Citigroup (C) 8-K Other events

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Exhibit 99.1

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT

				Page Number
Citigroup Consolidated
	Financial Summary			1
	Segment Income from Continuing Operations:
		Product View		2
		Regional View		3
	Segment Net Revenues:
		Product View		4
		Regional View		5
Segment Detail
	Global Consumer:
		Cards
			Global Cards	6
			North America Cards	7
			International Cards	8
		Consumer Finance
			Global Consumer Finance	9
			North America Consumer Finance	10
			International Consumer Finance	11
		Retail Banking
			Global Retail Banking	12
			North America Retail Banking	13
			International Retail Banking	14
		Global Corporate and Investment Bank:
			Income Statement	15
			Capital Markets and Banking	16
			Transaction Services	17
		Private Client Services		18
		Global Investment Management:
			Life Insurance and Annuities	19
			Private Bank	20
			Asset Management	21
		Proprietary Investment Activities		22
Citigroup Supplemental Detail
		Consolidated Statement of Income		23
		Consolidated Balance Sheet		24
		Return on Capital		25

CITIGROUP—FINANCIAL SUMMARY
(In millions of dollars, except per share amounts)

Citigroup, the preeminent global financial services company which has 200 million
customer accounts and does business in more than 100 countries, provides consumers, corporations,
governments and institutions a complete range of financial products and services.

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Income from Continuing Operations	$	3,484		$	3,829		$	3,706		$	2,429		$	4,103		$	4,299		$	4,691		$	4,760		96%	$	13,229		$	13,448		$	17,853		33%
Discontinued Operations, After-tax		1,406			255			214			—			—			—			—			—				1,055			1,875			—
Cumulative Effect of Accounting Change		(47	)		—			—			—			—			—			—			—				(158	)		(47	)		—
Net Income	$	4,843		$	4,084		$	3,920		$	2,429		$	4,103		$	4,299		$	4,691		$	4,760		96%	$	14,126		$	15,276		$	17,853		17%
Basic Earnings Per Share:
Income from Continuing Operations	$	0.68		$	0.75		$	0.73		$	0.48		$	0.80		$	0.84		$	0.92		$	0.93		94%	$	2.61		$	2.63		$	3.49		33%
Net Income	$	0.94		$	0.80		$	0.77		$	0.48		$	0.80		$	0.84		$	0.92		$	0.93		94%	$	2.79		$	2.99		$	3.49		17%
Weighted average common shares applicable to Basic EPS		5,110.5			5,096.7			5,036.6			5,068.0			5,094.9			5,085.5			5,096.8			5,096.1				5,031.7			5,078.0			5,093.3
Preferred Dividends—Basic	$	21		$	21		$	21		$	20		$	20		$	17		$	17		$	17			$	110		$	83		$	71
Diluted Earnings Per Share:
Income from Continuing Operations	$	0.66		$	0.73		$	0.72		$	0.47		$	0.79		$	0.83		$	0.90		$	0.91		94%	$	2.55		$	2.59		$	3.42		32%
Net Income	$	0.93		$	0.78		$	0.76		$	0.47		$	0.79		$	0.83		$	0.90		$	0.91		94%	$	2.72		$	2.94		$	3.42		16%
Adjusted weighted average common shares applicable to Diluted EPS		5,209.8			5,185.8			5,110.5			5,158.6			5,168.7			5,184.0			5,206.5			5,215.2				5,147.0			5,166.2			5,193.6
Preferred Dividends—Diluted	$	21		$	21		$	21		$	20		$	20		$	17		$	17		$	17			$	110		$	83		$	71
Common Shares Outstanding, at period end		5,165.4			5,118.1			5,062.0			5,140.7			5,148.0			5,150.8			5,158.7			5,156.9				5,148.7			5,140.7			5,156.9
Tier 1 Capital Ratio		9.13	%		9.20	%		9.20	%		8.47	%		8.67	%		9.02	%		9.49	%		8.91	%			8.42	%		8.47	%		8.91	%
Total Capital Ratio		11.59	%		11.75	%		12.02	%		11.25	%		11.57	%		11.94	%		12.59	%		12.04	%			10.92	%		11.25	%		12.04	%
Leverage Ratio		5.89	%		5.93	%		5.58	%		5.67	%		5.46	%		5.61	%		5.81	%		5.56	%			5.64	%		5.67	%		5.56	%
Total Assets, at period end (in billions)	$	1,058.1		$	1,083.7		$	1,032.0		$	1,097.6		$	1,137.4		$	1,187.4		$	1,209.3		$	1,264.0			$	1,051.9		$	1,097.6		$	1,264.0
Stockholders' Equity, at period end (in billions)	$	83.6		$	85.7		$	80.8		$	86.7		$	87.3		$	93.3		$	95.3		$	98.0			$	81.2		$	86.7		$	98.0
Equity and Trust Securities, at period end (in billions)	$	90.3		$	92.5		$	86.9		$	92.9		$	94.0		$	100.0		$	102.1		$	104.1			$	88.4		$	92.9		$	104.1
Book Value Per Share, at period end	$	15.92		$	16.47		$	15.68		$	16.60		$	16.75		$	17.90		$	18.25		$	18.79			$	15.48		$	16.60		$	18.79
Return on Common Equity (Net Income)		24.0	%		19.5	%		19.1	%		11.7	%		19.3	%		19.2	%		20.2	%		19.9	%			19.7	%		18.6	%		19.8	%

*

Preliminary

Reclassified to conform to the current period's presentation.

1

CITIGROUP—INCOME FROM CONTINUING OPERATIONS
PRODUCT VIEW
(In millions of dollars)

			1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Global Consumer:
	Cards		$	583		$	718		$	832		$	910		$	717		$	758		$	980		$	1,135		25%	$	2,583		$	3,043		$	3,590		18%
	Consumer Finance			542			583			554			579			503			521			476			479		(17)%		1,851			2,258			1,979		(12)%
	Retail Banking			648			603			818			828			930			1,005			1,063			1,048		27%		2,462			2,897			4,046		40%
	Other			(36	)		(14	)		(63	)		(41	)		(28	)		(43	)		(30	)		(23	)	44%		(217	)		(154	)		(124	)	19%
		Total Global Consumer		1,737			1,890			2,141			2,276			2,122			2,241			2,489			2,639		16%		6,679			8,044			9,491		18%
Global Corporate and Investment Bank:
	Capital Markets and Banking			1,057			1,150			911			877			1,203			1,174			1,162			1,103		26%		3,859			3,995			4,642		16%
	Transaction Services			92			223			130			124			191			180			196			178		44%		464			569			745		31%
	Other(1)			(22	)		(34	)		(10	)		(1,326	)		7			(10	)		(5	)		(8	)	99%		35			(1,392	)		(16	)	99%
		Total Global Corporate and Investment Bank		1,127			1,339			1,031			(325	)		1,401			1,344			1,353			1,273		NM		4,358			3,172			5,371		69%
Private Client Services				223			229			192			177			162			185			206			239		35%		905			821			792		(4)%
Global Investment Management:
	Life Insurance and Annuities			220			140			89			193			244			200			163			185		(4)%		853			642			792		23%
	Private Bank			113			114			114			120			125			139			143			144		20%		358			461			551		20%
	Asset Management			75			96			93			87			83			82			57			102		17%		234			351			324		(8)%
		Total Global Investment Management		408			350			296			400			452			421			363			431		8%		1,445			1,454			1,667		15%
Proprietary Investment Activities				87			(21	)		(82	)		(34	)		38			63			128			137		NM		485			(50	)		366		NM
Corporate/Other				(98	)		42			128			(65	)		(72	)		45			152			41		NM		(643	)		7			166		NM
Income From Continuing Operations				3,484			3,829			3,706			2,429			4,103			4,299			4,691			4,760		96%		13,229			13,448			17,853		33%
Discontinued Operations				1,406			255			214			—			—			—			—			—				1,055			1,875			—
Cumulative Effect of Accounting Change				(47	)		—			—			—			—			—			—			—				(158	)		(47	)		—
Net Income			$	4,843		$	4,084		$	3,920		$	2,429		$	4,103		$	4,299		$	4,691		$	4,760		96%	$	14,126		$	15,276		$	17,853		17%

(1)

The 2002 fourth quarter includes a $1.3 billion after-tax charge related to the establishment of reserves for regulatory settlements and related civil litigation.

