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Second Quarter 2010 Earnings Review

VIEWS: 5 PAGES: 36

									Second Quarter 2010 Earnings Review
July 16, 2010
Highlights

           Continue to execute our strategy
               Citicorp: $3.8B earnings in 2Q’10, $8 9B i fi t h lf 2010
             – Citi      $3 8B      i    i 2Q’10 $8.9B in first half
               despite a difficult 2Q’10 environment
             – Citi Holdings: Assets of $465B; down $38B from 1Q’10 and
                               1Q 08
               44% lower than 1Q’08 peak
             – Continued expense discipline while investing in Citicorp’s
               businesses
                     p      g
           Positive operating trends
             – Fourth consecutive quarter of improving credit, particularly
               overseas
             – Growth in Citicorp’s international businesses
           Strong balance sheet
             – Tier 1 Common Ratio (1) of 9.7%, up 60bps sequentially
                                            $            ,
             – Allowance for loan losses of $46.2 billion, or 6.7% of loans

  (1) Tier 1 Common and related ratios are non-GAAP financial measures. Please see slide 34 for additional information on these metrics.

                                                                                                                                           1
 Citigroup – Summary Income Statement

   ($M M , Except EPS)                                                       2Q'10            1Q'10             2Q'09          %      QoQ %             YoY

   Net Revenues                                                            $22 071
                                                                           $22,071          $25 421
                                                                                            $25,421           $29,969
                                                                                                              $29 969              (13)%              NM

   Operating Expenses                                                       11,866            11,518           11,999               3%              (1)%
      Net Credit Losses                                                       7,962            8,384             8,355             (5)%               NM
                              (1)
      Net LLR Build (Release)                                                (1,510)             (53)            4,013              NM                NM
      PB&C                                                                      213              287               308             (26)%            (31)%
   Credit Losses, Claims and Benefits                                         6,665            8,618           12,676              (23)%              NM

   Income T axes                                                                812            1,036               907             (22)%            (10)%
   Net Income                                                               $ ,
                                                                            $2,697              ,
                                                                                              $4,428           $4,279
                                                                                                                 ,                 ( )
                                                                                                                                   (39)%            ( )
                                                                                                                                                    (37)%

   Diluted EPS                                                                $0.09             $0.15            $0.49             (40)%            (82)%



                                                                                       GAAP                   Managed
                                                                             2Q'10            1Q'10             2Q'09          %      QoQ %             YoY
                                            (2)
   M anaged Net Revenues                                                   $22,071          $25,421           $33,095              (13)%            (33)%
                                                   (2)
   M anaged Net Credit Losses                                                 7,962            8,384           11,470               (5)%            (31)%
                        (2, 3)
        g
   M anaged Provisions                                                        6,665            8,618           15,791              (23)%            (58)%
(1) Includes provision for unfunded lending commitments.
(2) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement filed on
    Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
(3) Managed provisions: net loan loss reserve builds (releases), policy holders benefit and claims, plus managed net credit losses.
 Note: Totals may not sum due to rounding.                                                                                                                 2
Citigroup – Financial Summary

 ($MM)                                                                         Citicorp                                      Citi Holdings
                                                                    2Q'10         1Q'10          2Q'09                 2Q'10         1Q'10          2Q'09
                                          (1)
 M anaged Net Revenues                                            $16,489        $18,522       $17,029                 $4,919        $6,550       $16,807
                                                 (1)
 M anaged Net Credit Losses                                          2,965          3,142         3,412                 4,998          5,241         8,059


 Net Revenues                                                     $16,489        $18,522       $15,385                 $4,919        $6,550       $15,325

 Operating Expenses                                                  9,090          8,485         8,068                 2,424          2,574         3,609

  Net Credit Losses                                                  2,965          3,142         1,575                 4,998          5,241         6,781
                          (2)
  Net LLR Build (Release)                                              (665)         (367)        1,314
                                                                                                  1 314                   (845)          314         2,697
                                                                                                                                                     2 697
  PB&C                                                                   27             44            42                   185           243               267
 Credit Losses, Claims and Benefits                                  2,327          2,819         2,931                 4,338          5,798         9,745

 Income Before T axes                                                5,072          7,218         4,386                (1,843)        (1,822)        1,971

 Net Income                                                         $3,776        $5,140         $3,233               $(1,205)         $(887)       $1,219


 EOP Assets (in $B)                                                 $1,211        $1,236          1,051                  $465           $503               582

 EOP Deposits (in $B)                                                   719           730            706                    82             86               84
(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement
    filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
(2) Includes provision for unfunded lending commitments.
Note: Corporate/Other and Discontinued Operations not shown. Net income was $126 million in 2Q’10, $175 million in 1Q’10, and $(173) million in 2Q’09.
    Assets were $262 billion in 2Q’10, $263 billion in 1Q’10, and $216 billion in 2Q’09. For more details on Corporate/Other please refer to slide 14. 3
 Citicorp – Key Financial Metrics
($B)
                Managed Revenues (1) (ex-CVA)                                                                          Expenses
   S&B CVA: (2)
    (0.2) 2.7   (2.7)          2.6    (0.9)    (1.8)    (1.9)     0.3     0.3

                                                                                                           15.6
                              19.8
    18.4                               18.0 17.0                 18.2
             15.7 15.0                                  15.6             16.2                               6.5
                                                                                          10.2      9.2     9.1
                                                                                                                3
                                                                                                                              8.1     8.4      8.8      8.5      9.1
                                                                                                                     7.4


   2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10


           Managed Net Credit Losses (1) and LLR                                                             Earnings Before Taxes
                                                                                        Ex-CVA & 4Q’08 Goodwill Impairment
       LLRs        NCLs

                                       1.3      0.5
                      1.5      1.0                                                                                  8.6
     0.5     0.7
             07                                                                                                                                        6.9
                                       3.4      3.6      3.3     3.1                       5.2                               5.3
             2.5      2.7      2.7                                        3.0                                                                                    4.8
     2.3                                                                                                                              4.5
                                                                                                                                              3.5
                                                                                                   2.4
                                                        (0.0) (0.4)                                         1.4
                                                                                                               3
                                                                    (0.7)
                                                                    (0 7)
   2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10

(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement
filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
(2) CVA on Citi liabilities at fair value option and Derivatives, net of hedges. (3) Excluding the 4Q’08 $6.5 billion pre-tax goodwill impairment charge.    4
Citicorp – N.A. Regional Consumer Banking
 ($MM)                                 2Q'10          1Q'10       %           2Q'09       %
                                                                                                        Revenues
                      (1)
 Managed Basis
                                                                                                          – QoQ reduction driven by Cards -
     Cards Revenues                  $2,370         $2,521       (6)%       $2,450        (3)%              lower volumes and CARD Act
     Total R
     T t l Revenues                    3,693
                                       3 693         3,801
                                                     3 801       (3)%         3,826
                                                                              3 826       (3)%
                                                                                                          – Retail banking revenue up driven by
     Net Credit Losses                 2,126         2,157       (1)%         2,144       (1)%
                                                                                                            better mortgage hedge results
 Revenues                            $3,693         $3,801       (3)%       $2,182         NM
     Cards                             2,370         2,521       (6)%           806        NM
                                                                                                        Expenses
     Retail Banking                    1,323         1,280         3%         1,376       (4)%            – Down 7% versus prior quarter,
                                                                                                            excluding 1Q’10 litigation reserve up
 Expenses                              1,499         1,611       (7)%         1,486        1%               1% due to increase in marketing
                                                                                                            spend
 Credit Costs                          2,122         2,169       (2)%           471        NM

