- Citigroup reported a net loss of $2.5 billion in 2Q08, compared to net income of $6.2 billion in 2Q07, as revenues declined 29% while credit costs rose.
- Total revenues were $18.7 billion in 2Q08, down 29% from 2Q07, as non-interest revenues fell 71% due to losses in principal transactions and lower commissions and fees.
- Provisions for credit losses and benefits and claims increased to $7.2 billion in 2Q08 from $2.7 billion in 2Q07, driven by higher loan loss provisions.
- All business segments except Latin America reported lower net income, with Global Cards down
Citigroup reported financial results for the first quarter of 2002, with the following highlights:
- Core income increased 5% compared to first quarter 2001 to $3.859 billion. Net income increased 37% to $4.843 billion, helped by a gain on sale of stock by a subsidiary.
- Global Consumer segment saw increases in core income for Cards (2%), Consumer Finance (35%), and Retail Banking (29%) compared to first quarter 2001.
- Capital ratios improved, with Tier 1 capital ratio at 9.13% versus 8.56% in first quarter 2001, reflecting Citigroup's overall financial strength.
- Total assets were $1.057 trillion
This document provides quarterly financial data for Citigroup, including:
1) Income statements for Citigroup's major business segments by both product view and regional view, showing income from continuing operations for 2003 and 2002.
2) Key financial metrics for Citigroup such as revenues, assets, capital ratios, and earnings per share for 2003 and 2002.
3) Supplementary financial details including statements of income, financial position, loan delinquency and more for Citigroup.
The document contains detailed quarterly performance information for Citigroup to allow analysis of results and trends by major business and geographic segments.
Citigroup reported quarterly financial results. Global core income was $3.859 billion for Q1 2002, up 5% from Q1 2001. By segment, global consumer core income grew 20% to $1.812 billion, while global corporate and investment banking core income fell 13% to $1.286 billion. On a regional basis, core income from North America grew 20% to $2.479 billion, while core income from Western Europe fell 41% to $171 million.
Citigroup reported financial results for the first quarter of 2007, with the following highlights:
- Net income decreased 11% to $5.012 billion compared to $5.639 billion in the first quarter of 2006.
- Revenues increased 15% to $25.459 billion from $22.183 billion, driven by growth in Markets & Banking and Global Consumer segments.
- Markets & Banking revenues increased 23% to $8.957 billion, while Global Consumer revenues grew 10% to $13.106 billion.
- Results were impacted by a $871 million after-tax restructuring charge related to expense reduction initiatives.
This document provides supplemental financial information for Bank of America for the first quarter of 2007, including:
- Consolidated financial highlights such as net income, revenue, assets and equity.
- Segment results and key metrics for the Global Consumer and Small Business Banking, Global Corporate and Investment Banking, and Global Wealth and Investment Management segments.
- Additional financial details like loans and leases, credit quality, and net interest income.
- Financial statements including the consolidated statement of income and consolidated balance sheet for the quarter.
The information is preliminary and based on company data available at the time. Forward-looking statements are subject to risks described in Bank of America's SEC filings.
This document provides quarterly financial data for Citigroup, including:
1) Income statements for Citigroup's major business segments broken down by product and region, showing revenues, expenses, profits.
2) Key metrics for Citigroup as a whole, including revenues, income, earnings per share, assets, equity.
3) Specific data on performance of Citigroup's Global Consumer credit card business, including revenues, expenses, profits, and effects of securitization activities.
Citigroup, the largest global financial services company, reported quarterly financial results. Core income decreased 7% year-over-year to $3.66 billion, while net income decreased 8% to $3.54 billion. Revenues increased 6% to $21.05 billion driven by strong growth in North America Cards, Corporate Finance, and emerging markets. Citibanking North America revenues increased 6% to $613 million with core income before taxes up 24% to $271 million.
Citigroup reported quarterly financial results, with net income of $3.92 billion for 3Q 2002, a 23% increase over 3Q 2001. Core income, which excludes certain items, was $3.79 billion for 3Q 2002, up 17% from the prior year. Diluted earnings per share on net income were $0.76 for the quarter, rising 25% year-over-year, while diluted EPS on core income increased 19% to $0.74. Citigroup operates as a global financial services company with over 200 million customer accounts in more than 100 countries.
Citigroup reported record net income of $15.28 billion for 2002, an 8% increase over 2001. Net income per share also rose 8% to $2.94. Core income for the year was a record $13.65 billion, or $2.63 per share. However, fourth quarter net income declined 37% to $2.43 billion due to a $1.55 billion legal settlement charge. Core income fell 32% to $2.44 billion. Revenue grew 7% for the full year to $75.76 billion but was flat in the fourth quarter at $18.93 billion.
Citigroup reported its financial results for the first quarter of 2001. Net income decreased 8% compared to the first quarter of 2000. Core income, which excludes restructuring and accounting items, decreased 7%. Within Global Consumer, Banking/Lending revenues increased 14% driven by growth in North America Cards, CitiFinancial, and Mortgage Banking. Core income for Banking/Lending increased 21% led by gains in North America Cards, CitiFinancial, and Citibanking North America.
Citigroup reported second quarter net income of $5.07 billion, up from $1.14 billion in the same period last year. Revenue was $20.2 billion. Key highlights included growth in customer volumes across most business segments, strong growth in international consumer businesses, and record revenues in transaction services. However, capital markets revenues declined due to difficult market conditions. Expenses declined due to prior year charges, but increased due to investment spending and acquisitions. Credit quality remained stable.
The document provides a summary of Citigroup's earnings for the first quarter of 2008. Key points include:
- Net income declined significantly to a $5.1 billion loss compared to a $5 billion profit in Q1 2007.
- Major losses were driven by write-downs on subprime exposures, consumer credit losses, and losses on leveraged finance commitments.
- Revenues declined 48% year-over-year due to losses in fixed income markets and the consumer segment.
- Expenses increased 4% year-over-year due to repositioning charges despite cost cutting efforts.
This document provides historical financial and metric information for Ameriprise Financial, Inc. for full years 2005 and 2006, and quarterly results through third quarter 2007. It includes consolidated income statements, per share summaries, segment income statements and metrics for the Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other segments. Additional sections provide balance sheet information, capital and ratings details, owned/managed/administered assets, and non-GAAP reconciliations. Key financial metrics such as pretax income margin, net income margin, return on equity, and earnings growth targets are also presented.
- Citigroup reported quarterly financial results for 3Q 2000, with net income of $3.088 billion, up 27% from 3Q 1999. Core income was $3.111 billion for the quarter, also up 27% year-over-year.
- Total revenues for Citigroup's Global Consumer segment were $7.515 billion in 3Q 2000, up 5% from 3Q 1999. The Global Corporate and Investment Bank segment reported revenues of $8.097 billion, a 26% increase.
- Total assets reached $805 billion in 3Q 2000, up from $686.8 billion in 3Q 1999. Book value per share increased to $11.55 from $9
Citigroup reported quarterly financial data for 3Q 2001. Some key highlights:
- Core income was $3.262 billion for 3Q 2001, down 8% from 3Q 2000. Year-to-date core income was $10.707 billion, down 1% from the same period in 2000.
- Total revenues for 3Q 2001 were $20.294 billion, up 5% from 3Q 2000. Year-to-date total revenues were $61.656 billion, up 6% from the same period in 2000.
- Global Consumer revenues grew 19% to $11.661 billion in 3Q 2001, driven by strength in North America Cards and Banking/L
Citigroup reported record earnings from continuing operations for the first quarter of 2006, with net income of $5.64 billion, up 4% from the previous year. International earnings grew 47% due to record international revenues increasing 19%. Several business segments saw record results, including corporate and investment banking with revenues up 21% and international revenues in that segment up 34%. The company opened 238 new branches during the quarter as it continued expanding its distribution internationally.
