.9
1.5

30.0%
23.2%
18.5%
14.3%
86.0%

4.3%
3.8%
1.9%
6.8%
4.1%

4.3%
3.8%
1.9%
5.1%
3.7%

5.5%
1.2%
8.0%
19.5%
7.2%

5.3%
(0.4)%
9.6%
18.0%
7.1%

22.8%
3.9%
20.6%
38.9%
86.2%

Note: For 1Q12, Citicorp total end of period international consumer loans were $136.2B and total NCLs were $0.6B; Citi Holdings total end of period loans were $10.2B
and total NCLs were $0.2B. Citi Holdings includes international Local Consumer Lending.

33
34

Citicorp N.A. Cards Credit Trends


EOP Loans: 1Q11: $74.5

Citi-Branded Cards ($B)

4Q11: $77.2

1Q12: $72.7

90+DPD
10.50%

2.92%

1Q'10

10.61%

9.65%

8.67%

1Q'10

5.89%

5.26%

4.94%

2.32%

2.03%

1.93%

1.62%

1.42%

1.32%

1.35%

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

EOP Loans: 1Q11: $37.4

4Q11: $39.9

12.88%
11.40%

4.39%

6.71%

2.71%

Citi Retail Services ($B)


13.13%

7.30%

NCLs

1Q12: $36.7

90+DPD
10.90%

9.54%

NCLs

8.70%
7.19%

7.08%

7.11%

3.71%

3.55%

3.20%

2.97%

2.38%

2.38%

2.38%

2.30%

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

9.5%

9.4%

8.9%

9.1%

9.0%

8.5%

8.2%

Unemployment Rate
9.8%

9.4%

Source: U.S. Bureau of Labor Statistics

34
35

Citigroup N.A. Consumer Mortgage Credit Trends


Residential 1st Mortgages Citigroup ($B)

EOP Loans: 1Q11: $98.1

4Q11: $95.4

1Q12: $94.3

90+DPD

$9.61
$8.04

NCLs

$7.02
$5.70

$4.68

$4.08

$3.99

$4.27

$4.27
(1)

$0.75

$0.70

$0.60

$0.51

$0.57

$0.48

$0.46

$0.43

$0.77

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

Home Equity Loans Citigroup ($B)

EOP Loans: 1Q11: $48.2

4Q11: $43.5

90+DPD
$1.40
$0.95

1Q'10

$1.38
$0.86

2Q'10

$1.35
$0.80

3Q'10

$1.32
$0.78

4Q'10

$1.19
$0.72

1Q'11

1Q12: $42.0

NCLs

$1.05

$1.03

$1.02

$0.63

$0.55

$0.54

$0.57

2Q'11

3Q'11

4Q'11

1Q'12

$0.92

S&P / Case-Shiller Home Price Index(1)

2.3%

3.8%

(1.3)%

(3.7)%

(4.8)%

(5.4)%

(3.7)%

(4.0)%

n/a

Note: Loans 90+ days past due exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies because the potential loss predominantly
resides with the U.S. agencies, and loans recorded at fair value.
(1)
1Q12 includes approximately $370MM of charge-offs related to previously deferred principal balances on modified mortgages, of which approximately $315MM was
attributable to residential first mortgages with the balance in home equity loans. Virtually all of these charge-offs were offset by a specific reserve release.
(2)
Year-over-year change in the S&P / Case-Shiller U.S. National Home Price Index. First quarter 2012 not yet available.

35
36

(1)

Citigroup Mortgage Reps & Warranties


Claims(1)

Repurchases(2)

Repurchase Reserve Balance ($MM)

(Number of Loans 000)


= 43.8

$969

GSEs
Private Investors

16.0
13.0

4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12


6.8
0.2

$MM

8.3

Beginning balance

6.5

1.2

14.3
11.8

$1,376

= 14.8

1.7

1.2

2.9

7.1
3.6
2009 2010 2011 1Q12
Note:
(1)
(2)
(3)
(4)

$1,076 $1,188
$1,001
$944

2.5
0.2

2.3

3.7
0.2
3.5

4Q11

1Q12

$1,076

$1,188

305

335(4)

Losses realized

(200)

(153)

Ending balance

$1,188

$1,376

Additions for new sales(3)

6.6

1.8
0.1
1.7

2009 2010 2011 1Q12

Change in estimate(3)

Totals may not sum due to rounding.


Private investor claims include repurchase claims for repurchases of loans sold through private-label securitizations.
Includes loans repurchased and make-whole payments.
Flows through the profit and loss statement (contra-revenue item).
Includes $185MM related to loan sales to GSEs and private investors and $150MM related to loans sold through private-label securitizations.