 N.I. from Cont. Ops.                    $62            $22       NM           $139     (55)%           Credit costs
     Cards                              (163)          (162)     (1)%          (103)    (58)%             – NCLs declined 1% QoQ to $2.1B, as
     Retail Banking                      225            184       22%           242       (7)%              cards performance improved

 Key Indicators ($B):                                                                                     – LLR release of $9MM in retail
                                                                                                            banking, no LLR release in cards
   Avg. Deposits                     $145.5         $144.2         1%       $139.6         4%
   RB Avg. Loans                        30.7           32.2      (5)%          35.0     (12)%             – Early and later-stage cards
                               (1)                                                                          delinquencies improved both QoQ
   Cards Avg. Mgd. Loans                76.2           79.2      (4)%          81.8       (7)%
                                                                                                            and YoY
   Purchase Sales                       39.3           36.2        9%          42.4       (7)%

(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement
    filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
Note: Totals may not sum due to rounding.

                                                                                                                                                     5
Citicorp – Int’l Regional Consumer Banking
($MM)                         2Q'10          1Q'10    %       2Q'09     %      Revenues
Revenues                    $4,339          $4,281     1%    $4,019      8%     – Sustained improvement in underlying
                                                                                  business trends despite difficult
  EMEA                          376           405     (7)%     394      (5)%
                                                                                  market conditions
  Latin America               2,118
                              2 118          2 076
                                             2,076     2%     1,950
                                                              1 950      9%
                                                                                – Cards: Revenues down due to
  Asia                        1,845          1,800     3%     1,675     10%       ongoing repositioning in Mexico and
                                                                                  India, offset by growth in other parts
Expenses                      2,483          2,326     7%     2,217     12%       of the portfolio
Credit Costs                    415           735    (44)%
                                                     ( )      1,596    (74)%
                                                                       ( )     Expenses
                                                                                – Continued investment spending,
Net Income                  $1,115           $997     12%     $285      NM
                                                                                  mainly in Asia and Latin America
  EMEA                           50            27     85%      (110)     NM
  Latin America                 491           394     25%      116       NM    Credit costs
  Asia                          574           576     (0)%     279       NM     – Sustained QoQ improvement
                                                                                  across all regions
Product Revenues:                                                               – Asia: Lower by $97MM primarily
  Cards                     $1,746          $1,747    (0)%   $1,606      9%       driven by India and Korea
  Retail Banking              2,593          2,534     2%     2,413      7%     – Latin America: Improvement of
                                                                                  $171MM driven by continued
Key Indicators ($B):                                                              improvement in Mexico cards
 Avg. Deposits              $145.9          $145.0      1%   $132.6     10%     – EMEA: Better by $52MM reflecting
 RB Avg. Loans                78.6            77.3      2%     68.6     15%       improvement in UAE, Turkey and
 Investment Sales             23.4            24.1    (3)%     25.0     (6)%      Russia
 Cards Avg Loans
       Avg.                   32.3
                              32 3            32.8
                                              32 8    (2)%     30 9
                                                               30.9       5%    – LLR releases in cards and retail
 Purchase Sales               24.6            23.9      3%     21.2     16%       banking across all regions

Note: Totals may not sum due to rounding.
                                                                                                                 6
Citicorp – Securities and Banking
 ($MM)                                     2Q'10          1Q'10        %            2Q'09     %      Challenging market environment
 Product Revenues Ex-CVA:                                                                            Revenues
   Investment Banking      $674                         $1,057       (36)%         $1,161    (42)%
                                                                                                      – Fixed Income Markets: rates and
   Equity Markets           620                          1 218
                                                         1,218       (49)%          1,792
                                                                                    1 792    (65)%      currencies down 13% ex-CVA, much
   Fixed Income Markets   3,488                          5,088       (31)%          5,780    (40)%      less than credit and securitized
   Lending                  522                            243          NM         (1,104)      NM      products
   Private Bank             514                            496          4%            515     (0)%    – Equity Markets: widespread volume
   Other                   (118)                          (384)        69%           (507)     77%      declines
                                                                                                      – Investment Banking: lower client
 Regional Revenues Ex-CVA:                                                                              market activity
   North America         $2,368                         $3,384       (30)%         $3,145    (25)%
                                                                                                      – Lending: Loan syndication market
   EMEA                    1,819                         2,500       (27)%          2,633    (31)%      active with significant renewal
   Latin America             607                           564          8%            651     (7)%      activity. Hedging gains due to
   Asia                      907                         1,270       (29)%          1,210    (25)%      widening spreads
                                                                                                      – Private Bank: benefited from
 Total Revenues Ex-CVA                   $5,700         $7,718       (26)%         $7,638    (25)%      deposit re-pricing
        (1)
 CVA                                         255            285      (11)%           (937)    NM     Expenses
 Revenues                                 5,955           8,003      (26)%          6,701    (11)%    – Flat QoQ excluding the impact of the
                                                                                                        UK bonus tax and the absence of last
 Expenses                                 3,938           3,397        16%          3,277     20%
                                                                                                        quarter’s legal reserve release

 Credit Costs                               (176)
                                            (   )            (68)
                                                             ( )        NM           859      NM
                                                                                                     Credit costs
                                                                                                      – Continued improvement in the
 Net Income                              $1,670         $3,185       (48)%         $1,838     (9)%      corporate loan portfolio

(1) CVA on Citi liabilities at fair value option and Derivatives, net of hedges.
Note: Totals may not sum due to rounding.                                                                                              7
Citicorp – Transaction Services
($MM)                             2Q'10           1Q'10       %       2Q'09   %
                                                                                     Revenues
Revenues                        $2,502          $2,437         3%    $2,483    1%     – TTS: Up 1% QoQ primarily due to
    North America                   636             639       (0)%     656    (3)%      growth in cards and global trade
    EMEA                            848             833        2%      860    (1)%    – SFS: up 6% QoQ driven by
    Latin America                   356             344        3%      340     5%       increased client activity
    Asia                            662             621        7%      627     6%
                                                                                     Expenses
Expenses                         1,170            1,151        2%     1,088    8%
                                                                                      – QoQ up 2% driven by higher
Credit Costs                        (34)            (17)      NM         5    NM        transaction expenses, sustained
                                                                                        investments and UK bonus tax
N.I. from Cont. Ops.              $934            $941        (1)%    $974    (4)%
    North America                   166             159        4%      181    (8)%   Credit costs
    EMEA                            318             306        4%      350    (9)%      Benefit d i
                                                                                      – B             by      l
                                                                                            fi driven b LLR release
    Latin America                   153             157       (3)%     150     2%
    Asia                            297             319       (7)%     293     1%    Avg. deposits and other liability
                                                                                     balances flat QoQ as underlying
Product Revenues:                                                                    business growth was offset by FX
           (1)
    TTS                          1,805            1,781        1%     1,793    1%    translation impact
           (2)
    SFS                             697             656        6%      690     1%
                                                                                     Assets under custody down 4%
Key Indicators:                                                                      QoQ due to market declines
                   (3)
  Avg. Deposits          ($B)       320             319        0%      288    11%
  EOP AUCs ($T)                    11.3            11.8       (4)%     11.4   (1)%
(1) TTS: Treasury and Trade Solutions.
(2) SFS: Securities and Fund Services.
(3) Average deposits and other customer liability balances.
    Note: Totals may not sum due to rounding.                                                                         8
Citi Holdings – Key Financial Metrics
($B)
                       Managed Revenues (1)                                                                           Expenses
  Net Revenue Marks:
   (6.6) (6.3) (11.3) (5.0)             0.5    1.5      0.2      1.4     1.0
                                                                                                           8.5
                                                                                                           85
                                      16.8
                                      11.1                                                                 3.0