Citigroup reported its quarterly financial results. Net income for 4Q 2001 was $3.875 billion, up 36% from 4Q 2000. Core income, which excludes certain items, was $3.862 billion for 4Q 2001, up 16% from the prior year. Total revenues for Global Consumer increased 20% to $11.207 billion compared to 4Q 2000, driven by growth in North America Cards, Citibanking North America, and Mortgage Banking. Revenues for Global Corporate were relatively flat compared to the prior year.
This document is a statistical supplement from Unum Group for the second quarter of 2008. It includes financial highlights and consolidated financial statements for Unum for quarters, six month periods, and full years 2005-2007. It also includes sales data by segment (Unum US, Unum UK, Colonial Life, etc.) and notes on non-GAAP measures and items affecting results for specific periods. The document provides an overview of Unum's financial and operating results over several years through tables, charts, and explanatory notes.
Citigroup reported financial results for the third quarter of 2001. Citigroup is a global financial services company with operations in over 100 countries. Some key highlights:
- Core income for 3Q 2001 was $3.26 billion, down 8% from 3Q 2000. Year-to-date core income was $10.7 billion, down 1% from the same period in 2000.
- Total revenues for Global Consumer operations were $11.66 billion for 3Q 2001, up 19% from 3Q 2000, driven by growth in North America Cards and Mortgage Banking.
- Revenues for Global Corporate were $8.01 billion for 3Q 2001, down 5% from 3
This document is an introduction to the Ruby programming language presented by Premshree Pillai. The presentation provides an overview of Ruby's history and features, compares it to Perl and Python, and demonstrates Ruby syntax through examples. It also provides resources for learning more about Ruby. The presentation aims to interest attendees in Ruby and help them get started with the language.
citigroup August 5, 2008 - Re-Mapping of Press Release Disclosed Items Explan...QuarterlyEarningsReports
The document discusses the Indian economy and banking sector from the perspective of a banker. It notes that India has one of the fastest growing economies in the world, fueled by consumption. The banking sector is robust and resilient, with strong regulations and institutions. Indian banks are well capitalized and have low non-performing assets. They are major financiers of India's economic growth.
- eBay reported record quarterly net revenues of $219.4 million, a 64% increase over the previous year, and record pro forma EPS of $0.14.
- For the full year, eBay generated net revenues of $748.8 million, a 74% increase, and pro forma EPS of $0.49, representing 133% growth over the previous year.
- eBay exceeded expectations for the quarter with strong holiday sales, international growth, contributions from eBay Motors and Payments, and third party advertising revenues.
This document describes the development of a visual research package to help designers understand users' emotional and social responses to designed objects. The package is based on free sorting and multidimensional scaling techniques to group user responses. It aims to present information visually and allow users to manipulate displays. Designers provided feedback that they found the visual presentations useful. The package combines grouping, semantic differential, and preference methods into flexible software to efficiently collect and analyze user data globally to support the design process. An evaluation of the completed package's usefulness for design companies is planned.
- eBay reported record financial results for Q1 2004 with net revenues of $756.2 million, up 59% year-over-year. GAAP diluted EPS was $0.30 and pro forma diluted EPS was $0.31, exceeding guidance.
- Key metrics like registered users, listings, GMS and payments volume all reached record highs. International and payments revenues grew the most at 87% and 67% respectively.
- Based on the strong Q1 results, eBay raised its full year 2004 guidance for net revenues to as high as $3.15 billion and GAAP/pro forma EPS to $1.06/$1.13, increases of $150 million and $0.07-$
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended September 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and September 30, 2005, as well as condensed consolidated statements of income for the three and nine month periods ended September 30, 2004 and 2005. It also includes notes to the unaudited condensed consolidated financial statements and sections on management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, and controls and procedures.
eBay reported record financial results for the first quarter of 2005, with net revenues of $1.032 billion (up 36% year-over-year). Key metrics like registered users, listings, and gross merchandise volume also grew substantially compared to the prior year. The company exceeded guidance for the quarter. Based on the strong results, eBay raised its financial guidance for 2005, expecting full-year net revenues between $4.27 and $4.36 billion.
eBay reported record quarterly financial results for Q4 2002, with net revenues of $413.9 million, a 122% increase in transaction revenues, and GAAP and pro forma diluted EPS of $0.28. The company also raised its guidance for 2003, expecting net revenues of up to $1.9 billion and pro forma EPS of up to $1.27. Key metrics like active users and gross merchandise sales also reached record highs. Meg Whitman, eBay's President and CEO, attributed the strong results to the success of eBay's community and commitment to business excellence.
This document provides a summary of changes to Citigroup's reformatted quarterly financial data supplement. Key changes include:
- Segment and regional net income breakdowns are provided, with new segments and regional definitions. Discontinued operations now includes CitiCapital.
- Financial data is presented by business segment and region, including Global Cards, Consumer Banking, Institutional Clients Group, and Global Wealth Management.
- Regional net income is shown for North America, EMEA, Latin America, and Asia, with Securities and Banking and Transaction Services presented under Institutional Clients Group.
Google reported strong revenue growth in Q1 2007, with revenue up 63% year-over-year and 14% quarter-over-quarter. International markets contributed significantly to revenue growth. Non-GAAP net income was $1.16 billion, up 16% from the previous quarter. Google continued to invest in infrastructure and employees while maintaining operating margins over 38%.
- eBay reported record Q3 2007 revenues of $1.89 billion, up 30% year-over-year, but had a GAAP operating loss of $938 million and net loss of $936 million due to a goodwill impairment charge related to Skype. Non-GAAP operating income was $593 million, up 28% year-over-year.
- Marketplaces revenues were $1.32 billion, up 26% year-over-year, while listings fell 5% and GMV rose 14%. PayPal revenues rose 35% to $470 million and TPV grew 34%. Skype revenues rose 96% to $98 million.
- For Q4, eBay expects revenues of $2
eBay reported strong financial results for Q4 2007 and full year 2007, with revenue increasing 27% and 29% respectively. Revenue grew across all business units, especially PayPal, StubHub, Skype, classifieds and advertising. For Q4, net income increased 53% to $531 million and operating margin increased. For the full year, net income was $348 million. eBay provided a positive outlook for 2008 and announced a $2 billion stock repurchase program.
This document discusses regulations on insider trading in the United States and Turkey and proposes adopting additional regulations in Turkey. It defines insider trading and outlines who can be considered insiders. It describes the key US regulations including Section 16 of the 1934 Exchange Act, SEC Rule 10b-5 which established the classical and misappropriation theories of insider trading liability, and Rule 14e-3 related to tender offers. It compares investigations, regulations, and enforcement between the two countries and notes Turkey has fewer specific regulations and enforcement actions compared to more comprehensive US regulations. It proposes considering how famous US insider trading cases may have been handled in Turkey.
This document provides quarterly financial data for Citigroup from 2006 to 2008. It includes consolidated income statements, balance sheets, and key metrics by business segment and region. The first page shows high-level financial summary tables with metrics such as total revenues, expenses, earnings per share, and return on equity. Subsequent pages provide more detailed financial statements and supplementary financial ratios to analyze Citigroup's performance.
This document provides quarterly financial data for Citigroup, including income statements, balance sheets, ratios, and other metrics. Some key details:
- For Q3 2003, income from continuing operations was $4.691 billion, up 27% from Q3 2002. Net income was $4.691 billion, up 20% from a year ago.
- Capital ratios like Tier 1 and Total Capital were all above requirements at the end of Q3 2003, with Tier 1 at 9.5% and Total Capital at 12.6%.
