Citigroup (C) 8-K Results of Operations and Financial Condition

Exhibit 99.2

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT 2Q07

				Page Number
Citigroup Consolidated
	Financial Summary			1
	Segment Income:
		Product View		2
		Regional View		3
	Segment Net Revenues:
		Product View		4
		Regional View		5
	Consolidated Statement of Income			6
	Consolidated Balance Sheet			7
Segment Detail
	Global Consumer:			8—9
		U.S.
			U.S. Cards	10—11
			U.S. Retail Distribution	12—13
			U.S. Consumer Lending	14—15
			U.S. Commercial Business	16
		International
			International Cards	17—18
			International Consumer Finance	19—20
			International Retail Banking	21—22
	Markets & Banking:			23
			Income Statement	24
			Revenue Details	25
			Securities and Banking	26
			Transaction Services	27
	Global Wealth Management:			28
			Smith Barney	29
			Private Bank	30
	Alternative Investments			31
Citigroup Supplemental Detail
	Return on Capital			32
	Average Balances and Interest Rates			33
	Consumer Loan Delinquency Amounts, Net Credit Losses and Ratios			34
	Allowance for Credit Losses:
		Total Citigroup		35
		Consumer Loans		36
		Corporate Loans		37
	Components of Provision for Loan Losses			38
	Non-Performing Assets			39

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

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

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Income from Continuing Operations		$	5,555		$	5,262		$	5,303		$	5,129		$	5,012		$	6,226		18%	$	10,817		$	11,238		4%
Discontinued Operations, After-tax			84			3			202			—			—			—		(100)%		87			—		(100)%
Net Income		$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		18%	$	10,904		$	11,238		3%
Diluted Earnings Per Share:
	Income from Continuing Operations	$	1.11		$	1.05		$	1.06		$	1.03		$	1.01		$	1.24		18%	$	2.16		$	2.25		4%
	Net Income	$	1.12		$	1.05		$	1.10		$	1.03		$	1.01		$	1.24		18%	$	2.17		$	2.25		4%
Adjusted weighted average common shares applicable to Diluted EPS (in millions)			5,007.9			4,990.0			4,978.6			4,967.7			4,967.9			4,992.9				4,999.0			4,980.4
Preferred Dividends—Diluted		$	16		$	16		$	16		$	16		$	16		$	14			$	32		$	30
Common Shares Outstanding, at period end (in millions)			4,971.2			4,943.9			4,913.7			4,912.0			4,946.4			4,974.6				4,943.9			4,974.6
Tier 1 Capital Ratio			8.60	%		8.51	%		8.64	%		8.59	%		8.26	%		7.9	%*			8.51	%		7.9	%*
Total Capital Ratio			11.80	%		11.68	%		11.88	%		11.65	%		11.48	%		11.2	%*			11.68	%		11.2	%*
Leverage Ratio			5.22	%		5.19	%		5.24	%		5.16	%		4.84	%		4.4	%*			5.19	%		4.4	%*
Total Assets, at period end (in billions)		$	1,586.2		$	1,626.6		$	1,746.2		$	1,884.3		$	2,021.0		$	2,220.9*			$	1,626.6		$	2,220.9*
Stockholders' Equity, at period end (in billions)		$	114.4		$	115.4		$	117.9		$	119.8		$	122.1		$	127.8*			$	115.4		$	127.8
Equity and Trust Securities, at period end (in billions)		$	120.6		$	122.0		$	125.9		$	129.4		$	131.5		$	137.8*			$	122.0		$	137.8*
Book Value Per Share, at period end		$	22.82		$	23.15		$	23.78		$	24.18		$	24.48		$	25.56*			$	23.15		$	25.56*
Return on Common Equity (Net Income)			20.3	%		18.6	%		18.9	%		17.2	%		17.1	%		20.1	%			19.5	%		18.6	%
Return on Risk Capital (Income from Continuing Operations)			41	%		38	%		37	%		35	%		31	%		35	%			39	%		33	%

*

Preliminary

1

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

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
	U.S. Cards		$	926		$	878		$	1,085		$	1,001		$	897		$	726		(17)%	$	1,804		$	1,623		(10)%
	U.S. Retail Distribution			515			568			481			463			388			453		(20)%		1,083			841		(22)%
	U.S. Consumer Lending			437			470			521			484			359			441		(6)%		907			800		(12)%
		U.S. Commercial Business		126			138			151			146			121			151		9%		264			272		3%
		Total U.S. Consumer(1)		2,004			2,054			2,238			2,094			1,765			1,771		(14)%		4,058			3,536		(13)%
	International Cards			291			328			287			231			388			351		7%		619			739		19%
	International Consumer Finance			168			173			50			(351	)		25			(6	)	NM		341			19		(94)%
	International Retail Banking			677			714			701			748			540			671		(6)%		1,391			1,211		(13)%
		Total International Consumer		1,136			1,215			1,038			628			953			1,016		(16)%		2,351			1,969		(16)%
	Other			(67	)		(92	)		(81	)		(111	)		(85	)		(91	)	1%		(159	)		(176	)	(11)%
		Total Global Consumer		3,073			3,177			3,195			2,611			2,633			2,696		(15)%		6,250			5,329		(15)%
Markets & Banking:
	Securities and Banking			1,618			1,412			1,344			1,389			2,173			2,145		52%		3,030			4,318		43%
	Transaction Services			323			340			385			378			447			514		51%		663			961		45%
	Other			(12	)		(29	)		(8	)		(13	)		1			173		NM		(41	)		174		NM
		Total Markets & Banking		1,929			1,723			1,721			1,754			2,621			2,832		64%		3,652			5,453		49%
Global Wealth Management:
	Smith Barney			168			238			294			305			324			321		35%		406			645		59%
	Private Bank			119			109			105			106			124			193		77%		228			317		39%
		Total Global Wealth Management		287			347			399			411			448			514		48%		634			962		52%
Alternative Investments				353			257			117			549			222			456		77%		610			678		11%
Corporate/Other(2)				(87	)		(242	)		(129	)		(196	)		(912	)		(272	)	(12)%		(329	)		(1,184	)	NM
Income From Continuing Operations				5,555			5,262			5,303			5,129			5,012			6,226		18%		10,817			11,238		4%
Discontinued Operations(3)				84			3			202			—			—			—				87			—
Net Income			$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		18%	$	10,904		$	11,238		3%

(1)

U.S. disclosure includes Canada and Puerto Rico.

(2)

The 2007 first quarter includes a $1,377 million ($871 million after-tax) Restructuring charge related to the Company's Structural Expense Initiatives project announced on April 11, 2007.

(3)

Discontinued Operations relates to residual items from the Company's sale of Citigroup's Travelers Life & Annuity which closed during the 2005 third quarter and the Company's sale of substantially all of its Asset Management business which closed during the 2005 fourth quarter.

NM Not meaningful

Reclassified to conform to the current period's presentation.

2

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

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S.(1)
	Global Consumer		$	1,937		$	1,962		$	2,157		$	1,983		$	1,680		$	1,680		(14)%	$	3,899		$	3,360		(14)%
	Markets & Banking			515			747			540			407			999			984		32%		1,262			1,983		57%
	Global Wealth Management			228			290			342			350			361			335		16%		518			696		34%
		Total U.S.		2,680			2,999			3,039			2,740			3,040			2,999		—		5,679			6,039		6%
Mexico
	Global Consumer			358			375			395			477			372			360		(4)%		733			732		—
	Markets & Banking			78			88			95			85			114			95		8%		166			209		26%
	Global Wealth Management			8			10			9			9			12			15		50%		18			27		50%
		Total Mexico		444			473			499			571			498			470		(1)%		917			968		6%
Europe, Middle East and Africa (EMEA)
	Global Consumer			185			215			213			112			83			148		(31)%		400			231		(42)%
	Markets & Banking			635			342			489			545			694			803		NM		977			1,497		53%
	Global Wealth Management			3			5			7			8			7			46		NM		8			53		NM
		Total EMEA		823			562			709			665			784			997		77%		1,385			1,781		29%
Japan
	Global Consumer			188			178			79			(326	)		45			32		(82)%		366			77		(79)%
	Markets & Banking			85			72			38			77			35			124		72%		157			159		1%
	Global Wealth Management			—			—			—			—			—			30		—		—			30		—
		Total Japan		273			250			117			(249	)		80			186		(26)%		523			266		(49)%
Asia (excluding Japan)
	Global Consumer			347			359			328			332			383			426		19%		706			809		15%
	Markets & Banking			414			336			391			510			561			567		69%		750			1,128		50%
	Global Wealth Management			45			40			38			40			65			74		85%		85			139		64%
		Total Asia		806			735			757			882			1,009			1,067		45%		1,541			2,076		35%
Latin America
	Global Consumer			58			88			23			33			70			50		(43)%		146			120		(18)%
	Markets & Banking			202			138			168			130			218			259		88%		340			477		40%
	Global Wealth Management			3			2			3			4			3			14		NM		5			17		NM
		Total Latin America		263			228			194			167			291			323		42%		491			614		25%
Alternative Investments				353			257			117			549			222			456		77%		610			678		11%
Corporate/Other				(87	)		(242	)		(129	)		(196	)		(912	)		(272	)	(12%)		(329	)		(1,184	)	NM
Income From Continuing Operations				5,555			5,262			5,303			5,129			5,012			6,226		18%		10,817			11,238		4%
	Discontinued Operations			84			3			202			—			—			—				87			—
Net Income			$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		18%	$	10,904		$	11,238		3%
Total International			$	2,609		$	2,248		$	2,276		$	2,036		$	2,662		$	3,043		35%	$	4,857		$	5,705		17%

(1)

Excludes Alternative Investments and Corporate / Other which are predominantly related to the U.S. The U.S. regional disclosure includes Canada and Puerto Rico. Global Consumer for the U.S. includes Other Consumer.

NM Not meaningful

Reclassified to conform to the current period's presentation.

3

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

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
	U.S. Cards		$	3,234		$	3,251		$	3,452		$	3,571		$	3,294		$	3,181		(2)%	$	6,485		$	6,475		—
	U.S. Retail Distribution			2,296			2,499			2,382			2,407			2,426			2,545		2%		4,795			4,971		4%
	U.S. Consumer Lending			1,260			1,307			1,481			1,471			1,551			1,606		23%		2,567			3,157		23%
	U.S. Commercial Business			470			516			489			508			443			446		(14)%		986			889		(10)%
		Total U.S. Consumer(1)		7,260			7,573			7,804			7,957			7,714			7,778		3%		14,833			15,492		4%
	International Cards			1,280			1,510			1,519			1,650			1,739			2,013		33%		2,790			3,752		34%
	International Consumer Finance			962			1,009			998			349			890			843		(16)%		1,971			1,733		(12)%
	International Retail Banking			2,467			2,555			2,550			2,946			2,759			3,030		19%		5,022			5,789		15%
		Total International Consumer		4,709			5,074			5,067			4,945			5,388			5,886		16%		9,783			11,274		15%
	Other			(14	)		(19	)		(37	)		(20	)		4			(2	)	89%		(33	)		2		NM
		Total Global Consumer		11,955			12,628			12,834			12,882			13,106			13,662		8%		24,583			26,768		9%
Markets & Banking:
	Securities and Banking			5,896			5,269			4,567			5,486			7,313			7,121		35%		11,165			14,434		29%
	Transaction Services			1,382			1,495			1,500			1,594			1,645			1,840		23%		2,877			3,485		21%
	Other			1			(3	)		—			—			(1	)		—		100%		(2	)		(1	)	50%
																					��
		Total Markets & Banking		7,279			6,761			6,067			7,080			8,957			8,961		33%		14,040			17,918		28%
Global Wealth Management:
	Smith Barney			1,987			1,990			1,994			2,189			2,246			2,611		31%		3,977			4,857		22%
	Private Bank			496			502			492			527			572			586		17%		998			1,158		16%
		Total Global Wealth Management		2,483			2,492			2,486			2,716			2,818			3,197		28%		4,975			6,015		21%
Alternative Investments				675			584			334			1,308			562			1,032		77%		1,259			1,594		27%
Corporate/Other				(209	)		(283	)		(299	)		(158	)		16			(222	)	22%		(492	)		(206	)	58%
Total Net Revenues			$	22,183		$	22,182		$	21,422		$	23,828		$	25,459		$	26,630		20%	$	44,365		$	52,089		17%

(1)

U.S. disclosure includes Canada and Puerto Rico.

NM Not meaningful

Reclassified to conform to the current period's presentation.

4

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

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007		2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S.(1)
	Global Consumer		$	7,246		$	7,554		$	7,767		$	7,937		$	7,718	$	7,776		3%	$	14,800		$	15,494		5%
	Markets & Banking			2,923			2,803			2,007			2,422			3,714		3,041		8%		5,726			6,755		18%
	Global Wealth Management			2,154			2,149			2,153			2,337			2,385		2,439		13%		4,303			4,824		12%
		Total U.S.		12,323			12,506			11,927			12,696			13,817		13,256		6%		24,829			27,073		9%
Mexico
	Global Consumer			1,149			1,192			1,238			1,612			1,377		1,354		14%		2,341			2,731		17%
	Markets & Banking			186			199			197			199			227		183		(8)%		385			410		6%
	Global Wealth Management			31			33			32			33			36		41		24%		64			77		20%
		Total Mexico		1,366			1,424			1,467			1,844			1,640		1,578		11%		2,790			3,218		15%
Europe, Middle East and Africa (EMEA)
	Global Consumer			1,270			1,360			1,353			1,404			1,446		1,618		19%		2,630			3,064		17%
	Markets & Banking			2,296			2,043			2,166			2,252			2,827		2,993		47%		4,339			5,820		34%
	Global Wealth Management			75			83			83			90			108		137		65%		158			245		55%
		Total EMEA		3,641			3,486			3,602			3,746			4,381		4,748		36%		7,127			9,129		28%
Japan
	Global Consumer			775			807			782			91			615		680		(16)%		1,582			1,295		(18)%
	Markets & Banking			296			269			177			310			212		453		68%		565			665		18%
	Global Wealth Management			—			—			—			—			—		286		—		—			286		—
		Total Japan		1,071			1,076			959			401			827		1,419		32%		2,147			2,246		5%
Asia (excluding Japan)
	Global Consumer			1,189			1,244			1,209			1,291			1,359		1,464		18%		2,433			2,823		16%
	Markets & Banking			1,132			1,062			1,080			1,440			1,404		1,635		54%		2,194			3,039		39%
	Global Wealth Management			180			181			171			206			234		242		34%		361			476		32%
		Total Asia		2,501			2,487			2,460			2,937			2,997		3,341		34%		4,988			6,338		27%
Latin America
	Global Consumer			326			471			485			547			591		770		63%		797			1,361		71%
	Markets & Banking			446			385			440			457			573		656		70%		831			1,229		48%
	Global Wealth Management			43			46			47			50			55		52		13%		89			107		20%
		Total Latin America		815			902			972			1,054			1,219		1,478		64%		1,717			2,697		57%
Alternative Investments				675			584			334			1,308			562		1,032		77%		1,259			1,594		27%
Corporate / Other				(209	)		(283	)		(299	)		(158	)		16		(222	)	22%		(492	)		(206	)	58%
Total Net Revenues			$	22,183		$	22,182		$	21,422		$	23,828		$	25,459	$	26,630		20%	$	44,365		$	52,089		17%
Total International			$	9,394		$	9,375		$	9,460		$	9,982		$	11,064	$	12,564		34%	$	18,769		$	23,628		26%

(1)

Excludes Alternative Investments and Corporate / Other which are predominantly related to the U.S. The U.S. regional disclosure includes Canada and Puerto Rico. Global Consumer for the U.S. includes Other Consumer.

Reclassified to conform to the current period's presentation.

