Citigroup (C) 8-K Citi Reports First Quarter Income of $5.01 Billion, Eps of $1.01

Exhibit 99.2

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT	1Q07
	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—Yields	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.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Income from Continuing Operations	$	5,555		$	5,262		$	5,303		$	5,129		$	5,012		(10)%
Discontinued Operations, After-tax	84			3			202			—			—			(100)%
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		(11)%
Diluted Earnings Per Share:
Income from Continuing Operations	$	1.11		$	1.05		$	1.06		$	1.03		$	1.01		(9)%
Net Income	$	1.12		$	1.05		$	1.10		$	1.03		$	1.01		(10)%
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
Preferred Dividends—Diluted	$	16		$	16		$	16		$	16		$	16
Common Shares Outstanding, at period end (in millions)	4,971.2			4,943.9			4,913.7			4,912.0			4,946.4
Tier 1 Capital Ratio	8.60		%	8.51		%	8.64		%	8.59		%	8.2		%*
Total Capital Ratio	11.80		%	11.68		%	11.88		%	11.65		%	11.4		%*
Leverage Ratio	5.22		%	5.19		%	5.24		%	5.16		%	4.7		%*
Total Assets, at period end (in billions)	$	1,586.2		$	1,626.6		$	1,746.2		$	1,884.3		$	2,020.8	*
Stockholders’ Equity, at period end (in billions)	$	114.4		$	115.4		$	117.9		$	119.8		$	122.1	*
Equity and Trust Securities, at period end (in billions)	$	120.6		$	122.0		$	125.9		$	129.4		$	131.5	*
Book Value Per Share, at period end	$	22.82		$	23.15		$	23.78		$	24.18		$	24.48	*
Return on Common Equity (Net Income)	20.3		%	18.6		%	18.9		%	17.2		%	17.1		%
Return on Risk Capital (Income from Continuing Operations)	41		%	38		%	37		%	35		%	31		%

* Preliminary

1

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

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Global Consumer:
U.S. Cards	$	926		$	878		$	1,085		$	1,001		$	897		(3)%
U.S. Retail Distribution	515			568			481			463			388			(25)%
U.S. Consumer Lending	437			470			521			484			359			(18)%
U.S. Commercial Business	126			138			151			146			121			(4)%
Total U.S. Consumer(1)	2,004			2,054			2,238			2,094			1,765			(12)%
International Cards	291			328			287			231			388			33%
International Consumer Finance	168			173			50			(351		)	25			(85)%
International Retail Banking	677			714			701			748			540			(20)%
Total International Consumer	1,136			1,215			1,038			628			953			(16)%
Other	(67		)	(92		)	(81		)	(111		)	(85		)	(27)%
Total Global Consumer	3,073			3,177			3,195			2,611			2,633			(14)%
Markets & Banking:
Securities and Banking	1,618			1,412			1,344			1,389			2,173			34%
Transaction Services	323			340			385			378			447			38%
Other	(12		)	(29		)	(8		)	(13		)	1			NM
Total Markets & Banking	1,929			1,723			1,721			1,754			2,621			36%
Global Wealth Management:
Smith Barney	168			238			294			305			324			93%
Private Bank	119			109			105			106			124			4%
Total Global Wealth Management	287			347			399			411			448			56%
Alternative Investments	353			257			117			549			222			(37)%
Corporate / Other(2)	(87		)	(242		)	(129		)	(196		)	(912		)	NM
Income From Continuing Operations	5,555			5,262			5,303			5,129			5,012			(10)%
Discontinued Operations(3)	84			3			202			—			—
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		(11)%

(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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
U.S. (1)
Global Consumer	$	1,937		$	1,962		$	2,157		$	1,983		$	1,680		(13	)%
Markets & Banking	515			747			540			407			999			94	%
Global Wealth Management	228			290			342			350			361			58	%
Total U.S.	2,680			2,999			3,039			2,740			3,040			13	%
Mexico
Global Consumer	358			375			395			477			372			4	%
Markets & Banking	78			88			95			85			114			46	%
Global Wealth Management	8			10			9			9			12			50	%
Total Mexico	444			473			499			571			498			12	%
Europe, Middle East and Africa (EMEA)
Global Consumer	185			215			213			112			83			(55	)%
Markets & Banking	635			342			489			545			694			9	%
Global Wealth Management	3			5			7			8			7			NM
Total EMEA	823			562			709			665			784			(5	)%
Japan
Global Consumer	188			178			79			(326		)	45			(76	)%
Markets & Banking	85			72			38			77			35			(59	)%
Global Wealth Management	—			—			—			—			—			—
Total Japan	273			250			117			(249		)	80			(71	)%
Asia (excluding Japan)
Global Consumer	347			359			328			332			383			10	%
Markets & Banking	414			336			391			510			561			36	%
Global Wealth Management	45			40			38			40			65			44	%
Total Asia	806			735			757			882			1,009			25	%
Latin America
Global Consumer	58			88			23			33			70			21	%
Markets & Banking	202			138			168			130			218			8	%
Global Wealth Management	3			2			3			4			3			—
Total Latin America	263			228			194			167			291			11	%
Alternative Investments	353			257			117			549			222			(37	)%
Corporate / Other	(87		)	(242		)	(129		)	(196		)	(912		)	NM
Income From Continuing Operations	5,555			5,262			5,303			5,129			5,012			(10	)%
Discontinued Operations	84			3			202			—			—
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		(11	)%
Total International	$	2,609		$	2,248		$	2,276		$	2,036		$	2,662		2	%

(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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			Decrease
Global Consumer:
U.S. Cards	$	3,234		$	3,251		$	3,452		$	3,571		$	3,294		2	%
U.S. Retail Distribution	2,296			2,499			2,382			2,407			2,426			6	%
U.S. Consumer Lending	1,260			1,307			1,481			1,471			1,551			23	%
U.S. Commercial Business	470			516			489			508			443			(6	)%
Total U.S. Consumer(1)	7,260			7,573			7,804			7,957			7,714			6	%
International Cards	1,280			1,510			1,519			1,650			1,739			36	%
International Consumer Finance	962			1,009			998			349			890			(7	)%
International Retail Banking	2,467			2,555			2,550			2,946			2,759			12	%
Total International Consumer	4,709			5,074			5,067			4,945			5,388			14	%
Other	(14		)	(19		)	(37		)	(20		)	4			NM
Total Global Consumer	11,955			12,628			12,834			12,882			13,106			10	%
Markets & Banking:
Securities and Banking	5,896			5,269			4,567			5,486			7,313			24	%
Transaction Services	1,382			1,495			1,500			1,594			1,645			19	%
Other	1			(3		)	—			—			(1		)	NM
Total Markets & Banking	7,279			6,761			6,067			7,080			8,957			23	%
Global Wealth Management:
Smith Barney	1,987			1,990			1,994			2,189			2,246			13	%
Private Bank	496			502			492			527			572			15	%
Total Global Wealth Management	2,483			2,492			2,486			2,716			2,818			13	%
Alternative Investments	675			584			334			1,308			562			(17	)%
Corporate / Other	(209		)	(283		)	(299		)	(158		)	16			NM
Total Net Revenues	$	22,183		$	22,182		$	21,422		$	23,828		$	25,459		15	%

(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)

															1Q07 vs.
	1Q			2Q			3Q			4Q			1Q		1Q06 Increase/
	2006			2006			2006			2006			2007		(Decrease)
U.S.(1)
Global Consumer	$	7,246		$	7,554		$	7,767		$	7,937		$	7,718	7	%
Markets & Banking	2,923			2,803			2,007			2,422			3,714		27	%
Global Wealth Management	2,154			2,149			2,153			2,337			2,385		11	%
Total U.S.	12,323			12,506			11,927			12,696			13,817		12	%
										��
Mexico
Global Consumer	1,149			1,192			1,238			1,612			1,377		20	%
Markets & Banking	186			199			197			199			227		22	%
Global Wealth Management	31			33			32			33			36		16	%
Total Mexico	1,366			1,424			1,467			1,844			1,640		20	%
Europe, Middle East and Africa (EMEA)
Global Consumer	1,270			1,360			1,353			1,404			1,446		14	%
Markets & Banking	2,296			2,043			2,166			2,252			2,827		23	%
Global Wealth Management	75			83			83			90			108		44	%
Total EMEA	3,641			3,486			3,602			3,746			4,381		20	%
Japan
Global Consumer	775			807			782			91			615		(21	)%
Markets & Banking	296			269			177			310			212		(28	)%
Global Wealth Management	—			—			—			—			—		—
Total Japan	1,071			1,076			959			401			827		(23	)%
Asia (excluding Japan)
Global Consumer	1,189			1,244			1,209			1,291			1,359		14	%
Markets & Banking	1,132			1,062			1,080			1,440			1,404		24	%
Global Wealth Management	180			181			171			206			234		30	%
Total Asia	2,501			2,487			2,460			2,937			2,997		20	%
Latin America
Global Consumer	326			471			485			547			591		81	%
Markets & Banking	446			385			440			457			573		28	%
Global Wealth Management	43			46			47			50			55		28	%
Total Latin America	815			902			972			1,054			1,219		50	%
Alternative Investments	675			584			334			1,308			562		(17	)%
Corporate / Other	(209		)	(283		)	(299		)	(158		)	16		NM
Total Net Revenues	$	22,183		$	22,182		$	21,422		$	23,828		$	25,459	15	%
Total International	$	9,394		$	9,375		$	9,460		$	9,982		$	11,064	18	%

(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.

5

CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)  

													1Q07 vs.
	1Q			2Q			3Q		4Q		1Q		1Q06 Increase/
	2006			2006			2006		2006		2007		(Decrease)
Revenues
Interest revenue	$	21,873		$	23,572		$	24,729	$	26,257	$	28,132	29	%
Interest expense	12,107			13,717			14,901		16,218		17,562		45	%
Net interest revenue	9,766			9,855			9,828		10,039		10,570		8	%
Insurance premiums	770			800			819		813		838		9	%
Commissions and fees	5,188			5,331			4,007		5,009		5,773		11	%
Principal transactions	2,117			1,703			1,927		1,961		2,997		42	%
Administrative and other fiduciary fees	1,705			1,707			1,670		1,852		1,949		14	%
Realized gains (losses) from sales of investments	379			302			304		806		473		25	%
Other revenue	2,258			2,484			2,867		3,348		2,859		27	%
Total non-interest revenues	12,417			12,327			11,594		13,789		14,889		20	%
Total revenues, net of interest expense	22,183			22,182			21,422		23,828		25,459		15	%
Provisions for Credit Losses and for Benefits and Claims
Policyholder benefits and claims	227			231			274		235		261		15	%
Provision for loan losses	1,396			1,436			1,793		2,113		2,706		94	%
Provision for unfunded lending commitments	50			150			50		—		—		(100	)%
Total provisions for credit losses and for benefits and claims	1,673			1,817			2,117		2,348		2,967		77	%
Operating Expenses
Compensation and benefits	8,263			7,374			6,718		7,922		8,699		5	%
Net occupancy expense	1,382			1,411			1,435		1,613		1,529		11	%
Technology / communication expense	886			934			948		994		979		10	%
Advertising and marketing expense	603			652			574		734		617		2	%
Restructuring-related items	—			—			—		—		1,377		—
Other operating	2,224			2,398			2,261		2,695		2,370		7	%
Total operating expenses	13,358			12,769			11,936		13,958		15,571		17	%
Income from Continuing Operations before Income Taxes and Minority Interest	7,152			7,596			7,369		7,522		6,921		(3	)%
Provision for income taxes	1,537			2,303			2,020		2,241		1,862		21	%
Minority interest, net of income taxes	60			31			46		152		47		(22	)%
Income from Continuing Operations	5,555			5,262			5,303		5,129		5,012		(10	)%
Discontinued Operations (1)
Income from Discontinued Operations	1			—			26		—		—
Gain on Sale	21			—			198		—		—
Provision for income taxes and minority interest, net of taxes	(62		)	(3		)	22		—		—
Income from Discontinued Operations, net	84			3			202		—		—
Net Income	$	5,639		$	5,265		$	5,505	$	5,129	$	5,012	(11	)%