- Total assets increased to over $1.208 trillion in Q3 2003, up 17% from a year ago. Stockholders' equity rose
1) Citi reported a significant year-over-year decline in 4th quarter 2007 earnings, with net income down 83% and EPS down 83% due to losses from sub-prime exposures and increased credit costs.
2) Revenue declined 70% year-over-year in 4Q2007 due to losses from sub-prime exposures in Fixed Income Markets and higher credit costs in U.S. Consumer.
3) Expenses increased 18% year-over-year in 2007, with 9% organic growth and 9% from acquisitions, while headcount increased 15% in 2007.
This document summarizes Viacom's financial results for the third quarter of 2008. Revenues increased 4% year-over-year to $3.4 billion. Operating income decreased 15% to $689 million due to an 11% increase in expenses. Adjusted net earnings decreased 22% to $339 million, while adjusted diluted EPS decreased 15% to $0.55. Free cash flow was $564 million for the quarter compared to a significant decrease year-to-date. Total debt was $8.95 billion as of September 30, 2008, while cash on hand was $525 million.
Citigroup reported financial results for the second quarter of 2000. Core income increased 21% compared to the second quarter of 1999 to $3.007 billion. Total revenues for the quarter were $16.373 billion, a 10% increase year-over-year. Most of Citigroup's business segments saw revenue and core income growth compared to the previous year. Global Consumer revenues were $7.473 billion, up 6% from the second quarter of 1999. Global Corporate and Investment Bank revenues were $7.855 billion, a 13% increase. Citigroup's preliminary Tier 1 capital ratio was 8.6% for the second quarter of 2000.
Citi reported a $9.83 billion net loss for Q4 2007, driven by $18.1 billion in write-downs on subprime exposures and a $4.1 billion increase in credit costs for US consumer loans. For the full year, Citi earned $3.62 billion in net income on $81.7 billion in revenues. While most business segments saw strong revenue growth, losses were concentrated in fixed income markets and US consumer lending due to deteriorating credit quality. Citi outlined steps to strengthen its capital position and improve risk management in response to the poor results.
This document provides quarterly financial data for Citigroup, including:
- Consolidated financial summaries showing metrics like core income, net income, earnings per share, capital ratios, assets, and returns on equity.
- Segment net revenues and core income broken down by Citigroup's main business segments - Global Consumer, Global Corporate and Investment Bank, and Global Investment Management.
- More detailed financial results for the major businesses within Global Consumer like North America Cards, Mortgage Banking, and International.
- Supplemental financial details including consolidated statements of income, earnings analysis, loan delinquency amounts, and insurance investment portfolio information.
The document contains quarterly and year-to-
This document discusses the business environment and 1Q06 highlights for a company. It saw 23% CAGR in card base expansion in 2006 and competition differentiation through independence. Gross revenue was up 28% YoY in 1Q06 driven by increased market share in profitable segments like CardSystem and MarketSystem. Key strategies for 2006 include expanding market share in cards and markets, implementing a Caixa project, and boosting profits in TeleSystem and Credit&Risk units.
This document summarizes Viacom's financial results for the second quarter and first half of 2008. Key highlights include:
- Revenues for Q2 2008 increased 21% to $3.9 billion and increased 18% to $7 billion for the first half.
- Operating income for Q2 2008 increased 13% to $792 million and increased 19% to $1.4 billion for the first half.
- Earnings per share from continuing operations for Q2 2008 increased 2% to $0.64 and increased 15% to $1.06 for the first half.
- Media Networks revenues increased 11% in Q2 2008 and 14% for the first half, driven by increases in affiliate fees
EDP Energias do Brasil reported its 2Q09 results. Key highlights include: 4%
- EBITDA of R$344 million and net income of R$213 million
- Energy volume sold by generation business up 29% year-over-year 18%
- Unveiling of full commercial operations at Santa Fé SHP
- Net revenue fell 1% due to elimination of Enersul figures 78%
- Manageable expenses down 12% for the sixth quarter in a row
- Approval and signature of long-term financing for Pecém I project
Bonds
BNDES/IDB
The presentation provides financial and operational details on EDP
- Bank of America reported second quarter 2006 results, with net income of $5.58 billion excluding merger charges, up 4% from the second quarter of 2005.
- The Global Consumer & Small Business Bank saw strong growth, with net income up 42% to $3.11 billion driven by increases in cards and deposits.
- The Global Corporate & Investment Bank reported net income of $1.72 billion, flat compared to the second quarter of 2005.
The document summarizes Credit Suisse's financial results for the first quarter of 2003. Key points include:
- Credit Suisse reported a net profit of CHF 652 million, compared to a net loss of CHF 950 million in the previous quarter.
- Credit Suisse Financial Services saw a net profit increase of 13% compared to the first quarter of 2002, driven by improved results across all business segments.
- Credit Suisse First Boston returned to profitability with a net operating profit of USD 292 million, up from USD 11 million the previous quarter, due to higher fixed income revenues and lower credit provisions.
Citigroup reported record first quarter net income of $5.44 billion, up 3% from the same period last year. Revenue increased 6% to $21.5 billion. The Board authorized up to an additional $15 billion in share repurchases. Several business segments saw revenue and income increases, including Global Consumer and Corporate and Investment Banking. However, Global Wealth Management saw declines in revenue and income.
Viacom reported financial results for the first quarter of 2008 that showed increases in revenue, operating income, and earnings per share compared to the first quarter of 2007. Revenue grew 15% to $3.117 billion. Operating income increased 29% to $567 million. Diluted earnings per share from continuing operations rose 45% to $0.42. Media Networks and Filmed Entertainment, Viacom's two business segments, both saw revenue growth for the quarter despite lower theatrical revenues at Filmed Entertainment. Viacom also provided guidance for 2008-2010 of low double-digit annual growth in diluted earnings per share from continuing operations.
- Ameriprise Financial reported increased earnings for the second quarter of 2007, with net income per share up 42% and adjusted earnings per share up 24%.
- Revenues grew 6% to $2.2 billion, driven by strong growth in fee-based businesses. Expenses rose 5% while income before taxes grew 14%.
- Net income was $196 million, up 39% from the prior year, while adjusted earnings rose 22% to $237 million, reflecting expense controls.
Citigroup reported its quarterly financial results. Some key highlights:
- Core income for Q4 2000 was $3.331 billion, up 11% from Q4 1999.
- Net income for Q4 2000 was $2.84 billion, down 6% from Q4 1999 due to restructuring charges.
- Global Consumer segment revenues grew 9% to $10.243 billion in Q4 2000.
- Global Corporates and Institutions segment revenues grew 16% to $8.464 billion in Q4 2000.
Citigroup reported its financial results for the first quarter of 2001. Net income decreased 8% compared to the first quarter of 2000. Core income, which excludes restructuring and accounting items, decreased 7%. Within its Global Consumer segment, Banking/Lending revenues increased 14% driven by growth in North America Cards, CitiFinancial, and Mortgage Banking. Core income for Banking/Lending increased 21% led by gains in North America Cards, CitiFinancial, and Citibanking North America. Overall, Citigroup's Global Consumer business saw revenues increase 10% and core income rise 18% compared to the first quarter of the prior year.
Citigroup reported its quarterly financial results. Core income decreased 7% from the prior year quarter to $3.66 billion. Total revenues declined across most business segments, with the exception of the Global Consumer segment which increased revenues slightly. Overall, Citigroup saw lower earnings due to weaker market conditions impacting its trading and investment banking businesses. Capital ratios and credit quality metrics remained strong however, positioning Citigroup well despite the challenging environment.
Similar to citigroup Financial Supplement July 18, 2008 - Second Quarter (19)
Citibanking North America reported a 14% increase in total revenues and a 92% increase in core income for Q1 2000 compared to Q1 1999. Key drivers included an 86% increase in core income before taxes due to higher non-interest revenue and lower loan loss provisions. Average loans declined 5% while average deposits grew 5%. Asset quality improved with delinquencies and net credit losses declining.