5

CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)

			1Q 2006			2Q 2006			3Q 2006		4Q 2006		1Q 2007		2Q 2007		2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues
	Interest revenue		$	21,873		$	23,572		$	24,729	$	26,257	$	28,132	$	30,598	30%	$	45,445		$	58,730	29%
	Interest expense			12,107			13,717			14,901		16,218		17,562		19,172	40%		25,824			36,734	42%
		Net interest revenue		9,766			9,855			9,828		10,039		10,570		11,426	16%		19,621			21,996	12%
	Insurance premiums			770			800			819		813		838		846	6%		1,570			1,684	7%
	Commissions and fees			5,188			5,331			4,007		5,009		5,773		6,474	21%		10,519			12,247	16%
	Principal transactions			2,117			1,703			1,927		1,961		2,997		2,787	64%		3,820			5,784	51%
	Administrative and other fiduciary fees			1,705			1,707			1,670		1,852		1,949		2,241	31%		3,412			4,190	23%
	Realized gains (losses) from sales of investments			379			302			304		806		473		119	(61)%		681			592	(13)%
	Other revenue			2,258			2,484			2,867		3,348		2,859		2,737	10%		4,742			5,596	18%
		Total non-interest revenues		12,417			12,327			11,594		13,789		14,889		15,204	23%		24,744			30,093	22%
		Total revenues, net of interest expense		22,183			22,182			21,422		23,828		25,459		26,630	20%		44,365			52,089	17%
Provisions for Credit Losses and for Benefits and Claims
	Policyholder benefits and claims			227			231			274		235		261		197	(15)%		458			458	—
	Provision for loan losses			1,396			1,436			1,793		2,113		2,706		2,520	75%		2,832			5,226	85%
	Provision for unfunded lending commitments			50			150			50		—		—		—	(100)%		200			—	(100%)
		Total provisions for credit losses and for benefits and claims		1,673			1,817			2,117		2,348		2,967		2,717	50%		3,490			5,684	63%
Operating Expenses
	Compensation and benefits			8,263			7,374			6,718		7,922		8,699		8,922	21%		15,637			17,621	13%
	Net occupancy expense			1,382			1,411			1,435		1,613		1,529		1,603	14%		2,793			3,132	12%
	Technology / communication expense			886			934			948		994		979		1,143	22%		1,820			2,122	17%
	Advertising and marketing expense			603			652			574		734		617		767	18%		1,255			1,384	10%
	Restructuring-related items			—			—			—		—		1,377		63	—		—			1,440	—
	Other operating			2,224			2,398			2,261		2,695		2,370		2,357	(2%)		4,622			4,727	2%
		Total operating expenses		13,358			12,769			11,936		13,958		15,571		14,855	16%		26,127			30,426	16%
Income from Continuing Operations before Income Taxes and Minority Interest				7,152			7,596			7,369		7,522		6,921		9,058	19%		14,748			15,979	8%
Provision for income taxes				1,537			2,303			2,020		2,241		1,862		2,709	18%		3,840			4,571	19%
Minority interest, net of income taxes				60			31			46		152		47		123	NM		91			170	87%
Income from Continuing Operations				5,555			5,262			5,303		5,129		5,012		6,226	18%		10,817			11,238	4%
Discontinued Operations(1)
	Income from Discontinued Operations			1			—			26		—		—		—			1			—
	Gain on Sale			21			—			198		—		—		—			21			—
	Provision for income taxes and minority interest, net of taxes			(62	)		(3	)		22		—		—		—			(65	)		—
Income from Discontinued Operations, net				84			3			202		—		—		—			87			—
Net Income			$	5,639		$	5,265		$	5,505	$	5,129	$	5,012	$	6,226	18%	$	10,904		$	11,238	3%

(1)

Discontinued Operations relates to residual items from the Company's sale of Citigroup's Travelers Life & Annuity which closed during the 2005 third quarter and the Company's sale of substantially all of its Asset Management business which closed during the 2005 fourth quarter.

Reclassified to conform to the current period's presentation.

6

CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)

		March 31, 2006			June 30, 2006			September 30, 2006			December 31, 2006			March 31, 2007			June 30, 2007(1)			June 30, 2007 vs. December 31, 2006 Inc (Decr)
Assets
Cash and due from banks (including segregated cash and other deposits)		$	21,411		$	24,311		$	22,543		$	26,514		$	24,421		$	30,635		16%
Deposits with banks			33,220			35,868			33,939			42,522			44,906			70,897		67%
Federal funds sold and securities borrowed or purchased under agreements to resell			239,552			234,390			262,627			282,817			303,925			348,129		23%
Brokerage receivables			42,569			46,162			40,970			44,445			51,976			61,144		38%
Trading account assets			328,135			327,890			351,149			393,925			460,065			538,316		37%
Investments			193,970			194,953			251,748			273,591			286,567			257,880		(6)%
Loans, net of unearned income
	Consumer		462,068			480,772			488,673			512,921			519,105			551,223		7%
	Corporate		143,239			156,313			166,709			166,271			174,239			191,701		15%
Loans, net of unearned income			605,307			637,085			655,382			679,192			693,344			742,924		9%
Allowance for loan losses			(9,505	)		(9,144	)		(8,979	)		(8,940	)		(9,510	)		(10,381	)	(16)%
	Total loans, net		595,802			627,941			646,403			670,252			683,834			732,543		9%
Goodwill			32,933			32,910			33,169			33,415			34,380			39,231		17%
Intangible assets			15,092			15,850			15,725			15,901			19,330			22,975		44%
Other assets			83,517			86,276			87,975			100,936			111,562			119,116		18%
Total assets		$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,966		$	2,220,866		18%
Liabilities
	Non-interest-bearing deposits in U.S. offices	$	37,885		$	38,018		$	36,358		$	38,615		$	39,296		$	41,740		8%
	Interest-bearing deposits in U.S. offices		176,032			177,385			183,467			195,002			198,840			196,481		1%
	Non-interest-bearing deposits in offices outside the U.S.		34,323			32,981			32,721			35,149			36,328			39,132		11%
	Interest-bearing deposits in offices outside the U.S.		379,118			397,421			416,732			443,275			464,057			494,408		12%
Total deposits			627,358			645,805			669,278			712,041			738,521			771,761		8%
Federal funds purchased and securities loaned or sold under agreements to repurchase			279,540			264,494			320,095			349,235			393,670			394,143		13%
Brokerage payables			70,214			74,970			97,229			85,119			88,722			96,528		13%
Trading account liabilities			144,888			142,983			138,876			145,887			173,902			217,992		49%
Short-term borrowings			58,130			72,581			70,501			100,833			111,179			167,139		66%
Long-term debt			227,165			239,557			260,089			288,494			310,768			340,077		18%
Other liabilities(2)			64,488			70,733			72,315			82,926			82,121			105,472		27%
Total liabilities			1,471,783			1,511,123			1,628,383			1,764,535			1,898,883			2,093,112		19%
Stockholders' equity
Preferred Stock			1,000			1,000			1,000			1,000			1,000		$	600		(40)%
Common Stock			55			55			55			55			55			55		—
Additional paid-in capital			17,119			17,426			17,825			18,253			17,341			17,725		(3)%
Retained earnings			120,703			123,497			126,544			129,267			131,395			134,932		4%
Treasury stock			(21,753	)		(23,199	)		(24,737	)		(25,092	)		(23,833	)		(22,588	)	10%
Accumulated other comprehensive income (loss)			(2,706	)		(3,351	)		(2,822	)		(3,700	)		(3,875	)		(2,970	)	20%
Total stockholders' equity			114,418			115,428			117,865			119,783			122,083			127,754		7%
Total liabilities and stockholders' equity		$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,966		$	2,220,866		18%

(1)

Preliminary.

(2)

Includes allowance for credit losses for letters of credit and unfunded lending commitments of $900 million, $1,050 million, $1,100 million, and $1,100 million for the first, second, third, and fourth quarters of 2006, respectively, and $1,100 million for each of the first and second quarters of 2007.

Reclassified to conform to the current period's presentation.

7

GLOBAL CONSUMER
Page 1
(In millions of dollars)

		1Q 2006		2Q 2006		3Q 2006		4Q 2006		1Q 2007		2Q 2007		2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006		Six Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
Net Interest Revenue		$	7,224	$	7,481	$	7,523	$	7,073	$	7,644	$	8,189	9%	$	14,705	$	15,833	8%
Non-Interest Revenue			4,731		5,147		5,311		5,809		5,462		5,473	6%		9,878		10,935	11%
Total Revenues, Net of Interest Expense			11,955		12,628		12,834		12,882		13,106		13,662	8%		24,583		26,768	9%
Total Operating Expenses			6,357		6,379		6,316		6,881		6,760		7,063	11%		12,736		13,823	9%
Provisions for Loan Losses and for Benefits and Claims			1,668		1,649		1,994		2,268		2,686		2,769	68%		3,317		5,455	64%
Income Before Taxes and Minority Interest			3,930		4,600		4,524		3,733		3,660		3,830	(17)%		8,530		7,490	(12)%
Income Taxes			847		1,400		1,312		1,107		1,017		1,104	(21)%		2,247		2,121	(6)%
Minority Interest, Net of Tax			10		23		17		15		10		30	30%		33		40	21%
Net Income		$	3,073	$	3,177	$	3,195	$	2,611	$	2,633	$	2,696	(15)%	$	6,250	$	5,329	(15)%
	Key Indicators (in billions of dollars):
	Average Managed Loans	$	509.0	$	526.2	$	537.9	$	552.7	$	566.0	$	588.2	12%
	Average Deposits	$	243.6	$	247.4	$	253.9	$	263.5	$	273.4	$	289.3	17%
	Total Branches		7,440		7,670		7,933		8,110		8,140		8,202	7%

Reclassified to conform to the current period's presentation.

8

GLOBAL CONSUMER
Page 2
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S.:
Net Interest Revenue		$	4,138		$	4,189		$	4,141		$	4,178		$	4,185		$	4,285		2%	$	8,327		$	8,470		2%
Non-Interest Revenue			3,122			3,384			3,663			3,779			3,529			3,493		3%		6,506			7,022		8%
Total Revenues, Net of Interest Expense			7,260			7,573			7,804			7,957			7,714			7,778		3%		14,833			15,492		4%
Total Operating Expenses			3,569			3,551			3,426			3,603			3,629			3,644		3%		7,120			7,273		2%
Provisions for Loan Losses and for Benefits and Claims			901			827			962			1,110			1,470			1,504		82%		1,728			2,974		72%
Income Before Taxes and Minority Interest			2,790			3,195			3,416			3,244			2,615			2,630		(18)%		5,985			5,245		(12)%
Income Taxes			777			1,121			1,162			1,137			842			845		(25)%		1,898			1,687		(11)%
Minority Interest, Net of Tax			9			20			16			13			8			14		(30)%		29			22		(24)%
Net Income		$	2,004		$	2,054		$	2,238		$	2,094		$	1,765		$	1,771		(14)%	$	4,058		$	3,536		(13)%
	Key Indicators (in billions of dollars):
	Average Managed Loans	$	400.8		$	413.7		$	421.8		$	430.5		$	440.0		$	447.6		8%
	Average Deposits	$	99.1		$	100.8		$	105.5		$	113.1		$	119.2		$	120.9		20%
	Total Branches		3,205			3,253			3,353			3,441			3,488			3,433		6%
International:
Net Interest Revenue		$	3,133		$	3,343		$	3,445		$	2,945		$	3,489		$	3,938		18%	$	6,476		$	7,427		15%
Non-Interest Revenue			1,576			1,731			1,622			2,000			1,899			1,948		13%		3,307			3,847		16%
Total Revenues, Net of Interest Expense			4,709			5,074			5,067			4,945			5,388			5,886		16%		9,783			11,274		15%
Total Operating Expenses			2,621			2,701			2,769			3,110			2,976			3,264		21%		5,322			6,240		17%
Provisions for Loan Losses and for Benefits and Claims			767			822			1,032			1,158			1,216			1,265		54%		1,589			2,481		56%
Income Before Taxes and Minority Interest			1,321			1,551			1,266			677			1,196			1,357		(13)%		2,872			2,553		(11)%
Income Taxes			184			333			227			47			241			325		(2)%		517			566		9%
Minority Interest, Net of Tax			1			3			1			2			2			16		NM		4			18		NM
Net Income		$	1,136		$	1,215		$	1,038		$	628		$	953		$	1,016		(16)%	$	2,351		$	1,969		(16)%
	Key Indicators (in billions of dollars):
	Average Loans	$	108.2		$	112.5		$	116.1		$	122.2		$	126.0		$	140.6		25%
	Average Deposits	$	144.5		$	146.6		$	148.4		$	150.4		$	154.2		$	168.4		15%
	Total Branches		4,235			4,417			4,580			4,669			4,652			4,769		8%
Other Consumer:
Net Interest Revenue		$	(47	)	$	(51	)	$	(63	)	$	(50	)	$	(30	)	$	(34	)	33%	$	(98	)	$	(64	)	35%
Non-Interest Revenue			33			32			26			30			34			32		—		65			66		2%
Total Revenues, Net of Interest Expense			(14	)		(19	)		(37	)		(20	)		4			(2	)	89%		(33	)		2		NM
Total Operating Expenses			167			127			121			168			155			155		22%		294			310		5%
Income Before Taxes			(181	)		(146	)		(158	)		(188	)		(151	)		(157	)	(8)%		(327	)		(308	)	6%
Income Taxes			(114	)		(54	)		(77	)		(77	)		(66	)		(66	)	(22)%		(168	)		(132	)	21%
Net Income		$	(67	)	$	(92	)	$	(81	)	$	(111	)	$	(85	)	$	(91	)	1%	$	(159	)	$	(176	)	(11)%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

9

GLOBAL CONSUMER
U.S.
CARDS—Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues declined as growth in non-interest revenues was offset by a decline in net interest revenues. Non-interest revenues increased 3%, driven by improved managed yields and higher volumes of securitized loans, offset by lower securitization gains. Net interest revenues declined 11% as improved net interest margins were offset by a decrease in on balance sheet loans. Expenses decreased 7%.



•

Average managed loans were flat as a 6% increase in purchase sales, driven by growth in travel, business, and partner portfolios, was offset by lower promotional balances. Lower promotional balances led to a 36 basis point improvement in the average managed yield.



•

Credit costs reflected a $240 million pre-tax charge to increase loan loss reserves for a change in estimate of losses inherent in the portfolio. The managed net credit loss ratio increased 44 basis points to 4.55%, primarily reflecting an increase in bankruptcy filings over unusually low filing levels experienced in the prior-year period. The credit environment remained stable.



•

Net income declined 17%, reflecting increased credit costs.

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue		$	1,193		$	1,167		$	1,140		$	1,126		$	1,031		$	1,037		(11)%	$	2,360		$	2,068		(12)%
Non-Interest Revenue			2,041			2,084			2,312			2,445			2,263			2,144		3%		4,125			4,407		7%
Total Revenues, Net of Interest Expense(1)			3,234			3,251			3,452			3,571			3,294			3,181		(2)%		6,485			6,475		—
Total Operating Expenses			1,532			1,554			1,447			1,535			1,485			1,452		(7)%		3,086			2,937		(5)%
	Net Credit Losses		446			447			456			439			439			408		(9)%		893			847		(5)%
	Credit Reserve Build / (Release)		(72	)		(160	)		(122	)		(37	)		(44	)		224		NM		(232	)		180		NM
	Provision for Benefits & Claims		21			25			26			18			21			12		(52)%		46			33		(28)%
Provision for Loan Losses and for Benefits and Claims			395			312			360			420			416			644		NM		707			1,060		50%
Income Before Taxes and Minority Interest			1,307			1,385			1,645			1,616			1,393			1,085		(22)%		2,692			2,478		(8)%
Income Taxes and Minority Interest			381			507			560			615			496			359		(29)%		888			855		(4)%
Net Income		$	926		$	878		$	1,085		$	1,001		$	897		$	726		(17)%	$	1,804		$	1,623		(10)%
Average Assets (in billions of dollars)		$	63		$	63		$	64		$	62		$	63		$	61		(3)%	$	63		$	62		(2)%
Return on Assets			5.96	%		5.59	%		6.73	%		6.41	%		5.77	%		4.77	%			5.77	%		5.28	%
Net Credit Loss Ratio			4.27	%		4.11	%		4.22	%	��	4.30	%		4.58	%		4.39	%
Average Risk Capital		$	5,563		$	5,591		$	5,628		$	5,544		$	5,452		$	5,265		(6)%	$	5,577		$	5,358		(4)%
Return on Risk Capital			68	%		63	%		76	%		72	%		67	%		55	%			65	%		61	%
Return on Invested Capital			28	%		26	%		32	%		30	%		28	%		23	%			27	%		25	%
KEY INDICATORS—Managed Basis(2) (in billions of dollars)
Return on Managed Assets			2.59	%		2.42	%		2.91	%		2.71	%		2.37	%		1.99	%
Average Managed Loans:
	Securitized	$	94.7		$	94.5		$	97.3		$	99.1		$	97.3		$	97.5		3%
	Held for Sale		0.3			—			0.5			0.2			3.0			3.3		—
	On Balance Sheet		42.3			43.6			42.8			40.5			38.9			37.3		(14)%
	Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		$	138.1		—
	Bankcards	$	110.4		$	110.3		$	110.6		$	109.2		$	108.4		$	107.4		(3)%
	Private Label		26.9			27.8			30.0			30.6			30.8			30.7		10%
	Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		$	138.1		—
End of Period Managed Loans:
	Bankcards	$	109.7		$	111.3		$	110.3		$	111.6		$	107.3		$	108.9		(2)%
	Private Label		26.2			29.4			30.5			32.4			30.2			31.2		6%
	Total	$	135.9		$	140.7		$	140.8		$	144.0		$	137.5		$	140.1		—

(1)

The 2006 first quarter, 2006 second quarter, 2006 third quarter, 2006 fourth quarter, 2007 first quarter and 2007 second quarter include releases of $90 million, $125 million, $109 million, $74 million, $98 million and $144 million, respectively, from the allowance for credit losses related to loan receivables that were either securitized or transferred to loans held-for-sale during the quarter.