NM Not meaningful

Reclassified to conform to the current period's presentation.

2

CITIGROUP—INCOME FROM CONTINUING OPERATIONS
REGIONAL VIEW
(In millions of dollars)

			1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003		3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
North America (excluding Mexico)(1)
	Consumer		$	1,294		$	1,295		$	1,396		$	1,493		$	1,473		$	1,515	$	1,691		$	1,926		29%	$	4,587		$	5,478		$	6,605		21%
	Corporate			692			615			696			(992	)		661			579		604			698		NM		1,943			1,011			2,542		NM
	Private Client Services			223			229			192			177			162			185		206			239		35%		905			821			792		(4)%
	Investment Management			356			221			203			319			356			307		368			301		(6)%		1,198			1,099			1,332		21%
		Total North America (excluding Mexico)		2,565			2,360			2,487			997			2,652			2,586		2,869			3,164		NM		8,633			8,409			11,271		34%
Mexico
	Consumer			7			56			141			132			118			172		168			166		26%		(25	)		336			624		86%
	Corporate			185			110			50			78			107			74		120			106		36%		199			423			407		(4)%
	Investment Management			21			43			30			36			39			44		59			61		69%		23			130			203		56%
		Total Mexico		213			209			221			246			264			290		347			333		35%		197			889			1,234		39%
Europe, Middle East and Africa (EMEA)
	Consumer			137			135			162			221			149			155		189			191		(14)%		410			655			684		4%
	Corporate			120			202			102			331			239			329		233			118		(64)%		790			755			919		22%
	Investment Management			(4	)		7			3			13			(3	)		2		6			(1	)	NM		35			19			4		(79)%
		Total EMEA		253			344			267			565			385			486		428			308		(45)%		1,235			1,429			1,607		12%
Japan
	Consumer			245			277			279			230			176			195		106			106		(54)%		999			1,031			583		(43)%
	Corporate			30			4			94			(4	)		40			14		54			54		NM		120			124			162		31%
	Investment Management			16			16			11			13			17			20		25			27		NM		34			56			89		59%
		Total Japan		291			297			384			239			233			229		185			187		(22)%		1,153			1,211			834		(31)%
Asia (excluding Japan)
	Consumer			154			157			185			194			186			198		212			215		11%		646			690			811		18%
	Corporate			199			201			167			161			183			193		196			203		26%		712			728			775		6%
	Investment Management			28			28			27			30			32			38		60			38		27%		82			113			168		49%
		Total Asia		381			386			379			385			401			429		468			456		18%		1,440			1,531			1,754		15%
Latin America
	Consumer			(100	)		(30	)		(22	)		6			20			6		123			35		NM		62			(146	)		184		NM
	Corporate			(99	)		207			(78	)		101			171			155		146			94		(7)%		594			131			566		NM
	Investment Management			(9	)		35			22			(11	)		11			10		(155	)		5		NM		73			37			(129	)	NM
		Total Latin America		(208	)		212			(78	)		96			202			171		114			134		40%		729			22			621		NM
Proprietary Investment Activities				87			(21	)		(82	)		(34	)		38			63		128			137		NM		485			(50	)		366		NM
Corporate/Other				(98	)		42			128			(65	)		(72	)		45		152			41		NM		(643	)		7			166		NM
Income From Continuing Operations				3,484			3,829			3,706			2,429			4,103			4,299		4,691			4,760		96%		13,229			13,448			17,853		33%
	Discontinued Operations			1,406			255			214			—			—			—		—			—				1,055			1,875			—
	Cumulative Effect of Accounting Change			(47	)		—			—			—			—			—		—			—				(158	)		(47	)		—
Net Income			$	4,843		$	4,084		$	3,920		$	2,429		$	4,103		$	4,299	$	4,691		$	4,760		96%	$	14,126		$	15,276		$	17,853		17%

(1)

Excludes Proprietary Investment Activities and Corporate/Other.

NM Not meaningful

Reclassified to conform to the current period's presentation.

3

CITIGROUP—NET REVENUES
PRODUCT VIEW
(In millions of dollars)

			1Q 2002			2Q 2002			3Q 2002			4Q 2002		1Q 2003			2Q 2003			3Q 2003		4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002		Full Year 2003		FY 2003 vs. FY 2002 Increase/ (Decrease)
Global Consumer:
	Cards		$	3,130		$	3,203		$	3,689		$	3,615	$	3,306		$	3,296		$	3,535	$	4,473	24%	$	12,079		$	13,637	$	14,610	7%
	Consumer Finance			2,350			2,473			2,485			2,591		2,560			2,452			2,513		2,558	(1)%		8,923			9,899		10,083	2%
	Retail Banking			3,503			3,345			3,482			3,651		3,898			4,179			4,103		4,038	11%		12,488			13,981		16,218	16%
	Other			(9	)		60			(7	)		98		21			12			9		17	(83)%		(102	)		142		59	(58)%
		Total Global Consumer		8,974			9,081			9,649			9,955		9,785			9,939			10,160		11,086	11%		33,388			37,659		40,970	9%
Global Corporate and Investment Bank:
	Capital Markets and Banking			4,378			4,242			3,671			3,453		4,193			4,550			3,846		3,856	12%		16,065			15,744		16,445	4%
	Transaction Services			862			973			913			890		904			896			882		906	2%		3,646			3,638		3,588	—
	Other			(99	)		(104	)		(57	)		43		(11	)		(9	)		2		6	(86)%		(203	)		(217)		(12)	94%
		Total Global Corporate and Investment Bank		5,141			5,111			4,527			4,386		5,086			5,437			4,730		4,768	9%		19,508			19,165		20,021	4%
Private Client Services				1,517			1,560			1,436			1,352		1,333			1,454			1,493		1,564	16%		6,132			5,865		5,844	—
Global Investment Management:
	Life Insurance and Annuities			1,027			1,039			935			1,114		1,146			1,179			1,389		1,298	17%		4,405			4,115		5,012	22%
	Private Bank			427			428			410			436		460			521			510		505	16%		1,526			1,701		1,996	17%
	Asset Management			432			437			417			412		367			378			421		467	13%		1,775			1,698		1,633	(4)%
		Total Global Investment Management		1,886			1,904			1,762			1,962		1,973			2,078			2,320		2,270	16%		7,706			7,514		8,641	15%
Proprietary Investment Activities				193			28			(6	)		32		153			225			510		334	NM		916			247		1,222	NM
Corporate / Other				87			309			276			186		206			221			185		132	(29)%		(283	)		858		744	(13)%
Total Net Revenues			$	17,798		$	17,993		$	17,644		$	17,873	$	18,536		$	19,354		$	19,398	$	20,154	13%	$	67,367		$	71,308	$	77,442	9%
Managed Basis Net Revenues (1)			$	18,819		$	19,074		$	18,604		$	18,934	$	19,638		$	20,562		$	20,608	$	21,384	13%	$	70,821		$	75,431	$	82,192	9%

(1)

Segment net revenues disclosed above are prepared on an owned basis in accordance with Generally Accepted Accounting Principles (GAAP). The managed basis disclosures treat the receivables as if they had not been securitized and are still on our balance sheet, reflecting the interest revenue and expense associated with the portfolio, as well as the credit costs incurred. Although a managed basis presentation is not in conformity with GAAP, the Company believes it provides a representation of performance and key indicators of the credit card business that is consistent with the way the business is managed. For a reconciliation of managed basis revenue to GAAP revenues, see the Cards business on page 6.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

4

CITIGROUP—NET REVENUES
REGIONAL VIEW
(In millions of dollars)