Citigroup reported record earnings for the first quarter of 2000, with core income rising 49% to $3.6 billion compared to the same period last year. Several of Citigroup's business lines saw double-digit earnings growth, including Global Consumer (up 23%), Global Corporate and Investment Bank (up 36%), and Global Investment Management (up 26%). Strong performance across all regions and business segments was driven by favorable global market conditions. Return on equity was 30% and the company repurchased $1.2 billion in stock during the quarter.
Citigroup reported strong financial results for the second quarter and first half of 2000. Core income rose 21% to $3.0 billion for the second quarter and 35% to $6.6 billion for the first half of the year. All of Citigroup's major business segments experienced double-digit income growth, led by the Global Consumer Group and Global Corporate and Investment Bank. Citigroup continued making acquisitions and investments to expand its global businesses and presence on the internet. Chairman and CEO Sanford Weill stated the results demonstrated the impact of the company's market share gains and consistent growth across its businesses.
Citigroup reported its third quarter 2000 financial results. Key highlights include:
- Core income for 3Q 2000 was $3.11 billion, up 27% from 3Q 1999. Year-to-date core income through 3Q 2000 was $9.72 billion, up 32% from the same period in 1999.
- Net income for 3Q 2000 was $3.088 billion, up 27% from 3Q 1999. Year-to-date net income through 3Q 2000 was $9.683 billion, up 34% from the same period in 1999.
- Basic earnings per share for core income in 3Q 2000 was $0.69, up 28% from 3Q 1999.
Citigroup reported strong third quarter results for 2000, with core income rising 27% to $3.1 billion compared to the third quarter of 1999. Key highlights included:
- Global Consumer core income rose 17% to $1.32 billion, driven by growth in North American cards, mortgage banking, and Asia.
- Global Corporate and Investment Bank core income increased 40% to $1.59 billion, with strong performances from Salomon Smith Barney and emerging markets banking.
- Global Investment Management and Private Banking core income grew 14% to $176 million, with increased revenues across asset management, private banking, and retirement services.
Citigroup reported strong 4th quarter and full-year 2000 earnings. 4th quarter core income was $3.33 billion, an 11% increase, and full-year core income was a record $14.14 billion, up 25%. All of Citigroup's major business segments saw growth in the 4th quarter, led by the Global Consumer Group at 25% growth. For the full year, net income was $13.52 billion. Chairman and CEO Sanford Weill cited the company's global strength and leadership across business lines. Citigroup continued investments in growing markets and internet capabilities.
Citigroup reported core income of $3.66 billion for Q1 2001, a 7% decrease from Q1 2000. Excluding investment activities, core income rose 7% year-over-year. Global Consumer saw core income increase 18% to $1.78 billion driven by growth in US banking and lending. Global Corporate core income declined 7% to $1.75 billion due to weaker investment markets, though revenues grew 11%. Overall, Citigroup achieved solid results despite challenging markets due to the strength and diversity of its businesses.
Citigroup reported a 13% increase in core income to $3.79 billion for Q2 2001 compared to Q2 2000. Revenue grew 8% to $20.3 billion led by 12% growth in the Global Consumer segment. Core EPS grew 14% to $0.74 per share. Several business segments saw strong growth including 40% growth for CitiFinancial, 17% for North America Cards, and 18% for the Private Bank. Despite difficult market conditions, Corporate Finance delivered 12% earnings growth through increased market share.
Citigroup reported third quarter core income of $3.26 billion, down 7% from the prior year due to $700 million in losses from the September 11th attacks. Revenue grew 5% to $20.29 billion while expenses declined 2%. The diversification of Citigroup's businesses allowed growth in many areas, including a 45% increase in CitiFinancial income and a 25% rise in Citibanking income, despite challenges in the market environment from the attacks. Sanford Weill, CEO, expressed confidence that Citigroup would deliver 15% earnings growth in the fourth quarter assuming a stable market.
Citigroup reported first quarter 2022 core income of $3.86 billion, up 5% from the first quarter of 2021. However, core income included an $816 million pre-tax charge related to economic conditions in Argentina. Revenue for the quarter increased 5% to $22 billion. Net income, including a $1.06 billion gain from the Travelers IPO, was $4.84 billion, up 37% from the prior year. The CEO commented that core businesses delivered strong results despite difficult economic conditions and charges related to Argentina. Key highlights included strong performance in global consumer businesses and the investment bank.
Citigroup reported a 23% increase in third quarter net income to $3.92 billion compared to the prior year. Core income, which excludes certain one-time items, rose 17% to $3.79 billion. Earnings per share increased 25% and 19% respectively. Revenues increased 10% for the quarter driven by strong performance across business segments, though credit costs remained high. For the first nine months of the year, net income rose 25% while core income increased 14% on 10% higher revenues.
Citigroup reported a 23% increase in third quarter net income to $3.92 billion. Core income, which excludes certain one-time items, rose 17% to $3.79 billion. Revenues increased 10% for the quarter. Global Consumer business core income rose 13% to a record $2.22 billion, driven by strong growth in cards and retail banking. Global Corporate and Investment Bank core income fell 7% to $1.20 billion due to higher credit losses, despite expense reductions.
Citigroup will introduce format changes to its financial supplement accompanying its first quarter earnings release on April 14th. The changes relate to the presentation of existing business segments and do not reflect changes to the underlying businesses. Major changes include presenting Global Consumer products from a North America and International perspective, consolidating Cards and Consumer Finance disclosure, combining Consumer Assets with Retail Banking, excluding Private Client Services from the Corporate and Investment Bank, and adding detail to Private Client Services disclosure. The changes also include identifying realized gains and losses for different business lines and consolidating geographic regions for Europe, Middle East, Africa, India, and Asia into single reporting units.
What is an E-commerce- digital marketingpdfPurna Rai
What is an E-commerce?
E-commerce refers to the buying and selling of goods and services over the Internet. In an e-commerce transaction, the exchange of products or services takes place electronically, often through online platforms or websites. E-commerce has become a major aspect of the modern economy, enabling businesses and consumers to conduct transactions without the need for physical presence. It has gained immense popularity over recent years, with more people turning to online shopping for its convenience and accessibility.
E-commerce platforms provide a virtual marketplace where sellers can showcase their products, and buyers can browse and purchase items with just a few clicks. This has opened up new opportunities for entrepreneurs and businesses of all sizes, allowing them to reach a larger customer base and operate globally. However, e-commerce also presents its own set of challenges, such as competition, security concerns, and effectively managing logistics and customer experience. It is important for e-commerce businesses to stay up-to-date with evolving technologies, consumer trends, and effective marketing strategies to remain successful in this ever-growing industry.
What are the Key Components and Features of E-commerce?
E-commerce has various forms, including business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), and more. The growth of e-commerce has transformed the way businesses operate and how consumers shop, providing convenience, accessibility, and a global marketplace. Key components and features of e-commerce include:
Online Stores: Businesses set up digital storefronts or online stores where customers can browse, select, and purchase products or services. These stores can take various forms, including dedicated websites, marketplaces, or social media platforms.
Electronic Payments: E-commerce transactions involve electronic payment methods. Customers can use credit cards, digital wallets, online banking, or other electronic payment systems for making payments.
Digital Marketing: E-commerce relies heavily on digital marketing strategies to attract customers. This includes search engine optimization (SEO), social media marketing, email marketing, and other online advertising methods.
Product Catalogs: Online stores have digital catalogs that showcase their products or services. These catalogs provide detailed information, images, and specifications to help customers make informed purchasing decisions.
Shopping Carts: E-commerce platforms typically incorporate shopping carts that allow customers to add products to their virtual cart, review their selections, and proceed to checkout for payment.