                                                                                                              2
                                          3
                                       5.7     7.2              6.6                      5.0      4.9      5.5     4.2
                              4.1                       5.2              4.9                                                3.6     3.0      3.0      2.6
     2.6     1.9                                                                                                                                               2.4
                     (4.2)                                                              2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10

   2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10


        Managed Net Credit Losses (1) and LLR                                                                       Net Income
       LLRs        NCLs                                                                                                     1.2

                                       2.7                                                                                     3
                     4.5      1.7                                                                                         (5.5) (2.0)       (0.9) (1.2)
                                               0.3      0.8                                                   2                       (2.6)
             3.1
             31
    2.0                                                         0.3                     (5.3)            (11.6) (5.5)
                              7.1      8.1     7.4                                               (7.0)
                     5.6                                6.7
             4.4                                                5.2      5.0
    3.7
                                                                                                          (2.6)
                                                                        (0 8)
                                                                        (0.8)                            (14.2)
                                                                                                         (14 2)
   2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10

(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement filed
 on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010. (2) Excluding the 4Q’08 $3.0B pre-tax ($2.6B after tax) goodwill
impairment charge. (3) Excluding 2Q’09 $11.1B pre-tax ($6.7B after tax) gain on sale of Smith Barney.                                                     9
Citi Holdings – Asset Summary
EOP Assets ($B)
                                                                                                 2Q’10   1Q’10    %∆
                                                                Brokerage & Asset Mgmt.           $30     $31     (2.7)%
                                                                  • MS Smith Barney JV             27      27     (3.0)
       (1)
                                                                  • Retail Alt. Investments         3       3      --
   827
                            $(362)B                             Local Consumer Lending           $323    $346     (6.9)%
                                                                  • North America                 294     314     (6.6)
                                                                     – Mortgages                  143     152     (5 5)
                                                                                                                  (5.5)
             599                                                     – Student                     46      47     (0.9)
                   582
                            556                 (2)
                                                                     – Cards (Retail Partners)     53      55     (4.1)
                                            503                      – Personal & Other            21      23    (10.6)
                                    487
                                                      465            – Auto                        12      13     (6.8)
                                                                     – Commercial Real Estate      10      10     (4.0)
                                                                     – Other                        8      14    (41.2)
                                                                  • EMEA                           22      24    (10.3)
                                                                  • Asia                            8       8     (8.2)

                                                                Special Asset Pool               $112    $126    (11.0)%
                                                                  •   Securities at HTM            28      42    (33.8)
                                                                  •   Loans, Leases & LCs          18      22    (18.5)
                                                                  •   Securities at AFS (3)        27      16     64.5
                                                                  •   Trading MTM                  24      29    (16.1)
                                                                  •   Other                        15      16     (8.2)

                                                                Total                            $465    $503     (7.6)%
(1) Peak quarter.
(2) The adoption of SFAS 166/167 brought $43B on balance sheet as of January 1, 2010.
(3) Includes $11.4B transferred from HTM at 6/30/10.
Note: Totals may not sum due to rounding.                                                                        10
Holdings – Brokerage & Asset Management
                   EOP Assets ($B)                                                 Asset Composition

                             $(32)B                                                                            Retail
                                                                                                             Alternative
   62                                                                                                       Investments
                   51          54
             47
                                                                                                  9%
                                         30      31        30        MS Smith       90%                         LatAm
                                                                     Barney JV
                                                                                                            1% Asset
                                                                                                                 Mgmt.
                                                                                                                 M  t


 1Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10


($MM)             2Q'10        1Q'10      %       2Q'09     %          Revenues and expenses
                                                                        – QoQ decrease due to 1Q’10 gain on sale of
Revenues           $141        $340      (59)% $12,220     (99)%
                                                                          Habitat and Colfondos and weaker Smith Barney
Expenses               258      265       (3)%    1,044    (75)%          JV revenues due to uncertain markets
                                                                        – Lower costs associated with Smith Barney
Credit Costs             1          13   (92)%        11   (91)%
                                                                       Credit costs
Net Income         $(95)        $86      NM      $6,769    NM
                                                                        – QoQ down, reflecting lower NCLs
Key Indicators ($B):                                                                              y gain
                                                                       YoY: Absence of Smith Barney g
 EOP Deposits          $57      $59       (3)%     $56          2%



                                                                                                                  11
 Holdings – Local Consumer Lending
                           EOP Assets ($B)                                                                    Asset Composition
                                                                                                                Primerica 3%
                                   $(119)B                                                                                                    3% CRE
                                                                                                   International
     442                                                                                          Student                   9%
                359        351
                                                                 (1)
                                                                                                 Loan Corp          14%                          CitiMortgage
                                      339       321        346         323

                                                                                          Retail Partners                                 39%
                                                                                                                   16%
                                                                                              Cards
                                                                                                                         11%
                                                                                               CitiFinancial
    1Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                                                                         4% Auto


  ($MM)                    2Q'10       1Q'10       %         2Q'09       %                 Revenues
                                                                                             – Down 10% QoQ due to additions to the mortgage
  Revenues               $4,206       $4,670      (10)%     $3,481       21%                   repurchase reserve, deconsolidation of Primerica
                                                                                               and lower volumes somewhat offset by the benefit
  Expenses                 2,046       2,178       (6)%      2,376      (14)%
                                                                                               from asset sales
  Credit Costs             4,290       5,558      (23)%      8,187      (48)%
                                                                                           Expenses
  Net Income             $(1,237) $(1,838)         33% $(4,352)          72%                 – QoQ decrease due to Primerica divestiture and
                                                                                               lower credit related costs
  Local Consumer Lending:
                   (2)
                                                                                           Credit costs
      Mgd. Revs.         $4,206       $4,670      (10)%     $4,963      (15)%                – NCLs down for the fourth quarter in a row, driven
      Mgd. NCLs
                   (2)
                           4,535       4,938       (8)%      6,422      (29)%                  by improvements across most businesses

(1) The adoption of SFAS 166/167 brought $40 billion on balance sheet as of January 1, 2010.
(2) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data
Supplement filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
                                                                                                                                                       12
Holdings – Special Asset Pool
                        EOP Assets ($B)                                                              Asset Composition
                                                                                                Other 3%          Securities at HTM
    323                         $(211)B
                                $(   )                                           Consumer/SMEs 2%
                                                                                                                  25%
              193       180                                                                Equity 5%
                                   163                        (1)                                                         24%     Securities
                                             136        126                             Highly Lev
                                                                    112                             2%                             at AFS(2)
                                                                                       Fin. Commit.         16%
                                                                                                                   21%
                                                                                         Loans, Leases
                                                                                          & Letters of
  1Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                             Credit at HFI/HFS               Trading MTM