			1Q 2002		2Q 2002		3Q 2002			4Q 2002		1Q 2003		2Q 2003		3Q 2003			4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002		Full Year 2003		FY 2003 vs. FY 2002 Increase/ (Decrease)
North America (excluding Mexico) (1)
	Consumer		$	5,919	$	6,005	$	6,344		$	6,598	$	6,520	$	6,594	$	6,755		$	7,524	14%	$	22,402		$	24,866	$	27,393	10%
	Corporate			2,640		2,425		2,090			1,708		2,440		2,576		2,047			1,815	6%		8,914			8,863		8,878	—
	Private Client Services			1,517		1,560		1,436			1,352		1,333		1,454		1,493			1,564	16%		6,132			5,865		5,844	—
	Investment Management			1,392		1,324		1,272			1,456		1,413		1,449		1,798			1,587	9%		5,819			5,444		6,247	15%
		Total North America (excluding Mexico)		11,468		11,314		11,142			11,114		11,706		12,073		12,093			12,490	12%		43,267			45,038		48,362	7%
Mexico
	Consumer			575		610		623			545		585		686		575			658	21%		1,221			2,353		2,504	6%
	Corporate			301		202		137			181		166		179		161			202	12%		561			821		708	(14)%
	Investment Management			144		170		123			129		135		139		150			165	28%		332			566		589	4%
		Total Mexico		1,020		982		883			855		886		1,004		886			1,025	20%		2,114			3,740		3,801	2%
Europe, Middle East and Africa (EMEA)
	Consumer			725		788		832			964		904		942		1,017			1,094	13%		2,639			3,309		3,957	20%
	Corporate			1,117		1,315		1,175			1,388		1,387		1,478		1,337			1,528	10%		5,246			4,995		5,730	15%
	Investment Management			95		109		103			123		120		132		138			172	40%		414			430		562	31%
		Total EMEA		1,937		2,212		2,110			2,475		2,411		2,552		2,492			2,794	13%		8,299			8,734		10,249	17%
Japan
	Consumer			824		965		1,057			1,002		915		813		823			823	(18)%		3,496			3,848		3,374	(12)%
	Corporate			73		39		180			41		73		105		153			189	NM		362			333		520	56%
	Investment Management			67		70		64			70		75		85		94			82	17%		222			271		336	24%
		Total Japan		964		1,074		1,301			1,113		1,063		1,003		1,070			1,094	(2)%		4,080			4,452		4,230	(5)%
Asia (excluding Japan)
	Consumer			610		636		667			690		682		723		755			781	13%		2,441			2,603		2,941	13%
	Corporate			618		642		601			552		593		631		676			694	26%		2,473			2,413		2,594	8%
	Investment Management			102		106		99			125		132		161		163			165	32%		371			432		621	44%
	Total Asia			1,330		1,384		1,367			1,367		1,407		1,515		1,594			1,640	20%		5,285			5,448		6,156	13%
Latin America
	Consumer			321		77		126			156		179		181		235			206	32%		1,189			680		801	18%
	Corporate			392		488		344			516		427		468		356			340	(34)%		1,952			1,740		1,591	(9)%
	Investment Management			86		125		101			59		98		112		(23	)		99	68%		548			371		286	(23%)
		Total Latin America		799		690		571			731		704		761		568			645	(12)%		3,689			2,791		2,678	(4)%
Proprietary Investment Activities				193		28		(6	)		32		153		225		510			334	NM		916			247		1,222	NM
Corporate / Other				87		309		276			186		206		221		185			132	(29)%		(283	)		858		744	(13)%
Total Net Revenues			$	17,798	$	17,993	$	17,644		$	17,873	$	18,536	$	19,354	$	19,398		$	20,154	13%	$	67,367		$	71,308	$	77,442	9%

(1)

Excludes Proprietary Investment Activities and Corporate / Other.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

5

GLOBAL CONSUMER
CARDS
(In millions of dollars)

		1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense		$	3,130		$	3,203		$	3,689		$	3,615		$	3,306		$	3,296		$	3,535		$	4,473		24%	$	12,079		$	13,637		$	14,610		7%
Effect of Securitization Activities			1,013			1,081			960			1,061			1,102			1,208			1,210			1,230		16%		3,454			4,115			4,750		15%
	Adjusted Revenues, Net of Interest Expense (1)		4,143			4,284			4,649			4,676			4,408			4,504			4,745			5,703		22%		15,533			17,752			19,360		9%
Total Operating Expenses			1,327			1,381			1,418			1,409			1,446			1,463			1,508			1,810		28%		5,422			5,535			6,227		13%
Provision for Credit Losses			897			729			978			806			774			678			540			943		17%		2,593			3,410			2,935		(14)%
Effect of Securitization Activities			1,013			1,081			960			1,061			1,102			1,208			1,210			1,230		16%		3,454			4,115			4,750		15%
	Adjusted Provision for Credit Losses (1)		1,910			1,810			1,938			1,867			1,876			1,886			1,750			2,173		16%		6,047			7,525			7,685		2%
Income Before Taxes			906			1,093			1,293			1,400			1,086			1,155			1,487			1,720		23%		4,064			4,692			5,448		16%
Income Taxes			323			375			461			490			369			397			507			585		19%		1,481			1,649			1,858		13%
Income from Continuing Operations		$	583		$	718		$	832		$	910		$	717		$	758		$	980		$	1,135		25%	$	2,583		$	3,043		$	3,590		18%
Average Assets (in billions of dollars)		$	57		$	60		$	66		$	70		$	68		$	62		$	64		$	85		21%	$	60		$	63		$	70		11%
Return on Assets			4.15	%		4.80	%		5.00	%		5.16	%		4.28	%		4.90	%		6.08	%		5.30	%			4.31	%		4.83	%		5.13	%
Return on Managed Assets			1.95	%		2.40	%		2.56	%		2.76	%		2.17	%		2.32	%		2.90	%		2.85	%			1.63	%		2.47	%		2.70	%
Return on Risk Capital																																		82	%

(1)

The abbreviated income statement presented above is prepared on a managed basis (a non-GAAP measure), and includes the effect of securitizations in Adjusted Revenues, Net of Interest Expense and Adjusted Provision for Credit Losses. This income statement reconciles to Income from Continuing Operations which is a GAAP measure. Securitization changes Citigroup's role from that of a lender to that of a loan servicer and removes the receivables from Citigroup's balance sheet. For securitized receivables, amounts that would otherwise be reported as net interest revenue, fee and commission revenue, and credit losses are instead components of the servicing fees earned. However, Citigroup's exposure to credit losses on the securitized receivables is contractually limited to the cash flows from the receivables. The managed basis disclosures treat the receivables as if they had not been securitized and are still on the Company's balance sheet, with related income statement amounts reported as net interest revenue, fee and commission revenue, and credit losses. Although a managed basis presentation is not in conformity with GAAP, the Company believes it provides a representation of performance and key indicators of the credit card business that is consistent with the way management reviews operating performance and allocates resources. Furthermore, investors utilize information about the credit quality of the entire managed portfolio as the results of both the held and securitized portfolios impact the overall performance of the cards business.

Reclassified to conform to the current period's presentation.