Secure Transactions: Security is a critical aspect of e-commerce. Secure socket layer (SSL) encryption is commonly used to ensure the confidentiality and integrity of sensitive information, such as payment details.
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citigroup Financial Supplement July 18, 2008 - Second Quarter
1. CITIGROUP - QUARTERLY FINANCIAL DATA SUPPLEMENT 2Q08
Page Number
Citigroup Consolidated
Financial Summary 1
Consolidated Statement of Income 2
Consolidated Balance Sheet 3
Income:
SegmentView
Product View 4
Regional View
Regional View 5
Net Revenues:
Segment View 6
Regional View 7
Segment Detail
Global Cards 8 - 10
Consumer Banking 11 -14
Institutional Clients Group (ICG) 15
Securities and Banking 16
Transaction Services 17
Global Wealth Management 18 - 19
Regional Detail
North America 20
EMEA 21
Latin America 22
Asia 23 -24
Citigroup Supplemental Detail
Return on Capital 25
Average Balances and Interest Rates 26
Consumer Loan Delinquency Amounts, Net Credit Losses and Ratios 27
Allowance for Credit Losses:
Total Citigroup 28
Consumer Loans 29
Corporate Loans 30
Components of Provision for Loan Losses 31
Non-Performing Assets (2Q08 Cash-Basis Loans updated from previous Supplement) 32
2. CITIGROUP -- FINANCIAL SUMMARY
(In millions of dollars, except per share amounts)
2Q08 vs. Six Six YTD 2008 vs.
1Q 2Q 3Q 4Q 1Q 2Q 2Q07 Increase/ Months Months YTD 2007 Increase/
2007 2007 2007 2007 2008 2008 (Decrease) 2007 2008 (Decrease)
Total Revenues, Net of Interest Expense $25,184 $26,330 $22,190 $7,003 $13,020 $18,652 (29%) $51,514 $31,672 (39%)
Total Operating Expenses 15,373 14,691 14,416 16,352 16,071 15,943 9% 30,064 32,014 6%
Provision for Loan Losses and for Benefits and Claims 2,950 2,710 5,048 7,739 5,976 7,187 NM 5,660 13,163 NM
Income Taxes 1,846 2,663 527 (7,320) (3,883) (2,337) NM 4,509 (6,220) NM
Minority Interest 47 123 20 95 (21) 76 (38%) 170 55 (68%)
Income (Loss) from Continuing Operations $4,968 $6,143 $2,179 $(9,863) $(5,123) $(2,217) NM $11,111 $(7,340) NM
Discontinued Operations, After-tax 44 83 33 30 12 (278) NM 127 (266) NM
Net Income (Loss) $5,012 $6,226 $2,212 $(9,833) $(5,111) $(2,495) NM $11,238 $(7,606) NM
Diluted Earnings Per Share:
Income (Loss) from Continuing Operations $1.00 $1.23 $0.43 $(2.00) (1) $(1.02) (1) $(0.49) (1) NM $2.22 $(1.50) (1) NM
Net Income (Loss) $1.01 $1.24 $0.44 $(1.99) (1) $(1.02) (1) $(0.54) (1) NM $2.25 $(1.55) (1) NM
Shares (in millions):
Average Basic 4,877.0 4,898.3 4,916.1 4,931.9 5,085.6 5,287.4 8% 4,887.7 5,186.5
Average Diluted 4,967.9 4,992.9 5,010.9 5,009.3 5,591.1 5,800.0 16% 4,980.4 5,695.6
Common Shares Outstanding, at period end 4,946.4 4,974.6 4,981.1 4,994.6 5,249.8 5,445.4 9%
Preferred Dividends - Basic (in millions) (2) $16 $14 $6 $- $83 $361 $30 $444
Preferred Dividends - Diluted (in millions) (2) $16 $14 $6 $- $17 $91 $30 $108
Financial Ratios:
Tier 1 Capital Ratio 8.26% 7.91% 7.32% 7.12% 7.74% 8.7% *
Total Capital Ratio 11.48% 11.23% 10.61% 10.70% 11.22% 12.2% *
Leverage Ratio 4.84% 4.37% 4.13% 4.03% 4.39% 5.0% *
Return on Common Equity 17.1% 20.1% 6.9% (32.4%) (18.6%) (10.4%) * 18.6% (14.5%)
Balance Sheet Data, EOP (in billions, except Book Value per Share):
Total Assets $2,021.0 $2,220.9 $2,358.3 $2,187.6 $2,199.8 $2,100.5 * (5%)
Trading Account Assets 460.1 538.3 581.2 539.0 578.4 505.4 * (6%)
Total Loans 693.3 742.9 774.0 778.0 789.8 746.8 * 1%
Total Deposits 738.5 771.8 812.9 826.2 831.2 803.6 * 4%
Stockholders' Equity 122.1 127.8 127.1 113.6 128.2 136.6 * 7%
Equity and Trust Securities 131.5 137.8 138.7 137.2 152.2 160.2 * 16%
Book Value Per Share $24.48 $25.56 $25.48 $22.74 $20.73 $20.04 * (22%)
Direct Staff (in thousands) 343 361 371 375 369 363 * 1%
Segment Net Income:
Global Cards $1,257 $1,057 $1,450 $945 $1,239 $467 (56%) $2,314 $1,706 (26%)
Consumer Banking 1,258 1,473 197 (442) 138 (700) NM 2,731 (562) NM
Institutional Clients Group (ICG) 2,917 3,384 267 (10,723) (6,357) (2,044) NM 6,301 (8,401) NM
Global Wealth Management (GWM) 448 512 490 524 294 405 (21%) 960 699 (27%)
Corporate/Other (912) (283) (225) (167) (437) (345) (22%) (1,195) (782) 35%
Discontinued Operations 44 83 33 30 12 (278) NM 127 (266) NM
Total Net Income $5,012 $6,226 $2,212 $(9,833) $(5,111) $(2,495) NM $11,238 $(7,606) NM
Regional Net Income (3):
North America $3,244 $3,397 $481 $(8,947) $(5,586) $(3,317) NM $6,641 $(8,903) NM
Europe, Middle East and Africa (EMEA) 779 992 29 (3,149) (1,060) 15 (98%) 1,771 (1,045) NM
Latin America 785 787 1,084 939 1,195 658 (16%) 1,572 1,853 18%
Asia 1,072 1,250 810 1,461 765 772 (38%) 2,322 1,537 (34%)
Corporate/Other (912) (283) (225) (167) (437) (345) (22%) (1,195) (782) 35%
Discontinued Operations 44 83 33 30 12 (278) NM 127 (266) NM
Total Net Income $5,012 $6,226 $2,212 $(9,833) $(5,111) $(2,495) NM $11,238 $(7,606) NM
(1) Diluted shares used in the Diluted EPS calculation represent Basic Shares for the fourth quarter of 2007, first quarter of 2008 and second quarter of 2008 due to the Net Loss. Using actual Diluted shares would result in anti-dilution.
(2) Beginning in the fourth quarter of 2008, preferred stock dividends (subject to declaration) will vary quarter-to-quarter due to Series E being declared on a semi-annual basis compared to a quarterly basis for all other series.
(3) Asia includes Japan, Latin America includes Mexico, and North America includes U.S., Canada and Puerto Rico.
NM Not meaningful
Reclassified to conform to the current period's presentation.
* Preliminary
Page 1
3. CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)
2Q08 vs. Six Six YTD 2008 vs.