 ($MM)                 2Q'10       1Q'10       %         2Q'09       %                  Revenues
                                                                                         – QoQ decrease reflects lower positive total net
 Revenues               $572      $1,540     (63)%       $(376)       NM                   revenue marks
 Expenses                120         131       (8)%        189      (37)%               Expenses
                                                                                           QoQ decrease mainly d i
                                                                                         – Q Qd                      by lower transaction
                                                                                                          i l driven b l              i
 Credit Costs              47        227     (79)%       1,547      (97)%
                                                                                           expenses
 Net Income             $127        $865     (85)% $(1,198)           NM
                                                                                        Credit Costs
                                                                                         – QoQ decrease mainly driven by LLR releases
 Adjusted Revenues:
                                                                                        Assets
     Net Marks          $982      $1,361     (28)%        $470        NM
                                                                                         – Completed ~$8B asset sales; liquidated remaining
     Adj. Revs.         (410)        179        NM        (846)      52%                   ABCP CDO deals structured by Citi

(1) The adoption of SFAS 166/167 brought $2B on balance sheet as of January 1, 2010.
(2) Includes $11.4B transferred from HTM at 6/30/10.                                                                                13
Corporate / Other

($MM)                  2Q'10   1Q'10   %      2Q'09    %     Revenues: sequential improvement partly due
                                                             to CDS hedging
Revenues
R                      $663    $349    90%    $(741)   NM

N.I. from Cont. Ops.   $129    $(36)   NM      $(31)   NM    Cash and deposits with banks represent 40%
                                                             of Corporate / Other assets
Balance Sheet (EOP $B):

  Assets
  A   t                $262    $263    (1)%   $216     21%   Moved $4B i cash to AFS investments
                                                             M   d     in   ht       i    t   t
  Deposits                13     13     4%       15 (14)%




                                                                                                   14
Citigroup – Net Credit Losses and Reserves
($B)


  Net Credit Losses (1)
                                                                                                                                Corporate
                                                     11.5        11.0
                                          9.8                                10.0                                        0.8
                              8.3                                                        8.4         8.0                               0.1           (0.2)
       6.1         6.9                                                                                                   1.1
                                                                                                                                        0.4           0.5
                                                                                                                        (0 3)
                                                                                                                        (0.3)          (0.3)
                                                                                                                                       (0 3)
                                                                                                                                                     (0.7)
                                                                                                                       4Q'09         1Q'10          2Q'10
     2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                                                                      Consumer
                                                                                                                         9.9
 Loan Loss Reserves (2)                                                                                                  1.0           8.2            6.7
                                                                                                                                        0.2
                              6.0
                   3.9                                4.0                                                                8.9            8.0           7.5
       25
       2.5                                2.7
                                          27
                                                                  0.8        0.8
                                                                                                                                                     (0.8)
                                                                                        (0.1)
                                                      (1.5)                                                            4Q'09         1Q'10          2Q'10
     2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q'10
     2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q 10

(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data Supplement filed
    on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
(2) Loan Loss Reserves include provision for unfunded lending commitments and credit reserve builds/releases.
Note: Totals may not sum due to rounding.                                                                                                           15
Citigroup – Consumer Credit Trends(1)

            NCLs Holdings ($B)                       NCLs Citicorp ($B)
            LLR ratio                                NCL Ratio
                                                                                                              7.87%
                                                                                                        7.84% 7 87%
                                                                 7.00% 6.78%                                                                NCLs
                                                                             6.70%
                                                                                                                                         Breakdown
                                                    5.81%                                                                                    By
                                                                             6.51%
                                                                 6 24% 6 44%
                                                                 6.24% 6.44%       6.11%                                                 Geography
                                       4.76%                                                                        5.79%
                           4.18%                    5.29%
              3.56%                    4.61%
 3.13%
                           3.83%                                    9.7          9.4         8.9
                                                                                             89
              3.15%                                    8.3                                                8.0                            8.0
 2.62%                                                                                                                 7.5                         7.5
                             6.5          7.2                                                                                           Int’l    Int’l
                                                                                                                                                  Int’l
                5.7                                                 6.5         6.1                                                      1.5
      5.2                                                                                    5.8                                                  1.5
                                                                                                                                                   1.3
                                                       5.6                                                5.0          4.6
                             4.3          4.8
      3.4       3.7
                37                                                                                                                     N.A.
                                                                                                                                       NA        N.A.
                                                                                                                                                 NA
                                                                                                                                                 N.A.
                                                                                                                                       7.0
                                                                                                                                       6.5        6.2
                                                                                                                                                 6.5
                                          2.4          2.7          3.2         3.3          3.1          3.0          2.9
      1.8       2.0          2.2

 1Q'08
 1Q 08        2Q'08
              2Q 08        3Q'08
                           3Q 08        4Q'08
                                        4Q 08       1Q 09
                                                    1Q'09        2Q'09
                                                                 2Q 09        3Q 09
                                                                              3Q'09        4Q'09
                                                                                           4Q 09        1Q 10
                                                                                                        1Q'10        2Q 10
                                                                                                                     2Q'10            1Q 10
                                                                                                                                      1Q'10     2Q 10
                                                                                                                                                2Q'10

(1)  Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data
     Supplement filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
Note: LLR and NCL ratios exclude loans recorded at fair value in 2Q’10 and 1Q’10. SAP consumer NCLs booked in North America.
     Totals may not sum due to rounding.                                                                                                        16
Citigroup – North America Consumer
2Q’10


           EOP Loans:                         $369.1B   NCLs:                $6.2B
           Mortgages:                          161.6    Mortgages:            1.7
           Credit Cards:                       127.4    Credit Cards:         3.8
           Other:                               80.1    Other:                0.7



                                                                 Mortgages
                  Mortgages
                                                                   27%       Other
                      44%                     Other
                                                                             11%
                                               22%
                             Cards                                Cards
                             34%                                   62%




  Note: Totals may not sum due to rounding.

                                                                                     17
Citigroup – N.A. Cards Credit Trends(1)
         Citicorp ($B)                           90+DPD              NCLs
                                                                      $2.31          $2.37                          $2.37          $2.30
                                                                                                    $2.19                                     $2.13
                                                      $2.00

                       $
                       $1.58           $1.67                                         $2.06          $2.08                          $2.08      $2.05
        $1.53
        $1 53                                                                                                       $1.95
                                                                                                                    $1 95
                                                                      $1.69
                                                                                               EOP Loans:
                                                      $1.39
                       $1.15           $1.23                                                    1Q’10: $77.7
        $1.00                                                                                   2Q’10: $77.2


       1Q'08           2Q'08          3Q'08           4Q'08          1Q'09          2Q'09           3Q'09          4Q'09           1Q'10      2Q'10

     Citi Holdings ($B)                          90+DPD              NCLs
                                                                                     $2.59          $2.59           $2.68
                                                                      $2.79                                                        $2 39
                                                                                                                                   $2.39
                                       $2.13          $2.63
        $1.90          $1.98                                                                                                                  $2.00
                                                                                     $2.15
                                                                      $1.96                         $2.00           $1.96          $1.93
                                                                                                                                              $1.77
                                                      $1.62                                  EOP Loans:
                                       $1.46
                                       $1 46
        $1.19          $1.29                                                                  1Q’10: $54.5
                                                                                              2Q’10: $50.2