(2)

Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity. Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company's owned loans.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

10

GLOBAL CONSUMER
U.S.
CARDS—Page 2
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)
SUPPLEMENTAL DISCLOSURE—Managed Basis(1):
	EOP Open Accounts (in millions)		131.1			144.4			151.1			153.2			150.0			147.5		2%
	Purchase Sales (in billions of dollars)(2)	$	68.4		$	77.9		$	77.0		$	81.0		$	72.4		$	82.2		6%
Managed Average Yield(3)
	Bankcards		12.85	%		12.52	%		12.61	%		12.82	%		13.00	%		12.93	%
	Private Label		19.55	%		19.02	%		19.14	%		18.63	%		18.51	%		18.62	%
	Total		14.16	%		13.83	%		14.00	%		14.09	%		14.22	%		14.19	%
Managed Net Interest Revenue (in millions of dollars)(4)
	Bankcards	$	2,471		$	2,292		$	2,332		$	2,364		$	2,248		$	2,272		(1)%
	Private Label		1,076			1,112			1,312			1,296			1,223			1,286		16%
	Total	$	3,547		$	3,404		$	3,644		$	3,660		$	3,471		$	3,558		5%
Managed Net Interest Revenue as a % of Average Managed Loans
	Bankcards		9.09	%		8.33	%		8.37	%		8.59	%		8.40	%		8.49	%
	Private Label		16.22	%		16.04	%		17.35	%		16.80	%		16.10	%		16.80	%
	Total		10.48	%		9.89	%		10.28	%		10.39	%		10.11	%		10.33	%
Managed Net Credit Margin (in millions of dollars)(5)
	Bankcards	$	2,146		$	1,942		$	1,904		$	1,994		$	1,878		$	1,846		(5)%
	Private Label		617			669			792			855			716			736		10%
	Total	$	2,763		$	2,611		$	2,696		$	2,849		$	2,594		$	2,582		(1)%
Managed Net Credit Margin as a % of Average Managed Loans
	Bankcards		7.88	%		7.06	%		6.83	%		7.24	%		7.03	%		6.89	%
	Private Label		9.30	%		9.65	%		10.47	%		11.09	%		9.43	%		9.62	%
	Total		8.16	%		7.58	%		7.61	%		8.09	%		7.56	%		7.50	%
Managed Net Credit Losses (in millions of dollars)
	Bankcards	$	948		$	1,040		$	1,124		$	1,116		$	1,143		$	1,138		9%
	Private Label		373			376			384			417			446			427		14%
	Total	$	1,321		$	1,416		$	1,508		$	1,533		$	1,589		$	1,565		11%
Coincident Managed Net Credit Loss Ratio:
	Bankcards		3.49	%		3.78	%		4.03	%		4.05	%		4.27	%		4.25	%
	Private Label		5.62	%		5.42	%		5.08	%		5.41	%		5.87	%		5.58	%
	Total		3.90	%		4.11	%		4.26	%		4.35	%		4.63	%		4.55	%
12 Month Lagged Managed Net Credit Loss Ratio			3.83	%		4.20	%		4.45	%		4.46	%		4.70	%		4.55	%
Managed Loans 90+Days Past Due
	Bankcards	$	1,536		$	1,530		$	1,580		$	1,619		$	1,520		$	1,449		(5)%
	Private Label		825			705			675			715			642			605		(14)%
	Total	$	2,361		$	2,235		$	2,255		$	2,334		$	2,162		$	2,054		(8)%
% of EOP Managed Loans
	Bankcards		1.40	%		1.37	%		1.43	%		1.45	%		1.42	%		1.33	%
	Private Label		3.15	%		2.40	%		2.21	%		2.21	%		2.13	%		1.94	%
	Total		1.74	%		1.58	%		1.60	%		1.62	%		1.57	%		1.47	%

(1)

Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity. Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company's owned loans.

(2)

Purchase Sales represents customers' purchased sales plus cash advances.

(3)

Gross interest revenue earned divided by average managed loans.

(4)

Includes certain fees that are recorded as interest revenue.

(5)

Total Revenues, net of Interest Expense, less Net Credit Losses.

Reclassified to conform to the current period's presentation.

11

GLOBAL CONSUMER
U.S.
RETAIL DISTRIBUTION—Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues grew 2%, driven by higher average loans and deposits, up 16% and 20%, respectively, partially offset by the absence of a $132 million pre-tax gain on the sale of branches recorded in the prior-year period. Excluding the gain on sale, revenues grew 8%. Deposits in Citibank Direct Bank reached $13.8 billion. Volume growth was partially offset by lower net interest margins, reflecting a shift in customer deposits to higher yielding Direct Bank and time deposit balances.



•

Expenses increased 12% due to investment in new branches and higher customer activity. During the quarter, 15 new consumer finance branches and 9 new Citibank branches were opened. Total branches increased by 180 versus the prior year.



•

Credit costs were up 22%, driven by portfolio growth and an unusually low level of credit losses in the prior-year period. The net credit loss ratio increased 21 basis points to 2.86%. The credit environment remained stable.



•

Net income declined 20%, reflecting higher expenses and credit costs, and the absence of a gain on sale of branches in the prior-year period. Excluding the gain on sale, net income declined 8%.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue			$	1,451		$	1,497		$	1,521		$	1,511		$	1,529		$	1,602		7%	$	2,948		$	3,131		6%
Non-Interest Revenue				845			1,002			861			896			897			943		(6)%		1,847			1,840		—
	Total Revenues, Net of Interest Expense			2,296			2,499			2,382			2,407			2,426			2,545		2%		4,795			4,971		4%
Total Operating Expenses				1,221			1,200			1,201			1,256			1,323			1,340		12%		2,421			2,663		10%
	Net Credit Losses			279			288			282			337			335			360		25%		567			695		23%
	Credit Reserve Build / (Release)			(55	)		(31	)		(29	)		(59	)		(1	)		—		100%		(86	)		(1	)	99%
	Provision for Benefits & Claims			163			168			193			162			188			157		(7)%		331			345		4%
Provision for Loan Losses and for Benefits and Claims				387			425			446			440			522			517		22%		812			1,039		28%
Income Before Taxes				688			874			735			711			581			688		(21)%		1,562			1,269		(19)%
Income Taxes				173			306			254			248			193			235		(23)%		479			428		(11)%
Net Income			$	515		$	568		$	481		$	463		$	388		$	453		(20)%	$	1,083		$	841		(22)%
Average Assets (in billions of dollars)			$	66		$	69		$	70		$	72		$	74		$	77		12%	$	68		$	76		12%
Return on Assets				3.16	%		3.30	%		2.73	%		2.55	%		2.13	%		2.36	%			3.21	%		2.23	%
Average Risk Capital			$	3,459		$	3,520		$	3,591		$	3,638		$	3,414		$	3,705		5%	$	3,490		$	3,560		2%
Return on Risk Capital				60	%		65	%		53	%		50	%		46	%		49	%			63	%		48	%
Return on Invested Capital				23	%		24	%		21	%		20	%		18	%		19	%			23	%		19	%
Revenues by Business:
	Citibank Branches		$	737		$	904		$	765		$	743		$	781		$	877		(3)%	$	1,641		$	1,658		1%
	CitiFinancial Branches			1,008			1,037			1,052			1,098			1,064			1,105		7%		2,045			2,169		6%
	Primerica Financial Services			551			558			565			566			581			563		1%		1,109			1,144		3%
		Total Revenues, Net of Interest Expense	$	2,296		$	2,499		$	2,382		$	2,407		$	2,426		$	2,545		2%	$	4,795		$	4,971		4%
Net Income by Business:
	Citibank Branches		$	100		$	165		$	79		$	36		$	42		$	90		(45)%	$	265		$	132		(50)%
	CitiFinancial Branches			265			264			270			278			215			226		(14)%		529			441		(17)%
	Primerica Financial Services			150			139			132			149			131			137		(1)%		289			268		(7)%
		Total Net Income	$	515		$	568		$	481		$	463		$	388		$	453		(20)%	$	1,083		$	841		(22)%

Reclassified to conform to the current period's presentation.

12

GLOBAL CONSUMER
U.S.
RETAIL DISTRIBUTION—Page 2

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)
KEY INDICATORS:
Average Loans (in billions of dollars)
	Citibank Branches		$	9.4		$	9.8		$	10.5		$	10.9		$	11.3		$	12.9		32%
	CitiFinancial Branches			33.1			33.8			34.7			35.5			36.3			37.6		11%
		Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		$	50.5		16%
Average Loans by Product (in billions of dollars)
	Real estate secured loans		$	22.3		$	23.0		$	23.7		$	24.3		$	25.0		$	27.3		19%
	Personal loans			15.2			15.5			16.2			16.7			17.1			17.8		15%
	Sales finance and other			5.0			5.1			5.3			5.4			5.5			5.4		6%
		Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		$	50.5		16%
Net Interest Revenue (in millions of dollars)
	Citibank Branches		$	501		$	505		$	508		$	479		$	517		$	564		12%
	CitiFinancial Branches			891			933			950			972			960			990		6%
	Primerica Financial Services			59			59			63			60			52			48		(19)%
		Total	$	1,451		$	1,497		$	1,521		$	1,511		$	1,529		$	1,602		7%
Net Credit Loss Ratio				2.66	%		2.65	%		2.48	%		2.88	%		2.85	%		2.86	%
Loans 90+ Days Past Due (in millions of dollars)			$	740		$	717		$	780		$	834		$	847		$	830		16%
% of EOP Loans				1.73	%		1.62	%		1.69	%		1.73	%		1.75	%		1.60	%
Number of Branches:
	Citibank			906			892			931			972			993			1,001		12%
	CitiFinancial			2,299			2,361			2,422			2,469			2,495			2,432		3%
		Total		3,205			3,253			3,353			3,441			3,488			3,433		6%
Total EOP Accounts (in millions)
	Citibank Branches(1)			10.7			10.9			11.1			11.4			12.2			10.8		(1)%
	CitiFinancial Branches			5.3			5.4			5.5			5.6			5.5			5.6		4%
	Primerica Financial Services			4.9			4.9			5.0			4.8			5.0			5.0		2%
		Total(1)		20.9			21.2			21.6			21.8			22.7			21.4		1%
Citibank Branches—Average Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	64.1		$	64.1		$	64.7		$	66.2		$	72.3		$	74.1		16%
	Time Deposits, CDs and Other			16.2			17.9			22.5			27.1			25.9			24.3		36%
		Total Deposits	$	80.3		$	82.0		$	87.2		$	93.3		$	98.2		$	98.4		20%
	Checking Accounts (in millions)			3.6			3.6			3.8			3.9			3.9			4.0		11%
Primerica Financial Services:
	Life Insurance in Force (in billions of dollars)		$	583.9		$	596.4		$	602.8		$	605.5		$	614.0		$	623.5		5%
	Loan Volumes (in millions of dollars)		$	1,087.0		$	1,104.0		$	917.0		$	1,026.2		$	964.2		$	1,194.9		8%
	Mutual Fund Sales at NAV (in millions of dollars)		$	971		$	951		$	824		$	867		$	1,039		$	1,006		6%
	Variable Annuity Net Written Premiums & Deposits (in millions of dollars)		$	388		$	362		$	345		$	346		$	452		$	383		6%
	Investment AUMs (EOP) (in billions of dollars)		$	31.2		$	31.3		$	32.5		$	34.4		$	34.9		$	37.0		18%

(1)

During the second quarter of 2007, Retail Distribution transferred approximately 1 million accounts to Smith Barney related to the consolidation of Citicorp Investment Services into Smith Barney.

Reclassified to conform to the current period's presentation.

13

GLOBAL CONSUMER
U.S.
CONSUMER LENDING—Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues increased 23%, driven by growth in net interest revenues and net servicing revenues, higher gains on sales of loans, and the acquisition of ABN AMRO Mortgage Group in March 2007. Net interest revenues grew 14% as growth in average loans, up 13%, offset a decline in net interest margins.



•

Expenses grew 25%, driven by the integration of the ABN AMRO business and increased business volumes.



•

Higher credit costs primarily reflected increased delinquencies and higher net credit losses on second mortgages, and portfolio growth. Higher credit costs also reflected the absence of a $75 million release of loan loss reserves in the prior-year period. The net credit loss ratio in real estate lending increased 21 basis points to 0.40%.



•

Net income declined 6%, reflecting higher expenses and credit costs.

				1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue				$	1,207		$	1,214		$	1,185		$	1,235		$	1,350		$	1,389		14%	$	2,421		$	2,739		13%
Non-Interest Revenue					53			93			296			236			201			217		NM		146			418		NM
	Total Revenues, Net of Interest Expense				1,260			1,307			1,481			1,471			1,551			1,606		23%		2,567			3,157		23%
Total Operating Expenses					453			444			450			466			491			557		25%		897			1,048		17%
		Net Credit Losses			176			160			193			258			286			289		81%		336			575		71%
		Credit Reserve Build/(Release)			(31	)		(75	)		(8	)		(13	)		217			39		NM		(106	)		256		NM
		Provision for Benefits & Claims			(2	)		1			1			—			—			—		(100)%		(1	)		—		100%
Provision for Loan Losses and for Benefits and Claims					143			86			186			245			503			328		NM		229			831		NM
Income Before Taxes and Minority Interest					664			777			845			760			557			721		(7)%		1,441			1,278		(11)%
Income Taxes					218			287			308			263			190			266		(7)%		505			456		(10)%
Minority Interest, Net of Tax					9			20			16			13			8			14		(30)%		29			22		(24)%
Net Income				$	437		$	470		$	521		$	484		$	359		$	441		(6)%	$	907		$	800		(12)%
Average Assets (in billions of dollars)				$	209		$	221		$	244		$	291		$	313		$	324		47%	$	215		$	319		48%
Return on Assets					0.85	%		0.85	%		0.85	%		0.66	%		0.47	%		0.55	%			0.85	%		0.51	%
Average Risk Capital				$	3,732		$	3,451		$	3,770		$	4,766		$	6,256		$	6,618		92%	$	3,592		$	6,437		79%
Return on Risk Capital					47	%		55	%		55	%		40	%		23	%		27	%			51	%		25	%
Return on Invested Capital					27	%		30	%		31	%		25	%		16	%		18	%			28	%		17	%
Revenues by Business:
		Real Estate Lending		$	843		$	793		$	1,000		$	984		$	1,090		$	1,092		38%	$	1,636		$	2,182		33%
		Student Loans			117			202			163			150			112			149		(26)%		319			261		(18)%
		Auto			300			312			318			337			349			365		17%		612			714		17%
			Total Revenues, Net of Interest Expense	$	1,260		$	1,307		$	1,481		$	1,471		$	1,551		$	1,606		23%	$	2,567		$	3,157		23%
Net Income by Business:
		Real Estate Lending		$	328		$	297		$	389		$	387		$	297		$	298		—	$	625		$	595		(5)%
		Student Loans			38			75			58			49			29			47		(37)%		113			76		(33)%
		Auto			71			98			74			48			33			96		(2)%		169			129		(24)%
			Total Net Income	$	437		$	470		$	521		$	484		$	359		$	441		(6)%	$	907		$	800		(12)%

NM Not meaningful

Reclassified to conform to the current period's presentation.