6

GLOBAL CONSUMER
CARDS
NORTH AMERICA CARDS
(In millions of dollars)

		1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense		$	2,593		$	2,633		$	3,118		$	3,020		$	2,707		$	2,689		$	2,861		$	3,731		24%	$	9,979		$	11,364		$	11,988		5%
Effect of Securitization Activities			1,013			1,081			960			1,061			1,102			1,208			1,210			1,230		16%		3,454			4,115			4,750		15%
	Adjusted Revenues, Net of Interest Expense (1)		3,606			3,714			4,078			4,081			3,809			3,897			4,071			4,961		22%		13,433			15,479			16,738		8%
Total Operating Expenses			1,045			1,079			1,143			1,121			1,134			1,160			1,179			1,387		24%		4,280			4,388			4,860		11%
Provision for Credit Losses			668			638			862			675			638			544			443			809		20%		2,192			2,843			2,434		(14)%
Effect of Securitization Activities			1,013			1,081			960			1,061			1,102			1,208			1,210			1,230		16%		3,454			4,115			4,750		15%
	Adjusted Provision for Credit Losses (1)		1,681			1,719			1,822			1,736			1,740			1,752			1,653			2,039		17%		5,646			6,958			7,184		3%
Income Before Taxes			880			916			1,113			1,224			935			985			1,239			1,535		25%		3,507			4,133			4,694		14%
Income Taxes			318			313			398			430			317			336			424			525		22%		1,274			1,459			1,602		10%
Income from Continuing Operations		$	562		$	603		$	715		$	794		$	618		$	649		$	815		$	1,010		27%	$	2,233		$	2,674		$	3,092		16%
Average Assets (in billions of dollars)		$	46		$	49		$	54		$	58		$	55		$	49		$	51		$	70		21%	$	50		$	52		$	56		8%
Return on Assets			4.95	%		4.94	%		5.25	%		5.43	%		4.56	%		5.31	%		6.34	%		5.72	%			4.47	%		5.17	%		5.52	%
Return on Managed Assets			2.07	%		2.22	%		2.42	%		2.65	%		2.07	%		2.21	%		2.67	%		2.80	%			1.56	%		2.39	%		2.58	%

(1)

The abbreviated income statement presented above is prepared on a managed basis (a non-GAAP measure), and includes the effect of securitizations in Adjusted Revenues, Net of Interest Expense and Adjusted Provision for Credit Losses. This income statement reconciles to Income from Continuing Operations which is a GAAP measure. For a discussion of managed basis reporting see the Cards business on Page 6.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

7

GLOBAL CONSUMER
CARDS
INTERNATIONAL CARDS
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	537		$	570		$	571		$	595		$	599		$	607		$	674		$	742		25%	$	2,100		$	2,273		$	2,622		15%
Total Operating Expenses		282			302			275			288			312			303			329			423		47%		1,142			1,147			1,367		19%
Provision for Credit Losses		229			91			116			131			136			134			97			134		2%		401			567			501		(12)%
Income Before Taxes		26			177			180			176			151			170			248			185		5%		557			559			754		35%
Income Taxes		5			62			63			60			52			61			83			60		—		207			190			256		35%
Income from Continuing Operations	$	21		$	115		$	117		$	116		$	99		$	109		$	165		$	125		8%	$	350		$	369		$	498		35%
Average Assets (in billions of dollars)	$	11		$	11		$	12		$	12		$	13		$	13		$	13		$	15		25%	$	10		$	11		$	14		27%
Return on Assets		0.77	%		4.19	%		3.87	%		3.84	%		3.09	%		3.36	%		5.04	%		3.31	%			3.35	%		3.21	%		3.56	%

Reclassified to conform to the current period's presentation.

8

GLOBAL CONSUMER
CONSUMER FINANCE
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	2,350		$	2,473		$	2,485		$	2,591		$	2,560		$	2,452		$	2,513		$	2,558		(1)%	$	8,923		$	9,899		$	10,083		2%
Total Operating Expenses		755			789			776			794			865			835			867			921		16%		3,444			3,114			3,488		12%
Provisions for Benefits, Claims and Credit Losses		750			775			844			925			930			957			925			915		(1)%		2,564			3,294			3,727		13%
Income Before Taxes		845			909			865			872			765			660			721			722		(17)%		2,915			3,491			2,868		(18)%
Income Taxes		303			326			311			293			262			139			245			243		(17)%		1,064			1,233			889		(28)%
Income from Continuing Operations	$	542		$	583		$	554		$	579		$	503		$	521		$	476		$	479		(17)%	$	1,851		$	2,258		$	1,979		(12)%
Average Assets (in billions of dollars)	$	91		$	94		$	98		$	100		$	104		$	105		$	104		$	106		6%	$	88		$	96		$	105		9%
Return on Assets		2.42	%		2.49	%		2.24	%		2.30	%		1.96	%		1.99	%		1.82	%		1.79	%			2.10	%		2.35	%		1.88	%
Return on Risk Capital																																	62	%

Reclassified to conform to the current period's presentation.

9

GLOBAL CONSUMER
CONSUMER FINANCE
NORTH AMERICA CONSUMER FINANCE
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	1,517		$	1,509		$	1,494		$	1,583		$	1,635		$	1,625		$	1,667		$	1,695		7%	$	5,526		$	6,103		$	6,622		9%
Total Operating Expenses		491			460			462			480			537			512			523			539		12%		2,145			1,893			2,111		12%
Provisions for Benefits, Claims and Credit Losses		508			520			496			550			559			566			552			558		1%		1,758			2,074			2,235		8%
Income Before Taxes		518			529			536			553			539			547			592			598		8%		1,623			2,136			2,276		7%
Income Taxes		190			194			196			196			199			203			220			219		12%		605			776			841		8%
Income from Continuing Operations	$	328		$	335		$	340		$	357		$	340		$	344		$	372		$	379		6%	$	1,018		$	1,360		$	1,435		6%
Average Assets (in billions of dollars)	$	69		$	70		$	72		$	75		$	78		$	78		$	79		$	81		8%	$	67		$	72		$	79		10%
Return on Assets		1.93	%		1.92	%		1.87	%		1.89	%		1.77	%		1.77	%		1.87	%		1.86	%			1.52	%		1.89	%		1.82	%

Reclassified to conform to the current period's presentation.

10

GLOBAL CONSUMER
CONSUMER FINANCE
INTERNATIONAL CONSUMER FINANCE
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	833		$	964		$	991		$	1,008		$	925		$	827		$	846		$	863		(14)%	$	3,397		$	3,796		$	3,461		(9)%
Total Operating Expenses		264			329			314			314			328			323			344			382		22%		1,299			1,221			1,377		13%
Provisions for Benefits, Claims and Credit Losses		242			255			348			375			371			391			373			357		(5)%		806			1,220			1,492		22%
Income Before Taxes		327			380			329			319			226			113			129			124		(61)%		1,292			1,355			592		(56)%
Income Taxes		113			132			115			97			63			(64	)		25			24		(75)%		459			457			48		(89)%
Income from Continuing Operations	$	214		$	248		$	214		$	222		$	163		$	177		$	104		$	100		(55)%	$	833		$	898		$	544		(39)%
Average Assets (in billions of dollars)	$	22		$	24		$	26		$	25		$	26		$	27		$	25		$	25		—	$	21		$	24		$	26		8%
Return on Assets		3.94	%		4.14	%		3.27	%		3.52	%		2.54	%		2.63	%		1.65	%		1.59	%			3.97	%		3.74	%		2.09	%

Reclassified to conform to the current period's presentation.

11

GLOBAL CONSUMER
RETAIL BANKING
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	3,503		$	3,345		$	3,482		$	3,651		$	3,898		$	4,179		$	4,103		$	4,038		11%	$	12,488		$	13,981		$	16,218		16%
Total Operating Expenses		1,942			1,910			1,826			2,024			2,102			2,241			2,226			2,296		13%		6,946			7,702			8,865		15%
Provisions for Benefits, Claims and Credit Losses		535			485			382			353			419			429			254			274		(22)%		1,645			1,755			1,376		(22)%
Income Before Taxes and Minority Interest		1,026			950			1,274			1,274			1,377			1,509			1,623			1,468		15%		3,897			4,524			5,977		32%
Income Taxes		368			338			448			435			429			493			552			410		(6)%		1,408			1,589			1,884		19%
Minority Interest, Net of Tax		10			9			8			11			18			11			8			10		(9)%		27			38			47		24%
Income from Continuing Operations	$	648		$	603		$	818		$	828		$	930		$	1,005		$	1,063		$	1,048		27%	$	2,462		$	2,897		$	4,046		40%
Average Assets (in billions of dollars)	$	177		$	179		$	183		$	209		$	227		$	230		$	234		$	237		13%	$	154		$	187		$	232		24%
Return on Assets		1.48	%		1.35	%		1.77	%		1.57	%		1.66	%		1.75	%		1.80	%		1.75	%			1.60	%		1.55	%		1.74	%
Return on Risk Capital																																	31	%

Reclassified to conform to the current period's presentation.