       1Q'08           2Q'08          3Q'08           4Q'08          1Q'09          2Q'09           3Q'09          4Q'09           1Q'10      2Q'10

     Unemployment Rate
          5.1%           5.5%           6.1%            7.2%           8.5%            9.5%           9.8%         10.0%             9.7%      9.5%
(1) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Second Quarter 2010 Quarterly Financial Data
    Supplement filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.                                            18
Citi Holdings – N.A. Mortgage Credit Trends
    1st Mortgages ($B)                         90+DPD              NCLs
  EOP Loans:                                                                                                    $10.92
                                                                                                 $10.51
   1Q’10: $96.4                                                                                                                $9.61
   2Q’10: $90.2                                                    $7.76          $8.16                                                     $7.98
                                                    $6.07
                                                    $6 07
                                     $4.96
                      $4.21
       $3.49

                                     $0.75          $0.87          $1.00          $1.27          $1.10          $1.07          $0.82        $0.74
       $0.36          $0.49


      1Q'08          2Q'08           3Q'08          4Q'08          1Q'09          2Q'09          3Q'09          4Q'09          1Q'10        2Q'10

   2nd Mortgages ($B)                          90+DPD              NCLs
  EOP Loans:
   1Q’10: $50.2                                                    $1.67
                                                                   $1 67          $1 68
                                                                                  $1.68
                                                                                                 $1.53
   2Q’10: $48.4                                                                                                 $1.44
                                                    $1.35                                                                      $1.29        $1.27
                                                                                  $1.16          $1.13
                      $1.03          $1.07                                                                      $0.99
       $0.92                                                       $0.93                                                       $0.85
                                                    $0.80                                                                                   $0.78
                      $0 60
                      $0.60          $0.66
       $0.52



      1Q'08          2Q'08           3Q'08          4Q'08          1Q'09          2Q'09          3Q'09          4Q'09          1Q'10        2Q'10

 S&P/Case-Shiller Home Price Index (1)
      (13.8)%        (14.9)%        (16.4)%        (18.3)%        (18.9)%        (14.6)%          (8.5)%         (2.3)%              2.0%    n/a
(1) Year-over-year change in the S&P/Case-Shiller U.S. National Home Price Index. Second quarter 2010 not yet available.
Note: Loans 90+ Days Past Due exclude loans recorded at fair value and U.S. mortgage loans that are guaranteed by U.S. government-
    sponsored agencies because the potential loss predominantly resides with the U.S. agencies.                                              19
Citi Holdings – N.A. Mortgage Delinquencies

First Mortgage Delinquencies(1) ($B)

   Days Past Due:                   180+             90 179
                                                     90-179              30-89
                                                                         30 89             30+ DPD

                                                                                               17.16          16.98

                                                                                14 56
                                                                                14.56                                        14.61
                                                                 13.80
                                                  12.84                                        5.85           6.19                             12.66
                                   10.82                         3.85           4.74                                         5.80
                    9.91                          2.88
                                   2 35
                                   2.35                                                                                                        5.07
     8 37
     8.37
                    2.18                                                                       4.66
                                                  3.19           3.91           3.42                          4.73
     1.78                          2.61
                    2.02                                                                                                     3.80
     1.71                                                                                                                                      2.91


                                   5.86           6.77           6.03           6.40           6.65           6.07
     4.88           5.70                                                                                                     5.00              4.67


    1Q 08
    1Q'08          2Q 08
                   2Q'08          3Q 08
                                  3Q'08          4Q 08
                                                 4Q'08          1Q 09
                                                                1Q'09          2Q'09
                                                                               2Q 09          3Q 09
                                                                                              3Q'09          4Q'09
                                                                                                             4Q 09          1Q 10
                                                                                                                            1Q'10          2Q 10
                                                                                                                                           2Q'10

(1) Loans 30+ 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 in 2Q’10 and 1Q’10.
Note: Totals may not sum due to rounding.
                                                                                                                                               20
Citigroup – Int’l Consumer Credit Trends
($B)
        Citicorp – Asia Consumer Banking                             Citicorp – Latin America Consumer Banking
                                        EOP       1Q’10    2Q’10
        90+DPD          NCL                                                  90+DPD           NCL
                                        Loans     $72.3    $72.6
                                                                                                      $1.02
                               $0.63
                               $0 63                                 $0 94 $0 92
                                                                     $0.94 $0.92
                       $0.58           $0.58                                                                  $0.89 $0.89 $0.86
$0.51                                          $0.51 $0.50                            $0.81 $0.84                                     $0.79
        $0.47 $0.50                                          $0.45
                                                                             $0.64                          $0.66 $0.63
                               $0.37 $0.37                                                            $0.61
                                               $0.32                 $0.56            $0.54 $0.54
                  $0.29                                                                                                       $0.51
$0.25 $0.27 $0.27                                      $0.28 $0.25                                                                    $0.46
                                                                                                EOP       1Q’10
                                                                                                          1Q 10       2Q 10
                                                                                                                      2Q’10
                                                                                                Loans     $31.5       $31.6

2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10


        Citicorp – EMEA Consumer Banking
        Citi            C        B ki                                            H ldi
                                                                                 Holdings – I t    ti   l
                                                                                            International LCL
         90+DPD         NCL                                                  90+DPD       NCL
                                                                                                      $1.55
                                                                                                              $1.47
 EOP      1Q’10       2Q’10                                                                   $1.38                   $1.36
 Loans     $7.8        $6.9                                                           $1.17
                               $0 17
                               $0.17                                 $1 00 $1 05
                                                                     $1.00 $1.05                      $0.96 $0.96             $0.95
                                                                                                                              $0 95
                                       $0.15 $0.15
                      $0.12                            $0.13 $0.12                            $0.82                   $0.78
              $0.09                                                  $0.69 $0.73 $0.73                                                $0.72
                                       $0.14 $0.14                                                                            $0.61
$0.07 $0.07
                               $0.12
                                                       $0.10 $0.09                            EOP      1Q’10      2Q’10
              $0.08 $0.09                                                                                                             $0.50
                                                                                              Loans    $27.7      $24.6
$0 05 $0.06
$0.05

2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10                2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10



                                                                                                                                21
Citigroup – Key Capital Metrics

           Tier 1 Capital
           Total Capital  (1)
           Tier 1 Common          (1)
           Tangible Common Equity
                                                                               16.6%          16.6%
                                                 15.7%          15.6%                                       15.3%          14.9%         15.6%

                                                                               12.7%          12.8%
                    12.3%       11.7%            11.9%          11.9%                                        11.7%         11.3%         12.0%
     11.2%
                                                                                              10.3%                                      11.8%
                                                                                                            10.9%          11.0%
                     8.7%                                                                                                                 9.7%
      7.7%                         8.2%
                                   8 2%
                                                                                                             9.6%
                                                                                                  9.1%                      9.1%

      4.2%           4.4%                                                      4.0%
                                   3.8%
                                                  3.1%           3.0%
      4.1%           4.3%
                                   3.7%
                                                  2.3%                          2.7%
                                                                 2.2%
                                                                                                                                              (2)
     1Q 08
     1Q'08          2Q 08
                    2Q'08          3Q'08
                                   3Q 08         4Q'08
                                                 4Q 08          1Q 09
                                                                1Q'09          2Q'09
                                                                               2Q 09          3Q 09
                                                                                              3Q'09         4Q 09
                                                                                                            4Q'09          1Q'10
                                                                                                                           1Q 10      2Q 10
                                                                                                                                      2Q'10