(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, 2007
																vs.
	March 31,			June 30,			September 30,			December 31,			March 31,			December 31, 2006
	2006			2006			2006			2006			2007(1)			Inc (Decr)
Assets
Cash and due from banks (including segregated cash and other deposits)	$	21,411		$	24,311		$	22,543		$	26,514		$	24,421		(8	)%
Deposits with banks	33,220			35,868			33,939			42,522			44,906			6	%
Federal funds sold and securities borrowed or purchased under agreements to resell	239,552			234,390			262,627			282,817			303,925			7	%
Brokerage receivables	42,569			46,162			40,970			44,445			51,976			17	%
Trading account assets	328,135			327,890			351,149			393,925			460,065			17	%
Investments	193,970			194,953			251,748			273,591			286,567			5	%
Loans, net of unearned income
Consumer	462,068			480,772			488,673			512,921			519,105			1	%
Corporate	143,239			156,313			166,709			166,271			174,239			5	%
Loans, net of unearned income	605,307			637,085			655,382			679,192			693,344			2	%
Allowance for loan losses	(9,505		)	(9,144		)	(8,979		)	(8,940		)	(9,510		)	(6	)%
Total loans, net	595,802			627,941			646,403			670,252			683,834			2	%
Goodwill	32,933			32,910			33,169			33,415			34,380			3	%
Intangible assets	15,092			15,850			15,725			15,901			19,330			22	%
Other assets	83,517			86,276			87,975			100,936			111,369			10	%
Total assets	$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,773		7	%
Liabilities
Non-interest-bearing deposits in U.S. offices	$	37,885		$	38,018		$	36,358		$	38,615		$	39,296		2	%
Interest-bearing deposits in U.S. offices	176,032			177,385			183,467			195,002			198,840			2	%
Non-interest-bearing deposits in offices outside the U.S.	34,323			32,981			32,721			35,149			36,328			3	%
Interest-bearing deposits in offices outside the U.S.	379,118			397,421			416,732			443,275			464,057			5	%
Total deposits	627,358			645,805			669,278			712,041			738,521			4	%
Federal funds purchased and securities loaned or sold under agreements to repurchase	279,540			264,494			320,095			349,235			393,670			13	%
Brokerage payables	70,214			74,970			97,229			85,119			88,722			4	%
Trading account liabilities	144,888			142,983			138,876			145,887			173,902			19	%
Short-term borrowings	58,130			72,581			70,501			100,833			111,179			10	%
Long-term debt	227,165			239,557			260,089			288,494			310,768			8	%
Other liabilities(2)	64,488			70,733			72,315			82,926			81,928			(1	)%
Total liabilities	1,471,783			1,511,123			1,628,383			1,764,535			1,898,690			8	%
Stockholders’ equity
Preferred Stock	1,000			1,000			1,000			1,000			1,000			—
Common Stock	55			55			55			55			55			—
Additional paid-in capital	17,119			17,426			17,825			18,253			17,341			(5	)%
Retained earnings	120,703			123,497			126,544			129,267			131,395			2	%
Treasury stock	(21,753		)	(23,199		)	(24,737		)	(25,092		)	(23,833		)	5	%
Accumulated other comprehensive income (loss)	(2,706		)	(3,351		)	(2,822		)	(3,700		)	(3,875		)	(5	)%
Total stockholders’ equity	114,418			115,428			117,865			119,783			122,083			2	%
Total liabilities and stockholders’ equity	$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,773		7	%

(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 the first quarter of 2007.

Reclassified to conform to the current period’s presentation.

7

GLOBAL CONSUMER
Page 1
(In millions of dollars)

											1Q07 vs.
	1Q		2Q		3Q		4Q		1Q		1Q06 Increase/
	2006		2006		2006		2006		2007		(Decrease)
Global Consumer:
Net Interest Revenue	$	7,224	$	7,481	$	7,523	$	7,073	$	7,644	6	%
Non-Interest Revenue	4,731		5,147		5,311		5,809		5,462		15	%
Total Revenues, Net of Interest Expense	11,955		12,628		12,834		12,882		13,106		10	%
Total Operating Expenses	6,357		6,379		6,316		6,881		6,760		6	%
Provisions for Loan Losses and for Benefits and Claims	1,668		1,649		1,994		2,268		2,686		61	%
Income Before Taxes and Minority Interest	3,930		4,600		4,524		3,733		3,660		(7	)%
Income Taxes	847		1,400		1,312		1,107		1,017		20	%
Minority Interest, Net of Tax	10		23		17		15		10		—
Net Income	$	3,073	$	3,177	$	3,195	$	2,611	$	2,633	(14	)%
Key Indicators (in billions of dollars):
Average Managed Loans	$	509.0	$	526.2	$	537.9	$	552.7	$	566.0	11	%
Average Deposits	$	243.6	$	247.4	$	253.9	$	263.5	$	273.4	12	%
EOP Assets Under Management (AUMs)	$	199.2	$	197.2	$	203.8	$	219.6	$	222.2	12	%
Total Branches (actual number)	7,440		7,670		7,933		8,110		8,140		9	%

Reclassified to conform to the current period’s presentation.

8

GLOBAL CONSUMER
Page 2
(In millions of dollars)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
U.S.:
Net Interest Revenue	$	4,138		$	4,189		$	4,141		$	4,178		$	4,185		1%
Non-Interest Revenue	3,122			3,384			3,663			3,779			3,529			13%
Total Revenues, Net of Interest Expense	7,260			7,573			7,804			7,957			7,714			6%
Total Operating Expenses	3,569			3,551			3,426			3,603			3,629			2%
Provisions for Loan Losses and for Benefits and Claims	901			827			962			1,110			1,470			63%
Income Before Taxes and Minority Interest	2,790			3,195			3,416			3,244			2,615			(6)%
Income Taxes	777			1,121			1,162			1,137			842			8%
Minority Interest, Net of Tax	9			20			16			13			8			(11)%
Net Income	$	2,004		$	2,054		$	2,238		$	2,094		$	1,765		(12)%
Key Indicators (in billions of dollars):
Average Managed Loans	$	400.8		$	413.7		$	421.8		$	430.5		$	440.0		10%
Average Deposits	$	99.1		$	100.8		$	105.5		$	113.1		$	119.2		20%
EOP Assets Under Management (AUMs)	$	75.0		$	74.4		$	76.1		$	81.4		$	83.3		11%
Total Branches (actual number)	3,205			3,253			3,353			3,441			3,488			9%
International:
Net Interest Revenue	$	3,133		$	3,343		$	3,445		$	2,945		$	3,489		11%
Non-Interest Revenue	1,576			1,731			1,622			2,000			1,899			20%
Total Revenues, Net of Interest Expense	4,709			5,074			5,067			4,945			5,388			14%
Total Operating Expenses	2,621			2,701			2,769			3,110			2,976			14%
Provisions for Loan Losses and for Benefits and Claims	767			822			1,032			1,158			1,216			59%
Income Before Taxes and Minority Interest	1,321			1,551			1,266			677			1,196			(9)%
Income Taxes	184			333			227			47			241			31%
Minority Interest, Net of Tax	1			3			1			2			2			100%
Net Income	$	1,136		$	1,215		$	1,038		$	628		$	953		(16)%
Key Indicators (in billions of dollars):
Average Loans	$	108.2		$	112.5		$	116.1		$	122.2		$	126.0		16%
Average Deposits	$	144.5		$	146.6		$	148.4		$	150.4		$	154.2		7%
EOP Assets Under Management (AUMs)	$	124.2		$	122.8		$	127.7		$	138.2		$	138.9		12%
Total Branches (actual number)	4,235			4,417			4,580			4,669			4,652			10%
Other Consumer:
Net Interest Revenue	$	(47	)	$	(51	)	$	(63	)	$	(50	)	$	(30	)	36%
Non-Interest Revenue	33			32			26			30			34			3%
Total Revenues, Net of Interest Expense	(14		)	(19		)	(37		)	(20		)	4			NM
Total Operating Expenses	167			127			121			168			155			(7)%
Income Before Taxes	(181		)	(146		)	(158		)	(188		)	(151		)	17%
Income Taxes	(114		)	(54		)	(77		)	(77		)	(66		)	42%
Net Income	$	(67	)	$	(92	)	$	(81	)	$	(111	)	$	(85	)	(27)%

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 first 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 2%, driven by 11% growth in non-interest revenues, reflecting a higher level of securitized receivables and a $161 million pre-tax gain on the sale of MasterCard shares.  Net interest revenues declined 14%, primarily due to a transfer of higher margin receivables to securitization trusts and net interest margin compression.  Expenses decreased 3%.

·      Average managed loans grew 1%, driven by higher reward and private label card balances, including the addition of Federated card receivables. 

·      The managed net credit loss ratio increased 73 basis points to 4.63%, primarily reflecting an increase in bankruptcy filings over unusually low filing levels experienced in the prior year period.  

·      Net income declined due to the absence of an $89 million tax benefit recorded on the prior year period.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	1,193		$	1,167		$	1,140		$	1,126		$	1,031		(14)%
Non-Interest Revenue	2,041			2,084			2,312			2,445			2,263			11%
Total Revenues, Net of Interest Expense(1)	3,234			3,251			3,452			3,571			3,294			2%
Total Operating Expenses	1,532			1,554			1,447			1,535			1,485			(3)%
Net Credit Losses	446			447			456			439			439			(2)%
Credit Reserve Build / (Release)	(72		)	(160		)	(122		)	(37		)	(44		)	39%
Provision for Benefits & Claims	21			25			26			18			21			—
Provision for Loan Losses and for Benefits and Claims	395			312			360			420			416			5%
Income Before Taxes and Minority Interest	1,307			1,385			1,645			1,616			1,393			7%
Income Taxes and Minority Interest	381			507			560			615			496			30%
Net Income	$	926		$	878		$	1,085		$	1,001		$	897		(3)%
Average Assets (in billions of dollars)	$	63		$	63		$	64		$	62		$	63		—
Return on Assets	5.96		%	5.59		%	6.73		%	6.41		%	5.77		%
Net Credit Loss Ratio	4.27		%	4.11		%	4.22		%	4.30		%	4.58		%
Average Risk Capital	$	5,563		$	5,591		$	5,628		$	5,544		$	5,452		(2)%
Return on Risk Capital	68		%	63		%	76		%	72		%	67		%
Return on Invested Capital	28		%	26		%	32		%	30		%	28		%
KEY INDICATORS—Managed Basis(2) (in billions of dollars)
Return on Managed Assets	2.59		%	2.42		%	2.91		%	2.71		%	2.37		%
Average Managed Loans:
Securitized	$	94.7		$	94.5		$	97.3		$	99.1		$	97.3		3%
Held for Sale	0.3			—			0.5			0.2			3.0			NM
On Balance Sheet	42.3			43.6			42.8			40.5			38.9			(8)%
Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		1%
Bankcards	$	110.4		$	110.3		$	110.6		$	109.2		$	108.4		(2)%
Private Label	26.9			27.8			30.0			30.6			30.8			14%
Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		1%
End of Period Managed Loans:
Bankcards	$	109.7		$	111.3		$	110.3		$	111.6		$	107.3		(2)%
Private Label	26.2			29.4			30.5			32.4			30.2			15%
Total	$	135.9		$	140.7		$	140.8		$	144.0		$	137.5		1%

(1)The 2006 first quarter, 2006 second quarter, 2006 third quarter, 2006 fourth quarter and 2007 first quarter include releases of $90 million, $125 million, $109 million, $74 million and $98 million, respectively, from the allowance for credit losses related to loan receivables that were securitized 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)