14

GLOBAL CONSUMER
U.S.
CONSUMER LENDING—Page 2

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)
KEY INDICATORS:
Real Estate Lending—Balances (in billions of dollars):
	Average Loans		$	149.6		$	159.1		$	163.5		$	171.1		$	177.5		$	183.3		15%
	Originations		$	32.4		$	38.6		$	35.8		$	35.3		$	39.6		$	46.2		20%
	Third Party Mortgage Servicing Portfolio (EOP)		$	307.4		$	324.9		$	353.2		$	357.8		$	580.2		$	585.3		80%
	Net Servicing & Gain/(Loss) on Sale—(in millions of dollars)		$	10.5		$	(11.7	)	$	74.4		$	27.1		$	51.9		$	129.6		NM
	Net Interest Revenue—(in millions of dollars)		$	812		$	804		$	788		$	825		$	930		$	948		18%
	NIR as a % of Average Loans (excluding NIR for MBS & Warehouse Loans)			2.13	%		1.95	%		1.80	%		1.72	%		1.89	%		1.83	%
	Net Credit Loss Ratio			0.19	%		0.19	%		0.19	%		0.23	%		0.33	%		0.40	%
	Loans 90+Days Past Due—(in millions of dollars)		$	1,605		$	1,524		$	1,692		$	1,930		$	2,025		$	2,527		66%
		% of EOP Loans		1.03	%		0.94	%		1.02	%		1.11	%		1.13	%		1.38	%
Student Loans—Balances (in billions of dollars):
	Average Loans		$	24.7		$	24.7		$	23.2		$	21.9		$	22.5		$	20.9		(15)%
	Originations		$	2.9		$	1.9		$	4.1		$	2.1		$	2.8		$	1.3		(32)%
	Net Interest Revenue—(in millions of dollars)		$	104		$	106		$	88		$	83		$	85		$	89		(16)%
		NIR as a % of Average Loans		1.71	%		1.72	%		1.50	%		1.50	%		1.53	%		1.71	%
	Net Credit Loss Ratio			0.03	%		0.08	%		0.10	%		0.09	%		0.07	%		0.12	%
	Loans 90+Days Past Due—(in millions of dollars)		$	729		$	747		$	726		$	775		$	879		$	806		8%
		% of EOP Loans		2.95	%		3.26	%		3.34	%		3.56	%		4.19	%		4.01	%
Auto—(in billions of dollars):
	Average Loans		$	12.8		$	13.5		$	14.3		$	15.5		$	16.6		$	18.2		35%
	Originations		$	2.0		$	2.0		$	2.4		$	2.7		$	3.1		$	2.8		40%
	Net Interest Revenue—(in millions of dollars)		$	291		$	304		$	309		$	327		$	335		$	352		16%
		NIR as a % of Average Loans		9.22	%		9.03	%		8.57	%		8.37	%		8.18	%		7.76	%
	Net Credit Margin (NCM)—(in millions of dollars)		$	196		$	231		$	207		$	184		$	210		$	264		14%
		NCM as a % of Average Loans		6.21	%		6.86	%		5.74	%		4.71	%		5.13	%		5.82	%
	Net Credit Loss Ratio			3.29	%		2.44	%		3.08	%		3.92	%		3.40	%		2.23	%
	Loans 90+Days Past Due—(in millions of dollars)		$	77		$	85		$	138		$	165		$	122		$	175		NM
		% of EOP Loans		0.58	%		0.61	%		0.93	%		1.02	%		0.69	%		0.94	%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

15

GLOBAL CONSUMER
U.S.
COMMERCIAL BUSINESS
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues declined as increased loan and deposit balances, up 6% and 20%, respectively, were offset by lower net interest margins and an increase in the mix of tax-advantaged revenues.



•

Net income grew 9%, as lower revenues were offset by a decline in expenses and a tax benefit due to increased tax-advantaged revenues.

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue		$	287		$	311		$	295		$	306		$	275		$	257		(17)%	$	598		$	532		(11)%
Non-Interest Revenue			183			205			194			202			168			189		(8)%		388			357		(8)%
Total Revenues, Net of Interest Expense			470			516			489			508			443			446		(14)%		986			889		(10)%
Total Operating Expenses			363			353			328			346			330			295		(16)%		716			625		(13)%
	Net Credit Losses		14			12			8			23			19			33		NM		26			52		100%
	Credit Reserve Build/(Release)		(38	)		(8	)		(38	)		(18	)		10			(18	)	NM		(46	)		(8	)	83%
Total Provision for Loan Losses			(24	)		4			(30	)		5			29			15		NM		(20	)		44		NM
Income Before Taxes			131			159			191			157			84			136		(14)%		290			220		(24)%
Income Taxes			5			21			40			11			(37	)		(15	)	NM		26			(52	)	NM
Net Income		$	126		$	138		$	151		$	146		$	121		$	151		9%	$	264		$	272		3%
Average Assets (in billions of dollars)		$	41		$	42		$	44		$	47		$	49		$	49		17%	$	42		$	49		17%
Return on Assets			1.25	%		1.32	%		1.36	%		1.23	%		1.00	%		1.24	%			1.27	%		1.12	%
Average Risk Capital		$	2,315		$	2,235		$	2,323		$	2,452		$	2,684		$	2,633		18%	$	2,275		$	2,659		17%
Return on Risk Capital			22	%		25	%		26	%		24	%		18	%		23	%			23	%		21	%
Return on Invested Capital			11	%		12	%		13	%		12	%		10	%		12	%			11	%		11	%
Total Revenues, Tax Equivalent Basis (1)		$	535		$	582		$	539		$	578		$	545		$	565		(3)%
KEY INDICATORS (in billions of dollars):
Total Deposits		$	18.8		$	18.8		$	18.3		$	19.8		$	21.0		$	22.5		20%
Commercial Real Estate		$	16.1		$	16.7		$	16.8		$	17.3		$	17.8		$	18.2		9%
Equipment Finance			14.1			14.4			14.6			14.8			15.0			14.3		(1)%
Other			3.3			3.3			3.4			3.6			3.7			4.0		21%
Average Loans		$	33.5		$	34.4		$	34.8		$	35.7		$	36.5		$	36.5		6%
Average Loans—Liquidating			0.4			0.3			0.2			0.1			0.1			0.1		(67)%
Average Loans—Total		$	33.9		$	34.7		$	35.0		$	35.8		$	36.6		$	36.6		5%
Operating Leases			1.8			1.8			1.8			1.9			1.9			1.7		(6)%
Total Average Earning Assets		$	35.7		$	36.5		$	36.8		$	37.7		$	38.5		$	38.3		5%
Net Credit Loss Ratio			0.17	%		0.14	%		0.09	%		0.25	%		0.21	%		0.36	%
Loans 90+Days Past Due—(in millions of dollars)		$	151		$	189		$	191		$	149		$	195		$	140		(26)%
	% of EOP Loans		0.44	%		0.53	%		0.54	%		0.41	%		0.52	%		0.37	%

(1)

Includes tax-equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) relating to income tax credits arising from affordable housing investments and for tax-exempt income from municipal bond investments.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

16

GLOBAL CONSUMER
INTERNATIONAL
CARDS—Page 1
(In millions of dollars)

        For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenue and net income growth was driven by higher purchase sales and average loans, up 31% and 44%, respectively, and improved net interest margins. Loan balances grew at a double-digit pace in Mexico, EMEA, Asia and Latin America. Results include the integration of Credicard in Brazil and recent acquisitions.



•

Expenses grew 31%, reflecting investment spending, higher customer activity, and the integration of recent acquisitions.



•

Net income increased 7%, reflecting increased credit costs, up 67%. Credit costs increased primarily due to organic portfolio growth, acquisitions, and increased past due accounts and portfolio seasoning in Mexico.

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue		$	773		$	912		$	964		$	1,068		$	1,121		$	1,488		63%	$	1,685		$	2,609		55%
Non-Interest Revenue			507			598			555			582			618			525		(12)%		1,105			1,143		3%
	Total Revenues, Net of Interest Expense		1,280			1,510			1,519			1,650			1,739			2,013		33%		2,790			3,752		34%
Total Operating Expenses			617			714			740			837			819			933		31%		1,331			1,752		32%
	Net Credit Losses		218			333			347			402			384			397		19%		551			781		42%
	Specific and Unallocated Credit Reserve Build/(Release)		94			26			59			87			22			201		NM		120			223		86%
Total Provision for Loan Losses			312			359			406			489			406			598		67%		671			1,004		50%
Income Before Taxes and Minority Interest			351			437			373			324			514			482		10%		788			996		26%
Income Taxes and Minority Interest			60			109			86			93			126			131		20%		169			257		52%
Net Income		$	291		$	328		$	287		$	231		$	388		$	351		7%	$	619		$	739		19%
Average Assets (in billions of dollars)		$	28		$	30		$	32		$	34		$	38		$	45		50%	$	29		$	42		45%
Return on Assets			4.21	%		4.39	%		3.56	%		2.70	%		4.14	%		3.13	%			4.30	%		3.55	%
Average Risk Capital		$	2,073		$	2,202		$	2,185		$	2,301		$	2,537		$	2,927		33%	$	2,138		$	2,732		28%
Return on Risk Capital			57	%		60	%		52	%		40	%		62	%		48	%			58	%		55	%
Return on Invested Capital			27	%		29	%		24	%		18	%		26	%		22	%			28	%		24	%
Revenues by Region:
	Mexico	$	405		$	443		$	465		$	513		$	530		$	558		26%	$	848		$	1,088		28%
	EMEA		294			327			328			353			375			505		54%		621			880		42%
	Japan		70			74			72			72			62			67		(9)%		144			129		(10)%
	Asia (excluding Japan)		415			428			402			429			446			461		8%		843			907		8%
	Latin America		96			238			252			283			326			422		77%		334			748		NM
	Total	$	1,280		$	1,510		$	1,519		$	1,650		$	1,739		$	2,013		33%	$	2,790		$	3,752		34%
Net Income by Region:
	Mexico	$	149		$	147		$	133		$	84		$	169		$	155		5%	$	296		$	324		9%
	EMEA		32			43			55			19			46			55		28%		75			101		35%
	Japan		21			13			13			16			9			13		—		34			22		(35)%
	Asia (excluding Japan)		54			56			73			82			98			98		75%		110			196		78%
	Latin America		35			69			13			30			66			30		(57)%		104			96		(8)%
	Total	$	291		$	328		$	287		$	231		$	388		$	351		7%	$	619		$	739		19%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

17

GLOBAL CONSUMER
INTERNATIONAL
CARDS—Page 2

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)
KEY INDICATORS (in billions of dollars)
Average Yield				18.61	%		19.03	%		19.20	%		19.52	%		19.58	%		19.52	%
Net Interest Revenue as a % of Average Loans				12.90	%		14.02	%		13.91	%		14.31	%		14.57	%		15.83	%
Net Credit Margin (in millions of dollars)(1)			$	1,062		$	1,177		$	1,172		$	1,248		$	1,355		$	1,616		37%
	% of Average Loans			17.72	%		18.09	%		16.91	%		16.73	%		17.61	%		17.19	%
End of Period Loans			$	24.1		$	26.8		$	28.1		$	31.0		$	32.2		$	40.9		53%
EOP Open Accounts (in millions)				26.7			30.1			30.6			30.9			31.7			34.7		15%
Purchase Sales(2)			$	17.4		$	19.7		$	20.5		$	23.0		$	21.7		$	25.8		31%
Average Loans:
	Mexico		$	5.5		$	5.6		$	6.0		$	6.6		$	6.8		$	7.3		30%
	EMEA			6.1			6.5			6.7			7.4			7.8			12.1		86%
	Japan			1.3			1.4			1.4			1.4			1.4			1.4		0%
	Asia (excluding Japan)			10.4			10.7			10.9			11.5			11.9			12.5		17%
	Latin America			1.0			1.9			2.5			2.7			3.3			4.4		NM
		Total	$	24.3		$	26.1		$	27.5		$	29.6		$	31.2		$	37.7		44%
Coincident Net Credit Loss Ratio				3.64	%		5.12	%		5.01	%		5.39	%		4.99	%		4.22	%
12 Month Lagged Net Credit Loss Ratio				4.13	%		6.02	%		6.06	%		6.82	%		6.41	%		6.10	%
Loans 90+Days Past Due (in millions of dollars)			$	535		$	643		$	723		$	709		$	736		$	950		48%
	% of EOP Loans			2.22	%		2.40	%		2.57	%		2.29	%		2.29	%		2.32	%

(1)

Total Revenues, net of Interest Expense, less Net Credit Losses.

(2)

Purchase Sales represents customers' purchased sales plus cash advances.

NM Not meaningful

Reclassified to conform to the current period's presentation.

18

GLOBAL CONSUMER
INTERNATIONAL
CONSUMER FINANCE—Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

In Japan, revenues and net income declined due to lower receivable balances and increased customer refunds and credit costs. Results reflect recent changes in the operating environment and the fourth quarter 2006 passage of new consumer lending laws. The revenue decline also reflects a narrowing of the target market. Lower revenues were partially offset by a decline in expenses, driven by a repositioning of the business that included closing 273 branches and 101 automated loan machines since the third quarter of 2006.



•

Outside of Japan, revenues increased 23%, driven by average loan growth of 21% and stable net interest margins. Net income declined as revenue growth was offset by an increase in credit costs due to portfolio growth, target market expansion, and the absence of certain asset sales in the prior-year period that lowered net credit losses. The net credit loss ratio increased 85 basis points to 3.21%. The credit environment outside of Japan remained generally stable.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue			$	921		$	971		$	962		$	295		$	838		$	793		(18)%	$	1,892		$	1,631		(14)%
Non-Interest Revenue				41			38			36			54			52			50		32%		79			102		29%
Total Revenues, Net of Interest Expense				962			1,009			998			349			890			843		(16)%		1,971			1,733		(12)%
Total Operating Expenses				419			427			406			498			407			398		(7)%		846			805		(5)%
	Net Credit Losses			319			323			389			380			430			437		35%		642			867		35%
	Credit Reserve Build / (Release)			(16	)		17			135			25			26			30		76%		1			56		NM
	Provision for Benefits & Claims			1			—			(1	)		1			—			—		—		1			—		(100)%
Provision for Loan Losses and for Benefits and Claims				304			340			523			406			456			467		37%		644			923		43%
Income Before Taxes (Benefits)				239			242			69			(555	)		27			(22	)	NM		481			5		(99)%
Income Taxes (Benefits)				71			69			19			(204	)		2			(16	)	NM		140			(14	)	NM
Net Income (Loss)			$	168		$	173		$	50		$	(351	)	$	25		$	(6	)	NM	$	341		$	19		(94)%
Average Assets (in billions of dollars)			$	26		$	27		$	28		$	29		$	29		$	29		7%	$	27		$	29		7%
Return on Assets				2.62	%		2.57	%		0.71	%		(4.80	)%		0.35	%		(0.08	)%			2.55	%		0.13	%
Average Risk Capital			$	1,165		$	1,042		$	1,093		$	1,156		$	1,187		$	1,156		11%	$	1,104		$	1,172		6%
Return on Risk Capital				58	%		67	%		18	%		(120	)%		9	%		(2	)%			62	%		3	%
Return on Invested Capital				19	%		20	%		6	%		(30	)%		3	%		(1	)%			20	%		1	%
Revenues by Region:
	Mexico		$	53		$	55		$	62		$	66		$	70		$	71		29%	$	108		$	141		31%
	EMEA			184			193			191			203			203			209		8%		377			412		9%
	Asia (excluding Japan)			98			108			120			136			140			155		44%		206			295		43%
	Latin America			36			38			38			43			43			50		32%		74			93		26%
		sub-total		371			394			411			448			456			485		23%		765			941		23%
	Japan			591			615			587			(99	)		434			358		(42)%		1,206			792		(34)%
		Total	$	962		$	1,009		$	998		$	349		$	890		$	843		(16)%	$	1,971		$	1,733		(12)%
Net Income (Loss) by Region:
	Mexico		$	10		$	11		$	12		$	8		$	10		$	8		(27)%	$	21		$	18		(14)%
	EMEA			7			15			(13	)		(5	)		(3	)		4		(73)%		22			1		(95)%
	Asia (excluding Japan)			16			12			15			16			13			16		33%		28			29		4%
	Latin America			—			1			(1	)		(2	)		(4	)		(1	)	NM		1			(5	)	NM
		sub-total		33			39			13			17			16			27		(31)%		72			43		(40)%
	Japan			135			134			37			(368	)		9			(33	)	NM		269			(24	)	NM
		Total	$	168		$	173		$	50		$	(351	)	$	25		$	(6	)	NM	$	341		$	19		(94)%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