(1) Tier 1 Common and related ratios and Tangible Common Equity are non-GAAP financial measures. Please see slide 34 for additional
    information on these metrics.
(2) Preliminary.
                                                                                                                                        22
Conclusions

  Citigroup: Net income of $2.7B despite challenging environment

  Revenues: Difficult S&B quarter, international results for RCB and
  GTS up sequentially
    – CARD Act: $550-$800MM pre-tax impact, most of it in 2H’10
    – Market environment will be a key variable of 2H’10 S&B revenues

  Expenses: Decline in Holdings, selective investments in Citicorp
                        $11.5 $12B
    – Expected range of $11 5-$12B per quarter for the rest of the year

  Credit costs declined for the fourth consecutive quarter
    – We expect consumer credit costs to keep declining as long as the
       l b l       i           i     t i d
      global economic recovery is sustained

  Continue to de-risk: Holdings below 25% of total Citi assets

  Strong capital and liquidity
  St        it l d li idit


                                                                          23
APPENDIX



                                 Table of Contents

         g   p
 25. Citigroup – Assets                                   g                 g g
                                           30. Citi Holdings – N.A. 2nd Mortgage
                                               Delinquencies
 26. Citigroup – Deposits
                                           31. Citi Holdings – SAP Assets
 27. Citigroup – Allowance for
     Loan Losses                           32. Citi Holdings – SAP AFS/HTM
                                               Assets
 28. Citigroup – International
     Consumer Credit                       33. Citi Holdings – SAP Revenue Marks

 29. Citi Holdings – LCL EBT by            34. Non-GAAP Financial Measures
     Business




                                                                              24
Citigroup – Assets
Average ($Tr)


                                            Corp/Other                    Citicorp              Holdings



        2.28           2.22                                                                                               (1)
        0.05                          2.06           2.03                                                          2.02         2.01
                       0.06                                         1 90
                                                                    1.90                          1 89
                                                                                                  1.89
                                      0.08           0.13                          1 87
                                                                                   1.87                    1.90
                                                                                                           1 90
                                                                    0.20                                           0.26         0.27
                                                                                   0.19           0.22     0.26
        1.45           1.38
                                      1.25           1.23
                                                                    1.06
                                                                    1 06           1 07
                                                                                   1.07           1.10             1.23
                                                                                                                   1 23         1.25
                                                                                                           1.13



        0.79           0.78           0.73           0 67
                                                     0.67           0.64
                                                                    0 64           0.61
                                                                                   0 61           0 57
                                                                                                  0.57     0.51    0.52         0.49

                                                                                                                                        (2)
       1Q'08          2Q'08          3Q'08          4Q'08          1Q'09          2Q'09          3Q'09     4Q'09   1Q'10        2Q'10

    Net Interest Revenue as a % of Average Interest-Earning Assets (NIM)
     2.82%      3.17%   3.15%    3.26%     3.33%     3.24%   2.95%     2.65%                                       3.32%        3.15%
(1) The adoption of SFAS 166/167 brought $137B on balance sheet as of January 1, 2010. (2) Preliminary.
Note: Totals may not sum due to rounding.                                                                                        25
Citigroup – Deposits
EOP ($B)
                                                                                                                                                  (1)
                 Disc Ops                 Corp/Other                  Holdings                 Citicorp               Deposits % Loans

                                                                                                                  126%           123%           126%
                                                                                                   120%
                                                                                    113%
                                                                     104%
                                        97%           100%
          94%            96%



          831                                                                         805           833             836            828           814
                         804            780            774            763
          88                                                                          84             87              89             86           82
                         81              81             81             85



         728            683             685            675                           706            731             734            730           719
                                                                      664




       1Q'08           2Q'08          3Q'08          4Q'08          1Q'09           2Q'09          3Q'09          4Q'09          1Q'10          2Q'10 (2)

(1) Deposits as a percentage of net managed loans. Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's
Second Quarter 2010 Quarterly Financial Data Supplement filed on Form 8-K with the U.S. Securities and Exchange Commission on July 16, 2010.
 (2) Preliminary.                                                                                                                                26
Citigroup – Allowance for Loan Losses

          Corporate Allowances ($B)
          Consumer Allowances ($B)
                                                                                                          6.80%   6.72%
          LLR ratio                                                                               6.09%
                                                                                          5.85%
                                                                               5.60%
                                                                4.82%
                                                 4.27%
                                                                                                          48.7
                                                                                                                  46.2
                                  3.35%
                                                                                                           7.3
                  2.78%                                                                                            6.6
   2.31%                                                                        35.9      36.4    36.0
                                                                 31.7
                                                                 31 7
                                                  29.6                           8.0       8.0     7.6
                                   24.0                           7.7
                    20.8                           7.4
     18.3                           4.9                                                                   41.4    39.6
                    4.2
     3.8
                                                                                28.0
                                                                                28 0      28 4
                                                                                          28.4    28.4
                                                                                                  28 4
                                                  22.2           24.0
                    16.5           19.1
     14.5


    1Q 08
    1Q'08          2Q 08
                   2Q'08          3Q 08
                                  3Q'08          4Q 08
                                                 4Q'08          1Q 09
                                                                1Q'09          2Q'09
                                                                               2Q 09      3Q 09
                                                                                          3Q'09   4Q'09
                                                                                                  4Q 09   1Q 10
                                                                                                          1Q'10   2Q 10
                                                                                                                  2Q'10

Note: LLR ratio excludes loans recorded at fair value in 2Q’10 and 1Q’10.
     The adoption of SFAS 166/167 increased allowances by $13.4B as of January 1, 2010.

                                                                                                                   27
Citigroup – Int’l Consumer Credit
                          Rank            % of Total               90+DPD Ratio                         NCL Ratio                      % of Total
    2Q'10
                          ANR               ANR                  2Q'10     1Q'10                      2Q'10     1Q'10                    NCLs

    Citicorp
           p
    Korea                   1               20.9%                0.3%              0.3%               0.9%              1.0%             6.5%
    Mexico                  2               17.7%                2.1%              2.4%               6.0%              7.1%            36.8%
    Australia               3               10.3%                0.7%              0.7%               1.6%              1.5%             5.5%
    Singapore               4                6.5%                0.2%              0.2%               0.5%              0.6%             1.2%
    India                   5                5.5%                1.4%              1.5%               3.2%              3.9%             6.1%
    Brazil                  6                5.4%                3.4%              3.9%               6.2%              6.8%            11.6%
    Hong Kong               7                4.9%                0.1%              0.1%               0.6%              0.7%             1.0%
    Taiwan                  8                4.7%                0.4%              0.7%               0.6%              0.4%             1.0%
    Malaysia                9                4.7%                1 6%
                                                                 1.6%              1.6%
                                                                                   1 6%               1.1%              1.2%             1.8%
    Japan                   10               2.1%                0.8%              1.8%               3.1%              3.8%             2.3%
                                            82.8%                1.2%              1.3%               2.9%              3.3%            73.9%

    Holdings
    UK                      1               25 7%
                                            25.7%                2.3%
                                                                 2 3%              2.3%
                                                                                   2 3%               4 1%
                                                                                                      4.1%             4.8%
                                                                                                                       4 8%             14 4%
                                                                                                                                        14.4%
    Japan                   2               16.5%                2.2%              1.8%              16.0%            16.6%             35.6%
    Spain                   3               13.0%                6.2%              8.3%               7.7%             8.2%             13.5%
    Belgium                 4               11.3%                0.8%              2.1%               1.9%             2.3%              2.9%
    Greece                  5                9.8%                4.8%              5.1%              14.6%            13.9%             19.3%
                                            76.2%                3.0%              3.4%               7.4%             8.1%             85.6%
  Note: For 2Q’10, Citicorp total ANR of $110.9B and total NCLs of $0.8B, Citi Holdings total ANR of $30.0B and total NCLs of $0.5B.