1Q 2Q 3Q 4Q 1Q 2Q 2Q07 Increase/ Months Months YTD 2007 Increase/
2007 2007 2007 2007 2008 2008 (Decrease) 2007 2008 (Decrease)
Revenues
Interest revenue $27,872 $30,369 $32,747 $32,350 $29,702 $27,902 (8%) $58,241 $57,604 (1%)
Interest expense 17,344 18,971 20,593 19,789 16,303 13,597 (28%) 36,315 29,900 (18%)
Net interest revenue 10,528 11,398 12,154 12,561 13,399 14,305 26% 21,926 27,704 26%
Commissions and fees 5,599 6,628 4,050 4,842 1,668 6,134 (7%) 12,227 7,802 (36%)
Principal transactions 3,168 2,629 (244) (17,632) (6,661) (5,586) NM 5,797 (12,247) NM
Administrative and other fiduciary fees 1,949 2,241 2,468 2,514 2,317 2,304 3% 4,190 4,621 10%
Realized gains (losses) from sales of investments 473 119 263 313 (119) (139) NM 592 (258) NM
Insurance premiums 838 845 893 956 983 985 17% 1,683 1,968 17%
Other revenue 2,629 2,470 2,606 3,449 1,433 649 (74%) 5,099 2,082 (59%)
Total non-interest revenues 14,656 14,932 10,036 (5,558) (379) 4,347 (71%) 29,588 3,968 (87%)
Total revenues, net of interest expense 25,184 26,330 22,190 7,003 13,020 18,652 (29%) 51,514 31,672 (39%)
Provisions for Credit Losses and for Benefits and Claims
Provision for loan losses 2,689 2,513 4,762 7,398 5,701 7,070 NM 5,202 12,771 NM
Policyholder benefits and claims 261 197 236 241 275 260 32% 458 535 17%
Provision for unfunded lending commitments - - 50 100 - (143) - - (143) -
Total provisions for credit losses and for benefits and claims 2,950 2,710 5,048 7,739 5,976 7,187 NM 5,660 13,163 NM
Operating Expenses
Compensation and benefits 8,671 8,896 7,709 9,064 9,060 9,185 3% 17,567 18,245 4%
Premises and Equipment 1,529 1,603 1,748 1,800 1,788 1,844 15% 3,132 3,632 16%
Technology / communication expense 979 1,143 1,166 1,245 1,226 1,258 10% 2,122 2,484 17%
Advertising and marketing expense 617 767 799 751 679 686 (11%) 1,384 1,365 (1%)
Restructuring-related items 1,377 63 35 53 15 (44) NM 1,440 (29) NM
Other operating 2,200 2,219 2,959 3,439 3,303 3,014 36% 4,419 6,317 43%
Total operating expenses 15,373 14,691 14,416 16,352 16,071 15,943 9% 30,064 32,014 6%
Income (Loss) from Continuing Operations before Income
Taxes and Minority Interest 6,861 8,929 2,726 (17,088) (9,027) (4,478) NM 15,790 (13,505) NM
Provision (benefits) for income taxes 1,846 2,663 527 (7,320) (3,883) (2,337) NM 4,509 (6,220) NM
Minority interest, net of income taxes 47 123 20 95 (21) 76 (38%) 170 55 (68%)
Income (Loss) from Continuing Operations 4,968 6,143 2,179 (9,863) (5,123) (2,217) NM 11,111 (7,340) NM
Discontinued Operations (1)
Income from Discontinued Operations 60 129 44 40 4 43 189 47
Loss on Pending Sale - - - - - (517) - (517)
Provision (benefits) for income taxes 16 46 11 10 (8) (196) 62 (204)
Income from Discontinued Operations, net 44 83 33 30 12 (278) 127 (266)
Net Income (Loss) $5,012 $6,226 $2,212 $(9,833) $(5,111) $(2,495) NM $11,238 $(7,606) NM
(1) Discontinued Operations includes:
a) The sale of substantially all of Citigroup’s CitiCapital equipment finance unit to General Electric.
NM Not meaningful
Reclassified to conform to the current period's presentation.
Page 2
4. CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)
June 30, 2008
vs.
March 31, June 30, September 30, December 31, March 31, June 30, December 31, 2007
2007 2007 2007 2007 2008 2008 (1) Inc (Decr)
Assets
Cash and due from banks (including segregated cash and other deposits) $24,421 $30,635 $38,226 $38,206 $30,837 $44,824 17%
Deposits with banks 44,906 70,897 58,713 69,366 73,318 67,945 (2%)
Federal funds sold and securities borrowed or purchased under agreements to resell 303,925 348,129 383,217 274,066 239,006 220,169 (20%)
Brokerage receivables 51,976 61,144 69,062 57,359 65,653 62,492 9%
Trading account assets 460,065 538,316 581,220 538,984 578,437 505,439 (6%)
Investments 286,567 257,880 240,828 215,008 204,155 232,528 8%
Loans, net of unearned income
Consumer 519,105 551,223 570,891 592,307 596,987 571,238 (4%)
Corporate 174,239 191,701 203,078 185,686 192,856 175,552 (5%)
Loans, net of unearned income 693,344 742,924 773,969 777,993 789,843 746,790 (4%)
Allowance for loan losses (9,510) (10,381) (12,728) (16,117) (18,257) (20,777) (29%)
Total loans, net 683,834 732,543 761,241 761,876 771,586 726,013 (5%)
Goodwill 34,380 39,231 39,949 41,204 43,622 42,537 3%
Intangible assets 19,330 22,975 23,651 22,687 23,945 24,542 8%
Other assets 111,562 119,116 162,159 168,875 169,289 161,101 (5%)
Assets of discontinued operations held for sale - - - - - 12,946 -
Total assets $2,020,966 $2,220,866 $2,358,266 $2,187,631 $2,199,848 $2,100,536 (4%)
Liabilities
Non-interest-bearing deposits in U.S. offices $39,296 $41,740 $38,842 $40,859 $43,779 $49,636 21%
Interest-bearing deposits in U.S. offices 198,840 196,481 211,147 225,198 226,285 210,981 (6%)
Non-interest-bearing deposits in offices outside the U.S. 36,328 39,132 43,052 43,335 45,230 46,765 8%
Interest-bearing deposits in offices outside the U.S. 464,057 494,408 519,809 516,838 515,914 496,260 (4%)
Total deposits 738,521 771,761 812,850 826,230 831,208 803,642 (3%)
Federal funds purchased and securities loaned or sold under agreements to repurchase 393,670 394,143 440,369 304,243 279,561 246,107 (19%)
Brokerage payables 88,722 96,528 94,830 84,951 95,597 96,432 14%
Trading account liabilities 173,902 217,992 215,623 182,082 201,986 189,468 4%
Short-term borrowings 111,179 167,139 194,304 146,488 135,799 114,445 (22%)
Long-term debt 310,768 340,077 364,526 427,112 424,959 417,928 (2%)
Other liabilities (2) 82,121 105,472 108,651 102,927 102,519 95,502 (7%)
Liabilities of discontinued operations held for sale - - - - - 456 -
Total liabilities 1,898,883 2,093,112 2,231,153 2,074,033 2,071,629 1,963,980 (5%)
Stockholders' equity
Preferred Stock 1,000 600 200 - 19,384 27,424 -
Common Stock 55 55 55 55 55 57 4%
Additional paid-in capital 17,341 17,725 18,297 18,007 11,131 16,594 (8%)
Retained earnings 131,395 134,932 134,445 121,920 115,050 110,441 (9%)
Treasury stock (23,833) (22,588) (22,329) (21,724) (10,020) (9,911) 54%
Accumulated other comprehensive income (loss) (3,875) (2,970) (3,555) (4,660) (7,381) (8,049) (73%)
Total stockholders' equity 122,083 127,754 127,113 113,598 128,219 136,556 20%
Total liabilities and stockholders' equity $2,020,966 $2,220,866 $2,358,266 $2,187,631 $2,199,848 $2,100,536 (4%)
(1) Preliminary
(2) Includes allowance for credit losses for letters of credit and unfunded lending commitments of $1,100 million for
the first and second quarters of 2007, $1,150 million for the third quarter of 2007 and $1,250 million for the fourth quarter of 2007, respectively, $1,250 million for the first quarter of 2008 and $1,107 for the second quarter of 2008, respectively.