19

GLOBAL CONSUMER
INTERNATIONAL
CONSUMER FINANCE—Page 2

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)
KEY INDICATORS:
Average Loans by Product (in billions of dollars):
	Real estate secured loans		$	8.1		$	8.5		$	8.6		$	8.9		$	9.1		$	9.1		7%
	Personal loans			13.3			14.3			14.6			15.0			15.0			15.3		7%
	Auto			0.3			0.3			0.2			0.2			0.1			0.1		(67)%
	Sales finance and other			0.7			0.7			0.8			0.8			0.8			0.8		14%
		Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		$	25.3		6%
Average Loans by Region (in billions of dollars):
	Mexico		$	0.3		$	0.3		$	0.4		$	0.4		$	0.4		$	0.4		33%
	EMEA			9.6			10.4			10.5			10.9			11.0			11.2		8%
	Asia (excluding Japan)			2.3			2.6			2.9			3.4			3.8			4.3		65%
	Latin America			0.6			0.6			0.7			0.7			0.8			0.9		50%
		sub-total		12.8			13.9			14.5			15.4			16.0			16.8		21%
	Japan			9.6			9.9			9.7			9.5			9.0			8.5		(14)%
		Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		$	25.3		6%
Average Yield				19.06	%		18.88	%		18.49	%		7.82	%		17.08	%		16.49	%
Net Interest Revenue as a % of Average Loans				16.67	%		16.36	%		15.77	%		4.70	%		13.59	%		12.57	%
Net Credit Margin (NCM)—(in millions of dollars)			$	643		$	686		$	609		$	(31	)	$	460		$	406		(41)%
	NCM as a % of Average Loans			11.64	%		11.56	%		9.98	%		(0.49	)%		7.46	%		6.44	%
Net Credit Loss Ratio				5.78	%		5.44	%		6.38	%		6.05	%		6.98	%		6.93	%
Net Credit Loss Ratio—Japan				9.12	%		9.74	%		11.26	%		11.15	%		13.56	%		14.25	%
Loans 90+ Days Past Due—(in millions of dollars)			$	437		$	519		$	575		$	608		$	592		$	612		18%
	% of EOP Loans			1.93	%		2.16	%		2.37	%		2.43	%		2.34	%		2.43	%
Number of Sales Points:
	Mexico Branches			288			312			349			394			419			424		36%
	EMEA Branches			306			326			339			354			306			308		(6)%
	Asia (excluding Japan) Branches			489			547			582			641			640			641		17%
	Latin America Branches			180			188			213			255			253			248		32%
		sub-total		1,263			1,373			1,483			1,644			1,618			1,621		18%
	Japan Branches			325			324			324			135			51			51		(84)%
	Japan Automated Loan Machines (ALMs)			731			809			809			809			708			708		(12)%
		Total Japan		1,056			1,133			1,133			944			759			759		(33)%
	Total			2,319			2,506			2,616			2,588			2,377			2,380		(5)%

Reclassified to conform to the current period's presentation.

20

GLOBAL CONSUMER
INTERNATIONAL
RETAIL BANKING—Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues increased 19%, driven by increased deposits and loans, up 15% and 24%, respectively, and 46% growth in investment product sales. Loan growth was partially offset by net interest margin compression. Loan balances grew at a double-digit pace in EMEA, Asia, Latin America, and Mexico. Results include the integration of recent acquisitions.



•

Expenses grew 24%, reflecting increased business volumes and acquisitions. During the quarter, 128 new branches were acquired or opened.



•

Credit costs increased as lower net credit losses, due to portfolio sales, were offset by the absence of a $105 million net release of loan loss reserves recorded in the prior-year period. The credit environment remained stable.



•

Net income declined 6%, reflecting higher credit costs, and lower APB 23 tax benefits in Mexico.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue			$	1,439		$	1,460		$	1,519		$	1,582		$	1,530		$	1,657		13%	$	2,899		$	3,187		10%
Non-Interest Revenue				1,028			1,095			1,031			1,364			1,229			1,373		25%		2,123			2,602		23%
	Total Revenues, Net of Interest Expense			2,467			2,555			2,550			2,946			2,759			3,030		19%		5,022			5,789		15%
Total Operating Expenses				1,585			1,560			1,623			1,775			1,750			1,933		24%		3,145			3,683		17%
	Net Credit Losses			184			191			141			221			238			168		(12)%		375			406		8%
	Credit Reserve Build/(Release)			(77	)		(105	)		(93	)		(12	)		64			5		NM		(182	)		69		NM
	Provision for Benefits & Claims			44			37			55			54			52			27		(27)%		81			79		(2)%
Provision for Loan Losses and for Benefits and Claims				151			123			103			263			354			200		63%		274			554		NM
Income Before Taxes and Minority Interest				731			872			824			908			655			897		3%		1,603			1,552		(3)%
Income Taxes				53			156			123			159			115			213		37%		209			328		57%
Minority Interest, Net of Tax				1			2			—			1			—			13		NM		3			13		NM
Net Income			$	677		$	714		$	701		$	748		$	540		$	671		(6)%	$	1,391		$	1,211		(13)%
Average Assets (in billions of dollars)			$	119		$	120		$	127		$	131		$	132		$	148		23%	$	120		$	140		17%
Return on Assets				2.31	%		2.39	%		2.19	%		2.27	%		1.66	%		1.82	%			2.34	%		1.74	%
Average Risk Capital			$	9,407		$	9,481		$	9,348		$	9,641		$	10,123		$	11,295		19%	$	9,443		$	10,710		13%
Return on Risk Capital				29	%		30	%		30	%		31	%		22	%		24	%			30	%		23	%
Return on Invested Capital				15	%		16	%		15	%		17	%		13	%		13	%			16	%		13	%
Total Revenues, Net of Interest Expense:
	Mexico		$	691		$	694		$	711		$	1,033		$	777		$	725		4%	$	1,385		$	1,502		8%
	EMEA			792			840			834			848			868			904		8%		1,632			1,772		9%
	Japan			114			118			123			118			119			255		NM		232			374		61%
	Asia (excluding Japan)			676			708			687			726			773			848		20%		1,384			1,621		17%
	Latin America			194			195			195			221			222			298		53%		389			520		34%
		Total	$	2,467		$	2,555		$	2,550		$	2,946		$	2,759		$	3,030		19%	$	5,022		$	5,789		15%
Net Income (Loss) by Region:
	Mexico		$	199		$	217		$	250		$	385		$	193		$	197		(9)%	$	416		$	390		(6)%
	EMEA			146			157			171			98			40			89		(43)%		303			129		(57)%
	Japan			32			31			29			26			27			52		68%		63			79		25%
	Asia (excluding Japan)			277			291			240			234			272			312		7%		568			584		3%
	Latin America			23			18			11			5			8			21		17%		41			29		(29)%
		Total	$	677		$	714		$	701		$	748		$	540		$	671		(6)%	$	1,391		$	1,211		(13)%
KEY INDICATORS:
Net Credit Loss Ratio				1.21	%		1.22	%		0.87	%		1.29	%		1.38	%		0.87	%
Loans 90+Days Past Due (in millions of dollars)			$	736		$	680		$	679		$	667		$	630		$	658		(3)%
% of EOP Loans				1.21	%		1.08	%		1.04	%		0.97	%		0.88	%		0.83	%
Branches by Region:
	Mexico			1,404			1,441			1,452			1,510			1,520			1,524		6%
	EMEA			636			663			682			711			717			715		8%
	Japan			25			25			25			25			25			25		—
	Asia (excluding Japan)			403			404			405			412			403			403		—
	Latin America			179			187			209			232			318			430		NM
	Total			2,647			2,720			2,773			2,890			2,983			3,097		14%

NM Not meaningful

Reclassified to conform to the current period's presentation.

21

GLOBAL CONSUMER
INTERNATIONAL
RETAIL BANKING—Page 2

			1Q 2006		2Q 2006		3Q 2006		4Q 2006		1Q 2007		2Q 2007		2Q07 vs. 2Q06 Increase/ (Decrease)
KEY INDICATORS (Continued):
International—Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	76.8	$	78.8	$	77.6	$	75.9	$	77.2	$	86.5	10%
	Time Deposits, CDs and Other			67.7		67.8		70.8		74.5		77.0		81.9	21%
	Total Average Deposits		$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	$	168.4	15%
	Investment Sales		$	17.1	$	18.2	$	16.0	$	17.7	$	22.7	$	26.6	46%
	Investment AUMs (EOP)		$	90.1	$	90.0	$	95.2	$	101.1	$	112.6	$	121.6	35%
	Other (primarily Retirement Services)			34.1		32.8		32.5		37.1		26.3		28.7	(13)%
		Total AUMs	$	124.2	$	122.8	$	127.7	$	138.2	$	138.9	$	150.3	22%
Average Customer Deposits by Region (in billions of dollars):
	Mexico		$	25.9	$	24.9	$	25.7	$	25.5	$	25.0	$	26.0	4%
	EMEA			31.0		32.8		32.7		33.0		33.9		42.6	30%
	Japan			20.8		21.1		20.9		21.0		20.9		20.6	(2)%
	Asia (excluding Japan)			59.6		60.6		61.5		62.9		65.7		67.2	11%
	Latin America			7.2		7.2		7.6		8.0		8.7		12.0	67%
		Total	$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	$	168.4	15%
Average Loans by Region (in billions of dollars):
	Mexico		$	8.2	$	7.7	$	7.9	$	8.2	$	8.3	$	9.0	17%
	EMEA			17.4		18.6		19.0		19.8		20.2		24.8	33%
	Japan			0.7		0.8		0.6		0.6		0.6		0.5	(38)%
	Asia (excluding Japan)			34.1		34.4		35.6		37.6		39.0		40.5	18%
	Latin America			1.1		1.1		1.3		1.5		1.7		2.8	NM
		Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	$	77.6	24%
Average Loans by Type (in billions of dollars):
	Mortgage		$	23.3	$	23.2	$	24.2	$	25.5	$	25.8	$	27.8	20%
	Auto			2.3		2.2		2.2		2.2		2.2		2.3	5%
	Installment/Overdraft			23.2		24.4		25.4		26.9		27.9		32.0	31%
	Commercial			8.1		8.2		8.5		9.0		9.9		10.6	29%
	Other Retail			4.6		4.6		4.1		4.1		4.0		4.9	7%
		Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	$	77.6	24%
EOP Accounts by Region (in millions):
	Mexico			18.5		19.0		19.8		20.4		21.1		19.8	4%
	EMEA			9.0		9.3		9.6		10.0		10.2		11.7	26%
	Japan			2.0		2.1		2.1		2.1		2.1		2.1	—
	Asia (excluding Japan)			12.0		12.1		12.3		11.6		11.9		12.2	1%
	Latin America			7.0		7.2		7.5		7.7		8.3		8.7	21%
		Total		48.5		49.7		51.3		51.8		53.6		54.5	10%

NM Not meaningful

Reclassified to conform to the current period's presentation.

22

MARKETS & BANKING
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006		4Q 2006			1Q 2007		2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Markets & Banking:
Net Interest Revenue	$	2,234		$	2,147		$	1,913	$	2,198		$	2,452	$	2,831		32%	$	4,381		$	5,283		21%
Non-Interest Revenue		5,045			4,614			4,154		4,882			6,505		6,130		33%		9,659			12,635		31%
Total Revenues, Net of Interest Expense		7,279			6,761			6,067		7,080			8,957		8,961		33%		14,040			17,918		28%
Total Operating Expenses		4,757			4,158			3,622		4,582			5,111		4,948		19%		8,915			10,059		13%
Total Provision for Credit Losses		—			173			107		79			263		(62	)	NM		173			201		16%
Income Before Taxes and Minority Interest		2,522			2,430			2,338		2,419			3,583		4,075		68%		4,952			7,658		55%
Income Taxes		574			702			598		654			947		1,236		76%		1,276			2,183		71%
Minority Interest, Net of Tax		19			5			19		11			15		7		40%		24			22		(8)%
Net Income	$	1,929		$	1,723		$	1,721	$	1,754		$	2,621	$	2,832		64%	$	3,652		$	5,453		49%
U.S.:
Net Interest Revenue	$	858		$	713		$	356	$	782		$	710	$	1,019		43%	$	1,571		$	1,729		10%
Non-Interest Revenue		2,065			2,090			1,651		1,640			3,004		2,022		(3)%		4,155			5,026		21%
Total Revenues, Net of Interest Expense		2,923			2,803			2,007		2,422			3,714		3,041		8%		5,726			6,755		18%
Total Operating Expenses		2,251			1,621			1,218		1,916			2,219		1,655		2%		3,872			3,874		—
Total Provision for Credit Losses		52			137			55		16			65		6		(96)%		189			71		(62)%
Income Before Taxes and Minority Interest		620			1,045			734		490			1,430		1,380		32%		1,665			2,810		69%
Income Taxes		94			301			185		85			430		408		36%		395			838		NM
Minority Interest, Net of Tax		11			(3	)		9		(2	)		1		(12	)	NM		8			(11	)	NM
Net Income	$	515		$	747		$	540	$	407		$	999	$	984		32%	$	1,262		$	1,983		57%
International:
Net Interest Revenue	$	1,376		$	1,434		$	1,557	$	1,416		$	1,742	$	1,812		26%	$	2,810		$	3,554		26%
Non-Interest Revenue		2,980			2,524			2,503		3,242			3,501		4,108		63%		5,504			7,609		38%
Total Revenues, Net of Interest Expense		4,356			3,958			4,060		4,658			5,243		5,920		50%		8,314			11,163		34%
Total Operating Expenses		2,506			2,537			2,404		2,666			2,892		3,293		30%		5,043			6,185		23%
Total Provision for Credit Losses		(52	)		36			52		63			198		(68	)	NM		(16	)		130		NM
Income Before Taxes and Minority Interest		1,902			1,385			1,604		1,929			2,153		2,695		95%		3,287			4,848		47%
Income Taxes		480			401			413		569			517		828		NM		881			1,345		53%
Minority Interest, Net of Tax		8			8			10		13			14		19		NM		16			33		NM
Net Income	$	1,414		$	976		$	1,181	$	1,347		$	1,622	$	1,848		89%	$	2,390		$	3,470		45%

NM Not meaningful

Reclassified to conform to the current period's presentation.

23

MARKETS & BANKING
INCOME STATEMENT
(In millions of dollars)

				1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues:
	Commissions and Fees			$	682		$	713		$	555		$	591		$	697		$	693		(3)%	$	1,395		$	1,390		—
	Administration and Other Fiduciary Fees				756			797			780			797			865			974		22%		1,553			1,839		18%
	Investment Banking				1,078			1,153			1,020			1,366			1,680			1,264		10%		2,231			2,944		32%
	Principal Transactions				2,150			1,425			1,434			1,598			2,673			2,561		80%		3,575			5,234		46%
	Other				379			526			365			530			590			638		21%		905			1,228		36%
		Total Non-Interest Revenues			5,045			4,614			4,154			4,882			6,505			6,130		33%		9,659			12,635		31%
		Net Interest Revenue (including Dividends)			2,234			2,147			1,913			2,198			2,452			2,831		32%		4,381			5,283		21%
			Total Revenues, Net of Interest Expense		7,279			6,761			6,067			7,080			8,957			8,961		33%		14,040			17,918		28%
Non-Interest Expenses:
	Compensation and Benefits				3,178			2,550			2,045			2,752			3,426			3,288		29%		5,728			6,714		17%
	Other Operating and Administrative Expenses				1,579			1,608			1,577			1,830			1,685			1,660		3%		3,187			3,345		5%
			Total Non-Interest Expenses		4,757			4,158			3,622			4,582			5,111			4,948		19%		8,915			10,059		13%
Provision for Loan Losses					(50	)		23			57			79			263			(62	)	NM		(27	)		201		NM
Provision for Unfunded Lending Commitments					50			150			50			—			—			—		(100)%		200			—		(100)%
Total Provision for Credit Losses					—			173			107			79			263			(62	)	NM		173			201		16%
Income Before Taxes and Minority Interest					2,522			2,430			2,338			2,419			3,583			4,075		68%		4,952			7,658		55%
Income Taxes					574			702			598			654			947			1,236		76%		1,276			2,183		71%
Minority Interest, Net of Tax					19			5			19			11			15			7		40%		24			22		(8)%
		Net Income		$	1,929		$	1,723		$	1,721		$	1,754		$	2,621		$	2,832		64%	$	3,652		$	5,453		49%
Pre-tax Profit Margin					34.6	%		35.9	%		38.5	%		34.2	%		40.0	%		45.5	%			35.3	%		42.7	%
Compensation and Benefits Expenses as a Percent of Net Revenues(1)					43.7	%		37.7	%		33.7	%		38.9	%		38.2	%		36.7	%			40.8	%		37.5	%
Non-Compensation Expenses as a Percent of Net Revenues					21.7	%		23.8	%		26.0	%		25.8	%		18.8	%		18.5	%			22.7	%		18.7	%

(1)

The 2006 first quarter includes $449 million (pretax) related to the adoption of SFAS 123(R).