																	1Q07 vs.
		1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
		2006			2006			2006			2006			2007			(Decrease)
SUPPLEMENTAL DISCLOSURE—Managed Basis (1):
EOP Open Accounts (in millions)		131.1			144.4			151.1			153.2			150.0			14%
Purchase Sales (in billions of dollars)(2)		$	68.4		$	77.9		$	77.0		$	81.0		$	72.4		6%
Managed Average Yield(3)	Bankcards	12.85		%	12.52		%	12.61		%	12.82		%	13.00		%
	Private Label	19.55		%	19.02		%	19.14		%	18.63		%	18.51		%
	Total	14.16		%	13.83		%	14.00		%	14.09		%	14.22		%
Managed Net Interest Revenue	Bankcards	$	2,471		$	2,292		$	2,332		$	2,364		$	2,248		(9)%
(in millions of dollars)(4)	Private Label	1,076			1,112			1,312			1,296			1,223			14%
	Total	$	3,547		$	3,404		$	3,644		$	3,660		$	3,471		(2)%
Managed Net Interest Revenue as a % of Average Managed Loans	Bankcards	9.09		%	8.33		%	8.37		%	8.59		%	8.40		%
	Private Label	16.22		%	16.04		%	17.35		%	16.80		%	16.10		%
	Total	10.48		%	9.89		%	10.28		%	10.39		%	10.11		%
Managed Net Credit Margin	Bankcards	$	2,146		$	1,942		$	1,904		$	1,994		$	1,878		(12)%
(in millions of dollars)(5)	Private Label	617			669			792			855			716			16%
	Total	$	2,763		$	2,611		$	2,696		$	2,849		$	2,594		(6)%
Managed Net Credit Margin as	Bankcards	7.88		%	7.06		%	6.83		%	7.24		%	7.03		%
a % of Average Managed Loans	Private Label	9.30		%	9.65		%	10.47		%	11.09		%	9.43		%
	Total	8.16		%	7.58		%	7.61		%	8.09		%	7.56		%
Managed Net Credit Losses	Bankcards	$	948		$	1,040		$	1,124		$	1,116		$	1,143		21%
(in millions of dollars)	Private Label	373			376			384			417			446			20%
	Total	$	1,321		$	1,416		$	1,508		$	1,533		$	1,589		20%
Coincident Managed Net	Bankcards	3.49		%	3.78		%	4.03		%	4.05		%	4.27		%
Credit Loss Ratio:	Private Label	5.62		%	5.42		%	5.08		%	5.41		%	5.87		%
	Total	3.90		%	4.11		%	4.26		%	4.35		%	4.63		%
12 Month Lagged Managed
Net Credit Loss Ratio		3.83		%	4.20		%	4.45		%	4.46		%	4.70		%
Managed Loans 90+ Days Past Due	Bankcards	$	1,536		$	1,530		$	1,580		$	1,619		$	1,520		(1)%
	Private Label	825			705			675			715			642			(22)%
	Total	$	2,361		$	2,235		$	2,255		$	2,334		$	2,162		(8)%
% of EOP Managed Loans	Bankcards	1.40		%	1.37		%	1.43		%	1.45		%	1.42		%
	Private Label	3.15		%	2.40		%	2.21		%	2.21		%	2.13		%
	Total	1.74		%	1.58		%	1.60		%	1.62		%	1.57		%

(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 first 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 6%, primarily driven by increased customer business volumes. Average deposits and loans grew 22% and 12%, respectively, and investment product sales grew 21%.  Deposits in Citibank e-savings reached $12.9 billion.  Volume growth was partially offset by lower net interest margins, reflecting increased e-savings and time deposit balances.

·      Expenses increased 8% on higher customer activity and investment in new branches.  During the quarter, 30 consumer finance branches and 21 new Citibank branches were opened.  Total branches increased 9% versus the prior year.

·      Net income declined due to higher credit costs and the absence of a $51 million tax benefit recorded in the prior year period.  Higher credit costs were primarily driven by increased loan volumes, and the absence of a loan loss reserve release recorded in the prior-year period.  The net credit loss ratio increased 19 basis points to 2.85%.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	1,451		$	1,497		$	1,521		$	1,511		$	1,529		5%
Non-Interest Revenue	845			1,002			861			896			897			6%
Total Revenues, Net of Interest Expense	2,296			2,499			2,382			2,407			2,426			6%
Total Operating Expenses	1,221			1,200			1,201			1,256			1,323			8%
Net Credit Losses	279			288			282			337			335			20%
Credit Reserve Build / (Release)	(55		)	(31		)	(29		)	(59		)	(1		)	98%
Provision for Benefits & Claims	163			168			193			162			188			15%
Provision for Loan Losses and for Benefits and Claims	387			425			446			440			522			35%
Income Before Taxes	688			874			735			711			581			(16)%
Income Taxes	173			306			254			248			193			12%
Net Income	$	515		$	568		$	481		$	463		$	388		(25)%
Average Assets (in billions of dollars)	$	66		$	69		$	70		$	72		$	74		12%
Return on Assets	3.16		%	3.30		%	2.73		%	2.55		%	2.13		%
Average Risk Capital	$	3,459		$	3,520		$	3,591		$	3,638		$	3,414		(1)%
Return on Risk Capital	60		%	65		%	53		%	50		%	46		%
Return on Invested Capital	23		%	24		%	21		%	20		%	18		%
Revenues by Business:
Citibank Branches	$	737		$	904		$	765		$	743		$	781		6%
CitiFinancial Branches	1,008			1,037			1,052			1,098			1,064			6%
Primerica Financial Services	551			558			565			566			581			5%
Total Revenues, Net of Interest Expense	$	2,296		$	2,499		$	2,382		$	2,407		$	2,426		6%
Net Income by Business:
Citibank Branches	$	100		$	165		$	79		$	36		$	42		(58)%
CitiFinancial Branches	265			264			270			278			215			(19)%
Primerica Financial Services	150			139			132			149			131			(13)%
Total Net Income	$	515		$	568		$	481		$	463		$	388		(25)%

Reclassified to conform to the current period’s presentation.

12

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

																	1Q07 vs.
		1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
		2006			2006			2006			2006			2007			(Decrease)
KEY INDICATORS:
Average Loans	Citibank Branches	$	9.4		$	9.8		$	10.5		$	10.9		$	11.3		20	%
(in billions of dollars)	CitiFinancial Branches	33.1			33.8			34.7			35.5			36.3			10	%
	Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		12	%
Average Loans by Product	Real estate secured loans	$	22.3		$	23.0		$	23.7		$	24.3		$	25.0		12	%
(in billions of dollars)	Personal loans	15.2			15.5			16.2			16.7			17.1			13	%
	Sales finance and other	5.0			5.1			5.3			5.4			5.5			10	%
	Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		12	%
Net Interest Revenue	Citibank Branches	$	501		$	505		$	508		$	479		$	517		3	%
(in millions of dollars)	CitiFinancial Branches	891			933			950			972			960			8	%
	Primerica Financial Services	59			59			63			60			52			(12	)%
	Total	$	1,451		$	1,497		$	1,521		$	1,5111		$	1,529		5	%
Net Credit Loss Ratio		2.66		%	2.65		%	2.48		%	2.88		%	2.85		%	2.85	%
Loans 90+ Days Past Due (in millions of dollars)		$	740		$	717		$	780		$	834		$	847		14	%
% of EOP Loans		1.73		%	1.62		%	1.69		%	1.73		%	1.75		%	1.75	%
Number of Branches:	Citibank	906			892			931			972			993			10	%
	CitiFinancial	2,299			2,361			2,422			2,469			2,495			9	%
	Total	3,205			3,253			3,353			3,441			3,488			9	%
Total EOP Accounts (in millions)	Citibank Branches	10.7			10.9			11.1			11.4			12.2			14	%
	CitiFinancial Branches	5.3			5.4			5.5			5.6			5.5			4	%
	Primerica Financial Services	4.9			4.9			5.0			4.8			5.0			2	%
	Total	20.9			21.2			21.6			21.8			22.7			9	%
Citibank Branches - Average Balances—(in billions of dollars)
Checking, Savings & Money Market Deposits		$	64.1		$	64.1		$	64.7		$	66.2		$	72.3		13	%
Time Deposits, CDs and Other		16.2			17.9			22.5			27.1			25.9			60	%
Total Deposits(1)		$	80.3		$	82.0		$	87.2		$	93.3		$	98.2		22	%
Checking Accounts (in millions)		3.6			3.6			3.8			3.9			3.9			8	%
EOP Investment AUMs (in billions of dollars)		$	43.8		$	43.1		$	43.6		$	47.0		$	48.4		11	%
Total Investment Product Sales (in billions of dollars)		$	3.9		$	4.1		$	3.7		$	3.8		$	4.7		21	%
Primerica Financial Services:
Life Insurance in Force (in billions of dollars)		$	583.9		$	596.4		$	602.8		$	605.5		$	614.0		5	%
Loan Volumes (in millions of dollars)		$	1,087.0		$	1,104.0		$	917.0		$	1,026.2		$	964.2		(11	)%
Mutual Fund Sales at NAV (in millions of dollars)		$	971		$	951		$	824		$	867		$	1,039		7	%
Variable Annuity Net Written Premiums & Deposits (in millions of dollars)		$	388		$	362		$	345		$	346		$	452		16	%
Investment AUMs (EOP) (in billions of dollars)		$	31.2		$	31.3		$	32.5		$	34.4		$	34.9		12	%

(1)  The Smith Barney Bank Deposit Program deposits are disclosed within Smith Barney in the Global Wealth Management segment.

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 first 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, and higher gains on sales of securities.  Net interest revenues increased 12%, as growth in average loans, up 16%, offset lower net interest margins.  ·      Higher credit costs reflected increased net credit losses in second mortgages, and an increase in loan loss reserves due to portfolio growth, seasoning, and increased delinquencies in second mortgages.  The net credit loss ratio in real estate lending increased 14 basis points to 0.33%.  ·      Net income declined 18% due to higher credit costs and the absence of a $31 million tax benefit recorded in the prior-year period.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	1,207		$	1,214		$	1,185		$	1,235		$	1,350		12	%
Non-Interest Revenue	53			93			296			236			201			NM
Total Revenues, Net of Interest Expense	1,260			1,307			1,481			1,471			1,551			23	%
Total Operating Expenses	453			444			450			466			491			8	%
Net Credit Losses	176			160			193			258			286			63	%
Credit Reserve Build / (Release)	(31		)	(75		)	(8		)	(13		)	217			NM
Provision for Benefits & Claims	(2		)	1			1			—			—			100	%
Provision for Loan Losses and for Benefits and Claims	143			86			186			245			503			NM
Income Before Taxes and Minority Interest	664			777			845			760			557			(16	)%
Income Taxes	218			287			308			263			190			(13	)%
Minority Interest, Net of Tax	9			20			16			13			8			(11	)%
Net Income	$	437		$	470		$	521		$	484		$	359		(18	)%
Average Assets (in billions of dollars)	$	209		$	221		$	244		$	291		$	313		50	%
Return on Assets	0.85		%	0.85		%	0.85		%	0.66		%	0.47		%
Average Risk Capital	$	3,732		$	3,451		$	3,770		$	4,766		$	6,256		66	%
Return on Risk Capital	47		%	55		%	55		%	40		%	23		%
Return on Invested Capital	27		%	30		%	31		%	25		%	16		%
Revenues by Business:
Real Estate Lending	$	843		$	793		$	1,000		$	984		$	1,090		29	%
Student Loans	117			202			163			150			112			(4	)%
Auto	300			312			318			337			349			16	%
Total Revenues, Net of Interest Expense	$	1,260		$	1,307		$	1,481		$	1,471		$	1,551		23	%
Net Income by Business:
Real Estate Lending	$	328		$	297		$	389		$	387		$	297		(9	)%
Student Loans	38			75			58			49			29			(24	)%
Auto	71			98			74			48			33			(54	)%
Total Net Income	$	437		$	470		$	521		$	484		$	359		(18	)%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