                                                                                                                                             28
Citi Holdings – LCL EBT by Business
($MM)

                                                          Earnings Before Taxes
                                            2Q'10
                                            2Q 10       1Q 10
                                                        1Q'10       4Q'09
                                                                    4Q 09       3Q'09
                                                                                3Q 09       2Q 09
                                                                                            2Q'09
  Local Consumer Lending
     -   Retail Partner Cards                   $140       $(438)       $124       $(146)      $(887)
     -   CitiFinancial North America            (218)         13        (574)       (175)       (175)
     -   Real Estate Lending                  (1,786)     (1,525)     (2,818)     (2,473)     (4,751)
     -   Commercial Real Estate                 (152)       (247)       (112)       (137)       (111)
     -   Auto                                    123          26          40          44          33
     -   Student Loans                            16          (5)         66          75          29
     -   P i    i
         Primerica                               222         180         179         203         221
     -   LCL NA Other                           (115)       (119)       (199)       (182)        (98)
    North America                           $(1,770)    $(2,116)    $(3,294)    $(2,790)    $(5,738)
    EM EA                                      (138)       (681)       (562)       (717)       (739)
    Asia                                       (222)       (264)       (478)       (316)       (586)
    Latin America                                   1         (5)         (7)       (17)        (17)

  Local Consumer Lending                    $(2,130)    $(3,066)    $(4,342)    $(3,841)    $(7,082)
Note: Totals may not sum due to rounding.



                                                                                              29
Citi Holdings – N.A. Mortgage Delinquencies

Second Mortgage Delinquencies(1) ($B)

   Days Past Due:                   180+             90 179
                                                     90-179              30-89
                                                                         30 89             30+ DPD



                                                                  2.88           2.84
                                                                                                2.69           2.75
                                                   2.54
                                                   2 4           0.21
                                                                 0 21           0.28                                          2.53
                                                                                               0.27           0.27                             2.34
                                                  0.17                                                                       0.25
                                    2.07
                                                                                                                                               0.29
                    1.88
     1.73                          0.16                          1.46           1.40                          1.17
                    0.25
                    0 25                          1 18
                                                  1.18                                         1.26
                                                                                               1 26                          1.04
                                                                                                                             1 04
     0.24                                                                                                                                      0.98
                                   0.90
     0.69           0.78


                                                  1.19           1.20           1.16           1.16           1 31
                                                                                                              1.31           1.24
                                   1.01                                                                                                        1.07
     0.81           0.85


    1Q 08
    1Q'08          2Q 08
                   2Q'08          3Q 08
                                  3Q'08          4Q 08
                                                 4Q'08          1Q 09
                                                                1Q'09          2Q'09
                                                                               2Q 09          3Q 09
                                                                                              3Q'09          4Q'09
                                                                                                             4Q 09          1Q 10
                                                                                                                            1Q'10          2Q 10
                                                                                                                                           2Q'10

(1) Loans 30+ 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 in 2Q’10 and 1Q’10.
Note: Totals may not sum due to rounding.
                                                                                                                                               30
Citi Holdings – SAP Assets
                                                                             EOP Assets                                       2Q’10
   ($B)                                                                                                                 Face    EOP Assets
                                                            2Q’10               1Q’10               4Q’09               Value   (% of Face)

    Total Securities at AFS/HTM                              $55 1
                                                             $55.1               $58.8
                                                                                 $58 8              $62 1
                                                                                                    $62.1                $74.4
                                                                                                                         $74 4           74%
                                             (1)
    Loan, leases & LC at HFI/HFS                             $18.0               $22.1              $25.0                $23.4           77%
      Corporates                                              11.1                13.8               16.1                 12.1           92%
      Commercial Real Estate                                   8.0                 9.1                9.5                  8.9           90%
      Other                                                    2.1                 2.6                2.9                  2.5           82%
      Loan Loss Reserves                                      (3.2)               (3.5)              (3.5)                 -              NM
    Trading Mark-to-Market                                   $23.7               $28.6              $29.9                  NM             NM
      Subprime Securities                                      0.8                 5.9                7.3                  4.9           17%
                       (2)
      Other Securities                                         5.8                 5.3                5.1                 29.5           20%
      Derivatives                                              72
                                                               7.2                 68
                                                                                   6.8                6.1
                                                                                                      61                   NM             NM
      Loans, Leases and Letters of Credit                      3.7                 4.2                5.0                  5.4           67%
      Repurchase Agreements                                    6.2                 6.4                6.5                  NM             NM
    Highly Lev. Fin. Commitments                                 2.0                2.0                 2.8                 3.2          62%
    Equities (excludes ARS at AFS)                               5.9                6.3                 6.8                 NM           NM
    Monolines                                                    0.4                1.3                 1.0                 NM           NM
                                  (3)
    Consumer and Other                                           6.7                6.4                 8.4                 NM           NM

    Total                                                   $111.7             $125.5              $135.9

 (1) HFS accounts for approximately $1.4B of the 2Q’10 total. (2) Includes $1.4B of Corporates in 2Q’10.
 (3) Includes $1.7B of Small Business Banking & Finance loans and $1.0B of personal loans in 2Q’10.
 Note: SAP had total CRE assets of $11.3B as of 2Q’10. Assets in the SIVs have been allocated to their corresponding asset categories.
 Excludes Discontinued Operations.
 Totals may not sum due to rounding.
                                                                                                                                          31
Citi Holdings – SAP AFS/HTM Assets

                                                                         EOP Assets                                     2Q’10
   ($B)                                                                                                           Face    EOP Assets
                                                         2Q’10
                                                         2Q 10              1Q’10
                                                                            1Q 10              4Q 09
                                                                                               4Q’09              Value   (% of Face)

    Securities at AFS                                      $27.0             $16.4              $17.3              $33.3                 81%
      Corporates                                             7.7               7.6                7.9                7.8                 98%
      Prime and Non-U.S. MBS                                 7.1               4.7                4.9                8.6                 83%
      Auction Rate Securities                                62
                                                             6.2               24
                                                                               2.4                2.5
                                                                                                  25                 8.6
                                                                                                                     86                  72%
      Alt-A mortgages                                        0.6               -                  -                  1.3                 46%
      Government Agencies                                    0.0               0.0                0.0                0.0                 81%
                             (1)
       Other Securities                                       5.3               1.7                2.0                7.0                76%

    Securities at HTM                                      $28 1
                                                           $28.1             $42 4
                                                                             $42.4              $44 7
                                                                                                $44.7              $41 0
                                                                                                                   $41.0                 68%
      Corporates                                             6.1               7.6                8.6                7.0                 87%
      Prime and Non-U.S. MBS                                 8.3              12.8               13.9               10.4                 81%
      Auction Rate Securities                                1.0               5.3                5.3                1.2                 78%
      Alt-A mortgages                                        9.4              10.3               10.4               18.2                 52%
      Government Agencies                                    -                 -                  -                  -                    NM
                             (2)
       Other Securities                                       3.3               6.4                6.5                4.3                76%

    Total Securities at AFS/HTM                            $55.1             $58.8              $62.1              $74.4                 74%

 (1) 2Q’10 includes assets previously held by SIVs ($3.1B of ABS, CDOs/CLOs and government bonds), ABS ($1.0B) and Municipals ($0.9B).
                                                       $
 (2) 2Q’10 includes assets previously held by SIVs ($2.3B of ABS, CDOs/CLOs and government bonds).
 Note: Assets in the SIVs have been allocated to their corresponding asset categories.
      Totals may not sum due to rounding.



