Citigroup (C) 8-K Other Events

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 99.1

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

	1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005
Income from Continuing Operations	$	4,964		$	916		$	5,026		$	5,148		$	5,115
Discontinued Operations, After-tax		309			228			282			173			326
Net Income	$	5,273		$	1,144		$	5,308		$	5,321		$	5,441
Basic Earnings Per Share:
Income from Continuing Operations	$	0.97		$	0.18		$	0.98		$	1.00		$	0.99
Net Income	$	1.03		$	0.22		$	1.03		$	1.04		$	1.06
Weighted average common shares applicable to Basic EPS		5,095.6			5,100.5			5,112.3			5,120.3			5,133.3
Preferred Dividends—Basic	$	17		$	17		$	17		$	17		$	17
Diluted Earnings Per Share:
Income from Continuing Operations	$	0.95		$	0.17		$	0.96		$	0.98		$	0.98
Net Income	$	1.01		$	0.22		$	1.02		$	1.02		$	1.04
Adjusted weighted average common shares applicable to Diluted EPS		5,203.1			5,201.3			5,205.6			5,219.5			5,226.0
Preferred Dividends—Diluted	$	17		$	17		$	17		$	17		$	17
Common Shares Outstanding, at period end		5,171.5			5,180.3			5,189.8			5,194.6			5,202.2
Tier 1 Capital Ratio		8.96	%		8.16	%		8.37	%		8.74	%		8.78	%
Total Capital Ratio		12.25	%		11.31	%		11.49	%		11.85	%		12.03	%
Leverage Ratio		5.40	%		4.88	%		5.01	%		5.20	%		5.19	%
Total Assets, at period end (in billions)	$	1,317.6		$	1,396.6		$	1,436.6		$	1,484.1		$	1,489.9
Stockholders' Equity, at period end (in billions)	$	101.9		$	98.3		$	103.4		$	109.3		$	110.5
Equity and Trust Securities, at period end (in billions)	$	108.2		$	104.5		$	110.2		$	115.5		$	116.9
Book Value Per Share, at period end	$	19.48		$	18.76		$	19.70		$	20.82		$	21.03
Return on Common Equity (Net Income)		21.3	%		4.6	%		21.3	%		20.1	%		20.3	%
Return on Risk Capital (Income from Continuing Operations)		46	%		8	%		42	%		43	%		40	%

1

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

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005
Global Consumer:
	Cards		$	980		$	1,012		$	1,267		$	1,441		$	1,086
	Consumer Finance			567			594			643			584			629
	Retail Banking			1,168			1,192			1,271			1,173			1,309
	Other (1)			(94	)		304			(62	)		(53	)		(181	)
		Total Global Consumer		2,621			3,102			3,119			3,145			2,843
Corporate and Investment Banking:
	Capital Markets and Banking			1,477			1,502			1,159			1,257			1,439
	Transaction Services			235			262			286			262			245
	Other (1) (2)			(4	)		(4,569	)		7			168			(5	)
		Total Corporate and Investment Banking		1,708			(2,805	)		1,452			1,687			1,679
Global Wealth Management:
	Smith Barney			252			211			198			230			197
	Private Bank (3)			159			152			136			(129	)		122
		Total Global Wealth Management		411			363			334			101			319
Alternative Investments				33			278			117			340			362
Corporate/Other				191			(22	)		4			(125	)		(88	)
Income From Continuing Operations				4,964			916			5,026			5,148			5,115
Discontinued Operations (4)(5)				309			228			282			173			326
Net Income			$	5,273		$	1,144		$	5,308		$	5,321		$	5,441

(1)

The 2004 second quarter includes a $756 million after-tax gain ($378 million in Consumer Other and $378 million in CIB Other) related to the sale of The Samba Financial Group (Samba).

(2)

The 2004 second quarter includes a $4.95 billion after-tax charge related to the WorldCom Settlement and increase in Litigation Reserves.

(3)

The 2004 fourth quarter includes a $244 million after-tax charge related to the exit plan implementation for the Company's Private Bank operations in Japan.