14

GLOBAL CONSUMER
U.S.
CONSUMER LENDING—Page 2

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
KEY INDICATORS:
Real Estate Lending—Balances (in billions of dollars):
Average Loans	$	149.6		$	159.1		$	163.5		$	171.1		$	177.5		19%
Originations	$	32.4		$	38.6		$	35.8		$	35.3		$	39.6		22%
Third Party Mortgage Servicing Portfolio (EOP)	$	307.4		$	324.9		$	353.2		$	357.8		$	580.2		89%
Net Servicing & Gain/(Loss) on Sale—(in millions of dollars)	$	10.5		$	(11.7	)	$	74.4		$	27.1		$	51.9		NM
Net Interest Revenue—(in millions of dollars)	$	812		$	804		$	788		$	825		$	930		15%
NIR as a % of Average Loans (excluding NIR for MBS & Warehouse Loans)	2.13		%	1.95		%	1.80		%	1.72		%	1.89		%
Net Credit Loss Ratio	0.19		%	0.19		%	0.19		%	0.23		%	0.33		%
Loans 90+Days Past Due—(in millions of dollars)	$	1,605		$	1,524		$	1,692		$	1,930		$	2,025		26%
% of EOP Loans	1.03		%	0.94		%	1.02		%	1.11		%	1.13		%
Student Loans—Balances (in billions of dollars):
Average Loans	$	24.7		$	24.7		$	23.2		$	21.9		$	22.5		(9)%
Originations	$	2.9		$	1.9		$	4.1		$	2.1		$	2.8		(3)%
Net Interest Revenue—(in millions of dollars)	$	104		$	106		$	88		$	83		$	85		(18)%
NIR as a % of Average Loans	1.71		%	1.72		%	1.50		%	1.50		%	1.53		%
Net Credit Loss Ratio	0.03		%	0.08		%	0.10		%	0.09		%	0.07		%
Loans 90+ Days Past Due—(in millions of dollars)	$	729		$	747		$	726		$	775		$	879		21%
% of EOP Loans	2.95		%	3.26		%	3.34		%	3.56		%	4.19		%
Auto—(in billions of dollars):
Average Loans	$	12.8		$	13.5		$	14.3		$	15.5		$	16.6		30%
Originations	$	2.0		$	2.0		$	2.4		$	2.7		$	3.1		55%
Net Interest Revenue—(in millions of dollars)	$	291		$	304		$	309		$	327		$	335		15%
NIR as a % of Average Loans	9.22		%	9.03		%	8.57		%	8.37		%	8.18		%
Net Credit Margin (NCM)—(in millions of dollars)	$	196		$	231		$	207		$	184		$	210		7%
NCM as a % of Average Loans	6.21		%	6.86		%	5.74		%	4.71		%	5.13		%
Net Credit Loss Ratio	3.29		%	2.44		%	3.08		%	3.92		%	3.40		%
Loans 90+ Days Past Due—(in millions of dollars)	$	77		$	85		$	138		$	165		$	122		58%
% of EOP Loans	0.58		%	0.61		%	0.93		%	1.02		%	0.69		%

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 first 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 8% and 12%, respectively, were offset by lower net interest margins and an increase in the mix of tax-advantaged revenues.

·Net income decreased 4%, as higher credit costs reflected increased net credit losses due to portfolio growth and the absence of a loan loss reserve release recorded in the prior-year period.  The tax benefit was due to an increase in tax-advantaged revenues. 

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	287		$	311		$	295		$	306		$	275		(4)%
Non-Interest Revenue	183			205			194			202			168			(8)%
Total Revenues, Net of Interest Expense	470			516			489			508			443			(6)%
Total Operating Expenses	363			353			328			346			330			(9)%
Net Credit Losses	14			12			8			23			19			36%
Credit Reserve Build / (Release)	(38		)	(8		)	(38		)	(18		)	10			NM
Total Provision for Loan Losses	(24		)	4			(30		)	5			29			NM
Income Before Taxes	131			159			191			157			84			(36)%
Income Taxes	5			21			40			11			(37		)	NM
Net Income	$	126		$	138		$	151		$	146		$	121		(4)%
Average Assets (in billions of dollars)	$	41		$	42		$	44		$	47		$	49		20%
Return on Assets	1.25		%	1.32		%	1.36		%	1.23		%	1.00		%
Average Risk Capital	$	2,315		$	2,235		$	2,323		$	2,452		$	2,684		16%
Return on Risk Capital	22		%	25		%	26		%	24		%	18		%
Return on Invested Capital	11		%	12		%	13		%	12		%	10		%
Total Revenues, Tax Equivalent Basis(1)	$	535		$	582		$	539		$	578		$	545		2%
KEY INDICATORS (in billions of dollars):
Total Deposits	$	18.8		$	18.8		$	18.3		$	19.8		$	21.0		12%
Commercial Real Estate	$	16.1		$	16.7		$	16.8		$	17.3		$	17.8		11%
Equipment Leasing	14.1			14.4			14.6			14.8			15.0			6%
Other	3.3			3.3			3.4			3.6			3.7			12%
Average Loans	$	33.5		$	34.4		$	34.8		$	35.7		$	36.5		9%
Average Loans—Liquidating	0.4			0.3			0.2		��	0.1			0.1			(75)%
Average Loans—Total	$	33.9		$	34.7		$	35.0		$	35.8		$	36.6		8%
Operating Leases	1.8			1.8			1.8			1.9			1.9			6%
Total Average Earning Assets	$	35.7		$	36.5		$	36.8		$	37.7		$	38.5		8%
Net Credit Loss Ratio	0.17		%	0.14		%	0.09		%	0.25		%	0.21		%
Loans 90+ Days Past Due—(in millions of dollars)	$	151		$	189		$	191		$	149		$	195		29%
% of EOP Loans	0.44		%	0.53		%	0.54		%	0.41		%	0.52		%

(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 first 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 and net income growth was driven by higher purchase sales and average loans, up 25% and 28%, respectively, and improved net interest margins.  Results include the integration of Credicard in Brazil and the acquisition of Grupo Financiero Uno (GFU) in Central America.  Revenues also include a $66 million pre-tax gain on the sale of MasterCard shares. 

·Expenses grew 33%, reflecting the integration of Credicard and GFU, continued investment in organic growth and higher customer activity.

·Credit costs increased 30%, primarily driven by target market expansion in Mexico and the integration of Credicard.  The net credit loss rate increased 135 basis points to 4.99%.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	773		$	912		$	964		$	1,068		$	1,121		45%
Non-Interest Revenue	507			598			555			582			618			22%
Total Revenues, Net of Interest Expense	1,280			1,510			1,519			1,650			1,739			36%
Total Operating Expenses	617			714			740			837			819			33%
Net Credit Losses	218			333			347			402			384			76%
Specific and Unallocated Credit Reserve Build / (Release)	94			26			59			87			22			(77)%
Total Provision for Loan Losses	312			359			406			489			406			30%
Income Before Taxes and Minority Interest	351			437			373			324			514			46%
Income Taxes and Minority Interest	60			109			86			93			126			NM
Net Income	$	291		$	328		$	287		$	231		$	388		33%
Average Assets (in billions of dollars)	$	28		$	30		$	32		$	34		$	38		36%
Return on Assets	4.21		%	4.39		%	3.56		%	2.70		%	4.14		%
Average Risk Capital	$	2,073		$	2,202		$	2,185		$	2,301		$	2,537		22%
Return on Risk Capital	57		%	60		%	52		%	40		%	62		%
Return on Invested Capital	27		%	29		%	24		%	18		%	26		%
Revenues by Region:
Mexico	$	405		$	443		$	465		$	513		$	530		31%
EMEA	294			327			328			353			375			28%
Japan	70			74			72			72			62			(11)%
Asia (excluding Japan)	415			428			402			429			446			7%
Latin America	96			238			252			283			326			NM
Total	$	1,280		$	1,510		$	1,519		$	1,650		$	1,739		36%
Net Income by Region:
Mexico	$	149		$	147		$	133		$	84		$	169		13%
EMEA	32			43			55			19			46			44%
Japan	21			13			13			16			9			(57)%
Asia (excluding Japan)	54			56			73			82			98			81%
Latin America	35			69			13			30			66			89%
Total	$	291		$	328		$	287		$	231		$	388		33%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

17

GLOBAL CONSUMER
INTERNATIONAL
CARDS—Page 2
(In millions of dollars)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
KEY INDICATORS (in billions of dollars)
Average Yield	18.61		%	19.03		%	19.20		%	19.52		%	19.58		%
Net Interest Revenue as a % of Average Loans	12.90		%	14.02		%	13.91		%	14.31		%	14.57		%
Net Credit Margin (in millions of dollars)(1)	$	1,062		$	1,177		$	1,172		$	1,248		$	1,355		28%
% of Average Loans	17.72		%	18.09		%	16.91		%	16.73		%	17.61		%
End of Period Loans	$	24.1		$	26.8		$	28.1		$	31.0		$	32.2		34%
EOP Open Accounts (in millions)	26.7			30.1			30.6			30.9			31.7			19%
Purchase Sales(2)	$	17.4		$	19.7		$	20.5		$	23.0		$	21.7		25%
Average Loans:
Mexico	$	5.5		$	5.6		$	6.0		$	6.6		$	6.8		24%
EMEA	6.1			6.5			6.7			7.4			7.8			28%
Japan	1.3			1.4			1.4			1.4			1.4			8%
Asia (excluding Japan)	10.4			10.7			10.9			11.5			11.9			14%
Latin America	1.0			1.9			2.5			2.7			3.3			NM
Total	$	24.3		$	26.1		$	27.5		$	29.6		$	31.2		28%
Coincident Net Credit Loss Ratio	3.64		%	5.12		%	5.01		%	5.39		%	4.99		%
12 Month Lagged Net Credit Loss Ratio	4.13		%	6.02		%	6.06		%	6.82		%	6.41		%
Loans 90+ Days Past Due (in millions of dollars)	$	535		$	643		$	723		$	709		$	736		38%
% of EOP Loans	2.22		%	2.40		%	2.57		%	2.29		%	2.29		%

(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 first 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 increased customer refunds and credit costs, reflecting 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 84 branches and 101 automated loan machines during the quarter.