12

GLOBAL CONSUMER
RETAIL BANKING
NORTH AMERICA RETAIL BANKING
(In millions of dollars)

			1Q 2002			2Q 2002		3Q 2002		4Q 2002		1Q 2003		2Q 2003		3Q 2003		4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002		Full Year 2003		FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense:
Citibanking North America, Consumer Assets and CitiCapital			$	1,455		$	1,457	$	1,415	$	1,642	$	1,795	$	1,937	$	1,895	$	1,721	5%	$	5,401		$	5,969	$	7,348	23%
Primerica Financial Services				509			502		485		521		515		515		527		531	2%		1,947			2,017		2,088	4%
Mexico				429			454		462		378		432		502		371		487	29%		872			1,723		1,792	4%
	Total Revenues, Net of Interest Expense			2,393			2,413		2,362		2,541		2,742		2,954		2,793		2,739	8%		8,220			9,709		11,228	16%
Total Operating Expenses				1,347			1,308		1,213		1,378		1,435		1,551		1,541		1,529	11%		4,525			5,246		6,056	15%
Provisions for Benefits, Claims and Credit Losses				324			428		306		268		326		296		182		171	(36)%		1,240			1,326		975	(26)%
Income Before Taxes and Minority Interest				722			677		843		895		981		1,107		1,070		1,039	16%		2,455			3,137		4,197	34%
Income Taxes				265			241		290		306		302		359		360		303	(1)%		900			1,102		1,324	20%
Minority Interest, Net of Tax				10			9		8		11		18		11		8		10	(9)%		27			38		47	24%
Income from Continuing Operations			$	447		$	427	$	545	$	578	$	661	$	737	$	702	$	726	26%	$	1,528		$	1,997	$	2,826	42%
Income from Continuing Operations by Business:
	Citibanking North America, Consumer Assets and CitiCapital		$	341		$	300	$	338	$	364	$	458	$	500	$	485	$	478	31%	$	1,099		$	1,343	$	1,921	43%
	Primerica Financial Services			126			124		118		141		131		135		134		146	4%		491			509		546	7%
	Mexico			(20	)		3		89		73		72		102		83		102	40%		(62	)		145		359	NM
		Total	$	447		$	427	$	545	$	578	$	661	$	737	$	702	$	726	26%	$	1,528		$	1,997	$	2,826	42%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

13

GLOBAL CONSUMER
RETAIL BANKING
INTERNATIONAL RETAIL BANKING
(In millions of dollars)

			1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003		2Q 2003			3Q 2003		4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001		Full Year 2002			Full Year 2003		FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense:
EMEA			$	435		$	478		$	508		$	533		$	548	$	585		$	615	$	639	20%	$	1,648	$	1,954		$	2,387	22%
Japan				103			112			168			113			108		113			117		113	—		438		496			451	(9)%
Asia (excluding Japan)				350			350			384			373			391		418			422		421	13%		1,414		1,457			1,652	13%
Latin America				222			(8	)		60			91			109		109			156		126	38%		768		365			500	37%
	Total Revenues, Net of Interest Expense			1,110			932			1,120			1,110			1,156		1,225			1,310		1,299	17%		4,268		4,272			4,990	17%
Total Operating Expenses				595			602			613			646			667		690			685		767	19%		2,421		2,456			2,809	14%
Provisions for Benefits, Claims and Credit Losses				211			57			76			85			93		133			72		103	21%		405		429			401	(7)%
Income Before Taxes and Minority Interest				304			273			431			379			396		402			553		429	13%		1,442		1,387			1,780	28%
Income Taxes and Minority Interest, net of tax				103			97			158			129			127		134			192		107	(17)%		508		487			560	15%
Income from Continuing Operations			$	201		$	176		$	273		$	250		$	269	$	268		$	361	$	322	29%	$	934	$	900		$	1,220	36%
Income (loss) from Continuing Operations by Region:
	EMEA		$	83		$	93		$	101		$	93		$	99	$	97		$	118	$	130	40%	$	266	$	370		$	444	20%
	Japan			32			40			72			40			31		35			30		36	(10)%		137		184			132	(28)%
	Asia (excluding Japan)			107			112			135			123			132		143			144		140	14%		450		477			559	17%
	Latin America			(21	)		(69	)		(35	)		(6	)		7		(7	)		69		16	NM		81		(131	)		85	NM
		Total	$	201		$	176		$	273		$	250		$	269	$	268		$	361	$	322	29%	$	934	$	900		$	1,220	36%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

14

GLOBAL CORPORATE AND INVESTMENT BANK
INCOME STATEMENT
(In millions of dollars)

				1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001		Full Year 2002		Full Year 2003		FY 2003 vs. FY 2002 Increase/ (Decrease)
Revenues:
	Commissions and Fees			$	562		$	555		$	555		$	508		$	409		$	487		$	489		$	443	(13)%	$	2,060	$	2,180	$	1,828	(16)%
	Asset Management and Administration Fees				425			461			464			474			520			546			555			587	24%		1,632		1,824		2,208	21%
	Investment Banking				904			985			770			853			826			1,022			707			922	8%		4,002		3,512		3,477	(1)%
	Principal Transactions				1,296			1,071			924			438			1,258			988			847			552	26%		4,260		3,729		3,645	(2)%
	Other				(107	)		5			135			179			174			350			212			171	(4)%		535		212		907	NM
		Total Non-Interest Revenues			3,080			3,077			2,848			2,452			3,187			3,393			2,810			2,675	9%		12,489		11,457		12,065	5%
		Net Interest and Dividends			2,061			2,034			1,679			1,934			1,899			2,044			1,920			2,093	8%		7,019		7,708		7,956	3%
			Total Revenues, Net of Interest Expense		5,141			5,111			4,527			4,386			5,086			5,437			4,730			4,768	9%		19,508		19,165		20,021	4%
Non-Interest Expenses:
	Compensation and Benefits				2,052			1,894			1,381			1,083			2,004			2,110			1,617			1,449	34%		7,333		6,410		7,180	12%
	Other Operating and Administrative Expenses				827			922			909			3,025			946			1,076			1,061			1,192	(61)%		4,572		5,683		4,275	(25)%
		Total Non-Interest Expenses			2,879			2,816			2,290			4,108			2,950			3,186			2,678			2,641	(36)%		11,905		12,093		11,455	(5)%
Provision for Credit Losses					568			265			664			758			116			298			76			242	(68)%		844		2,255		732	(68)%
Income (Loss) Before Taxes and Minority Interest					1,694			2,030			1,573			(480	)		2,020			1,953			1,976			1,885	NM		6,759		4,817		7,834	63%
Income Taxes (Benefits)					564			686			538			(168	)		614			597			615			600	NM		2,375		1,620		2,426	50%
Minority Interest, Net of Tax					3			5			4			13			5			12			8			12	(8)%		26		25		37	48%
	Income (Loss) from Continuing Operations			$	1,127		$	1,339		$	1,031		$	(325	)	$	1,401		$	1,344		$	1,353		$	1,273	NM	$	4,358	$	3,172	$	5,371	69%
Pre-tax Profit Margin					33.0	%		39.7	%		34.7	%		(10.9	)%		39.7	%		35.9	%		41.8	%		39.5%			34.6%		25.1%		39.1%
Non-Compensation Expenses as a Percent of Net Revenues					16.1	%		18.0	%		20.1	%		69.0	%		18.6	%		19.8	%		22.4	%		25.0%			23.4%		29.7%		21.4%
Compensation and Benefits Expenses as a Percent of Net Revenues					39.9	%		37.1	%		30.5	%		24.7	%		39.4	%		38.8	%		34.2	%		30.4%			37.6%		33.4%		35.9%
Compensation and Benefits Expenses as a Percent of Risk Adjusted Revenues(1)					44.9	%		39.1	%		35.7	%		29.9	%		40.3	%		41.1	%		34.7	%		32.0%			39.3%		37.9%		37.2%