(4)

Discontinued Operations includes the operations from the Company's sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance business, to MetLife, Inc. The transaction closed on July 1, 2005.

(5)

Discontinued Operations includes the operations from the Company's June 24, 2005 announced agreement for the sale of substantially all of Citigroup's Asset Management business to Legg Mason, Inc. The transaction is subject to certain domestic and international regulatory approvals, as well as other customary conditions to closing and is expected to close during the 2005 fourth quarter.

Reclassified to conform to the current period's presentation.

2

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

			1Q 2004		2Q 2004			3Q 2004		4Q 2004			1Q 2005
North America (excluding Mexico) (1)
	Global Consumer		$	1,748	$	1,785		$	2,123	$	2,071		$	1,905
	Corporate and Investment Banking			746		(4,244	)		501		807			893
	Global Wealth Management			315		282			272		310			273
		Total North America (excluding Mexico)		2,809		(2,177	)		2,896		3,188			3,071
Mexico
	Global Consumer			228		235			249		267			277
	Corporate and Investment Banking			94		184			198		183			83
	Global Wealth Management			16		12			13		11			13
		Total Mexico		338		431			460		461			373
Europe, Middle East and Africa (EMEA)
	Global Consumer			203		601			154		224			121
	Corporate and Investment Banking			265		662			124		85			188
	Global Wealth Management			9		4			4		(2	)		(1	)
		Total EMEA		477		1,267			282		307			308
Japan
	Global Consumer			142		147			164		163			175
	Corporate and Investment Banking			93		87			91		63			48
	Global Wealth Management			26		19			3		(253	)		(8	)
		Total Japan		261		253			258		(27	)		215
Asia (excluding Japan)
	Global Consumer			247		280			332		328			311
	Corporate and Investment Banking			308		321			309		352			322
	Global Wealth Management			35		34			33		23			35
		Total Asia		590		635			674		703			668
Latin America
	Global Consumer			53		54			97		92			54
	Corporate and Investment Banking			202		185			229		197			145
	Global Wealth Management			10		12			9		12			7
		Total Latin America		265		251			335		301			206
Alternative Investments				33		278			117		340			362
Corporate / Other				191		(22	)		4		(125	)		(88	)
Income From Continuing Operations				4,964		916			5,026		5,148			5,115
Discontinued Operations				309		228			282		173			326
Net Income			$	5,273	$	1,144		$	5,308	$	5,321		$	5,441

(1)

Excludes Alternative Investments and Corporate / Other which are predominantly related to North America.

Reclassified to conform to the current period's presentation.

3

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

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005
Global Consumer:
	Cards		$	4,598		$	4,467		$	4,602		$	4,654		$	4,576
	Consumer Finance			2,688			2,677			2,631			2,765			2,750
	Retail Banking			4,381			4,514			4,661			4,733			5,011
	Other			(16	)		557			(24	)		(1	)		(219	)
		Total Global Consumer		11,651			12,215			11,870			12,151			12,118
Corporate and Investment Banking:
	Capital Markets and Banking			4,531			4,495			3,733			4,347			4,899
	Transaction Services			942			987			1,045			1,104			1,137
	Other			1			585			2			14			1
Total Corporate and Investment Banking				5,474			6,067			4,780			5,465			6,037
Global Wealth Management:
	Smith Barney			1,732			1,582			1,528			1,643			1,669
	Private Bank			573			505			482			484			504
	Total Global Wealth Management			2,305			2,087			2,010			2,127			2,173
Alternative Investments				191			545			297			670			866
Corporate / Other				311			(59	)		(219	)		(303	)		2
Total Net Revenues			$	19,932		$	20,855		$	18,738		$	20,110		$	21,196
Managed Basis Net Revenues (1)			$	21,257		$	22,145		$	19,988		$	21,324		$	22,362

(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.

Reclassified to conform to the current period's presentation.