·Outside of Japan, revenues increased 23%, driven by average loan growth of 25% and stable net interest margin.  Net income declined as revenue growth was offset by increased investment spending, including the opening of 29 new branches, and an increase in credit costs due to portfolio growth.  The net credit loss ratio decreased 1 basis point to 3.26%.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	921		$	971		$	962		$	295		$	838		(9)%
Non-Interest Revenue	41			38			36			54			52			27%
Total Revenues, Net of Interest Expense	962			1,009			998			349			890			(7)%
Total Operating Expenses	419			427			406			498			407			(3)%
Net Credit Losses	319			323			389			380			430			35%
Credit Reserve Build / (Release)	(16		)	17			135			25			26			NM
Provision for Benefits & Claims	1			—			(1		)	1			—			(100)%
Provision for Loan Losses and for Benefits and Claims	304			340			523			406			456			50%
Income Before Taxes (Benefits)	239			242			69			(555		)	27			(89)%
Income Taxes (Benefits)	71			69			19			(204		)	2			(97)%
Net Income (Loss)	$	168		$	173		$	50		$	(351	)	$	25		(85)%
Average Assets (in billions of dollars)	$	26		$	27		$	28		$	29		$	29		12%
Return on Assets	2.62		%	2.57		%	0.71		%	(4.80		)%	0.35		%
Average Risk Capital	$	1,165		$	1,042		$	1,093		$	1,156		$	1,183		2%
Return on Risk Capital	58		%	67		%	18		%	(120		)%	9		%
Return on Invested Capital	19		%	20		%	6		%	(30		)%	3		%
Revenues by Region:
Mexico	$	53		$	55		$	62		$	66		$	70		32%
EMEA	184			193			191			203			203			10%
Asia (excluding Japan)	98			108			120			136			140			43%
Latin America	36			38			38			43			43			19%
sub-total	371			394			411			448			456			23%
Japan	591			615			587			(99		)	434			(27)%
Total	$	962		$	1,009		$	998		$	349		$	890		(7)%
Net Income (Loss) by Region:
Mexico	$	10		$	11		$	12		$	8		$	10		—
EMEA	7			15			(13		)	(5		)	(3		)	NM
Asia (excluding Japan)	16			12			15			16			13			(19)%
Latin America	—			1			(1		)	(2		)	(4		)	—
sub-total	33			39			13			17			16			(52)%
Japan	135			134			37			(368		)	9			(93)%
Total	$	168		$	173		$	50		$	(351	)	$	25		(85)%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

19

GLOBAL CONSUMER
INTERNATIONAL
CONSUMER FINANCE—Page 2

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(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		12%
Personal loans	13.3			14.3			14.6			15.0			15.0			13%
Auto	0.3			0.3			0.2			0.2			0.1			(67)%
Sales finance and other	0.7			0.7			0.8			0.8			0.8			14%
Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		12%
Average Loans by Region (in billions of dollars):
Mexico	$	0.3		$	0.3		$	0.4		$	0.4		$	0.4		33%
EMEA	9.6			10.4			10.5			10.9			11.0			15%
Asia (excluding Japan)	2.3			2.6			2.9			3.4			3.8			65%
Latin America	0.6			0.6			0.7			0.7			0.8			33%
sub-total	12.8			13.9			14.5			15.4			16.0			25%
Japan	9.6			9.9			9.7			9.5			9.0			(6)%
Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		12%
Average Yield	19.06		%	18.88		%	18.49		%	7.82		%	17.08		%
Net Interest Revenue as a % of Average Loans	16.67		%	16.36		%	15.77		%	4.70		%	13.59		%
Net Credit Margin (NCM)—(in millions of dollars)	$	643		$	686		$	609		$	(31	)	$	460		(28)%
NCM as a % of Average Loans	11.64		%	11.56		%	9.98		%	(0.49		)%	7.46		%
Net Credit Loss Ratio	5.78		%	5.44		%	6.38		%	6.05		%	6.98		%
Net Credit Loss Ratio—Japan	9.12		%	9.74		%	11.26		%	11.15		%	13.56		%
Loans 90+ Days Past Due—(in millions of dollars)	$	437		$	519		$	575		$	608		$	592		35%
% of EOP Loans	1.93		%	2.16		%	2.37		%	2.43		%	2.34		%
Number of Sales Points:
Mexico Branches	288			312			349			394			419			45%
EMEA Branches	306			326			339			354			306			—
Asia (excluding Japan) Branches	489			547			582			641			640			31%
Latin America Branches	180			188			213			255			253			41%
sub-total	1,263			1,373			1,483			1,644			1,618			28%
Japan Branches	325			324			324			135			51			(84)%
Japan Automated Loan Machines (ALMs)	731			809			809			809			708			(3)%
Total Japan	1,056			1,133			1,133			944			759			(28)%
Total	2,319			2,506			2,616			2,588			2,377			3%

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 first 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 12%, driven by increased deposits and loans, up 7% and 13%, respectively, and 33% growth in investment product sales.  Loan growth was partially offset by net interest margin compression.  Loan balances grew at a double-digit pace in Asia, EMEA and Latin America.     

·Expense growth reflected increased business volumes and continued investment spending.  During the quarter, 19 new branches were opened. 

·Credit costs more than doubled due to an increase in loan loss reserves due to portfolio growth, the absence of loan loss reserve releases in the prior-year period, and a lower level of recoveries from portfolio sales versus the prior-year period.  The net credit loss ratio increased 17 basis points to 1.38%.

·Net income declined 20% reflecting higher credit costs, the absence of a $55 million tax benefit recorded in the prior-year period, and lower APB 23 tax benefits in Mexico.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	1,439		$	1,460		$	1,519		$	1,582		$	1,530		6%
Non-Interest Revenue	1,028			1,095			1,031			1,364			1,229			20%
Total Revenues, Net of Interest Expense	2,467			2,555			2,550			2,946			2,759			12%
Total Operating Expenses	1,585			1,560			1,623			1,775			1,750			10%
Net Credit Losses	184			191			141			221			238			29%
Credit Reserve Build / (Release)	(77		)	(105		)	(93		)	(12		)	64			NM
Provision for Benefits & Claims	44			37			55			54			52			18%
Provision for Loan Losses and for Benefits and Claims	151			123			103			263			354			NM
Income Before Taxes and Minority Interest	731			872			824			908			655			(10%)
Income Taxes and Minority Interest	54			158			123			160			115			NM
Net Income	$	677		$	714		$	701		$	748		$	540		(20)%
Average Assets (in billions of dollars)	$	119		$	120		$	127		$	131		$	132		11%
Return on Assets	2.31		%	2.39		%	2.19		%	2.27		%	1.66		%
Average Risk Capital	$	9,407		$	9,481		$	9,348		$	9,641		$	10,123		8%
Return on Risk Capital	29		%	30		%	30		%	31		%	22		%
Return on Invested Capital	15		%	16		%	15		%	17		%	13		%
Total Revenues, Net of Interest Expense:
Mexico	$	691		$	694		$	711		$	1,033		$	777		12%
EMEA	792			840			834			848			868			10%
Japan	114			118			123			118			119			4%
Asia (excluding Japan)	676			708			687			726			773			14%
Latin America	194			195			195			221			222			14%
Total	$	2,467		$	2,555		$	2,550		$	2,946		$	2,759		12%
Net Income (Loss) by Region:
Mexico	$	199		$	217		$	250		$	385		$	193		(3)%
EMEA	146			157			171			98			40			(73)%
Japan	32			31			29			26			27			(16)%
Asia (excluding Japan)	277			291			240			234			272			(2)%
Latin America	23			18			11			5			8			(65)%
Total	$	677		$	714		$	701		$	748		$	540		(20)%
KEY INDICATORS:
Net Credit Loss Ratio	1.21		%	1.22		%	0.87		%	1.29		%	1.38		%
Loans 90+ Days Past Due (in millions of dollars)	$	736		$	680		$	679		$	667		$	630		(14)%
% of EOP Loans	1.21		%	1.08		%	1.04		%	0.97		%	0.88		%
Branches by Region:
Mexico	1,404			1,441			1,452			1,510			1,520			8%
EMEA	636			663			682			711			717			13%
Japan	25			25			25			25			25			—
Asia (excluding Japan)	403			404			405			412			403			—
Latin America	179			187			209			232			318			78%
Total	2,647			2,720			2,773			2,890			2,983			13%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

21

GLOBAL CONSUMER INTERNATIONAL RETAIL BANKING—Page 2

											1Q07 vs.
	1Q		2Q		3Q		4Q		1Q		1Q06 Increase/
	2006		2006		2006		2006		2007		(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	1%
Time Deposits, CDs and Other	67.7		67.8		70.8		74.5		77.0		14%
Total Average Deposits	$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	7%
Investment Sales	$	17.1	$	18.2	$	16.0	$	17.7	$	22.7	33%
Investment AUMs (EOP)	$	90.1	$	90.0	$	95.2	$	101.1	$	112.6	25%
Other (primarily Retirement Services)	34.1		32.8		32.5		37.1		26.3		(23%)
Total AUMs	$	124.2	$	122.8	$	127.7	$	138.2	$	138.9	12%
Average Customer Deposits by Region (in billions of dollars):
Mexico	$	25.9	$	24.9	$	25.7	$	25.5	$	25.0	(3)%
EMEA	31.0		32.8		32.7		33.0		33.9		9%
Japan	20.8		21.1		20.9		21.0		20.9		—
Asia (excluding Japan)	59.6		60.6		61.5		62.9		65.7		10%
Latin America	7.2		7.2		7.6		8.0		8.7		21%
Total	$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	7%
Average Loans by Region (in billions of dollars):
Mexico	$	8.2	$	7.7	$	7.9	$	8.2	$	8.3	1%
EMEA	17.4		18.6		19.0		19.8		20.2		16%
Japan	0.7		0.8		0.6		0.6		0.6		(14)%
Asia (excluding Japan)	34.1		34.4		35.6		37.6		39.0		14%
Latin America	1.1		1.1		1.3		1.5		1.7		55%
Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	13%
Average Loans by Type (in billions of dollars):
Mortgage	$	23.3	$	23.2	$	24.2	$	25.5	$	25.8	11%
Auto	2.3		2.2		2.2		2.2		2.2		(4)%
Installment / Overdraft	23.2		24.4		25.4		26.9		27.9		20%
Commercial	8.1		8.2		8.5		9.0		9.9		22%
Other Retail	4.6		4.6		4.1		4.1		4.0		(13)%
Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	13%
EOP Accounts by Region (in millions):
Mexico	18.5		19.0		19.8		20.4		21.1		14%
EMEA	9.0		9.3		9.6		10.0		10.2		13%
Japan	2.0		2.1		2.1		2.1		2.1		5%
Asia (excluding Japan)	12.0		12.1		12.3		11.6		11.9		(1)%
Latin America	7.0		7.2		7.5		7.7		8.3		19%
Total	48.5		49.7		51.3		51.8		53.6		11%

Reclassified to conform to the current period’s presentation.

22

MARKETS & BANKING (In millions of dollars)

														1Q07 vs.
	1Q			2Q			3Q		4Q			1Q		1Q06 Increase/
	2006			2006			2006		2006			2007		(Decrease)
Markets & Banking:
Net Interest Revenue	$	2,234		$	2,147		$	1,913	$	2,198		$	2,452	10%
Non-Interest Revenue	5,045			4,614			4,154		4,882			6,505		29%
Total Revenues, Net of Interest Expense	7,279			6,761			6,067		7,080			8,957		23%
Total Operating Expenses	4,757			4,158			3,622		4,582			5,111		7%
Total Provision for Credit Losses	—			173			107		79			263		—
Income Before Taxes and Minority Interest	2,522			2,430			2,338		2,419			3,583		42%
Income Taxes	574			702			598		654			947		65%
Minority Interest, Net of Tax	19			5			19		11			15		(21)%
Net Income	$	1,929		$	1,723		$	1,721	$	1,754		$	2,621	36%
U.S.:
Net Interest Revenue	$	858		$	713		$	356	$	782		$	710	(17)%
Non-Interest Revenue	2,065			2,090			1,651		1,640			3,004		45%
Total Revenues, Net of Interest Expense	2,923			2,803			2,007		2,422			3,714		27%
Total Operating Expenses	2,251			1,621			1,218		1,916			2,219		(1)%
Total Provision for Credit Losses	52			137			55		16			65		25%
Income Before Taxes and Minority Interest	620			1,045			734		490			1,430		NM
Income Taxes	94			301			185		85			430		NM
Minority Interest, Net of Tax	11			(3		)	9		(2		)	1		(91)%
Net Income	$	515		$	747		$	540	$	407		$	999	94%
International:
Net Interest Revenue	$	1,376		$	1,434		$	1,557	$	1,416		$	1,742	27%
Non-Interest Revenue	2,980			2,524			2,503		3,242			3,501		17%
Total Revenues, Net of Interest Expense	4,356			3,958			4,060		4,658			5,243		20%
Total Operating Expenses	2,506			2,537			2,404		2,666			2,892		15%
Total Provision for Credit Losses	(52		)	36			52		63			198		NM
Income Before Taxes and Minority Interest	1,902			1,385			1,604		1,929			2,153		13%
Income Taxes	480			401			413		569			517		8%
Minority Interest, Net of Tax	8			8			10		13			14		75%
Net Income	$	1,414		$	976		$	1,181	$	1,347		$	1,622	15%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