Reclassified to conform to the current period's presentation.
Page 3
5. CITIGROUP -- NET INCOME
SEGMENT VIEW
(In millions of dollars)
2Q08 vs. Six Six YTD 2008 vs.
1Q 2Q 3Q 4Q 1Q 2Q 2Q07 Increase/ Months Months YTD 2007 Increase/
2007 2007 2007 2007 2008 2008 (Decrease) 2007 2008 (Decrease)
Global Cards:
North America $872 $711 $808 $322 $537 $178 (75%) $1,583 $715 (55%)
EMEA 45 53 38 131 55 19 (64%) 98 74 (24%)
Latin America 235 184 563 251 516 165 (10%) 419 681 63%
Asia 105 109 41 241 131 105 (4%) 214 236 10%
Total Global Cards 1,257 1,057 1,450 945 1,239 467 (56%) 2,314 1,706 (26%)
Consumer Banking:
North America 750 891 59 (920) (333) (951) NM 1,641 (1,284) NM
EMEA 33 89 13 72 1 65 (27%) 122 66 (46%)
Latin America 169 183 102 206 271 76 (58%) 352 347 (1%)
Asia 306 310 23 200 199 110 (65%) 616 309 (50%)
Total Consumer Banking 1,258 1,473 197 (442) 138 (700) NM 2,731 (562) NM
Institutional Clients Group (ICG):
North America 1,261 1,461 (720) (8,735) (5,955) (2,853) NM 2,722 (8,808) NM
EMEA 694 804 (26) (3,372) (1,142) (89) NM 1,498 (1,231) NM
Latin America 366 391 407 466 382 402 3% 757 784 4%
Asia 596 728 606 918 358 496 (32%) 1,324 854 (35%)
Total Institutional Clients Group (ICG) 2,917 3,384 267 (10,723) (6,357) (2,044) NM 6,301 (8,401) NM
Global Wealth Management:
North America 361 334 334 386 165 309 (7%) 695 474 (32%)
EMEA 7 46 4 20 26 20 (57%) 53 46 (13%)
Latin America 15 29 12 16 26 15 (48%) 44 41 (7%)
Asia 65 103 140 102 77 61 (41%) 168 138 (18%)
Total Global Wealth Management 448 512 490 524 294 405 (21%) 960 699 (27%)
Corporate / Other (912) (283) (225) (167) (437) (345) (22%) (1,195) (782) 35%
Income (Loss) From Continuing Operations 4,968 6,143 2,179 (9,863) (5,123) (2,217) 11,111 (7,340)
NM NM
Discontinued Operations 44 83 33 30 12 (278) 127 (266)
Net Income (Loss) $5,012 $6,226 $2,212 $(9,833) $(5,111) $(2,495) $11,238 $(7,606)
NM NM
NM Not meaningful
Reclassified to conform to the current period's presentation.
Page 4
9. GLOBAL CARDS
Page 1
(In millions of dollars)
2Q08 vs. Six Six YTD 2008 vs.
1Q 2Q 3Q 4Q 1Q 2Q 2Q07 Increase/ Months Months YTD 2007 Increase/
2007 2007 2007 2007 2008 2008 (Decrease) 2007 2008 (Decrease)
Net Interest Revenue $2,305 $2,683 $2,744 $3,031 $2,730 $3,024 13% $4,988 $5,754 15%
Non-Interest Revenue 2,859 2,642 3,631 3,283 3,686 2,444 (7%) 5,501 6,130 11%
Total Revenues, Net of Interest Expense (1) 5,164 5,325 6,375 6,314 6,416 5,468 3% 10,489 11,884 13%
Total Operating Expenses 2,412 2,490 2,624 3,095 2,610 2,725 9% 4,902 5,335 9%
Net Credit Losses 870 850 1,049 1,123 1,252 1,417 67% 1,720 2,669 55%
Credit Reserve Build / (Release) (9) 425 506 653 623 582 37% 416 1,205 NM
Provision for Benefits & Claims 20 13 20 15 20 24 85% 33 44 33%
Provision for Loan Losses and for Benefits and Claims 881 1,288 1,575 1,791 1,895 2,023 57% 2,169 3,918 81%
Income Before Taxes and Minority Interest 1,871 1,547 2,176 1,428 1,911 720 (53%) 3,418 2,631 (23%)
Income Taxes 613 487 723 479 669 249 (49%) 1,100 918 (17%)
Minority Interest 1 3 3 4 3 4 33% 4 7 75%
Net Income $1,257 $1,057 $1,450 $945 $1,239 $467 (56%) $2,314 $1,706 (26%)
Average Assets (in billions of dollars) $105 $110 $114 $124 $124 $124 13% $108 $124 15%
Return on Assets 4.86% 3.85% 5.05% 3.02% 4.02% 1.51% 4.32% 2.77%
Net Credit Loss Ratio 4.70% 4.26% 5.00% 4.78% 5.39% 6.18%
Average Risk Capital $8,216 $8,417 $8,738 $9,412 $14,799 $15,265 81% $8,317 $15,032 81%
Return on Risk Capital 62% 50% 66% 40% 34% 12% 56% 23%
Return on Invested Capital 26% 22% 29% 18% 18% 7% 24% 12%
KEY INDICATORS
EOP Open Accounts (in millions)
North America 152.6 150.1 149.1 151.9 148.6 146.9 (2%)
EMEA 6.3 8.7 8.9 9.1 9.5 9.6 10%
Latin America 11.7 12.0 12.4 12.9 12.9 12.9 8%
Asia 13.8 14.1 14.3 15.4 15.7 15.7 11%
Total 184.4 184.9 184.7 189.3 186.7 185.1 -
Purchase Sales (in billions of dollars)
North America $73.8 $83.5 $83.1 $89.3 $76.9 $83.8 0%
EMEA 4.3 6.4 7.5 8.3 7.6 8.1 27%
Latin America 5.8 6.8 7.4 8.4 8.2 8.8 29%
Asia 11.6 12.6 13.1 14.8 14.7 15.3 21%
Total $95.5 $109.3 $111.1 $120.8 $107.4 $116.0 6%
Average Managed Loans (2):
North America (managed basis) $144.3 $143.2 $145.3 $150.5 $152.7 $151.2 6%
EMEA 7.8 12.1 14.8 15.8 16.4 17.2 42%
Latin America 10.2 11.7 12.3 13.5 14.1 14.7 26%
Asia 13.2 13.9 14.8 16.0 17.1 17.6 27%
Total $175.5 $180.9 $187.2 $195.8 $200.3 $200.7 11%
(1) The 2007 first quarter, 2007 second quarter, 2007 third quarter, 2007 fourth quarter, 2008 first quarter and 2008 second quarter include releases of
$98 million, $144 million, $73 million, $157 million, $58 million and $21 million, respectively, from the allowance for credit losses related to loan receivables that were either securitized or transferred to loans held-for-sale during the quarter.
(2) Managed basis is applicable only in North America, as securitizations are not done in any other region.
Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity.
Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company's owned loans.
NM Not meaningful
Reclassified to conform to the current period's presentation.