(1)

Risk Adjusted Revenues represent Revenues net of Interest Expense less Provision for Credit Losses.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

15

GLOBAL CORPORATE AND INVESTMENT BANK
CAPITAL MARKETS AND BANKING
(In millions of dollars)

	1Q 2002		2Q 2002		3Q 2002		4Q 2002		1Q 2003		2Q 2003		3Q 2003		4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001		Full Year 2002		Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	4,378	$	4,242	$	3,671	$	3,453	$	4,193	$	4,550	$	3,846	$	3,856	12%	$	16,065	$	15,744	$	16,445		4%
Total Operating Expenses		2,275		2,222		1,695		1,479		2,354		2,546		2,053		1,957	32%		9,212		7,671		8,910		16%
Provision for Credit Losses		499		262		576		709		107		286		73		272	(62)%		823		2,046		738		(64)%
Income Before Taxes and Minority Interest		1,604		1,758		1,400		1,265		1,732		1,718		1,720		1,627	29%		6,030		6,027		6,797		13%
Income Taxes		545		605		484		374		524		532		550		512	37%		2,153		2,008		2,118		5%
Minority Interest, Net of Tax		2		3		5		14		5		12		8		12	(14)%		18		24		37		54%
Income from Continuing Operations	$	1,057	$	1,150	$	911	$	877	$	1,203	$	1,174	$	1,162	$	1,103	26%	$	3,859	$	3,995	$	4,642		16%
Return on Risk Capital																							31	%

Reclassified to conform to the current period's presentation.

16

GLOBAL CORPORATE AND INVESTMENT BANK
TRANSACTION SERVICES
(In millions of dollars)

	1Q 2002		2Q 2002		3Q 2002		4Q 2002		1Q 2003		2Q 2003		3Q 2003		4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001		Full Year 2002		Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	862	$	973	$	913	$	890	$	904	$	896	$	882	$	906		2%	$	3,646	$	3,638	$	3,588		(1)%
Total Operating Expenses		653		630		633		667		625		634		618		679		2%		2,874		2,583		2,556		(1)%
Provision for Credit Losses		69		3		88		49		9		12		3		(30	)	NM		21		209		(6	)	NM
Income Before Taxes and Minority Interest		140		340		192		174		270		250		261		257		48%		751		846		1,038		23%
Income Taxes and Minority Interest, net of tax		48		117		62		50		79		70		65		79		58%		287		277		293		6%
Income from Continuing Operations	$	92	$	223	$	130	$	124	$	191	$	180	$	196	$	178		44%	$	464	$	569	$	745		31%
Return on Risk Capital																								50	%

NM Not meaningful

Reclassified to conform to the current period's presentation.

17

PRIVATE CLIENT SERVICES
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Revenues:
Fee-Based and Net Interest Revenue	$	764		$	792		$	718		$	649		$	677		$	667		$	730		$	770		19%	$	3,100		$	2,923		$	2,844		(3)%
Commissions and Other Transactional Revenue		753			768			718			703			656			787			763			794		13%		3,023			2,942			3,000		2%
Total Revenues, Net of Interest Expense		1,517			1,560			1,436			1,352			1,333			1,454			1,493			1,564		16%		6,132			5,865			5,844		—
Total Operating Expenses		1,165			1,198			1,133			1,059			1,072			1,156			1,162			1,177		11%		4,711			4,555			4,567		—
Provision for Credit Losses		—			2			—			4			1			—			—			—		(100)%		4			6			1		(83)%
Income Before Taxes		352			360			303			289			260			298			331			387		34%		1,417			1,304			1,276		(2)%
Income Taxes		129			131			111			112			98			113			125			148		32%		512			483			484		—
Income from Continuing Operations	$	223		$	229		$	192		$	177		$	162		$	185		$	206		$	239		35%	$	905		$	821		$	792		(4)%
Pretax Profit Margin		23	%		23	%		21	%		21	%		20	%		20	%		22	%		25	%			23	%		22	%		22	%
Return on Risk Capital																																	64	%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

18

GLOBAL INVESTMENT MANAGEMENT
LIFE INSURANCE AND ANNUITIES—Page 1
(In millions of dollars)

	1Q 2002		2Q 2002		3Q 2002		4Q 2002		1Q 2003		2Q 2003		3Q 2003		4Q 2003		4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001		Full Year 2002		Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	1,027	$	1,039	$	935	$	1,114	$	1,146	$	1,179	$	1,389	$	1,298	17%	$	4,405	$	4,115	$	5,012		22%
Total Operating Expenses		92		112		124		173		179		184		208		217	25%		395		501		788		57%
Provision for Benefits and Claims		616		735		698		677		680		718		925		839	24%		2,745		2,726		3,162		16%
Income Before Taxes		319		192		113		264		287		277		256		242	(8)%		1,265		888		1,062		20%
Income Taxes and Minority Interest, net of tax		99		52		24		71		43		77		93		57	(20)%		412		246		270		10%
Income from Continuing Operations	$	220	$	140	$	89	$	193	$	244	$	200	$	163	$	185	(4)%	$	853	$	642	$	792		23%
Return on Risk Capital																							21	%

Reclassified to conform to the current period's presentation.

19

GLOBAL INVESTMENT MANAGEMENT
PRIVATE BANK
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	427		$	428		$	410		$	436		$	460		$	521		$	510		$	505		16%	$	1,526		$	1,701		$	1,996		17%
Total Operating Expenses		257			261			237			252			275			311			298			299		19%		946			1,007			1,183		17%
Provision for Credit Losses		6			—			5			7			4			6			2			(1	)	NM		23			18			11		(39)%
Income Before Taxes		164			167			168			177			181			204			210			207		17%		557			676			802		19%
Income Taxes		51			53			54			57			56			65			67			63		11%		199			215			251		17%
Income from Continuing Operations	$	113		$	114		$	114		$	120		$	125		$	139		$	143		$	144		20%	$	358		$	461		$	551		20%
Average Assets (in billions of dollars)	$	28		$	29		$	29		$	30		$	34		$	38		$	39		$	40		33%	$	26		$	29		$	38		31%
Return on Assets		1.64	%		1.58	%		1.56	%		1.59	%		1.49	%		1.47	%		1.45	%		1.43	%			1.38	%		1.59	%		1.45	%
Client Business Volumes (in billions of dollars)(1)	$	166		$	163		$	163		$	170		$	172		$	180		$	186		$	195		15%	$	159		$	170		$	195		15%
Return on Risk Capital																																	88	%

(1)

Client Business Volumes reflect the inclusion of Banamex beginning in the 2002 third quarter.

NM Not meaningful

Reclassified to conform to the current period's presentation.

20

GLOBAL INVESTMENT MANAGEMENT
ASSET MANAGEMENT
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	432		$	437		$	417		$	412		$	367		$	378		$	421		$	467		13%	$	1,775		$	1,698		$	1,633		(4)%
Total Operating Expenses		318			298			280			293			254			264			322			308		5%		1,371			1,189			1,148		(3)%
Income Before Taxes and Minority Interest		114			139			137			119			113			114			99			159		34%		404			509			485		(5)%
Income Taxes		39			42			44			32			30			31			42			46		44%		152			157			149		(5)%
Minority Interest, Net of Tax		—			1			—			—			—			1			—			11		—		18			1			12		NM
Income from Continuing Operations	$	75		$	96		$	93		$	87		$	83		$	82		$	57		$	102		17%	$	234		$	351		$	324		(8)%
Pre-tax profit margin		26.4	%		31.8	%		32.9	%		28.9	%		30.8	%		30.2	%		23.5	%		34.0	%			22.8	%		30.0	%		29.7	%
Return on Risk Capital																																	44	%

NM Not meaningful

Reclassified to conform to the current period's presentation.