23

MARKETS & BANKING INCOME STATEMENT (In millions of dollars)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Revenues:
Commissions and Fees	$	682		$	713		$	555		$	591		$	697		2%
Administration and Other Fiduciary Fees	756			797			780			797			865			14%
Investment Banking	1,078			1,153			1,020			1,366			1,680			56%
Principal Transactions	2,150			1,425			1,434			1,598			2,673			24%
Other	379			526			365			530			590			56%
Total Non-Interest Revenues	5,045			4,614			4,154			4,882			6,505			29%
Net Interest Revenue (including Dividends)	2,234			2,147			1,913			2,198			2,452			10%
Total Revenues, Net of Interest Expense	7,279			6,761			6,067			7,080			8,957			23%
Non-Interest Expenses:
Compensation and Benefits	3,178			2,550			2,045			2,752			3,426			8%
Other Operating and Administrative Expenses	1,579			1,608			1,577			1,830			1,685			7%
Total Non-Interest Expenses	4,757			4,158			3,622			4,582			5,111			7%
Provision for Loan Losses	(50		)	23			57			79			263			NM
Provision for Unfunded Lending Commitments	50			150			50			—			—			(100)%
Total Provision for Credit Losses	—			173			107			79			263			—
Income Before Taxes and Minority Interest	2,522			2,430			2,338			2,419			3,583			42%
Income Taxes	574			702			598			654			947			65%
Minority Interest, Net of Tax	19			5			19			11			15			(21)%
Net Income	$	1,929		$	1,723		$	1,721		$	1,754		$	2,621		36%
Pre-tax Profit Margin	34.6		%	35.9		%	38.5		%	34.2		%	40.0		%
Compensation and Benefits Expenses as a Percent of Net Revenues(1)	43.7		%	37.7		%	33.7		%	38.9		%	38.2		%
Non-Compensation Expenses as a Percent of Net Revenues	21.7		%	23.8		%	26.0		%	25.8		%	18.8		%

(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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Revenue Details:
Investment Banking:
Advisory and Other Fees	$	295		$	296		$	355		$	383		$	429		45%
Equity Underwriting	286			284			204			463			523			83%
Debt Underwriting	713			670			639			666			813			14%
Gross Investment Banking	1,294			1,250			1,198			1,512			1,765			36%
Revenue Allocated to the Global Wealth Management Segment:
Equity Underwriting	(42		)	(49		)	(59		)	(111		)	(136		)	NM
Debt Underwriting	(36		)	(51		)	(50		)	(58		)	(34		)	6%
Net Investment Banking	1,216			1,150			1,089			1,343			1,595			31%
Lending	411			569			481			526			561			36%
Equity Markets	1,179			945			868			900			1,483			26%
Fixed Income Markets	3,148			2,762			2,315			2,749			3,771			20%
Other Securities and Banking(1)	(58		)	(157		)	(186		)	(32		)	(97		)	(67)%
Total Securities and Banking Revenues(1)	5,896			5,269			4,567			5,486			7,313			24%
Transaction Services	1,382			1,495			1,500			1,594			1,645			19%
Other	1			(3		)	—			—			(1		)	NM
Total Markets & Banking Revenues	$	7,279		$	6,761		$	6,067		$	7,080		$	8,957		23%

(1)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.

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 first 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 20% to a record $3.8 billion, driven by improved results across all products, including interest rates and currencies, and credit and securitized products. ·      Equity markets revenues grew 26% to a record $1.5 billion on higher results in cash trading, derivatives, equity finance and prime brokerage.  ·      Gross investment banking revenues were a record $1.8 billion, reflecting record equity underwriting revenues, up 83%, and record advisory and other fees, up 45%.  Net investment banking revenues increased 31% to $1.6 billion. ·      Operating expenses increased 7% due to increased staffing and higher business volumes.  The rate of growth in expenses also reflects the absence of a $346 million pre-tax charge related to SFAS 123(R) in the prior-year period. ·      Credit costs increased due to a net charge of $283 million to increase loan loss reserves.  The increase in loan loss reserves was driven by portfolio growth, which includes higher commitments to leveraged transactions and an increase in average loan tenor. ·      Net income increased 34% to a record $2.2 billion.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	1,571		$	1,408		$	1,139		$	1,365		$	1,614		3%
Non-Interest Revenue	4,325			3,861			3,428			4,121			5,699			32%
Total Revenues, Net of Interest Expense	5,896			5,269			4,567			5,486			7,313			24%
Total Operating Expenses	3,803			3,154			2,655			3,524			4,059			7%
Provision for Loan Losses	(51		)	19			50			73			258			NM
Provision for Unfunded Lending Commitments	46			138			48			—			—			(100)%
Total Provision for Credit Losses	(5		)	157			98			73			258			NM
Income Before Taxes and Minority Interest	2,098			1,958			1,814			1,889			2,996			43%
Income Taxes	461			541			452			490			812			76%
Minority Interest, Net of Tax	19			5			18			10			11			(42)%
Net Income	$	1,618		$	1,412		$	1,344		$	1,389		$	2,173		34%
Average Risk Capital	$	19,123		$	20,173		$	20,450		$	20,817		$	22,701		19%
Return on Risk Capital	34		%	28		%	26		%	26		%	39		%
Return on Invested Capital	26		%	21		%	19		%	20		%	30		%
Investment Banking
Global Debt, Equity and Equity-related Underwriting :
Global Volume(1)	$	182,452		$	164,608		$	154,426		$	180,858		$	202,275		11%
Global Market Share	9.2		%	8.5		%	8.9		%	8.4		%	9.5		%
Rank	1			1			1			1			1
U.S. Volume(1)	$	112,927		$	118,417		$	101,593		$	102,835		$	136,206		21%
U.S. Market Share	10.3		%	10.3		%	10.0		%	9.1		%	11.9		%
Rank	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 first 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% to a record $1.6 billion, driven by higher customer volumes and stable net interest margins.  Liability balances grew 25% and assets under custody were up 22%.  ·      Operating expenses increased 9%, primarily driven by increased business volumes, and credit remained stable.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	663		$	739		$	774		$	833		$	838		26%
Non-Interest Revenue	719			756			726			761			807			12%
Total Revenues, Net of Interest Expense	1,382			1,495			1,500			1,594			1,645			19%
Total Operating Expenses	949			989			954			1,058			1,037			9%
Provision for Loan Losses	1			4			7			6			5			NM
Provision for Unfunded Lending Commitments	4			12			2			—			—			(100)%
Total Provision for Credit Losses	5			16			9			6			5			—
Income Before Taxes and Minority Interest	428			490			537			530			603			41%
Income Taxes and Minority Interest, Net of Tax	105			150			152			152			156			49%
Net Income	$	323		$	340		$	385		$	378		$	447		38%
Average Risk Capital	$	1,470		$	1,582		$	1,517		$	1,376		$	1,442		(2)%
Return on Risk Capital	89		%	86		%	101		%	109		%	126		%
Return on Invested Capital	50		%	50		%	57		%	59		%	67		%
Revenue Details:
Cash Management	$	792		$	856		$	894		$	963		$	981		24%
Securities Services	438			478			450			478			507			16%
Trade	152			161			156			153			157			3%
Total Revenues, Net of Interest Expense	$	1,382		$	1,495		$	1,500		$	1,594		$	1,645		19%
Average Deposits and Other Customer Liability Balances (in billions)	$	170		$	191		$	191		$	203		$	213		25%
Assets Under Custody (EOP in trillions)	$	8.8		$	9.3		$	9.6		$	10.4		$	10.7		22%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

27

GLOBAL WEALTH MANAGEMENT
(In millions of dollars)

													1Q07 vs.
	1Q		2Q			3Q		4Q			1Q		1Q06 Increase/
	2006		2006			2006		2006			2007		(Decrease)
Global Wealth Management:
Net Interest Revenue	$	460	$	444		$	480	$	538		$	529	15	%
Non-Interest Revenue	2,023		2,048			2,006		2,178			2,289		13	%
Total Revenues, Net of Interest Expense	2,483		2,492			2,486		2,716			2,818		13	%
Total Operating Expenses	2,055		1,961			1,894		2,096			2,102		2	%
Total Provision for Loan Losses	5		8			16		(5		)	17		NM
Income Before Taxes	423		523			576		625			699		65	%
Income Taxes	136		176			177		214			251		85	%
Net Income	$	287	$	347		$	399	$	411		$	448	56	%
Financial Advisors (FA) / Bankers	13,837		13,671			13,601		13,694			13,605		(2	)%
Annualized Revenue per FA / Banker (in thousands)	$	715	$	726		$	729	$	796		$	837	17	%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management	$	369	$	363		$	374	$	399		$	418	13	%
Total Client Assets	$	1,347	$	1,321		$	1,362	$	1,438		$	1,493	11	%
Net Client Asset Flows	$	3	$	(4	)	$	3	$	12		$	6	100	%
Average Deposits and Other Customer Liability Balances	$	99	$	100		$	106	$	110		$	113	14	%
Average Loans	$	40	$	42		$	43	$	44		$	46	15	%
U.S.:
Total Revenues, Net of Interest Expense	$	2,154	$	2,149		$	2,153	$	2,337		$	2,385	11	%
Total Operating Expenses	1,805		1,706			1,649		1,794			1,797		—
Total Provision for Loan Losses	5		5			9		(2		)	11		NM
Income Before Taxes	344		438			495		545			577		68	%
Income Taxes	116		148			153		195			216		86	%
Net Income	$	228	$	290		$	342	$	350		$	361	58	%
International:
Total Revenues, Net of Interest Expense	$	329	$	343		$	333	$	379		$	433	32	%
Total Operating Expenses	250		255			245		302			305		22	%
Total Provision for Loan Losses	—		3			7		(3		)	6		—
Income Before Taxes	79		85			81		80			122		54	%
Income Taxes	20		28			24		19			35		75	%
Net Income	$	59	$	57		$	57	$	61		$	87	47	%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

28

GLOBAL WEALTH MANAGEMENT SMITH BARNEY (In millions of dollars)
For your convenience, an excerpt from our 2007 first 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 17% 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 7%, as a higher volume of new securities offerings drove increased customer trading. 

·Assets under fee-based management increased 13% to $362 billion, driven by net client asset flows and positive market action.  Net client asset flows were $7 billion during the quarter.

·Net income increased 93%, driven by increased business volumes and the absence of a $129 million pre-tax charge related to SFAS 123(R) in the prior-year period. 

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Revenues:
Fee-Based and Net Interest Revenue	$	1,200		$	1,238		$	1,305		$	1,386		$	1,406		17	%
Commissions and Other Transactional Revenue	787			752			689			803			840			7	%
Total Revenues, Net of Interest Expense	1,987			1,990			1,994			2,189			2,246			13	%
Total Operating Expenses	1,720			1,624			1,565			1,710			1,724			—
Provision for Loan Losses	1			(1		)	(1		)	1			—			—
Income Before Taxes	266			367			430			478			522			96	%
Income Taxes	98			129			136			173			198			NM
Net Income	$	168		$	238		$	294		$	305		$	324		93	%
Pretax Profit Margin	13		%	18		%	22		%	22		%	23		%
Average Risk Capital	$	1,457		$	1,422		$	1,436		$	1,647		$	1,743		20	%
Return on Risk Capital	47		%	67		%	81		%	73		%	75		%
Return on Invested Capital	24		%	34		%	41		%	39		%	39		%
Financial Advisors	13,321			13,177			13,076			13,143			13,009			(2	)%
Annualized Revenue per FA (000)	$	597		$	600		$	606		$	667		$	697		17	%
Branch offices	635			635			635			634			638			—
Revenues:
Net Interest Revenue	$	209		$	203		$	247		$	306		$	285		36	%
Non-Interest Revenue	1,778			1,787			1,747			1,883			1,961			10	%
Total	$	1,987		$	1,990		$	1,994		$	2,189		$	2,246		13	%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management:
Consulting Group and Other Advisory Accounts	$	189		$	187		$	193		$	206		$	213		13	%
Financial Advisor Managed Accounts	130			126			129			137			149			15	%
Total	$	319		$	313		$	322		$	343		$	362		13	%
Total Client Assets	$	1,167		$	1,142		$	1,173		$	1,230		$	1,277		9	%
Net Client Asset Flows	$	3		$	(5	)	$	2		$	9		$	7		NM
Average Deposits and Other Customer LiabilityBalances	$	51		$	51		$	52		$	50		$	52		2	%

NM  Not meaningful

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 first 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 a 30% increase in international revenues, reflecting strong growth in capital markets products in Asia and EMEA.  Expense growth primarily reflected increased client activity, which led to higher compensation costs.