4

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

			1Q 2004		2Q 2004			3Q 2004			4Q 2004			1Q 2005
North America (excluding Mexico)(1)
	Global Consumer		$	7,778	$	7,618		$	7,776		$	7,704		$	7,759
	Corporate and Investment Banking			2,302		2,560			1,848			2,251			2,779
	Global Wealth Management			1,915		1,765			1,718			1,843			1,872
		Total North America (excluding Mexico)		11,995		11,943			11,342			11,798			12,410
Mexico
	Global Consumer			853		842			906			1,007			960
	Corporate and Investment Banking			204		137			199			230			159
	Global Wealth Management			38		34			35			31			31
		Total Mexico		1,095		1,013			1,140			1,268			1,150
Europe, Middle East and Africa (EMEA)
	Global Consumer			1,152		1,776			1,143			1,251			1,249
	Corporate and Investment Banking			1,562		2,067			1,352			1,531			1,694
	Global Wealth Management			80		72			68			71			71
		Total EMEA		2,794		3,915			2,563			2,853			3,014
Japan
	Global Consumer			815		812			822			841			821
	Corporate and Investment Banking			227		204			226			160			180
	Global Wealth Management			83		58			33			26			22
		Total Japan		1,125		1,074			1,081			1,027			1,023
Asia (excluding Japan)
	Global Consumer			824		944			998			1,046			1,072
	Corporate and Investment Banking			857		770			823			958			915
	Global Wealth Management			131		102			102			97			119
		Total Asia		1,812		1,816			1,923			2,101			2,106
Latin America
	Global Consumer			229		223			225			302			257
	Corporate and Investment Banking			322		329			332			335			310
	Global Wealth Management			58		56			54			59			58
		Total Latin America		609		608			611			696			625
Alternative Investments				191		545			297			670			866
Corporate / Other				311		(59	)		(219	)		(303	)		2
Total Net Revenues			$	19,932	$	20,855		$	18,738		$	20,110		$	21,196

(1)

Excludes Alternative Investments and Corporate / Other which are predominantly related to North America.

Reclassified to conform to the current period's presentation.

5

SUPPLEMENTAL INFORMATION
DISCONTINUED OPERATIONS (1)(2)
(In millions of dollars)

	1Q 2004		2Q 2004			3Q 2004		4Q 2004			1Q 2005
Sale of Life Insurance & Annuities Business:
Total Revenues, Net of Interest Expense	$	1,206	$	1,107		$	1,434	$	1,425		$	1,362
Total Operating Expenses		222		220			289		281			273
Provision for Benefits and Claims		649		627			853		788			692
Income Before Taxes		335		260			292		356			397
Income Taxes		86		96			47		113			124
Net Income	$	249	$	164		$	245	$	243		$	273
Sale of Asset Management Business:
Total Revenues, Net of Interest Expense	$	350	$	340		$	342	$	351		$	337
Total Operating Expenses		244		241			276		419			251
Provision for Benefits and Claims		—		—			—		—			—
Income Before Taxes and Minority Interest		106		99			66		(68	)		86
Income Taxes		41		36			29		(3	)		32
Minority Interest, Net of Tax		5		(1	)		—		5			1
Net Income	$	60	$	64		$	37	$	(70	)	$	53
Total Discontinued Operations:
Total Revenues, Net of Interest Expense	$	1,556	$	1,447		$	1,776	$	1,776		$	1,699
Total Operating Expenses		466		461			565		700			524
Provision for Benefits and Claims		649		627			853		788			692
Income Before Taxes and Minority Interest		441		359			358		288			483
Income Taxes		127		132			76		110			156
Minority Interest, Net of Tax		5		(1	)		—		5			1
Net Income	$	309	$	228		$	282	$	173		$	326

(1)

Discontinued Operations includes the operations from the Company's sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance business, to MetLife, Inc. The transaction closed on July 1, 2005.

(2)

Discontinued Operations includes the operations from the Company's June 24, 2005 announced agreement for the sale of substantially all of Citigroup's Asset Management business to Legg Mason, Inc. The transaction is subject to certain domestic and international regulatory approvals, as well as other customary conditions to closing and is expected to close during the 2005 fourth quarter.

Reclassified to conform to the current period's presentation.

6

QuickLinks

Exhibit 99.1