36
37

Citigroup 1Q12 Additional Mortgage Details

Third party servicing portfolio: $382B


Retained rep & warranty liability for an additional $24B of sold servicing

Private label RMBS: $91B of total issuance during 2005-2008


CitiMortgage: $24.6B of issuance
Reduced by $13.5B of repayments and $1.1B of cumulative losses
(1)

Remaining $10.0B has 90+ day delinquency rate of 13.7%

Securities & Banking: $66.4B of issuance


Reduced by $34.7B of repayments and $9.1B of cumulative losses
(2)

Remaining $22.5B has 90+ day delinquency rate of 27.1%

$1.4B repurchase reserve for rep & warranty claims as of 1Q12


Note:
(1)
The $10B of outstanding CitiMortgage issuance is included in the $382B servicing portfolio above.
(2)
For legacy Securities and Banking issuances, fewer than 2% of mortgages outstanding were originated by Citi; fewer than 10% of mortgages outstanding are
serviced by Citi (such mortgages are included in the $382B servicing portfolio above).

37
38

Citi Holdings N.A. Mortgage Delinquencies


Residential 1st Mortgage Delinquencies(1) ($B)
Days Past Due:

180+

90-179

30-89

30+ DPD

14.46
12.48
11.42
6.02
5.00

9.75
4.34

7.83

7.38

7.32

7.47

7.08

2.92

2.54

2.39

2.51

2.64

1.61

1.39

1.43

1.58

1.41

3.50
3.54

2.94

2.56

2.06

4.91

4.54

4.52

4.19

3.30

3.45

3.49

3.39

3.03

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

Note: Totals may not sum due to rounding.


(1)
Days past due exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies, because the potential loss predominantly resides with the
U.S. agencies, and loans are recorded at fair value.

38
39

Citi Holdings N.A. Mortgage Delinquencies


Home Equity Loan Delinquencies(1) ($B)
Days Past Due:

180+

90-179

30-89

30+ DPD

2.80
2.60

2.59

2.50

0.35

0.34

0.33

0.35
1.04

2.15
0.32

1.02

1.00

0.98
0.86

1.41

1Q'10

1.23

2Q'10

1.25

3Q'10

1.19

4Q'10

1.93

1.92

1.87

0.32

0.31

0.32

1.65
0.33

0.72

0.71

0.68

0.58

0.97

0.90

0.91

0.86

0.74

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

Note: Totals may not sum due to rounding.


(1)
Days past due exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies, because the potential loss predominantly resides with the
U.S. agencies, and loans are recorded at fair value.

39
40

Citicorp EM / DM Key Financial Metrics


($B)

Emerging Markets

Developed Markets

Revenues (ex-CVA / DVA)


20

13

18

11

18

17

10

18

11

18

18

10

10

Earnings Before Taxes (ex-CVA / DVA)


19

16
8
8

11

7
5

5
2

7
4
1
3

7
5

6
3

3
1
3

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Average Deposits

Average Loans

730

729

747

764

771

790

786

786

802

428

434

436

439

446

344

356

350

347

356

410

412

427

429

320

317

320

335

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

425

421

426

481

494

438

470

509

449

263

267

274

278

207

214

220

231

266

258

254

255

257

159

163

172

183

192

1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12

Note: Totals may not sum due to rounding.

40
41

Citi Holdings LCL EBT by Business


($MM)

Earnings Before Taxes


1Q'12

4Q'11

3Q'11

2Q'11

1Q'11

$10
(1,144)
(17)
(12)
147
(173)

$94
(1,626)
(60)
9
147
(55)

$20
(1,360)
(25)
(15)
140
(139)

$75
(1,615)
(84)
(73)
31
(51)

$40
(1,162)
(90)
(34)
170
(62)

(1,189)

(1,489)

(1,378)

(1,717)

(1,138)

EMEA

(61)

(157)

(196)

(166)

(37)

Asia

170

26

(49)

(34)

(475)

(5)

(5)

$(1,922)

$(1,655)

Local Consumer Lending


- CitiFinancial N.A.
- Real Estate Lending
- Commercial Real Estate
- Student Loans
- Prime Re
- LCL N.A. Other
North America

Latin America
Local Consumer Lending

$(1,076)

$(1,618)

$(1,621)

Note: Totals may not sum due to rounding.

41
42

Citi Holdings SAP Assets


EOP Assets
($B)

1Q12

Total Securities at AFS / HTM


Loan, Leases & LC at HFI / HFS
Corporates
Commercial Real Estate

(1)

(2)

Other
Loan Loss Reserves
Trading Mark-to-Market
Subprime Securities
(3)
Other Securities
Derivatives
Loans, Leases and Letters of Credit
Repurchase Agreements

1Q12
Face EOP Assets
Value (% of Face)

4Q11

3Q11

2Q11

$13.2

$15.5

$17.1

$19.4

$17.6

75%

$3.1
2.0
0.9

$3.6
2.3
1.1

$4.4
2.6
1.7

$6.9
4.1
2.3

$3.5
2.1
0.9

89%
98%
98%

0.5
(0.3)

0.6
(0.4)

0.8
(0.6)