                                                                                                                                          32
Citi Holdings – SAP Revenue Marks
($MM)                                       2Q’08          3Q’08         4Q’08        1Q’09          2Q’09         3Q’09         4Q’09         1Q’10         2Q’10
MTM on sub-prime
related direct exposures(1) (3,395)                         (394) (4,582)             (2,296)           613          1,967           526          804        1,046
Monoline Credit Value
Adjustment (CVA)                           (2,428)          (920)         (897)       (1,090)           157             (61)        (306)         398             35
MTM on highly lev’d
finance commitments(2)                        (428)         (792)         (594)          (247)         (237)            (24)          (13)           (1)              ---
       Alt-A
MTM on Alt A
mortgages(3)                                  (277)         (932) (1,067)                (503)         (390)          (196)         (362)        (164)         (163)
Mark to market on ARS(4)                       197          (166)         (306)            (23)            ---            ---           ---          ---              (8)
MTM on CRE(3)                                 (456)         (556)         (791)            (96)        (213)          (485)           (10)         (58)        (174)
MTM on SIVs                                      11      (2,004) (1,064)
                                                         (2 004) (1 064)                   (47)           50            (40)          (43)         (24)        (123)
CVA on Citi Liabilities at
Fair Value Option                                ---           ---         233             (18)        (156)            (64)          (14)           (4)               8
Derivatives CVA(5)                               26           (23)        (453)             32          219             (61)          (18)          27           (54)
PE & Equity Inv.                               177          (403) (1,498)             (1,015)            (73)           (21)          (19)         (12)           31
Gross Revenue Marks                        (6,573) (6,190) (11,019)                   (5,303)            (31)        1,015          (258)         966           599
Non-credit Accretion(6)                          ---           ---         190            541           501            502           450          395           383
Net Revenue Marks                          (6,573) (6,190) (10,829)                   (4,762)           470          1,517           192       1,361            982

Note: Excludes Discontinued Operations.
(1) Net of impact from hedges against direct subprime ABS CDO super senior positions. (2) Net of underwriting fees. (3) Net of hedges. (4) Excludes write-
downs of $306 million in 3Q’08, $87 million in 4Q’08, $3 million in 1Q’09, $3 million in 2Q’09, $8 million in 4Q’09, $7 million in 1Q’10, $2 million in 2Q’10 and a
$6 million gain in 3Q’09 arising from the ARS buy backs. (5) CVA net of hedges. (6) Booked in the net interest revenue line.
Note: Totals may not sum due to rounding.
                                                                                                                                                            33
Non-GAAP Financial Measures
                  NON GAAP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
   $MM, except ratio
                                                                                                                                                                                 (1)
   Tangible Common Equity (TCE) Ratio Calculation                                                                         4Q'09                   1Q'10                 2Q'10
   Citigroup's Total Stockholders' Equity                                                                           $       152,700         $       151,421         $       154,806
       Less: Preferred Stock                                                                                                         312                     312                     312
   Common Stockholders' Equity
   Common Stockholders Equity                                                                                       $ 152,388
                                                                                                                    $                       $       
                                                                                                                                            $ 151,109               $       
                                                                                                                                                                    $ 154,494
       Less: Goodwill as reported                                                                                              25,392                  25,662                  25,201
       Less: Intangible Assets (other than MSR's) ‐ as reported                                                                  8,714                   8,277                   7,868
       Less: Goodwill and Intangible Assets (other than MSR's)  ‐ recorded as Assets Held for Sale                                    ‐                        45                      66
       Less: Net Deferred Taxes Related to Goodwill and Intangible Assets                                                              68                      65                      62
   Tangible Common Equity (TCE)                                                                                     $       118,214         $       117,060         $       121,297
       Risk Weighted Assets under Federal Reserve Board Capital Regulatory Guidelines (RWA)                              1,088,526               1,064,042               1,024,980
   TCE R ti (TCE/RWA)
   TCE Ratio (TCE/RWA)                                                                                                           10.9%
                                                                                                                                 10 9%                   11 0%
                                                                                                                                                         11.0%                   11.8%
                                                                                                                                                                                 11 8%
   Tangible Book Value per Share Calculation
   Tangible Common Equity (TCE)                                                                                     $       118,214         $       117,060         $       121,297
      Common Shares Outstanding, at period end                                                                                 28,483                  28,620                  28,975
   Tangible Book Value per Share                                                                                                    4.15                    4.09                    4.19

   $MM, except ratio
   Tier 1 Common Ratio Calculation                                                                                        4Q'09                   1Q'10                2Q'10(1)
   Citigroup common stockholders’ equity                                                                            $       152,388         $       151,109         $       154,494
       Less: Net unrealized losses on securities available‐for‐sale, net of tax                                                 (4,347)                 (3,165)                 (2,259)
       Less: Accumulated net losses on cash flow hedges, net of tax                                                             (3,182)                 (2,959)                 (3,184)
       Less: Pension liability adjustment, net of tax                                                                           (3,461)                 (3,509)                 (3,465)
       Less: Cumulative effect included in fair value of financial liabilities attributable to the change in own
       Less: Cumulative effect included in fair value of financial liabilities attributable to the change in own 
              credit worthiness, net of tax                                                                                          760                     686                     973
       Less: Disallowed deferred tax assets                                                                                    26,044                  30,852                  31,545
       Less: Intangible assets:
              Goodwill                                                                                                         25,392                  25,662                  25,213
              Other disallowed intangible assets                                                                                 5,899                   5,773                   5,393
       Less: Other                                                                                                                   788                     792                     776
   Total Tier 1 Common
   T t l Ti 1 C                                                                                                     $       104,495
                                                                                                                    $ 104 495               $          96 977
                                                                                                                                            $          96,977       $          99 502
                                                                                                                                                                    $          99,502
       Risk Weighted Assets under Federal Reserve Board Capital Regulatory Guidelines (RWA)                              1,088,526               1,064,042               1,024,980
   Tier 1 Common Ratio  (Total Tier 1 Common / RWA)                                                                                 9.6%                    9.1%                    9.7%
   (1) Preliminary.

                                                                                                                                                                           34
     Certain statements in this document are “forward-looking

statements” within the meaning of the Private Securities Litigation

      Reform Act of 1995. These statements are based on

management’s current expectations and are subject to uncertainty

and changes in circumstances. Actual results may differ materially
        g                                      y                 y

from those included in these statements due to a variety of factors.

                                                      Citigroup s
 More information about these factors is contained in Citigroup’s

    filings with the U.S. Securities and Exchange Commission.



                                                                  35

								
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