NM Not meaningful

Reclassified to conform to the current period's presentation.

24

MARKETS & BANKING
REVENUE DETAILS
(In millions of dollars)

					1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenue Details:
	Investment Banking:
		Advisory and Other Fees			$	295		$	296		$	355		$	383		$	429		$	397		34%	$	591		$	826		40%
		Equity Underwriting				286			284			204			463			523			539		90%		570			1,062		86%
		Debt Underwriting				713			670			639			666			813			712		6%		1,383			1,525		10%
				Gross Investment Banking		1,294			1,250			1,198			1,512			1,765			1,648		32%		2,544			3,413		34%
		Revenue Allocated to the Global Wealth Management Segment:
			Equity Underwriting			(42	)		(49	)		(59	)		(111	)		(136	)		(137	)	NM		(91	)		(273	)	NM
			Debt Underwriting			(36	)		(51	)		(50	)		(58	)		(34	)		(42	)	18%		(87	)		(76	)	13%
				Net Investment Banking		1,216			1,150			1,089			1,343			1,595			1,469		28%		2,366			3,064		30%
Lending						411			569			481			526			561			495		(13)%		980			1,056		8%
Equity Markets						1,179			945			868			900			1,483			1,582		67%		2,124			3,065		44%
Fixed Income Markets						3,148			2,762			2,315			2,749			3,771			3,419		24%		5,910			7,190		22%
Other Securities and Banking(1)						(58	)		(157	)		(186	)		(32	)		(97	)		156		NM		(215	)		59		NM
Total Securities and Banking Revenues (1)						5,896			5,269			4,567			5,486			7,313			7,121		35%		11,165			14,434		29%
Transaction Services						1,382			1,495			1,500			1,594			1,645			1,840		23%		2,877			3,485		21%
Other						1			(3	)		—			—			(1	)		—		100%		(2	)		(1	)	50%
Total Markets & Banking Revenues					$	7,279		$	6,761		$	6,067		$	7,080		$	8,957		$	8,961		33%	$	14,040		$	17,918		28%

(1)

Prior to the second quarter of 2007, Securities and Banking revenues reflect Citigroup's portion (49%) of the results of the Nikko Citigroup Joint Venture on each respective line with an offset in Other Securities and Banking to conform to the GAAP presentation. Beginning in the 2007 second quarter, these results are consolidated.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

25

MARKETS & BANKING
SECURITIES AND BANKING
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Fixed income markets revenues increased 24% to $3.42 billion, driven by improved results across all products, including interest rates and currencies, credit and securitized products, and commodities.



•

Equity markets revenues grew 67% to a record $1.58 billion on higher results in cash trading, derivatives, equity finance, and convertibles.



•

Gross investment banking revenues were $1.65 billion, reflecting record equity underwriting revenues of $539 million, up 90%, and increased advisory and other fees, up 34%. Net investment banking revenues increased 28% to $1.47 billion.



•

Operating expenses increased 30% due to higher business volumes and compensation costs.



•

Credit costs decreased reflecting a stable global corporate credit environment and the absence of a $120 million net increase to loan loss reserves recorded in the prior-year period.



•

Net income increased 52% to $2.15 billion.

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue		$	1,571		$	1,408		$	1,139		$	1,365		$	1,614		$	1,908		36%	$	2,979		$	3,522		18%
Non-Interest Revenue			4,325			3,861			3,428			4,121			5,699			5,213		35%		8,186			10,912		33%
Total Revenues, Net of Interest Expense			5,896			5,269			4,567			5,486			7,313			7,121		35%		11,165			14,434		29%
Total Operating Expenses			3,803			3,154			2,655			3,524			4,059			4,102		30%		6,957			8,161		17%
	Provision for Loan Losses		(51	)		19			50			73			258			(56	)	NM		(32	)		202		NM
	Provision for Unfunded Lending Commitments		46			138			48			—			—			—		(100)%		184			—		(100)%
Total Provision for Credit Losses			(5	)		157			98			73			258			(56	)	NM		152			202		33%
Income Before Taxes and Minority Interest			2,098			1,958			1,814			1,889			2,996			3,075		57%		4,056			6,071		50%
Income Taxes			461			541			452			490			812			927		71%		1,002			1,739		74%
Minority Interest, Net of Tax			19			5			18			10			11			3		(40)%		24			14		(42)%
Net Income		$	1,618		$	1,412		$	1,344		$	1,389		$	2,173		$	2,145		52%	$	3,030		$	4,318		43%
Average Risk Capital		$	19,123		$	20,173		$	20,450		$	20,817		$	22,701		$	25,912		28%	$	19,648		$	24,307		24%
Return on Risk Capital			34	%		28	%		26	%		26	%		39	%		33	%			31	%		36	%
Return on Invested Capital			26	%		21	%		19	%		20	%		30	%		26	%			23	%		28	%
Investment Banking
Global Debt, Equity and Equity-related Underwriting:
	Global Volume(1)	$	180,639		$	164,613		$	154,680		$	180,931		$	204,508		$	194,940		18%	$	345,252		$	399,448		16%
	Global Market Share		9.1	%		8.5	%		9.0	%		8.3	%		9.0	%		8.4	%			8.8	%		8.7	%
	Rank		1			1			1			1			1			1				1			1
	U.S. Volume(1)	$	112,927		$	118,422		$	101,607		$	102,835		$	137,521		$	130,265		10%	$	231,349		$	267,786		16%
	U.S. Market Share		10.3	%		10.3	%		10.0	%		9.1	%		11.4	%		10.7	%			10.3	%		11.1	%
	Rank		1			1			1			1			1			1				1			1

(1)

Full credit to book manager. Market volumes and shares sourced from Thomson Financial Securities Data.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

26

MARKETS & BANKING
TRANSACTION SERVICES
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenues increased 23% to a record $1.84 billion, driven by higher customer volumes and stable net interest margins. Liability balances grew 24% and assets under custody were up 22%.



•

Operating expenses increased 14%, primarily driven by increased business volumes, and credit remained stable.



•

Net income increased 51% to a record $514 million.

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue		$	663		$	739		$	774		$	833		$	838		$	923		25%	$	1,402		$	1,761		26%
Non-Interest Revenue			719			756			726			761			807			917		21%		1,475			1,724		17%
Total Revenues, Net of Interest Expense			1,382			1,495			1,500			1,594			1,645			1,840		23%		2,877			3,485		21%
Total Operating Expenses			949			989			954			1,058			1,037			1,125		14%		1,938			2,162		12%
	Provision for Loan Losses		1			4			7			6			5			(6	)	NM		5			(1	)	NM
	Provision for Unfunded Lending Commitments		4			12			2			—			—			—		(100)%		16			—		(100)%
Total Provision for Credit Losses			5			16			9			6			5			(6	)	NM		21			(1	)	NM
Income Before Taxes and Minority Interest			428			490			537			530			603			721		47%		918			1,324		44%
Income Taxes and Minority Interest, Net of Tax			105			150			152			152			156			207		38%		255			363		42%
Net Income		$	323		$	340		$	385		$	378		$	447		$	514		51%	$	663		$	961		45%
Average Risk Capital		$	1,470		$	1,582		$	1,517		$	1,376		$	1,442		$	1,643		4%	$	1,526		$	1,543		1%
Return on Risk Capital			89	%		86	%		101	%		109	%		126	%		125	%			88	%		126	%
Return on Invested Capital			50	%		50	%		57	%		59	%		67	%		70	%			50	%		69	%
Revenue Details:
	Cash Management	$	792		$	856		$	894		$	963		$	981		$	1,047		22%	$	1,648		$	2,028		23%
	Securities Services		438			478			450			478			507			624		31%		916			1,131		23%
	Trade		152			161			156			153			157			169		5%		313			326		4%
Total Revenues, Net of Interest Expense		$	1,382		$	1,495		$	1,500		$	1,594		$	1,645		$	1,840		23%	$	2,877		$	3,485		21%
Average Deposits and Other Customer Liability Balances (in billions)		$	170		$	191		$	191		$	203		$	213		$	237		24%
Assets Under Custody (EOP in trillions)		$	8.8		$	9.3		$	9.6		$	10.4		$	10.7		$	11.3		22%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

27

GLOBAL WEALTH MANAGEMENT
(In millions of dollars)

	1Q 2006		2Q 2006			3Q 2006		4Q 2006			1Q 2007		2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006		Six Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Wealth Management:
Net Interest Revenue	$	460	$	444		$	480	$	538		$	529	$	526		18%	$	904	$	1,055	17%
Non-Interest Revenue		2,023		2,048			2,006		2,178			2,289		2,671		30%		4,071		4,960	22%
Total Revenues, Net of Interest Expense		2,483		2,492			2,486		2,716			2,818		3,197		28%		4,975		6,015	21%
Total Operating Expenses		2,055		1,961			1,894		2,096			2,102		2,455		25%		4,016		4,557	13%
Total Provision for Loan Losses		5		8			16		(5	)		17		12		50%		13		29	NM
Income Before Taxes and Minority Interest		423		523			576		625			699		730		40%		946		1,429	51%
Income Taxes		136		176			177		214			251		199		13%		312		450	44%
Minority Interest, Net of Tax		—		—			—		—			—		17		—		—		17	—
Net Income	$	287	$	347		$	399	$	411		$	448	$	514		48%	$	634	$	962	52%
Financial Advisors (FA)/Bankers		13,837		13,671			13,601		13,694			13,605		15,595		14%
Annualized Revenue per FA/Banker (in thousands)	$	715	$	726		$	729	$	796		$	837	$	878		21%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management	$	369	$	363		$	374	$	399		$	418	$	509		40%
Total Client Assets	$	1,347	$	1,321		$	1,362	$	1,438		$	1,493	$	1,788		35%
Net Client Asset Flows	$	3	$	(4	)	$	3	$	12		$	6	$	—		100%
Average Deposits and Other Customer Liability Balances	$	99	$	100		$	106	$	110		$	113	$	113		13%
Average Loans	$	40	$	42		$	43	$	44		$	46	$	51		21%
U.S.:
Total Revenues, Net of Interest Expense	$	2,154	$	2,149		$	2,153	$	2,337		$	2,385	$	2,439		13%	$	4,303	$	4,824	12%
Total Operating Expenses		1,805		1,706			1,649		1,794			1,797		1,914		12%		3,511		3,711	6%
Total Provision for Loan Losses		5		5			9		(2	)		11		(4	)	NM		10		7	(30)%
Income Before Taxes and Minority Interest		344		438			495		545			577		529		21%		782		1,106	41%
Income Taxes		116		148			153		195			216		194		31%		264		410	55%
Minority Interest, Net of Tax		—		—			—		—			—		—		—		—		—	—
Net Income	$	228	$	290		$	342	$	350		$	361	$	335		16%	$	518	$	696	34%
International:
Total Revenues, Net of Interest Expense	$	329	$	343		$	333	$	379		$	433	$	758		NM	$	672	$	1,191	77%
Total Operating Expenses		250		255			245		302			305		541		NM		505		846	68%
Total Provision for Loan Losses		—		3			7		(3	)		6		16		NM		3		22	NM
Income Before Taxes and Minority Interest		79		85			81		80			122		201		NM		164		323	97%
Income Taxes		20		28			24		19			35		5		(82)%		48		40	(17)%
Minority Interest, Net of Tax		—		—			—		—			—		17		—		—		17	—
Net Income	$	59	$	57		$	57	$	61		$	87	$	179		NM	$	116	$	266	NM

NM

Not meaningful

Reclassified to conform to the current period's presentation.

28

GLOBAL WEALTH MANAGEMENT
SMITH BARNEY(1)
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Record revenues were driven by a 21% increase in fee-based and net interest revenues, reflecting improved net interest margins and a continued shift toward offering fee-based advisory products and services. Transactional revenues increased 48%, as a higher volume of new securities offerings drove increased customer trading. Revenues also reflect increased ownership of Nikko Cordial Corporation in Japan.



•

Assets under fee-based management increased 43% to $448 billion, primarily driven by positive market action, acquisitions, and net client asset flows.



•

Expenses increased 27%, primarily driven by increased customer activity and the impact of acquisitions.



•

Net income increased 35%, driven by increased business volumes and the impact of acquisitions.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues:
Fee-Based and Net Interest Revenue			$	1,200		$	1,238		$	1,305		$	1,386		$	1,407		$	1,501		21%	$	2,438		$	2,908		19%
Commissions and Other Transactional Revenue				787			752			689			803			839			1,110		48%		1,539			1,949		27%
Total Revenues, Net of Interest Expense				1,987			1,990			1,994			2,189			2,246			2,611		31%		3,977			4,857		22%
Total Operating Expenses				1,720			1,624			1,565			1,710			1,724			2,063		27%		3,344			3,787		13%
Provision for Loan Losses				1			(1	)		(1	)		1			—			1		—		—			1		—
Income Before Taxes and Minority Interest				266			367			430			478			522			547		49%		633			1,069		69%
Income Taxes				98			129			136			173			198			209		62%		227			407		79%
Minority Interest, Net of Tax				—			—			—			—			—			17		—		—			17		—
Net Income			$	168		$	238		$	294		$	305		$	324		$	321		35%	$	406		$	645		59%
Pretax Profit Margin				13	%		18	%		22	%		22	%		23	%		21	%			16	%		22	%
Average Risk Capital			$	1,457		$	1,422		$	1,436		$	1,647		$	1,743		$	1,725		21%	$	1,440		$	1,734		20%
Return on Risk Capital				47	%		67	%		81	%		73	%		75	%		75	%			57	%		75	%
Return on Invested Capital				24	%		34	%		41	%		39	%		39	%		23	%			29	%		29	%
Financial Advisors				13,321			13,177			13,076			13,143			13,009			14,998		14%
Annualized Revenue per FA (000)			$	597		$	600		$	606		$	667		$	697		$	748		25%
Branch offices				635			635			635			634			638			805		27%
Revenues:
	Net Interest Revenue		$	209		$	203		$	247		$	306		$	285		$	271		33%	$	412		$	556		35%
	Non-Interest Revenue			1,778			1,787			1,747			1,883			1,961			2,340		31%		3,565			4,301		21%
		Total	$	1,987		$	1,990		$	1,994		$	2,189		$	2,246		$	2,611		31%	$	3,977		$	4,857		22%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management(2)			$	319		$	313		$	322		$	343		$	362		$	448		43%
Total Client Assets			$	1,167		$	1,142		$	1,173		$	1,230		$	1,277		$	1,562		37%
Net Client Asset Flows			$	3		$	(5	)	$	2		$	9		$	7		$	(3	)	40%
Average Deposits and Other Customer Liability Balances			$	51		$	51		$	52		$	50		$	52		$	51		—

(1)

Smith Barney includes Smith Barney, Citigroup Wealth Advisors, Nikko, Quilter and the legacy Citicorp Investment Services business.

(2)

During the second quarter of 2007, Retail Distribution transferred approximately $47 billion of Client Assets and 686 Financial Advisors and 79 branches to Smith Barney related to the consolidation of Citicorp Investment Services into Smith Barney.

Reclassified to conform to the current period's presentation.

29

GLOBAL WEALTH MANAGEMENT
PRIVATE BANK
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenue growth was driven by a 32% increase in international revenues, reflecting strong growth in capital markets products in Asia. U.S. revenues declined 4% as increased business volumes were offset by net interest margin compression. Expense growth of 16% primarily reflected increased client activity, which led to higher compensation costs, including the net addition of 103 bankers since the second quarter of 2006.



•

Client business volumes increased 26%, including higher client assets under fee-based management, up 22%, and average loans, up 18%.