·Client business volumes increased 19%, including higher client assets under fee-based management, up 12%.  Average loans increased 16%.

·Net income increased slightly as revenue growth was partially offset by higher credit costs and the absence of a tax benefit recorded in the prior year period.  Higher credit costs reflected portfolio growth.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Net Interest Revenue	$	251		$	241		$	233		$	232		$	244		(3	)%
Non-Interest Revenue	245			261			259			295			328			34	%
Total Revenues, Net of Interest Expense	496			502			492			527			572			15	%
Total Operating Expenses	335			337			329			386			378			13	%
Provision for Loan Losses	4			9			17			(6		)	17			NM
Income Before Taxes	157			156			146			147			177			13	%
Income Taxes	38			47			41			41			53			39	%
Net Income	$	119		$	109		$	105		$	106		$	124		4	%
Pretax Profit Margin	32		%	31		%	30		%	28		%	31		%
Average Risk Capital	$	1,082		$	944		$	928		$	1,036		$	1,136		5	%
Return on Risk Capital	45		%	46		%	45		%	41		%	44		%
Return on Invested Capital	42		%	42		%	41		%	38		%	40		%
Bankers	516			494			525			551			596			16	%
Annualized Revenue per Banker (in thousands)	$	3,898		$	3,976		$	3,863		$	3,918		$	4,047		4	%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management	$	50		$	50		$	52		$	56		$	56		12	%
Deposits and Other Customer Liability Balances	47			50			54			62			63			34	%
Other, Principally Custody Accounts	83			79			83			90			97			17	%
Total Client Assets	$	180		$	179		$	189		$	208		$	216		20	%
Loans and Unused Commitments	42			43			44			46			48			14	%
Total Client Business Volumes	$	222		$	222		$	233		$	254		$	264		19	%
Net Client Asset Flows	$	—		$	1		$	1		$	3		$	(1	)	—
Average Deposits and Other Customer Liability Balances	$	48		$	49		$	54		$	60		$	61		27	%
Average Loans	$	38		$	40		$	41		$	42		$	44		16	%
Revenues:
U.S.	$	210		$	210		$	204		$	198		$	201		(4	)%
International	286			292			288			329			371			30	%
Total	$	496		$	502		$	492		$	527		$	572		15	%
Net Credit Loss Ratio	(0.04		%)	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 first 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 and net income declined as double-digit growth in client revenues and private equity results was more than offset by lower revenues from hedge funds, the absence of a gain on sale of The Travelers Companies shares and a $58 million tax benefit, both recorded in the prior-year period.  Client capital under management increased 52%.

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Total Revenues, Net of Interest Expense	$	675		$	584		$	334		$	1,308		$	562		(17	)%
Total Operating Expenses	181			199			137			246			180			(1	)%
Provision for Loan Losses	—			(13		)	—			—			1			—
Income Before Taxes and Minority Interest	494			398			197			1,062			381			(23	)%
Income Taxes	111			138			70			387			138			24	%
Minority Interest, Net of Tax	30			3			10			126			21			(30	)%
Net Income	$	353		$	257		$	117		$	549		$	222		(37	)%
Average Risk Capital (in billions)	$	4.5		$	4.0		$	4.0		$	4.1		$	4.1		(9	)%
Return on Risk Capital	32		%	26		%	12		%	53		%	22		%
Return on Invested Capital	28		%	22		%	8		%	50		%	19		%
Total Revenues, Net of Interest Expense (by Business):
Client	$	91		$	97		$	97		$	178		$	126		38	%
Proprietary Investment Activities:
Private Equity	213			516			56			958			361			69	%
Hedge Funds	107			(43		)	1			146			47			(56	)%
Other	264			14			180			26			28			(89	)%
Total Proprietary Investment Activities	584			487			237			1,130			436			(25	)%
Total	$	675		$	584		$	334		$	1,308		$	562		(17	)%
Total Revenues, Net of Interest Expense (by Type):
Client	$	91		$	97		$	97		$	178		$	126		38	%
Proprietary Investment Activities:
Fees / Dividends / Interest	49			49			58			293			35			(29	)%
Realized & Unrealized Gains (including Public Mark-to-Market)	563			475			200			869			444			(21	)%
Other	(28		)	(37		)	(21		)	(32		)	(43		)	(54	)%
Total Proprietary Investment Activities	584			487			237			1,130			436			(25	)%
Total	$	675		$	584		$	334		$	1,308		$	562		(17	)%
Capital Under Management (in billions):
Client	$	28.2		$	30.6		$	33.5		$	38.5		$	42.9		52	%
Proprietary Investment Activities	11.1			11.3			10.2			10.7			10.8			(3	)%
Capital Under Management	$	39.3		$	41.9		$	43.7		$	49.2		$	53.7		37	%

(1)Includes Citigroup Venture Capital activities and certain other corporate investments.

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
	First		Fourth			First		First		Fourth		First		First		Fourth		First
	Quarter		Quarter			Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
	2006		2006			2007		2006		2006		2007		2006		2006		2007
Global Consumer:
U.S. Cards	$	5,563	$	5,544		$	5,452	68	%	72	%	67	%	28	%	30	%	28	%
U.S. Retail Distribution	3,459		3,638			3,414		60	%	50	%	46	%	23	%	20	%	18	%
U.S. Consumer Lending	3,732		4,766			6,256		47	%	40	%	24	%	27	%	25	%	16	%
U.S. Commercial Business	2,315		2,452			2,684		22	%	24	%	18	%	11	%	12	%	10	%
Total U.S. Consumer	15,069		16,400			17,806		54	%	51	%	40	%	24	%	24	%	20	%
International Cards	2,073		2,301			2,537		57	%	40	%	62	%	27	%	18	%	26	%
International Consumer Finance	1,165		1,156			1,187		58	%	-120	%	9	%	19	%	(30	)%	3	%
International Retail Banking	9,407		9,641			10,123		29	%	31	%	22	%	15	%	17	%	13	%
Total International Consumer	12,645		13,098			13,847		36	%	19	%	28	%	18	%	10	%	14	%
Other	—		—			—		—		—		—		—		—		—
Total Global Consumer	27,714		29,498			31,536		45	%	35	%	34	%	21	%	17	%	17	%
Markets & Banking:
Securities and Banking	19,123		20,817			22,701		34	%	26	%	39	%	26	%	20	%	30	%
Transaction Services	1,470		1,376			1,442		89	%	109	%	126	%	50	%	59	%	67	%
Other	—		—			—		—		—		—		—		—		—
Total Markets & Banking	20,593		22,193			24,143		38	%	31	%	44	%	28	%	23	%	33	%
Global Wealth Management:
Smith Barney	1,457		1,647			1,743		47	%	73	%	75	%	24	%	39	%	39	%
Private Bank	1,082		1,036			1,136		45	%	41	%	44	%	42	%	38	%	41	%
Total Global Wealth Management	2,539		2,683			2,879		46	%	61	%	63	%	29	%	39	%	40	%
Alternative Investments	4,547		4,118			4,086		32	%	53	%	22	%	28	%	50	%	19	%
Corporate / Other	145		(42		)	3,236		NM		NM		NM		NM		NM		NM
Total Citigroup—Risk Capital (Continuing Operations)(2)(3)	$	55,538	$	58,450		$	65,997	41	%	35	%	31	%
Total Citigroup—Return on Invested Capital (Net Income)(2)(4)														20	%	17	%	17	%

(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 on-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.  See Notes 3 and 4 on page 2.

(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)

	Average Volumes						Interest						% Average Rate(4)
	First		Fourth		First		First		Fourth		First		First		Fourth		First
	Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
In millions of dollars	2006		2006		2007(5)		2006		2006		2007(5)		2006		2006		2007(5)
Assets:
Deposits with Banks	$	34,851	$	40,598	$	45,306	$	489	$	693	$	709	5.69	%	6.77	%	6.35	%
Fed Funds Sold and Resale Agreements(6)	241,036		265,817		293,295		3,205		3,884		4,289		5.39	%	5.80	%	5.93	%
Trading Account Assets(7)	265,749		327,374		370,251		2,700		3,368		3,930		4.12	%	4.08	%	4.30	%
Investments (1)	191,477		266,823		284,261		2,056		3,482		3,540		4.35	%	5.18	%	5.05	%
Consumer Loans(8)	458,391		500,478		514,383		10,352		10,854		11,491		9.16	%	8.60	%	9.06	%
Corporate Loans	139,142		163,657		164,788		2,466		3,317		3,444		7.19	%	8.04	%	8.48	%
Total Loans (net of Unearned Income)(8)	597,533		664,135		679,171		12,818		14,171		14,935		8.70	%	8.47	%	8.92	%
Other Interest-Earning Assets	59,208		58,881		68,379		605		659		729		4.14	%	4.44	%	4.32	%
Total Average Interest-Earning Assets(8)	$	1,389,854	$	1,623,628	$	1,740,663	$	21,873	$	26,257	$	28,132	6.38	%	6.42	%	6.55	%
Liabilities:
Deposits	$	545,099	$	626,979	$	648,279	$	4,505	$	6,177	$	6,557	3.35	%	3.91	%	4.10	%
Fed Funds Purchased and Repurchase Agreements(6)	273,233		323,579		366,373		3,899		4,834		5,483		5.79	%	5.93	%	6.07	%
Trading Account Liabilities(7)	71,755		79,273		87,659		243		294		307		1.37	%	1.47	%	1.42	%
Short-Term Borrowings	131,530		159,188		184,378		965		1,442		1,465		2.98	%	3.59	%	3.22	%
Long-Term Debt	225,186		275,075		296,485		2,495		3,471		3,750		4.49	%	5.01	%	5.13	%
Total Average Interest-Bearing Liabilities	$	1,246,803	$	1,464,094	$	1,583,174	$	12,107	$	16,218	$	17,562	3.94	%	4.39	%	4.50	%
Net Interest Revenue as a % of Average Interest-Earning Assets (NIM)(8)							$	9,766	$	10,039	$	10,570	2.85	%	2.45	%	2.46	%
1Q07 Increase (Decrease) From													(39)	bps	1	bps

(1)Interest Revenue excludes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $29 million for the 2006 first quarter, $30 million for the 2006 fourth quarter and $15 million for the 2007 first 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 2006 fourth quarter includes a ($666) million pretax reserve related to changes in consumer lending laws in Japan.  Excluding this charge, the average rate on Consumer Loans, Total Loans, and Interest Earning Assets would have been 9.13%, 8.86% and 6.58%, respectively. Excluding the charge, Net Interest Revenue as a percent of Average Interest-Earning Assets (NIM) would have been 2.62%.