Page 8
10. GLOBAL CARDS
Page 2
(In millions of dollars)
1Q 2Q 3Q 4Q 1Q 2Q
2007 2007 2007 2007 2008 2008
KEY INDICATORS (continued) (1)
Managed Average Yield
North America (managed basis) 14.21% 14.17% 14.40% 13.87% 13.41% 13.24%
EMEA 17.67% 16.34% 16.10% 15.28% 15.62% 15.29%
Latin America 28.28% 29.24% 28.68% 26.27% 28.44% 30.36%
Asia 13.72% 14.04% 13.78% 13.89% 13.82% 13.79%
Global Total 15.13% 15.27% 15.41% 14.83% 14.67% 14.72%
Managed Net Interest Revenue as a % of Average Managed Loans
North America (managed basis) 10.07% 10.28% 10.50% 10.07% 10.09% 10.56%
EMEA 13.28% 13.99% 13.05% 11.65% 12.28% 12.27%
Latin America 21.25% 23.90% 23.26% 21.13% 22.93% 25.51%
Asia 10.17% 10.49% 10.16% 10.21% 10.04% 9.85%
Global Total 10.86% 11.43% 11.52% 10.97% 11.17% 11.74%
Coincident Managed Net Credit Loss Ratio
North America (managed basis) 4.60% 4.51% 4.51% 5.10% 5.81% 6.53%
EMEA 3.21% 2.71% 4.79% 0.81% 3.53% 3.89%
Latin America 8.75% 6.84% 9.65% 9.01% 10.25% 11.41%
Asia 3.19% 3.32% 3.11% 3.06% 3.17% 3.37%
Global Total 4.67% 4.45% 4.76% 4.85% 5.71% 6.38%
Managed Net Credit Margin as a % of Average Managed Loans
North America (managed basis) 7.48% 7.43% 8.03% 7.67% 7.14% 6.52%
EMEA 16.46% 14.02% 11.25% 14.29% 11.72% 11.36%
Latin America 25.89% 26.98% 46.08% 26.73% 40.43% 22.23%
Asia 12.53% 12.02% 11.32% 17.27% 12.69% 11.73%
Global Total 9.32% 9.49% 11.04% 10.30% 10.33% 8.54%
Managed Loans 90+ Days Past Due as a % of EOP Managed Loans
North America (managed basis) 1.57% 1.47% 1.60% 1.77% 1.96% 2.02%
EMEA 1.91% 1.99% 1.79% 1.52% 1.61% 1.80%
Latin America 3.39% 3.79% 3.67% 3.92% 3.75% 4.16%
Asia 1.59% 1.43% 1.43% 1.50% 1.49% 1.53%
Global Total 1.70% 1.66% 1.74% 1.88% 2.02% 2.11%
(1) Managed basis is applicable only in North America, as securitizations are not done in any other region.
Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity.
Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company's owned loans.
Reclassified to conform to the current period's presentation.
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11. GLOBAL CARDS
Page 3
North America
2Q08 vs.
(In millions of dollars)
1Q 2Q 3Q 4Q 1Q 2Q 2Q07 Increase/
2007 2007 2007 2007 2008 2008 (Decrease)
SUPPLEMENTAL DISCLOSURE - MANAGED BASIS (1)
Managed Revenues: (in millions of dollars)
Total GAAP Revenues $3,407 $3,298 $3,510 $3,678 $3,343 $2,928 (11%)
Net Impact of Cardit Card Securitization Activity (2) 929 998 1,124 1,200 1,610 2,016 NM
Total Managed Revenues $4,336 $4,296 $4,634 $4,878 $4,953 $4,944 15%
Return on Managed Assets 2.26% 1.84% 2.04% 0.79% 1.32% 0.44%
Average Managed Loans Securitized $97.4 $97.6 $101.0 $99.8 $105.8 $107.4 10%
(in billions of dollars) Held for Sale 3.0 3.3 3.0 2.7 1.0 1.0 (70%)
On Balance Sheet 43.9 42.3 41.3 48.0 45.9 42.8 1%
Total $144.3 $143.2 $145.3 $150.5 $152.7 $151.2 6%
Citi Branded $92.6 $91.6 $92.4 $95.3 $96.8 $96.6 5%
Retail Partners 51.7 51.6 52.9 55.2 55.9 54.6 6%
Total $144.3 $143.2 $145.3 $150.5 $152.7 $151.2 6%
EOP Managed Loans Citi Branded $91.6 $92.9 $93.6 $98.7 $96.3 $96.0 3%
Retail Partners 50.9 52.3 53.8 57.9 54.4 55.2 6%
Total $142.5 $145.2 $147.4 $156.6 $150.7 $151.2 4%
Managed Average Yield (3) Citi Branded 12.31% 12.25% 12.50% 12.12% 11.46% 11.19% (9%)
Retail Partners 17.60% 17.59% 17.71% 16.90% 16.77% 16.87% (4%)
Total 14.21% 14.17% 14.40% 13.87% 13.41% 13.24% (7%)
Managed Net Interest Revenue Citi Branded $1,784 $1,797 $1,885 $1,886 $1,894 $1,998 11%
(in millions of dollars) (4) Retail Partners 1,798 1,873 1,962 1,935 1,935 1,971 5%
Total $3,582 $3,670 $3,847 $3,821 $3,829 $3,969 8%
Managed Net Interest Revenue as Citi Branded 7.81% 7.87% 8.09% 7.85% 7.87% 8.32%
a % of Average Managed Loans Retail Partners 14.10% 14.56% 14.71% 13.91% 13.92% 14.52%
Total 10.07% 10.28% 10.50% 10.07% 10.09% 10.56%
Managed Net Credit Margin Citi Branded $1,644 $1,593 $1,732 $1,790 $1,658 $1,459 (8%)
(in millions of dollars) (5) Retail Partners 1,017 1,059 1,210 1,121 1,053 993 (6%)
Total $2,661 $2,652 $2,942 $2,911 $2,711 $2,452 (8%)
Managed Net Credit Margin as Citi Branded 7.20% 6.98% 7.44% 7.45% 6.89% 6.07%
a % of Average Managed Loans Retail Partners 7.98% 8.23% 9.07% 8.06% 7.58% 7.31%
Total 7.48% 7.43% 8.03% 7.67% 7.14% 6.52%
Managed Net Credit Losses Citi Branded $876 $878 $900 $1,034 $1,187 $1,375 57%
Retail Partners 759 733 753 899 1,018 1,078 47%
Total $1,635 $1,611 $1,653 $1,933 $2,205 $2,453 52%
Coincident Managed Net Citi Branded 3.84% 3.84% 3.86% 4.30% 4.93% 5.72% 49%
Credit Loss Ratio: Retail Partners 5.95% 5.70% 5.65% 6.46% 7.32% 7.94% 39%
Total 4.60% 4.51% 4.51% 5.10% 5.81% 6.53% 45%
Managed Loans 90+Days Past Due Citi Branded $1,191 $1,138 $1,248 $1,489 $1,616 $1,674 47%
Retail Partners 1,045 997 1,112 1,286 1,337 1,376 38%
Total $2,236 $2,135 $2,360 $2,775 $2,953 $3,050 43%
% of EOP Managed Loans Citi Branded 1.30% 1.22% 1.33% 1.51% 1.68% 1.74% 43%
Retail Partners 2.05% 1.91% 2.07% 2.22% 2.46% 2.49% 30%
Total 1.57% 1.47% 1.60% 1.77% 1.96% 2.02% 37%
(1) Managed basis is applicable only in North America, as securitizations are not done in any other region.
Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity.
Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company's owned loans.
(2) Net impact of Securitization Activity includes the removal of securitization-related items that are part of GAAP revenues such as the gain on sale of credit card loans,
mark-to-market revenue for interests retained in securitized assets classified as Trading, and net credit losses on loans that are considered sold for GAAP purposes.
(3) Gross interest revenue earned divided by average managed loans.
(4) Includes certain fees that are recorded as interest revenue.
(5) Total Revenues, net of Interest Expense, less Net Credit Losses and Policy Benefits and Claims.
NM Not meaningful
Reclassified to conform to the current period's presentation.
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