•

Net income, up 77%, included a $65 million APB 23 tax benefit (see Schedule A, page 9). Excluding the tax benefit, net income grew 17%.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)		Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue			$	251		$	241		$	233		$	232		$	244		$	255		6	%	$	492		$	499		1	%
Non-Interest Revenue				245			261			259			295			328			331		27	%		506			659		30	%
Total Revenues, Net of Interest Expense				496			502			492			527			572			586		17	%		998			1,158		16	%
Total Operating Expenses				335			337			329			386			378			392		16	%		672			770		15	%
Provision for Loan Losses				4			9			17			(6	)		17			11		22	%		13			28		NM
Income Before Taxes				157			156			146			147			177			183		17	%		313			360		15	%
Income Taxes				38			47			41			41			53			(10	)	NM			85			43		(49	)%
Net Income			$	119		$	109		$	105		$	106		$	124		$	193		77	%	$	228		$	317		39	%
Pretax Profit Margin				32	%		31	%		30	%		28	%		31	%		31	%				31	%		31	%
Average Risk Capital			$	1,082		$	944		$	928		$	1,036		$	1,136		$	1,153		22	%	$	1,013		$	1,145		13	%
Return on Risk Capital				45	%		46	%		45	%		41	%		44	%		67	%				45	%		56	%
Return on Invested Capital				42	%		42	%		41	%		38	%		40	%		61	%				42	%		51	%
Bankers				516			494			525			551			596			597		21	%
Annualized Revenue per Banker (in thousands)			$	3,898		$	3,976		$	3,863		$	3,918		$	4,047		$	3,940		(1	)%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management			$	50		$	50		$	52		$	56		$	56		$	61		22	%
Deposits and Other Customer Liability Balances				47			50			54			62			63			63		26	%
Other, Principally Custody Accounts				83			79			83			90			97			102		29	%
		Total Client Assets	$	180		$	179		$	189		$	208		$	216		$	226		26	%
	Loans and Unused Commitments			42			43			44			46			48			54		26	%
		Total Client Business Volumes	$	222		$	222		$	233		$	254		$	264		$	280		26	%
Net Client Asset Flows			$	—		$	1		$	1		$	3		$	(1	)	$	3		NM
Average Deposits and Other Customer Liability Balances			$	48		$	49		$	54		$	60		$	61		$	62		27	%
Average Loans			$	38		$	40		$	41		$	42		$	44		$	47		18	%
Revenues:
	U.S.		$	210		$	210		$	204		$	198		$	201		$	201		(4	)%	$	420		$	402		(4	)%
	International			286			292			288			329			371			385		32	%		578			756		31	%
		Total	$	496		$	502		$	492		$	527		$	572		$	586		17	%	$	998		$	1,158		16	%
Net Credit Loss Ratio				(0.04	)%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

30

ALTERNATIVE INVESTMENTS(1)
(In millions of dollars)

For your convenience, an excerpt from our 2007 second quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup's website at www.citigroup.com.

•

Revenue and net income growth was primarily driven by higher revenues from proprietary activities, up 87%. Revenue growth reflected both realized and mark-to-market gains across private equity, hedge fund, and other portfolios. Client capital under management increased 55%.

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	675		$	584		$	334		$	1,308		$	562		$	1,032		77%	$	1,259		$	1,594		27%
Total Operating Expenses				181			199			137			246			180			215		8%		380			395		4%
Provision for Loan Losses				—			(13	)		—			—			1			—		100%		(13	)		1		NM
Income Before Taxes and Minority Interest				494			398			197			1,062			381			817		NM		892			1,198		34%
Income Taxes				111			138			70			387			138			297		NM		249			435		75%
Minority Interest, Net of Tax				30			3			10			126			21			64		NM		33			85		NM
Net Income			$	353		$	257		$	117		$	549		$	222		$	456		77%	$	610		$	678		11%
Average Risk Capital (in billions)			$	4.5		$	4.0		$	4.0		$	4.1		$	4.1		$	4.0		—	$	4.3		$	4.1		(5)%
Return on Risk Capital				32	%		26	%		12	%		53	%		22	%		46	%			29	%		33	%
Return on Invested Capital				28	%		22	%		8	%		50	%		19	%		42	%			25	%		31	%
Total Revenues, Net of Interest Expense (by Business):
Client			$	91		$	97		$	97		$	178		$	126		$	122		26%	$	188		$	248		32%
Proprietary Investment Activities:
	Private Equity			213			516			56			958			361			711		38%		729			1,072		47%
	Hedge Funds			107			(43	)		1			146			47			119		NM		64			166		NM
	Other			264			14			180			26			28			80		NM		278			108		(61)%
Total Proprietary Investment Activities				584			487			237			1,130			436			910		87%		1,071			1,346		26%
		Total	$	675		$	584		$	334		$	1,308		$	562		$	1,032		77%	$	1,259		$	1,594		27%
Total Revenues, Net of Interest Expense (by Type):
Client			$	91		$	97		$	97		$	178		$	126		$	122		26%	$	188		$	248		32%
Proprietary Investment Activities:
	Fees/Dividends/Interest			49			49			58			293			35			42		(14)%		98			77		(21)%
	Realized & Unrealized Gains (including Public Mark-to-Market)			563			475			200			869			444			910		92%		1,038			1,354		30%
	Other			(28	)		(37	)		(21	)		(32	)		(43	)		(42	)	(14)%		(65	)		(85	)	(31)%
Total Proprietary Investment Activities				584			487			237			1,130			436			910		87%		1,071			1,346		26%
		Total	$	675		$	584		$	334		$	1,308		$	562		$	1,032		77%	$	1,259		$	1,594		27%
Capital Under Management (in billions):
Client			$	28.2		$	30.6		$	33.5		$	38.5		$	42.9		$	47.4		55%
Proprietary Investment Activities				11.1			11.3			10.2			10.7			10.8			11.8		4%
Capital Under Management			$	39.3		$	41.9		$	43.7		$	49.2		$	53.7		$	59.2		41%

(1)

Includes Citigroup Venture Capital activities and certain other corporate investments.

NM Not meaningful

Reclassified to conform to the current period's presentation.

31

CITIGROUP—RETURN ON CAPITAL(1)

			Average Risk Capital ($M)(2)						Return on Risk Capital						Return on Invested Capital
			Second Quarter 2006		First Quarter 2007		Second Quarter 2007		Second Quarter 2006		First Quarter 2007		Second Quarter 2007		Second Quarter 2006		First Quarter 2007		Second Quarter 2007
Global Consumer:
	U.S. Cards		$	5,591	$	5,452	$	5,265	63	%	67	%	55	%	26	%	28	%	23	%
	U.S. Retail Distribution			3,520		3,414		3,705	65	%	46	%	49	%	24	%	18	%	19	%
	U.S. Consumer Lending			3,451		6,256		6,618	55	%	23	%	27	%	30	%	16	%	18	%
	U.S. Commercial Business			2,235		2,684		2,633	25	%	18	%	23	%	12	%	10	%	12	%
		Total U.S. Consumer		14,797		17,806		18,221	56	%	40	%	39	%	24	%	20	%	19	%
	International Cards			2,202		2,537		2,927	60	%	62	%	48	%	29	%	26	%	22	%
	International Consumer Finance			1,042		1,187		1,156	67	%	9	%	(2	)%	20	%	3	%	(1	)%
	International Retail Banking			9,481		10,123		11,295	30	%	22	%	24	%	16	%	13	%	13	%
		Total International Consumer		12,725		13,847		15,378	38	%	28	%	26	%	19	%	14	%	14	%
	Other			—		—		—	—		—		—		—		—		—
		Total Global Consumer		27,522		31,653		33,599	46	%	34	%	32	%	21	%	17	%	16	%
Markets & Banking:
	Securities and Banking			20,173		22,701		25,912	28	%	39	%	33	%	21	%	30	%	26	%
	Transaction Services			1,582		1,442		1,643	86	%	126	%	125	%	50	%	67	%	70	%
	Other			—		—		—	—		—		—		—		—		—
		Total Markets & Banking		21,755		24,143		27,555	32	%	44	%	41	%	23	%	33	%	32	%
Global Wealth Management:
	Smith Barney			1,422		1,743		1,725	67	%	75	%	75	%	34	%	39	%	23	%
	Private Bank			944		1,136		1,153	46	%	44	%	67	%	42	%	40	%	61	%
		Total Global Wealth Management		2,366		2,879		2,878	59	%	63	%	72	%	36	%	40	%	30	%
Alternative Investments				4,043		4,086		4,034	26	%	22	%	46	%	22	%	19	%	42	%
Corporate / Other				219		3,236		3,533	NM		NM		NM		NM		NM		NM
Total Citigroup—Risk Capital (Continuing Operations)(2)(3)			$	55,905	$	65,997	$	71,599	38	%	31	%	35	%
Total Citigroup—Return on Invested Capital (Net Income)(2)(4)															19	%	17	%	20	%

(1)

Risk Capital is defined as the amount of capital needed to cover unexpected economic losses during extreme events. Return on Risk Capital 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. Management believes Return on Risk Capital is useful to make incremental investment decisions and serves as a key metric for organic growth initiatives. Return on Invested Capital is used for multi-year investment decisions and as a long term performance measure.

(2)

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.

(3)

On a Continuing Operations Basis.

(4)

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

NM

Not meaningful

Reclassified to conform to the current period's presentation.

32

AVERAGE BALANCES AND INTEREST RATES(1)(2)(3)(4)(5)

			Average Volumes						Interest						% Average Rate(4)
In millions of dollars			Second Quarter 2006		First Quarter 2007		Second Quarter 2007(5)		Second Quarter 2006		First Quarter 2007		Second Quarter 2007(5)		Second Quarter 2006	First Quarter 2007		Second Quarter 2007(5)
Assets:
	Deposits with Banks		$	38,951	$	45,306	$	55,580	$	517	$	709	$	792	5.32%	6.35	%	5.72	%
	Fed Funds Sold and Resale Agreements(6)			251,082		293,295		320,811		3,397		4,289		4,662	5.43%	5.93	%	5.83	%
	Trading Account Assets(7)			281,059		370,251		444,473		3,048		3,930		4,385	4.35%	4.30	%	3.96	%
	Investments(1)			197,900		284,261		281,342		2,255		3,540		3,577	4.57%	5.05	%	5.10	%
		Consumer Loans		476,645		514,383		541,617		10,905		11,491		12,284	9.18%	9.06	%	9.10	%
		Corporate Loans		148,684		164,788		183,620		2,738		3,444		3,969	7.39%	8.48	%	8.67	%
	Total Loans (net of Unearned Income)			625,329		679,171		725,237		13,643		14,935		16,253	8.75%	8.92	%	8.99	%
	Other Interest-Earning Assets			55,081		68,379		82,459		712		729		929	5.18%	4.32	%	4.52	%
Total Average Interest-Earning Assets(8)			$	1,449,402	$	1,740,663	$	1,909,902	$	23,572	$	28,132	$	30,598	6.52%	6.55	%	6.43	%
Liabilities:
	Deposits		$	574,055	$	648,279	$	686,985	$	5,204	$	6,558	$	6,939	3.64%	4.10	%	4.05	%
	Fed Funds Purchased and Repurchase Agreements(6)			284,754		366,373		386,005		4,319		5,483		5,912	6.08%	6.07	%	6.14	%
	Trading Account Liabilities(7)			74,867		87,659		121,088		281		307		380	1.51%	1.42	%	1.26	%
	Short-Term Borrowings			144,187		184,379		237,039		1,129		1,464		1,937	3.14%	3.22	%	3.28	%
	Long-Term Debt(9)			218,369		279,917		304,887		2,784		3,750		4,004	5.11%	5.43	%	5.27	%
Total Average Interest-Bearing Liabilities(8)			$	1,296,232	$	1,566,607	$	1,736,004	$	13,717	$	17,562	$	19,172	4.24%	4.55	%	4.43	%
Net Interest Revenue as a % of Average Interest-Earning Assets (NIM)(8)									$	9,855	$	10,570	$	11,426	2.73%	2.46	%	2.40	%
	2Q07 Increase (Decrease) From														(33)bps	(6	)bps

(1)

Interest Revenue excludes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $25 million for the 2006 second quarter, $15 million for the 2007 first quarter and $45 million for the 2007 second quarter.

(2)

Citigroup Average Balances and Interest Rates include both domestic and international operations.

(3)

Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.

(4)

Average Rate % is calculated as annualized interest over average volumes.

(5)

Preliminary

(6)

Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of FIN 41.

(7)

Interest expense on trading account liabilities of Markets and Banking is reported as a reduction of interest revenue. Interest revenue and interest expense on cash collateral positions are reported in trading account assets and trading account liabilities, respectively.

(8)

The 2007 second quarter includes Nikko Cordial from May 9, 2007 forward. Excluding Nikko Cordial, the average rate on Interest-Earning Assets and Interest-Bearing Liabilities would have been 6.56% and 4.51%, respectively. Excluding Nikko Cordial, Net Interest Revenue as a percent of Average Interest—Earning Assets (NIM) would have been 2.45% in the second quarter of 2007.

(9)

Excludes hybrid financial instruments and beneficial interests in consolidated VIEs that are classified as long-term debt as these obligations are accounted for at fair value with changes recorded in Principal Transactions.

Reclassified to conform to the current period's presentation.

33

CONSUMER LOAN DELINQUENCY AMOUNTS, NET CREDIT LOSSES AND RATIOS
(In millions of dollars, except loan amounts in billions)

			90 Days Or More Past Due (1)
														Net Credit Losses (1)
												EOP Loans 2Q07											Average Loans 2Q07
			2Q06			1Q07			2Q07					2Q06			1Q07			2Q07
PRODUCT VIEW:
U.S.:
	U.S. Cards		$	814		$	587		$	549		$	36.1	$	447		$	439		$	408		$	37.3
		Ratio		1.87	%		1.63	%		1.52	%				4.11	%		4.58	%		4.39	%
	U.S. Retail Distribution			717			847			830			52.0		288			335			360			50.5
		Ratio		1.62	%		1.75	%		1.60	%				2.65	%		2.85	%		2.86	%
	U.S. Consumer Lending			2,356			3,026			3,508			222.6		160			286			289			222.4
		Ratio		1.19	%		1.38	%		1.58	%				0.33	%		0.53	%		0.52	%
	U.S. Commercial Business			189			195			140			37.4		12			19			33			36.6
		Ratio		0.53	%		0.52	%		0.37	%				0.14	%		0.21	%		0.36	%
International:
	International Cards			643			736			950			40.9		333			384			397			37.7
		Ratio		2.40	%		2.29	%		2.32	%				5.12	%		4.99	%		4.22	%
	International Consumer Finance			519			592			612			25.2		323			430			437			25.3
		Ratio		2.16	%		2.34	%		2.43	%				5.44	%		6.98	%		6.93	%
	International Retail Banking			680			630			1,658			79.7		191			238			168			77.6
		Ratio		1.08	%		0.88	%		0.83	%				1.22	%		1.38	%		0.87	%
	Global Wealth Management			6			10			6			51.7		—			—			—			49.1
		Ratio		0.02	%		0.02	%		0.01	%				0.00	%		0.00	%		0.00	%
	Other Consumer Loans			—			—			—			3.0		—			1			—			2.8
On-Balance Sheet Loans(2)			$	5,924		$	6,623		$	7,253		$	548.6	$	1,754		$	2,132		$	2,092		$	539.3
	Ratio			1.22	%		1.28	%		1.32	%				1.48	%		1.69	%		1.56	%
Securitized Receivables (all in U.S. Cards)				1,421			1,528			1,469			101.1		969			1,150			1,157			97.5
Loans Held-for-Sale				—			47			36			2.9		—			—			—			3.3
Managed Loans(3)			$	7,345		$	8,198		$	8,758		$	652.6	$	2,723		$	3,282		$	3,249		$	640.1
	Ratio			1.26	%		1.33	%		1.34	%				1.92	%		2.17	%		2.04	%
REGIONAL VIEW:
	U.S.		$	4,083		$	4,663		$	5,032		$	382.0	$	908		$	1,080		$	1,091		$	378.8
		Ratio		1.17	%		1.26	%		1.32	%				1.05	%		1.18	%		1.15	%
	Mexico			548			507			571			18.1		115			182			133			17.8
		Ratio		3.76	%		3.00	%		3.15	%				3.16	%		4.47	%		3.00	%
	Europe, Middle East and Africa (EMEA)			508			582			719			59.2		292			317			288			55.4
		Ratio		1.29	%		1.27	%		1.21	%				2.97	%		2.89	%		2.08	%
	Japan			194			227			220			11.8		251			313			312			12.1
		Ratio		1.63	%		2.08	%		1.86	%				8.33	%		11.57	%		10.33	%
	Asia (excluding Japan)			491			432			438			67.6		147			164			186			65.9
		Ratio		0.87	%		0.68	%		0.65	%				1.06	%		1.06	%		1.13	%
	Latin America			100			212			273			9.9		41			76			82			9.3
		Ratio		1.85	%		2.69	%		2.76	%				3.34	%		4.36	%		3.55	%
On-Balance Sheet Loans(2)			$	5,924		$	6,623		$	7,253		$	548.6	$	1,754		$	2,132		$	2,092		$	539.3
	Ratio			1.22	%		1.28	%		1.32	%				1.48	%		1.69	%		1.56	%
Securitized Receivables (all in U.S. Cards)				1,421			1,528			1,469			101.1		969			1,150			1,157			97.5
Loans Held-for-Sale				—			47			36			2.9		—			—			—			3.3
Managed Loans(3)			$	7,345		$	8,198		$	8,758		$	652.6	$	2,723		$	3,282		$	3,249		$	640.1
	Ratio			1.26	%		1.33	%		1.34	%				1.92	%		2.17	%		2.04	%

(1)

The ratios of 90 days or more past due and net credit losses are calculated based on end-of-period and average loans, respectively, both net of unearned income.