21

PROPRIETARY INVESTMENT ACTIVITIES(1)
(In millions of dollars)

	1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003		2Q 2003		3Q 2003		4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Total Revenues, Net of Interest Expense(2)	$	193		$	28		$	(6	)	$	32		$	153	$	225	$	510	$	334		NM	$	916		$	247		$	1,222		NM
Total Operating Expenses		52			48			76			62			78		91		84		140		NM		177			238			393		65%
Provision for Credit Losses		—			—			9			22			—		1		—		(1	)	NM		—			31			—		(100)%
Income (Loss) Before Taxes and Minority Interest		141			(20	)		(91	)		(52	)		75		133		426		195		NM		739			(22	)		829		NM
Income Taxes (Benefits)		55			(8	)		(23	)		(19	)		29		53		153		53		NM		259			5			288		NM
Minority Interest, Net of Tax		(1	)		9			14			1			8		17		145		5		NM		(5	)		23			175		NM
Income (Loss) from Continuing Operations(2)	$	87		$	(21	)	$	(82	)	$	(34	)	$	38	$	63	$	128	$	137		NM	$	485		$	(50	)	$	366		NM
Return on Risk Capital																														9	%

(1)

Includes Venture Capital Activities and certain other corporate investments.

(2)

The 2002 third quarter includes $527 million ($323 million after-tax) related to the gain on sale of 399 Park Avenue.

NM Not meaningful

Reclassified to conform to the current period's presentation.

22

CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)

			1Q 2002			2Q 2002			3Q 2002			4Q 2002			1Q 2003			2Q 2003			3Q 2003			4Q 2003			4Q 2003 vs. 4Q 2002 Increase/ (Decrease)	Full Year 2001			Full Year 2002			Full Year 2003			FY 2003 vs. FY 2002 Increase/ (Decrease)
Revenues
	Loan interest, including fees		$	9,159		$	9,517		$	9,686		$	9,541		$	9,470		$	9,312		$	9,098		$	10,230		7%	$	39,588		$	37,903		$	38,110		1%
	Other interest and dividends			4,944			5,483			5,398			5,211			4,875			4,776			4,755			4,531		(13)%		24,896			21,036			18,937		(10)%
	Insurance premiums			780			931			855			844			825			839			1,071			1,014		20%		3,450			3,410			3,749		10%
	Commissions and fees			3,928			4,105			3,612			3,613			3,700			4,049			4,132			4,433		23%		15,593			15,258			16,314		7%
	Principal transactions			1,613			1,270			993			637			1,602			1,311			1,307			900		41%		5,544			4,513			5,120		13%
	Asset management and administration fees			1,320			1,377			1,263			1,186			1,251			1,354			1,426			1,634		38%		5,389			5,146			5,665		10%
	Realized gains (losses) from sales of investments			30			(190	)		(165	)		(160	)		162			188			115			45		NM		237			(485	)		510		NM
	Other income			880			1,108			1,863			1,924			1,314			2,011			1,430			1,553		(19)%		4,463			5,775			6,308		9%
		Total revenues		22,654			23,601			23,505			22,796			23,199			23,840			23,334			24,340		7%		99,160			92,556			94,713		2%
		Interest expense		4,856			5,608			5,861			4,923			4,663			4,486			3,936			4,186		(15)%		31,793			21,248			17,271		(19)%
		Total revenues, net of interest expense		17,798			17,993			17,644			17,873			18,536			19,354			19,398			20,154		13%		67,367			71,308			77,442		9%
Benefits, Claims, and Credit Losses
	Policyholder benefits and claims			803			925			887			863			871			901			1,107			1,016		18%		3,520			3,478			3,895		12%
	Provision for credit losses			2,559			2,057			2,689			2,690			2,053			2,186			1,614			2,193		(18)%		6,800			9,995			8,046		(19)%
		Total benefits, claims, and credit losses		3,362			2,982			3,576			3,553			2,924			3,087			2,721			3,209		(10)%		10,320			13,473			11,941		(11)%
Operating Expenses
	Non-insurance compensation and benefits			5,090			4,979			4,387			4,194			5,306			5,544			5,228			5,210		24%		19,449			18,650			21,288		14%
	Net occupancy expense			960			988			1,001			1,056			1,041			1,064			1,045			1,130		7%		3,735			4,005			4,280		7%
	Technology / communication expense			778			780			762			819			798			793			899			924		13%		3,068			3,139			3,414		9%
	Insurance underwriting, acquisition and operating			269			233			230			260			264			265			262			272		5%		1,115			992			1,063		7%
	Restructuring-related items			46			(40	)		(41	)		20			(13	)		(1	)		(11	)		(21	)	NM		454			(15	)		(46	)	NM
	Other operating			1,913			2,207			2,101			4,306			2,156			2,306			2,190			2,517		(42)%		8,707			10,527			9,169		(13)%
		Total operating expenses		9,056			9,147			8,440			10,655			9,552			9,971			9,613			10,032		(6)%		36,528			37,298			39,168		5%
Income from Continuing Operations before Income Taxes, Minority Interest and Cumulative Effect of Accounting Change				5,380			5,864			5,628			3,665			6,060			6,296			7,064			6,913		89%		20,519			20,537			26,333		28%
Provision for income taxes				1,879			2,017			1,898			1,204			1,919			1,956			2,208			2,112		75%		7,203			6,998			8,195		17%
Minority interest, net of income taxes				17			18			24			32			38			41			165			41		28%		87			91			285		NM
Income from Continuing Operations before Cumulative Effect of Accounting Change				3,484			3,829			3,706			2,429			4,103			4,299			4,691			4,760		96%		13,229			13,448			17,853		33%
Discontinued Operations(1)
	Income from Discontinued Operations			455			359			151			—			—			—			—			—				1,378			965			—
	Gain on Sale of Stock by Subsidiary			1,270			—			—			—			—			—			—			—				—			1,270			—
	Provision (benefit) for income taxes			319			104			(63	)		—			—			—			—			—				323			360			—
Income from Discontinued Operations				1,406			255			214			—			—			—			—			—				1,055			1,875			—
Cumulative Effect of Accounting Change (2)				(47	)		—			—			—			—			—			—			—				(158	)		(47	)		—
Net Income			$	4,843		$	4,084		$	3,920		$	2,429		$	4,103		$	4,299		$	4,691		$	4,760		96%	$	14,126		$	15,276		$	17,853		17%

(1)

Travelers Property Casualty Corp. (TPC) (a wholly-owned subsidiary of Citigroup on December 31, 2001) sold 231,000,000 shares of its class A common stock at $18.50 per share in an initial public offering (IPO) on March 27, 2002. Citigroup made a tax-free distribution to its stockholders of a portion of its ownership interest in TPC on August 20, 2002. Discontinued Operations includes the operations of TPC, the $1.270 billion ($1.158 billion after-tax) gain on the IPO and income taxes on the operations and IPO gain. Citigroup remains a holder of approximately 9.9% of TPC's common equity.

(2)

Accounting Change refers to the 2002 first quarter adoption of the remaining provisions of Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets" (SFAS 142).

NM

Not meaningful

Reclassified to conform to the current period's presentation.