1.2
(0.6)

0.5
-

102%
NM

$11.7
0.1
3.0
5.0
1.4
2.2

$13.9
0.1
3.9
6.2
1.3
2.3

$14.9
0.1
4.0
6.7
1.7
2.4

$13.3
0.1
4.4
4.2
2.2
2.4

NM
1.0
14.0
NM
2.2
NM

NM
10%
21%
NM
65%
NM

Highly Lev. Fin. Commitments

0.1

0.2

0.2

0.5

0.1

81%

Equities (excludes ARS at AFS)

4.8

4.8

4.8

7.3

NM

NM

Consumer and Other(4)

3.1

3.3

3.9

5.5

NM

NM

$36.0

$41.3

$45.3

$52.9

Total

Note: Totals may not sum due to rounding. NM: Not meaningful. SAP had total CRE assets of $2.6B and Subprime assets of $0.6B as of 1Q12. Assets in the SIVs have
been allocated to their corresponding asset categories. Excludes Discontinued Operations.
(1)
HFS accounts for approximately $0.8B of the 1Q12 total.
(2)
Includes $0.2B of Leases and $0.1B of Subprime in 1Q12.
(3)
Includes $0.3B of Corporates, $1.7B of ARS, $0.2B of Equities, $0.2B of Subprime and $0.3B of CLOs in 1Q12.
(4)
Includes $0.4B of Small Business Banking & Finance loans and $0.5B of personal loans in 1Q12.

42
43

Citi Holdings SAP AFS / HTM Assets


EOP Assets
($B)

1Q12

4Q11

3Q11

2Q11

1Q12
Face EOP Assets
Value (% of Face)

Securities at AFS
Corporates
Prime and Non-U.S. MBS
Auction Rate Securities
Other Securities

$4.4
3.0
1.3
0.0

$5.4
3.9
1.5
0.0

$5.7
4.2
0.0
1.5
0.1

$6.1
4.4
0.0
1.6
0.1

$4.8
3.0
1.7
0.1

92%
100%
80%
60%

Securities at HTM
Corporates
Prime and Non-U.S. MBS
Alt-A Mortgages

$8.8
1.2
3.1
2.9

$10.1
1.9
3.1
3.3

$11.3
2.1
3.5
3.8

$13.3
2.4
4.7
4.0

$12.8
1.4
3.7
5.8

68%
85%
84%
50%

1.6

1.8

1.9

2.2

2.0

82%

$13.2

$15.5

$17.1

$19.4

$17.6

75%

Other Securities(1)
Total Securities at AFS / HTM

Note: Totals may not sum due to rounding. NM: Not meaningful.
Assets in the SIVs have been allocated to their corresponding asset categories.
(1)
Includes assets previously held by SIVs ($1.4B of ABS, CDOs / CLOs and Subprime).

43
44

Non-GAAP Financial Measures Reconciliations


($ millions, except per share amounts)

1Q'10

2Q'10

3Q'10

4Q'10

1Q'11

2Q'11

3Q'11

4Q'11

1Q'12

$151,421
312

$154,806
312

$162,913
312

$163,468
312

$171,037
312

$176,364
312

$177,372
312

$177,806
312

$181,820
312

151,109

154,494

162,601

163,156

170,725

176,052

177,060

177,494

181,508

25,662

25,201

25,797

26,152

26,339

26,621

25,496

25,413

25,810

8,277

7,868

7,705

7,504

7,280

7,136

6,800

6,600

6,413

Goodwill and Intangible Assets - recorded as Assets


Held for Sale / Assets of Discont. Operations Held for Sale

45

66

Net Deferred Tax Assets Related to Goodwill


and Intangible Assets

65

62

59

56

53

50

47

44

41

$117,060

$121,297

$129,040

$129,444

$136,888

$142,245

$144,717

$145,437

$149,244

2,862

2,898

2,905

2,906

2,921

2,918

2,924

2,924

2,932

$40.90

$41.86

$44.42

$44.55

$46.87

$48.75

$49.50

$49.74

$50.90

Citigroup's Total Stockholders' Equity


Less: Preferred Stock
Common Stockholders' Equity
Less:
Goodwill
Intangible Assets (other than Mortgage Servicing Rights)

Tangible Common Equity (TCE)


Common Shares Outstanding at Quarter-end
Tangible Book Value Per Share
(Tangible Common Equity / Common Shares Outstanding)

165

44
45

Certain statements in this document are forward-looking statements


within the meaning of the rules and regulations of the U.S. Securities and
Exchange Commission. These statements are based on managements
current expectations and are subject to uncertainty and changes in

circumstances. Actual results and capital and other financial condition


may differ materially from those included in these statements due to a
variety of factors, including the precautionary statements included in this
document and those contained in Citigroups filings with the U.S.
Securities and Exchange Commission, including without limitation the

Risk Factors section of Citigroups 2011 Form 10-K.


45
46