(2)

Total Loans and Total Average Loans exclude certain interest and fees on credit cards of approximately $2 billion and $2 billion, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.

(3)

This table presents consumer credit information on a held basis and shows the impact of securitizations to reconcile to a managed basis. Only U.S. Cards from a product view and North America from a regional view are impacted. Managed basis reporting is a non-GAAP measure. Held basis reporting is the related GAAP measure. For a discussion of managed basis reporting see Note 2 to the Cards business on page 10.

Reclassified to conform to the current period's presentation.

34

ALLOWANCE FOR CREDIT LOSSES
TOTAL CITIGROUP
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period		$	9,782		$	9,505		$	9,144		$	8,979		$	8,940		$	9,510			$	9,782		$	8,940
Gross Credit (Losses)			(2,183	)		(2,354	)		(2,362	)		(2,642	)		(2,667	)		(2,662	)	(13)%		(4,537	)		(5,329	)	(17)%
Gross Recoveries			583			558			556			500			558			607		9%		1,141			1,165		2%
	Net Credit (Losses) / Recoveries (NCL's)		(1,600	)		(1,796	)		(1,806	)		(2,142	)		(2,109	)		(2,055	)	(14)%		(3,396	)		(4,164	)	(23)%
NCL's			1,600			1,796			1,806			2,142			2,109			2,055		14%		3,396			4,164		23%
Reserve Releases(1)			(301	)		(442	)		(336	)		(175	)		(67	)		(23	)	95%		(743	)		(90	)	88%
Reserve Builds(1)			150			185			322			153			646			545		NM		335			1,191		NM
Specific Reserve Releases / Utilizations			(81	)		(87	)		(15	)		(17	)		(28	)		(66	)	24%		(168	)		(94	)	44%
Specific Reserve Builds			6			11			13			21			43			—		(100)%		17			43		NM
Build(Release/Utilization)for Purchased Distressed Loan Portfolios			22			(27	)		3			(11	)		3			9		NM		(5	)		12		NM
Provision for Loan Losses			1,396			1,436			1,793			2,113			2,706			2,520		75%		2,832			5,226		85%
Other(2)			(73	)		(1	)		(152	)		(10	)		(27	)		406				(74	)		379		NM
Allowance for Loan Losses at End of Period(a)		$	9,505		$	9,144		$	8,979		$	8,940		$	9,510		$	10,381			$	9,144		$	10,381
Corporate Allowance for Unfunded Lending Commitments(3)(a)		$	900		$	1,050		$	1,100		$	1,100		$	1,100		$	1,100			$	1,050		$	1,100
Provision for Unfunded Lending Commitments		$	50		$	150		$	50		$	—		$	—		$	—			$	150		$	—
Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]		$	10,405		$	10,194		$	10,079		$	10,040		$	10,610		$	11,481			$	10,194		$	11,481
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Loans			1.72	%		1.60	%		1.54	%		1.48	%		1.53	%		1.55	%

(1)

Allowance for Credit Losses represents management's estimate of probable losses inherent in the portfolio. Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

(2)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

—

For the 2007 second quarter, reductions to the credit loss reserves of $70 million related to securitizations and $77 million related to transfers to loans held-for-sale, and the addition of $505 million related to the acquisition of Egg and Nikko.

—

For the 2007 first quarter, reductions to the credit loss reserves of $98 million related to securitizations and transfers to loans held-for-sale, and the addition of $75 million related to the acquisition of Grupo Financiero Uno.

—

For the 2006 fourth quarter, reductions to the credit loss reserves of $74 million related to securitizations.

—

For the 2006 third quarter, reductions to the credit loss reserves of $140 million related to securitizations and portfolio sales.

—

For the 2006 second quarter, reductions to the credit loss reserves of $125 million related to securitizations, and the addition of $84 million related to the acquisition of the Credicard portfolio.

—

For the 2006 first quarter, reductions to the credit loss reserves of $90 million related to securitizations.

(3)

Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

NM

Not meaningful

35

ALLOWANCE FOR CREDIT LOSSES
CONSUMER LOANS(1)
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period		$	6,922		$	6,647		$	6,311		$	6,087		$	6,006		$	6,338			$	6,922		$	6,006
Gross Credit (Losses)			(2,142	)		(2,235	)		(2,318	)		(2,532	)		(2,632	)		(2,610	)	(17)%		(4,377	)		(5,242	)	(20)%
Gross Recoveries			509			481			503			472			500			518		8%		990			1,018		3%
	Net Credit (Losses) / Recoveries (NCL's)		(1,633	)		(1,754	)		(1,815	)		(2,060	)		(2,132	)		(2,092	)	(19)%		(3,387	)		(4,224	)	(25)%
NCL's			1,633			1,754			1,815			2,060			2,132			2,092		19%		3,387			4,224		25%
Reserve Releases(2)			(301	)		(442	)		(336	)		(175	)		(67	)		(23	)	95%		(743	)		(90	)	88%
Reserve Builds(2)			150			110			247			153			346			545		NM		260			891		NM
Specific Reserve Releases / Utilizations			(36	)		(3	)		—			(11	)		(5	)		(31	)	NM		(39	)		(36	)	8%
Specific Reserve Builds			—			7			10			1			37			—		(100)%		7			37		NM
Build (Release / Utilization) for Purchased Distressed Loan Portfolios			—			—			—			—			—			—		—		—			—		—
	Provision for Loan Losses		1,446			1,426			1,736			2,028			2,443			2,583		81%		2,872			5,026		75%
Other(3)			(88	)		(8	)		(145	)		(49	)		21			377				(96	)		398		NM
Allowance for Loan Losses at End of Period		$	6,647		$	6,311		$	6,087		$	6,006		$	6,338		$	7,206			$	6,311		$	7,206
Net Consumer Credit (Losses) as a Percentage of Average Consumer Loans			1.46	%		1.48	%		1.49	%		1.64	%		1.69	%		1.56	%
Consumer Allowance for Credit Losses As a Percentage of Total Consumer Loans			1.44	%		1.31	%		1.25	%		1.17	%		1.22	%		1.31	%

(1)

Includes loans made to Global Wealth Management clients.

(2)

Allowance for Credit Losses represents management's estimate of probable losses inherent in the portfolio. Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

(3)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

—

For the 2007 second quarter, reductions to the credit loss reserves of $70 million related to securitizations and $77 million related to transfers to loans held-for-sale, and the addition of $505 million related to the acquisition of Egg and Nikko.

—

For the 2007 first quarter, reductions to the credit loss reserves of $98 million related to securitizations and transfers to loans held-for-sale, and the addition of $75 million related to the acquisition of Grupo Financiero Uno. The 2007 first quarter also includes $41million related to the reorganization of the KorAm loan portfolio.

—

For the 2006 fourth quarter, reductions to the credit loss reserves of $74 million related to securitizations.

—

For the 2006 third quarter, reductions to the credit loss reserves of $140 million related to securitizations and portfolio sales.

—

For the 2006 second quarter, reductions to the credit loss reserves of $125 million related to securitizations, and the addition of $84 million related to the acquisition of the Credicard portfolio.

—

For the 2006 first quarter, reductions to the credit loss reserves of $90 million related to securitizations.

NM

Not meaningful

36

ALLOWANCE FOR CREDIT LOSSES
CORPORATE LOANS(1)
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period		$	2,860		$	2,858		$	2,833		$	2,892		$	2,934		$	3,172			$	2,860		$	2,934
Gross Credit (Losses)			(41	)		(119	)		(44	)		(110	)		(35	)		(52	)	56%		(160	)		(87	)	46%
Gross Recoveries			74			77			53			28			58			89		16%		151			147		(3)%
	Net Credit (Losses) / Recoveries (NCL's)		33			(42	)		9			(82	)		23			37		NM		(9	)		60		NM
NCL's			(33	)		42			(9	)		82			(23	)		(37	)	NM		9			(60	)	NM
Reserve Releases(2)			—			—			—			—			—			—		—		—			—		—
Reserve Builds(2)			—			75			75			—			300			—		(100)%		75			300		NM
Specific Reserve Releases / Utilizations			(45	)		(84	)		(15	)		(6	)		(23	)		(35	)	58%		(129	)		(58	)	55%
Specific Reserve Builds			6			4			3			20			6			—		—		10			6		(40)%
Build (Release / Utilization)for Purchased Distressed Loan Portfolios			22			(27	)		3			(11	)		3			9		NM		(5	)		12		NM
	Provision for Loan Losses		(50	)		10			57			85			263			(63	)	NM		(40	)		200		NM
Other(3)			15			7			(7	)		39			(48	)		29				22			(19	)	NM
Allowance for Loan Losses at End of Period(a)		$	2,858		$	2,833		$	2,892		$	2,934		$	3,172		$	3,175			$	2,833		$	3,175
Net Corporate Credit (Losses) as a Percentage of Average Corporate Loans			NM			0.03	%		NM			0.05	%		NM			NM
Corporate Allowance for Credit Losses As a Percentage of Total Corporate Loans			2.00	%		1.81	%		1.73	%		1.76	%		1.82	%		1.66	%
Corporate Allowance for Unfunded Lending Commitments(4)(a)		$	900		$	1,050		$	1,100		$	1,100		$	1,100		$	1,100			$	1,050		$	1,100
Provision for Unfunded Lending Commitments		$	50		$	150		$	50		$	—		$	—		$	—			$	150		$	—
Total Corporate Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]		$	3,758		$	3,883		$	3,992		$	4,034		$	4,272		$	4,275			$	3,883		$	4,275
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Corporate Loans			2.62	%		2.48	%		2.39	%		2.43	%		2.45	%		2.23	%

(1)

Includes Loans related to the Alternative Investments and Corporate / Other segments.

(2)

Allowance for Credit Losses represents management's estimate of probable losses inherent in the portfolio. Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.

(3)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

—

The 2007 first quarter includes the reclassification to Consumer Loans of $41 million related to the reorganization of the KorAm loan portfolio.

—

The 2007 second quarter includes the acquisition of Grupo Cuscatlan of $18 million.

(4)

Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

NM

Not meaningful

37

CITIGROUP—COMPONENTS OF PROVISION FOR LOAN LOSSES
(In millions of dollars)

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			2Q07 vs. 2Q06 Increase/ (Decrease)	Six Months 2006			Six Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
	U.S. Cards
		Net Credit Losses	$	446		$	447		$	456		$	439		$	439		$	408		(9)%	$	893		$	847		(5)%
		Credit Reserve Build / (Release)		(72	)		(160	)		(122	)		(37	)		(44	)		224		NM		(232	)		180		NM
	U.S. Retail Distribution
		Net Credit Losses		279			288			282			337			335			360		25%		567			695		23%
		Credit Reserve Build / (Release)		(55	)		(31	)		(29	)		(59	)		(1	)		—		100%		(86	)		(1	)	99%
	U.S. Consumer Lending
		Net Credit Losses		176			160			193			258			286			289		81%		336			575		71%
		Credit Reserve Build / (Release)		(31	)		(75	)		(8	)		(13	)		217			39		NM		(106	)		256		NM
	U.S. Commercial Business
		Net Credit Losses		14			12			8			23			19			33		NM		26			52		100%
		Credit Reserve Build / (Release)		(38	)		(8	)		(38	)		(18	)		10			(18	)	NM		(46	)		(8	)	83%
	International Cards
		Net Credit Losses		218			333			347			402			384			397		19%		551			781		42%
		Credit Reserve Build / (Release)		94			26			59			87			22			201		NM		120			223		86%
	International Consumer Finance
		Net Credit Losses		319			323			389			380			430			437		35%		642			867		35%
		Credit Reserve Build / (Release)		(16	)		17			135			25			26			30		76%		1			56		NM
	International Retail Banking
		Net Credit Losses		184			191			141			221			238			168		(12)%		375			406		8%
		Credit Reserve Build / (Release)		(77	)		(105	)		(93	)		(12	)		64			5		NM		(182	)		69		NM
Global Wealth Management:
	Smith Barney
		Net Credit Losses		—			—			—			—			—			—		—		—			—		—
		Credit Reserve Build / (Release)		1			(1	)		(1	)		1			—			1		NM		—			1		—
	Private Bank
		Net Credit Losses		(4	)		—			—			—			—			—		—		(4	)		—		100%
		Credit Reserve Build / (Release)		8			9			17			(6	)		17			11		22%		17			28		65%
	Other			—			—			—			—			1			(2	)	—		—			(1	)	—
		Consumer Provision for Loan Losses		1,446			1,426			1,736			2,028			2,443			2,583		81%		2,872			5,026		75%
Markets & Banking:
	Securities and Banking
		Net Credit Losses		(34	)		37			(11	)		70			(28	)		(37	)	NM		3			(65	)	NM
		Credit Reserve Build / (Release)		(17	)		(18	)		61			3			286			(19	)	(6)%		(35	)		267		NM
	Transaction Services
		Net Credit Losses		1			18			2			6			5			1		(94)%		19			6		(68)%
		Credit Reserve Build / (Release)		—			(14	)		5			—			—			(7	)	50%		(14	)		(7	)	50%
	Other			—			—			—			—			—			—		—		—			—		—
Alternative Investments
		Net Credit Losses		—			(13	)		—			—			1			—		100%		(13	)		1		NM
Corporate / Other
		Net Credit Losses		—			—			—			6			(1	)		(1	)	—		—			(2	)	—
		Corporate Provision for Loan Losses		(50	)		10			57			85			263			(63	)	NM		(40	)		200		NM
Total Provision for Loan Losses			$	1,396		$	1,436		$	1,793		$	2,113		$	2,706		$	2,520		75%	$	2,832		$	5,226		85%

NM

Not meaningful

Reclassified to conform to the current period's presentation.

38

NON-PERFORMING ASSETS
(In millions of dollars)

			1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007
CASH-BASIS AND RENEGOTIATED LOANS
Corporate Cash—Basis Loans
Collateral Dependent (at lower of cost or collateral value)			$	—		$	—		$	15		$	19		$	19		$	11
Other				821			799			677			516			481			588
		Total Corporate Cash—Basis Loans(1)	$	821		$	799		$	692		$	535		$	500		$	599
Corporate Cash—Basis Loans
	JENA(2)		$	151		$	249		$	218		$	128		$	118		$	204
	Other International(3)			670			550			474			407			382			395
		Total Corporate Cash—Basis Loans(1)	$	821		$	799		$	692		$	535		$	500		$	599
Corporate Cash-Basis Loans as a % of Total Corporate Loans(1)				0.57	%		0.51	%		0.42	%		0.32	%		0.29	%		0.31	%
	Total Consumer Cash-Basis Loans		$	3,752		$	3,857		$	4,189		$	4,512		$	4,578		$	5,160
Renegotiated Loans (includes Corporate and Commercial Business Loans)			$	30		$	23		$	23		$	22		$	26		$	27
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS
Consumer			$	322		$	324		$	356		$	385		$	461		$	516
Markets & Banking				144			171			193			316			348			219
TOTAL OTHER REAL ESTATE OWNED(4)			$	466		$	495		$	549		$	701		$	809		$	735
OTHER REPOSSESSED ASSETS(5)			$	52		$	53		$	62		$	75		$	77		$	66

(1)

Excludes purchased distressed loans that are accreting interest. The carrying value of these loans was: $1,217 million at March 31, 2006, $1,171 million at June 30, 2006, $1,089 million at September 30, 2006, $949 million at December 31, 2006, $957 million at March 31, 2007 and $1,013 million at June 30, 2007.

(2)

JENA includes Japan, Western Europe and North America.

(3)

Other International includes Asia (excluding Japan), Mexico, Latin America, Central and Eastern Europe, the Middle East and Africa.

(4)

Represents repossessed real estate, carried at lower of cost or fair value, less costs to sell.

(5)

Primarily transportation equipment, carried at lower of cost or fair value, less costs to sell.

39