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)

										EOP											Average
	90 Days Or More Past Due(1)									Loans		Net Credit Losses(1)									Loans
	1Q06			4Q06			1Q07			1Q07		1Q06			4Q06			1Q07			1Q07
PRODUCT VIEW:
U.S.:
U.S. Cards	$	958		$	718		$	587		$	35.9	$	446		$	439		$	439		$	38.9
Ratio	2.39		%	1.61		%	1.63		%			4.27		%	4.30		%	4.58		%
U.S. Retail Distribution	740			834			847			48.4		279			337			335			47.6
Ratio	1.73		%	1.73		%	1.75		%			2.66		%	2.88		%	2.85		%
U.S. Consumer Lending	2,411			2,870			3,026			218.6		176			258			286			216.6
Ratio	1.25		%	1.36		%	1.38		%			0.38		%	0.49		%	0.53		%
U.S. Commercial Business	151			149			195			37.6		14			23			19			36.6
Ratio	0.44		%	0.41		%	0.52		%			0.17		%	0.25		%	0.21		%
International:
International Cards	535			709			736			32.2		218			402			384			31.2
Ratio	2.22		%	2.29		%	2.29		%			3.64		%	5.39		%	4.99		%
International Consumer Finance	437			608			592			25.3		319			380			430			25.0
Ratio	1.93		%	2.43		%	2.34		%			5.78		%	6.05		%	6.98		%
International Retail Banking	736			667			630			71.3		184			221			238			69.8
Ratio	1.21		%	0.97		%	0.88		%			1.21		%	1.29		%	1.38		%
Global Wealth Management	12			21			10			44.6		(4		)	—			—			43.6
Ratio	0.03		%	0.05		%	0.02		%			(0.04		%)	0.00		%	0.00		%
Other Consumer Loans	43			—			—			2.7		1			—			1			2.6
On-Balance Sheet Loans(2)	$	6,023		$	6,576		$	6,623		$	516.6	$	1,633		$	2,060		$	2,132		$	511.9
Ratio	1.31		%	1.29		%	1.28		%			1.46		%	1.64		%	1.69		%
Securitized Receivables (all in U.S. Cards)	1,403			1,616			1,534			99.2		871			1,094			1,150			97.3
Loans Held-for-Sale	—			—			41			2.4		4			—			—			3.0
Managed Loans(3)	$	7,426		$	8,192		$	8,198		$	618.2	$	2,508		$	3,154		$	3,282		$	612.2
Ratio	1.34		%	1.34		%	1.33		%			1.85		%	2.09		%	2.17		%
REGIONAL VIEW:
U.S.	$	4,312		$	4,584		$	4,663		$	371.5	$	916		$	1,058		$	1,080		$	370.2
Ratio	1.27		%	1.24		%	1.26		%			1.11		%	1.16		%	1.18		%
Mexico	541			625			507			16.9		106			163			182			16.5
Ratio	3.68		%	3.78		%	3.00		%			2.87		%	3.97		%	4.47		%
Europe, Middle East and Africa (EMEA)	487			574			582			45.7		250			303			317			44.4
Ratio	1.32		%	1.32		%	1.27		%			2.77		%	2.84		%	2.89		%
Japan	170			235			227			10.9		223			273			313			11.0
Ratio	1.48		%	2.08		%	2.08		%			7.83		%	9.43		%	11.57		%
Asia (excluding Japan)	473			439			432			63.7		136			186			164			62.7
Ratio	0.87		%	0.71		%	0.68		%			1.01		%	1.22		%	1.06		%
Latin America	40			119			212			7.9		2			77			76			7.1
Ratio	0.99		%	1.84		%	2.69		%			0.21		%	4.98		%	4.36		%
On-Balance Sheet Loans(2)	$	6,023		$	6,576		$	6,623		$	516.6	$	1,633		$	2,060		$	2,132		$	511.9
Ratio	1.31		%	1.29		%	1.28		%			1.46		%	1.64		%	1.69		%
Securitized Receivables (all in U.S. Cards)	1,403			1,616			1,534			99.2		871			1,094			1,150			97.3
Loans Held-for-Sale	—			—			41			2.4		4			—			—			3.0
Managed Loans(3)	$	7,426		$	8,192		$	8,198		$	618.2	$	2,508		$	3,154		$	3,282		$	612.2
Ratio	1.34		%	1.34		%	1.33		%			1.85		%	2.09		%	2.17		%

(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 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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Allowance for Loan Losses at Beginning of Period	$	9,782		$	9,505		$	9,144		$	8,979		$	8,940
Gross Credit (Losses)	(2,183		)	(2,354		)	(2,362		)	(2,642		)	(2,667		)	(22)%
Gross Recoveries	583			558			556			500			558			(4)%
Net Credit (Losses) / Recoveries (NCL’s)	(1,600		)	(1,796		)	(1,806		)	(2,142		)	(2,109		)	(32)%
NCL’s	1,600			1,796			1,806			2,142			2,109			32%
Reserve Releases(1)	(301		)	(442		)	(336		)	(175		)	(67		)	78%
Reserve Builds(1)	150			185			322			153			646			NM
Specific Reserve Releases / Utilizations	(81		)	(87		)	(15		)	(17		)	(28		)	65%
Specific Reserve Builds	6			11			13			21			43			NM
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	22			(27		)	3			(11		)	3			(86)%
Provision for Loan Losses	1,396			1,436			1,793			2,113			2,706			94%
Other(2)	(73		)	(1		)	(152		)	(10		)	(27		)
Allowance for Loan Losses at End of Period(a)	$	9,505		$	9,144		$	8,979		$	8,940		$	9,510
Corporate Allowance for Unfunded Lending Commitments(3)(a)	$	900		$	1,050		$	1,100		$	1,100		$	1,100
Provision for Unfunded Lending Commitments	$	50		$	150		$	50		$	—		$	—
Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]	$	10,405		$	10,194		$	10,079		$	10,040		$	10,610
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)	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 first quarter, reductions to the credit loss reserves of $98 million related to securitizations, 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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Allowance for Loan Losses at Beginning of Period	$	6,922		$	6,647		$	6,311		$	6,087		$	6,006
Gross Credit (Losses)	(2,142		)	(2,235		)	(2,318		)	(2,532		)	(2,632		)	(23)%
Gross Recoveries	509			481			503			472			500			(2)%
Net Credit (Losses) / Recoveries (NCL’s)	(1,633		)	(1,754		)	(1,815		)	(2,060		)	(2,132		)	(31)%
NCL’s	1,633			1,754			1,815			2,060			2,132			31%
Reserve Releases(2)	(301		)	(442		)	(336		)	(175		)	(67		)	78%
Reserve Builds(2)	150			110			247			153			346			NM
Specific Reserve Releases / Utilizations	(36		)	(3		)	—			(11		)	(5		)	86%
Specific Reserve Builds	—			7			10			1			37			—
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	—			—			—			—			—			—
Provision for Loan Losses	1,446			1,426			1,736			2,028			2,443			69%
Other(3)	(88		)	(8		)	(145		)	(49		)	21
Allowance for Loan Losses at End of Period	$	6,647		$	6,311		$	6,087		$	6,006		$	6,338
Net Consumer Credit (Losses) as a Percentage of Average Consumer Loans	1.46		%	1.48		%	1.49		%	1.64		%	1.69		%
Consumer Allowance for Credit Losses As a Percentage of Total Consumer Loans	1.44		%	1.31		%	1.25		%	1.17		%	1.22		%

(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 first quarter, reductions to the credit loss reserves of $98 million related to securitizations, and the addition of $75 million related to the acquisition of Grupo Financiero Uno. The 2007 first quarter also includes $41 million 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)  

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
Allowance for Loan Losses at Beginning of Period	$	2,860		$	2,858		$	2,833		$	2,892		$	2,934
Gross Credit (Losses)	(41		)	(119		)	(44		)	(110		)	(35		)	15	%
Gross Recoveries	74			77			53			28			58			(22	)%
Net Credit (Losses) / Recoveries (NCL’s)	33			(42		)	9			(82		)	23			(30	)%
NCL’s	(33		)	42			(9		)	82			(23		)	30	%
Reserve Releases(2)	—			—			—			—			—			—
Reserve Builds(2)	—			75			75			—			300			—
Specific Reserve Releases / Utilizations	(45		)	(84		)	(15		)	(6		)	(23		)	49	%
Specific Reserve Builds	6			4			3			20			6			—
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	22			(27		)	3			(11		)	3			(86	)%
Provision for Loan Losses	(50		)	10			57			85			263			NM
Other (3)	15			7			(7		)	39			(48		)
Allowance for Loan Losses at End of Period (a)	$	2,858		$	2,833		$	2,892		$	2,934		$	3,172
Net Corporate Credit (Losses) as a Percentage of Average Corporate Loans	NM			0.03		%	NM			0.05		%	NM
Corporate Allowance for Credit Losses As a Percentage of Total Corporate Loans	2.00		%	1.81		%	1.73		%	1.76		%	1.82		%
Corporate Allowance for Unfunded Lending Commitments(4)(a)	$	900		$	1,050		$	1,100		$	1,100		$	1,100
Provision for Unfunded Lending Commitments	$	50		$	150		$	50		$	—		$	—
Total Corporate Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]	$	3,758		$	3,883		$	3,992		$	4,034		$	4,272
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		%

(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.

(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)

																1Q07 vs.
	1Q			2Q			3Q			4Q			1Q			1Q06 Increase/
	2006			2006			2006			2006			2007			(Decrease)
U.S. Cards
Net Credit Losses	$	446		$	447		$	456		$	439		$	439		(2	)%
Credit Reserve Build / (Release)	(72		)	(160		)	(122		)	(37		)	(44		)	39	%
U.S. Retail Distribution
Net Credit Losses	279			288			282			337			335			20	%
Credit Reserve Build / (Release)	(55		)	(31		)	(29		)	(59		)	(1		)	98	%
U.S. Consumer Lending
Net Credit Losses	176			160			193			258			286			63	%
Credit Reserve Build / (Release)	(31		)	(75		)	(8		)	(13		)	217			NM
U.S. Commercial Business
Net Credit Losses	14			12			8			23			19			36	%
Credit Reserve Build / (Release)	(38		)	(8		)	(38		)	(18		)	10			NM
International Cards
Net Credit Losses	218			333			347			402			384			76	%
Credit Reserve Build / (Release)	94			26			59			87			22			(77	)%
International Consumer Finance
Net Credit Losses	319			323			389			380			430			35	%
Credit Reserve Build / (Release)	(16		)	17			135			25			26			NM
International Retail Banking
Net Credit Losses	184			191			141			221			238			29	%
Credit Reserve Build / (Release)	(77		)	(105		)	(93		)	(12		)	64			NM
Global Wealth Management:
Smith Barney
Net Credit Losses	—			—			—			—			—			—
Credit Reserve Build / (Release)	1			(1		)	(1		)	1			—			—
Private Bank
Net Credit Losses	(4		)	—			—			—			—			100	%
Credit Reserve Build / (Release)	8			9			17			(6		)	17			NM
Other	—			—			—			—			1			—
Consumer Provision for Loan Losses	1,446			1,426			1,736			2,028			2,443			69	%
Markets & Banking:
Securities and Banking
Net Credit Losses	(34		)	37			(11		)	70			(28		)	18	%
Credit Reserve Build / (Release)	(17		)	(18		)	61			3			286			NM
Transaction Services
Net Credit Losses	1			18			2			6			5			NM
Credit Reserve Build / (Release)	—			(14		)	5			—			—			—
Other	—			—			—			—			—			—
Alternative Investments
Net Credit Losses	—			(13		)	—			—			1			—
Corporate / Other
Net Credit Losses	—			—			—			6			(1		)	—
Corporate Provision for Loan Losses	(50		)	10			57			85			263			NM
Total Provision for Loan Losses	$	1,396		$	1,436		$	1,793		$	2,113		$	2,706		94	%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

38

NON-PERFORMING ASSETS(In millions of dollars)

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

(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 and $957 million at March 31, 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