CITIGROUP INC.

SUMMARY
Citigroup is a diversified financial services holding company 1
The company operates 2 business segments, and a holding company

Global Customer Banking (GCB)

Traditional banking services: retail banking, commercial banking, Citi credit cards, Citi
retail and investment services.

3280 branches in 35 countries (Dec2014)

Institutional Clients Group (ICG)

Wholesale banking, products and services to corporate, institutional, public sector and
high-net worth clients.

Products and services include fixed income and equity sales and trading, foreign
exchange, prime brokerage, derivative services, corporate lending, investment banking
and advisory services, financial research, cash management and securities services.

Citi Holdings8: a division created in 2009 to manage assets or business intended

for sale or divestiture in the wake of the financial crisis.

At the end of 2014, the division had $98 billion in assets, after having sold more than
$700 billion over the past five years.

The division is 5% of total Citi assests, but 14% of total risk-weighted assets

ORGANIZATION

COMMENTS FROM THE CEO

Mike Corbat, CEO of Citigroup

By virtually any measure, Citi is a

stronger, safer, simpler and smaller
institution than it was before, during or
just after the financial crisis.

Its a vast understatement to say that

we merely rebuilt our capital position
since the crisis. In fact, our capital
strength now far exceeds even pre-crisis
levels

When I took over as CEO (2013), ..I set

four specific goals for Citi: first, to utilize
our deferred tax assets; second, to drive
Citi Holdings to break-even; third, to
generate quality and consistent earnings;
and fourth, to be known as an
indisputably strong and stable institution.

FROM THE BEGINNING9

1811: City Bank of NY is born
1833: City Bank helps finance the Manhattan Gas and Light Co. (later becoming ConEdision)
1843: Farmers Loan and trust company founded from ex-City Bank (1929 merger)
1850s: City Bank backs steel, railroads, coal-mining, and steamships enabling the nations economic

expansion.
1860s: City Bank finances the Union during the civil war
1890s: now National City Bank works with corporations like standard oil with foreign operations
1901: International Banking Corporation founded in CT to promote trade in Asia through the Philippines.

Later merged with National City Bank.

1911: National City Bank set up an investment affiliate.
1914: National City Bank opens the first international branch of any private US chartered bank in Argentina.
1915: National Citys acquires affiliate International Banking Corp increasing its presence in international

banking in Asia with Nationals presence in South America

1919: National City lost its Russian branch after the revolution
1920s: Merger and acquisitions: Second National Bank, Commercial Exchange Bank. Ends decade with 37

domestic branches.

1929 and Great Depression: The company was voluntarily divested from securities (dissolved National
City Company) after the Banking Act of 1933 prohibited banks from owning securities companies.

1955: Merges with First National Bank and changes name to First National City Bank, adds blue-chip

corporate accounts
1973: Reorganizes to create a World Corporation Group designed to serve large multinational Corporations
1974: Pioneers the use of ATM cards, CitiCards
1885: Becomes Citicorp

RECENT HISTORY
CitiGroup Inc. (Citi) was formed from the Oct 1998 merger of

banking giant Citicorp and financial conglomerate Travelers Group

It is the 3rd largest bank holding company (assets) in the US, behind

Prior to the global financial crisis in 2008, Citigroup was the largest

company and band in the world by total assets

$xxx assets, employed 357,000 employees, 16,000 offices in 140 countries.

In Nov 2008, after suffering massive losses in the financial crisis,

the firm received a huge stimulus package by the US government to

prevent bankruptcy.

US government guaranteed losses of more than $300B in troubled Citi assets

$20B in emergency aid with a $45B line of credit

In exchange, US government took a 36% equity stake in the firm and imposed
management restrictions

By Dec2010, Citigroup had repaid the emergency loan in full and the

US government sold its stake in Citigroup at a profit.

GLOBAL CONSUMER BANK

STRATEGY
In 2011, Citigroup initiated a multi-year, multi-billion dollar IT

effort to integrate all consumer products and branches around

the world.6

The project, called Rainbow, was an important part of the strategy to move
Citi from a product-led bank to a customer-centric bank.

In Oct 2014, the GCB division announced it would exit from 11

world markets7

Strategic actions to focus on regions or greatest potential and scale, and to

streamline and improve profits.

Selling-off interests in Japan, Egypt, Costa Rica, Czech Republic, El Salvador,

Guam, Guatemala, Hungary, Nicaragua, Panama and Peru, as well as the
consumer finance business in Korea.

CITI STOCK PERFORMANCE2

CITI FINANCIAL SUMMARY3

REFERENCES
1. https://finance.yahoo.com/q/pr?s=C+Profile
2. https://finance.search.yahoo.com/search/;_ylc=X3oDMTIxaDJlbmZj

BGtleXcDY2l0aSBncm91cARtaWQDbWVkaWFxdW90ZXNzZWFyY2gEc2VjA3
IEc2xrA2ZpbmFuY2Vfc2VhcmNo?p=citi%20group&type=2button&fr=uh3_
finance_vert_gs
3. https://www.citigroup.com/citi/investor/quarterly/2015/annual-report/
4. https://en.wikipedia.org/wiki/Citigroup#Citicorp_1812.E2.80.931985
5. http://pdf.secdatabase.com/367/0000950123-08-016585.pdf
6. http://www.cnbc.com/id/41233935
7. http://www.businessinsider.com/citi-is-bowing-out-of-11-markets-aroun

d-then-world-2014-10#ixzz3fhf3kiAD
8. http://www.wsj.com/articles/citis-holdings-strategy-wins-a-hand-heardon-the-street-1425418499
9. http://citigroup.com/citi/press/mobile/ir/html/timeline/index-com.html