23

CITIGROUP CONSOLIDATED BALANCE SHEET(1)
(In millions of dollars)

				December 31, 2001			March 31, 2002			June 30, 2002			September 30, 2002			December 31, 2002			March 31, 2003			June 30, 2003			September 30, 2003			December 31, 2003			December 31, 2003 vs. December 31, 2002 Inc(Decr)
Assets
Cash and due from banks (including segregated cash and other deposits)				$	18,515		$	15,984		$	17,686		$	15,886		$	17,326		$	19,731		$	21,816		$	24,688		$	21,149		22	%
Deposits at interest with banks					19,216			17,189			16,768			15,183			16,382			19,173			18,785			21,504			19,777		21	%
Federal funds sold and securities borrowed or purchased under agreements to resell					134,809			150,605			148,384			157,482			139,946			158,052			167,260			175,458			172,174		23	%
Brokerage receivables					35,155			26,848			21,050			21,208			25,358			25,606			43,955			35,372			26,476		4	%
Trading account assets					144,904			145,059			163,867			161,803			155,208			173,099			174,324			190,851			235,319		52	%
Investments					161,376			172,332			173,185			142,328			169,513			181,750			189,000			185,487			182,892		8	%
Loans, net of unearned income
	Consumer				277,974			275,631			289,105			293,365			337,681			332,607			329,695			338,614			379,932		13	%
	Corporate				113,420			113,083			113,870			110,251			110,124			105,425			108,876			102,962			98,074		(11	)%
Loans, net of unearned income					391,394			388,714			402,975			403,616			447,805			438,032			438,571			441,576			478,006		7	%
Allowance for credit losses					(9,688	)		(10,120	)		(10,037	)		(10,320	)		(11,101	)		(11,049	)		(11,167	)		(10,843	)		(12,643	)	(14	)%
	Total loans, net				381,706			378,594			392,938			393,296			436,704			426,983			427,404			430,733			465,363		7	%
Goodwill					23,861			25,506			25,604			22,559			26,961			26,605			26,960			26,757			27,581		2	%
Intangible assets					9,003			8,885			8,844			7,776			8,509			8,233			7,792			8,674			13,881		63	%
Reinsurance recoverables					12,373			12,531			12,481			4,328			4,356			4,361			4,431			4,511			4,577		5	%
Separate and variable accounts					25,569			25,981			24,017			21,522			22,118			21,778			24,268			25,135			27,473		24	%
Other assets					85,363			78,543			78,882			68,597			75,209			72,002			81,440			80,153			67,370		(10	)%
Total assets				$	1,051,850		$	1,058,057		$	1,083,706		$	1,031,968		$	1,097,590		$	1,137,373		$	1,187,435		$	1,209,323		$	1,264,032		15	%
Liabilities
		Non-interest-bearing deposits in U.S. offices		$	23,054		$	21,652		$	21,475		$	22,469		$	29,545		$	28,977		$	26,579		$	27,617		$	30,074		2	%
		Interest-bearing deposits in U.S. offices			110,388			119,083			114,466			118,101			141,787			145,354			146,178			146,392			146,675		3	%
		Non-interest-bearing deposits in offices outside the U.S.			18,779			18,488			19,706			19,343			21,422			21,099			23,165			22,579			22,940		7	%
		Interest-bearing deposits in offices outside the U.S.			222,304			223,166			239,231			230,914			238,141			248,676			252,062			257,654			274,326		15	%
Total deposits					374,525			382,389			394,878			390,827			430,895			444,106			447,984			454,242			474,015		10	%
Federal funds purchased and securities loaned or sold under agreements to repurchase					153,511			165,120			171,619			164,946			162,643			178,459			172,864			168,125			181,156		11	%
Brokerage payables					32,891			25,790			21,175			19,766			22,024			24,989			45,779			35,805			37,330		69	%
Trading account liabilities					80,543			81,537			86,564			95,699			91,426			92,659			101,998			107,037			121,869		33	%
Contractholder funds and separate and variable accounts					48,932			49,992			49,925			48,347			49,331			50,339			53,363			55,499			58,402		18	%
Insurance policy and claims reserves					49,294			49,840			50,129			16,304			16,350			16,459			16,714			16,908			17,478		7	%
Investment banking and brokerage borrowings					16,480			18,854			18,058			19,951			21,353			21,932			20,782			22,542			22,442		5	%
Short-term borrowings					24,461			24,805			24,638			27,991			30,629			28,495			32,949			40,698			36,187		18	%
Long-term debt					121,631			117,757			114,580			109,672			126,927			133,125			131,350			145,990			162,702		28	%
Other liabilities (2)					61,210			51,629			59,657			51,611			53,142			52,811			63,633			60,330			48,380		(9	)%
Citigroup or subsidiary obligated mandatorily redeemable securities of subsidiary trusts holding solely junior subordinated debt securities of
			—Parent		4,850			4,326			4,435			4,605			4,657			5,563			5,615			5,809			5,217		12	%
			—Subsidiary		2,275			2,380			2,333			1,483			1,495			1,095			1,103			1,079			840		(44	)%
Total liabilities					970,603			974,419			997,991			951,202			1,010,872			1,050,032			1,094,134			1,114,064			1,166,018		15	%
Stockholders' equity
Preferred Stock					1,525			1,400			1,400			1,400			1,400			1,126			1,125			1,125			1,125		(20	)%
Common Stock					55			55			55			55			55			55			55			55			55		—
Additional paid-in capital					23,196			23,860			23,815			16,795			17,381			17,450			17,412			17,524			17,531		1	%
Retained earnings					69,803			73,798			76,924			79,911			81,403			84,453			87,698			90,555			93,483		15	%
Treasury stock					(11,099	)		(11,194	)		(12,624	)		(14,363	)		(11,637	)		(11,390	)		(11,384	)		(11,241	)		(11,524	)	1	%
Accumulated other changes in equity from nonowner sources					(844	)		(1,770	)		(1,726	)		(1,095	)		(193	)		(1,055	)		904			(492	)		(806	)	NM
Unearned compensation					(1,389	)		(2,511	)		(2,129	)		(1,937	)		(1,691	)		(3,298	)		(2,509	)		(2,267	)		(1,850	)	(9	)%
Total stockholders' equity					81,247			83,638			85,715			80,766			86,718			87,341			93,301			95,259			98,014		13	%
Total liabilities and stockholders' equity				$	1,051,850		$	1,058,057		$	1,083,706		$	1,031,968		$	1,097,590		$	1,137,373		$	1,187,435		$	1,209,323		$	1,264,032		15	%

(1)

Periods prior to September 30, 2002 include balances for Travelers Property Casualty Corp.

(2)

Includes allowance for credit losses for letters of credit and unfunded lending commitments of $450, $510, $510 and $567 million for the first, second, third and fourth quarters of 2002, respectively, and $567, $567, $526 and $600 million for the first, second, third and fourth quarters of 2003, respectively.

NM Not meaningful

Reclassified to conform to the current period's presentation.

24

CITIGROUP—RETURN ON CAPITAL(A)

						Return on Risk Capital	Return on Invested Capital
			Average Risk Capital
						Full Year 2003	Full Year 2003
			Full Year 2003
Global Consumer:
	Cards		$	4,375		82%	35%
	Consumer Finance			3,183		62%	21%
	Retail Banking			12,883		31%	16%
	Other			—		NM	NM
		Total Global Consumer		20,441		46%	21%
Global Corporate and Investment Bank:
	Capital Markets and Banking			14,785		31%	24%
	Transaction Services			1,479		50%	34%
	Other			—		NM	NM
	Total Global Corporate and Investment Bank			16,264		33%	25%
Private Client Services				1,239		64%	48%
Global Investment Management:
	Life Insurance and Annuities			3,743		21%	16%
	Private Bank			627		88%	85%
	Asset Management			737		44%	11%
		Total Global Investment Management		5,107		33%	19%
Proprietary Investment Activities				3,945		9%	7%
Corporate/Other(B)				(672	)	NM	NM
Total Citigroup(C)			$	46,324		39%	20%

(A)

Return on Risk Capital is a non-GAAP measure that is defined as income divided by Risk Capital. Return on Invested Capital is a similar calculation but includes adjustments for goodwill and intangibles in both the numerator and denominator, similar to those necessary to translate return on tangible equity to return on total equity. Return on Risk Capital and Return on Invested Capital are non-GAAP performance measures. Return on Risk Capital is primarily used to make incremental investment decisions and serve as a key metric for organic growth initiatives. Return on Invested Capital is used for acquisition investment decisions and as a long term performance measure.

(B)

Average Risk Capital is net of the cross-sector diversification. Average Invested Capital includes the difference between Tangible Equity and Risk Capital, which is also included in the Total Citigroup Return on Invested Capital.

(C)

Total Citigroup Return on Invested Capital equals Citigroup Return on Equity.

NM Not meaningful

25

QuickLinks

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT