<Page>
EXHIBIT 99.01
[CITIGROUP LOGO]
CITIGROUP - QUARTERLY FINANCIAL DATA SUPPLEMENT
<Table>
<Caption>
Page Number
-----------
CITIGROUP CONSOLIDATED
FINANCIAL SUMMARY 1
SEGMENT INCOME FROM CONTINUING OPERATIONS:
Product View 2
Regional View 3
SEGMENT NET REVENUES:
Product View 4
Regional View 5
SEGMENT DETAIL
GLOBAL CONSUMER:
CARDS
Global Cards 6
North America Cards 7
International Cards 8
CONSUMER FINANCE
Global Consumer Finance 9
North America Consumer Finance 10
International Consumer Finance 11
RETAIL BANKING
Global Retail Banking 12
North America Retail Banking 13
International Retail Banking 14
GLOBAL CORPORATE AND INVESTMENT BANK:
Income Statement 15
Revenue Details 16
Capital Markets and Banking 17
Transaction Services 18
PRIVATE CLIENT SERVICES 19
GLOBAL INVESTMENT MANAGEMENT:
Life Insurance and Annuities 20 - 21
Private Bank 22
Asset Management 23
Insurance Investment Portfolio 24
PROPRIETARY INVESTMENT ACTIVITIES 25
</Table>
<Page>
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CITIGROUP -- FINANCIAL SUMMARY
(In millions of dollars, except per share amounts)
CITIGROUP, THE PREEMINENT GLOBAL FINANCIAL SERVICES COMPANY WITH 200 MILLION
CUSTOMER ACCOUNTS IN MORE THAN 100 COUNTRIES, PROVIDES CONSUMERS,
CORPORATIONS, GOVERNMENTS AND INSTITUTIONS A COMPLETE RANGE OF FINANCIAL
PRODUCTS AND SERVICES.
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS 3,484 3,829 3,706 2,429
Discontinued Operations, After-tax 1,406 255 214 -
Cumulative Effect of Accounting Change (47) - - -
---------- ---------- ---------- ----------
NET INCOME $ 4,843 $ 4,084 $ 3,920 $ 2,429
========== ========== ========== ==========
BASIC EARNINGS PER SHARE:
INCOME FROM CONTINUING OPERATIONS $ 0.68 $ 0.75 $ 0.73 $ 0.48
========== ========== ========== ==========
NET INCOME $ 0.94 $ 0.80 $ 0.77 $ 0.48
========== ========== ========== ==========
WEIGHTED AVERAGE COMMON SHARES
APPLICABLE TO BASIC EPS 5,110.5 5,096.7 5,036.6 5,068.0
========== ========== ========== ==========
PREFERRED DIVIDENDS - BASIC $ 21 $ 21 $ 21 $ 20
========== ========== ========== ==========
DILUTED EARNINGS PER SHARE:
INCOME FROM CONTINUING OPERATIONS $ 0.66 $ 0.73 $ 0.72 $ 0.47
========== ========== ========== ==========
NET INCOME $ 0.93 $ 0.78 $ 0.76 $ 0.47
========== ========== ========== ==========
ADJUSTED WEIGHTED AVERAGE COMMON SHARES
APPLICABLE TO DILUTED EPS 5,209.8 5,185.8 5,110.5 5,158.6
========== ========== ========== ==========
PREFERRED DIVIDENDS - DILUTED $ 21 $ 21 $ 21 $ 20
========== ========== ========== ==========
COMMON SHARES OUTSTANDING, AT PERIOD END 5,165.4 5,118.1 5,062.0 5,140.7
========== ========== ========== ==========
TIER 1 CAPITAL RATIO 9.13% 9.20% 9.20% 8.47%
========== ========== ========== ==========
TOTAL CAPITAL RATIO 11.59% 11.75% 12.02% 11.25%
========== ========== ========== ==========
LEVERAGE RATIO 5.89% 5.93% 5.41% 5.49%
TOTAL ASSETS, AT PERIOD END (IN BILLIONS) $ 1,057.7 $ 1,083.3 $ 1,031.6 $ 1,097.2
========== ========== ========== ==========
STOCKHOLDERS' EQUITY, AT PERIOD END (IN BILLIONS) $ 83.6 $ 85.7 $ 80.8 $ 86.7
========== ========== ========== ==========
STOCKHOLDERS' EQUITY AND TRUST SECURITIES, AT PERIOD END
(IN BILLIONS) $ 90.3 $ 92.5 $ 86.9 $ 92.9
========== ========== ========== ==========
BOOK VALUE PER SHARE, AT PERIOD END $ 15.92 $ 16.47 $ 15.68 $ 16.60
========== ========== ========== ==========
RETURN ON COMMON EQUITY (NET INCOME) 24.0% 19.5% 19.1% 11.7%
========== ========== ========== ==========
</Table>
Page 1
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CITIGROUP -- INCOME FROM CONTINUING OPERATIONS
PRODUCT VIEW
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
GLOBAL CONSUMER:
Cards $ 579 $ 722 $ 849 $ 931
Consumer Finance 530 568 539 562
Retail Banking 611 655 827 839
Other (20) 11 (32) (11)
---------- ---------- ---------- ----------
TOTAL GLOBAL CONSUMER 1,700 1,956 2,183 2,321
---------- ---------- ---------- ----------
GLOBAL CORPORATE AND INVESTMENT BANK:
Capital Markets and Banking 1,110 1,126 960 898
Transaction Services 89 216 129 124
Other (23) (34) (10) (1,327)
---------- ---------- ---------- ----------
TOTAL GLOBAL CORPORATE AND INVESTMENT BANK 1,176 1,308 1,079 (305)
---------- ---------- ---------- ----------
PRIVATE CLIENT SERVICES 217 223 188 171
GLOBAL INVESTMENT MANAGEMENT:
Life Insurance and Annuities (LIA) 204 255 183 194
LIA Realized Insurance Investment Portfolio Gains / (Losses) 10 (118) (100) (11)
Private Bank 111 113 117 122
Asset Management 99 121 114 109
---------- ---------- ---------- ----------
TOTAL GLOBAL INVESTMENT MANAGEMENT 424 371 314 414
---------- ---------- ---------- ----------
PROPRIETARY INVESTMENT ACTIVITIES 35 (70) (120) (74)
CORPORATE / OTHER (68) 41 62 (98)
INCOME FROM CONTINUING OPERATIONS 3,484 3,829 3,706 2,429
DISCONTINUED OPERATIONS 1,406 255 214 -
Cumulative Effect of Accounting Change (47) - - -
TOTAL NET INCOME $ 4,843 $ 4,084 $ 3,920 $ 2,429
</Table>
Reclassified to conform to the current period's presentation.
Page 2
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CITIGROUP -- INCOME FROM CONTINUING OPERATIONS
REGIONAL VIEW
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
NORTH AMERICA (EXCLUDING MEXICO) (1)
Consumer $ 1,221 $ 1,308 $ 1,394 $ 1,486
Corporate 721 592 732 (974)
Private Client Services 217 223 188 171
Investment Management 352 218 202 313
---------- ---------- ---------- ----------
TOTAL NORTH AMERICA 2,511 2,341 2,516 996
---------- ---------- ---------- ----------
MEXICO
Consumer 46 113 183 176
Corporate 194 110 61 88
Investment Management 48 70 55 62
---------- ---------- ---------- ----------
TOTAL MEXICO 288 293 299 326
---------- ---------- ---------- ----------
EUROPE, MIDDLE EAST AND AFRICA (EMEA)
Consumer 148 146 174 242
Corporate 144 226 134 347
Investment Management (4) 8 4 14
---------- ---------- ---------- ----------
TOTAL EMEA 288 380 312 603
---------- ---------- ---------- ----------
JAPAN
Consumer 227 256 259 208
Corporate 23 (3) 87 (11)
Investment Management 15 16 11 14
---------- ---------- ---------- ----------
TOTAL JAPAN 265 269 357 211
---------- ---------- ---------- ----------
ASIA (EXCLUDING JAPAN)
Consumer 158 163 195 202
Corporate 193 200 169 160
Investment Management 27 28 25 27
---------- ---------- ---------- ----------
TOTAL ASIA 378 391 389 389
---------- ---------- ---------- ----------
LATIN AMERICA
Consumer (100) (30) (22) 7
Corporate (99) 183 (104) 85
Investment Management (14) 31 17 (16)
---------- ---------- ---------- ----------
TOTAL LATIN AMERICA (213) 184 (109) 76
---------- ---------- ---------- ----------
PROPRIETARY INVESTMENT ACTIVITIES 35 (70) (120) (74)
CORPORATE / OTHER (68) 41 62 (98)
INCOME FROM CONTINUING OPERATIONS 3,484 3,829 3,706 2,429
DISCONTINUED OPERATIONS 1,406 255 214 -
Cumulative Effect of Accounting Change (47) - - -
TOTAL NET INCOME $ 4,843 $ 4,084 $ 3,920 $ 2,429
</Table>
(1) Excludes Proprietary Investment Activities and Corporate / Other.
Reclassified to conform to the current period's presentation.
Page 3
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CITIGROUP -- NET REVENUES
PRODUCT VIEW
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
GLOBAL CONSUMER:
Cards $ 3,121 $ 3,207 $ 3,714 $ 3,646
Consumer Finance 2,332 2,449 2,462 2,564
Retail Banking 3,172 3,065 3,205 3,373
Other 50 134 78 182
---------- ---------- ---------- ----------
TOTAL GLOBAL CONSUMER 8,675 8,855 9,459 9,765
---------- ---------- ---------- ----------
GLOBAL CORPORATE AND INVESTMENT BANK:
Capital Markets and Banking 4,729 4,563 4,035 3,778
Transaction Services 857 962 911 890
Other (99) (104) (57) 44
---------- ---------- ---------- ----------
TOTAL GLOBAL CORPORATE AND INVESTMENT BANK 5,487 5,421 4,889 4,712
---------- ---------- ---------- ----------
PRIVATE CLIENT SERVICES 1,507 1,551 1,430 1,342
GLOBAL INVESTMENT MANAGEMENT:
Life Insurance and Annuities 1,018 1,034 925 1,099
Private Bank 423 428 414 439
Asset Management 470 475 451 445
---------- ---------- ---------- ----------
TOTAL GLOBAL INVESTMENT MANAGEMENT 1,911 1,937 1,790 1,983
---------- ---------- ---------- ----------
PROPRIETARY INVESTMENT ACTIVITIES 111 (49) (67) (30)
CORPORATE / OTHER 107 278 143 101
TOTAL NET REVENUES $ 17,798 $ 17,993 $ 17,644 $ 17,873
MANAGED BASIS REVENUES (1) $ 18,819 $ 19,074 $ 18,604 $ 18,934
</Table>
(1) Segment revenues disclosed above are prepared on an owned basis in
accordance with Generally Accepted Accounting Principles (GAAP). The managed
basis disclosures treat the receivables as if they had not been securitized
and are still on our balance sheet, reflecting the interest revenue and
expense associated with the portfolio, as well as the credit costs incurred.
Although a managed basis presentation is not in conformity with GAAP, the
Company believes it provides a representation of performance and key
indicators of the credit card business that is consistent with the way the
business is managed. For a reconciliation of managed basis revenue to GAAP
revenues, see the Cards business on page 6.
Reclassified to conform to the current period's presentation.
Page 4
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CITIGROUP -- NET REVENUES
REGIONAL VIEW
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
NORTH AMERICA (EXCLUDING MEXICO) (1)
Consumer $ 5,581 $ 5,714 $ 6,104 $ 6,353
Corporate 2,947 2,734 2,413 2,011
Private Client Services 1,507 1,551 1,430 1,342
Investment Management 1,385 1,320 1,271 1,448
---------- ---------- ---------- ----------
TOTAL NORTH AMERICA 11,420 11,319 11,218 11,154
---------- ---------- ---------- ----------
MEXICO
Consumer 633 696 686 609
Corporate 318 204 152 199
Investment Management 185 212 161 169
---------- ---------- ---------- ----------
TOTAL MEXICO 1,136 1,112 999 977
---------- ---------- ---------- ----------
EUROPE, MIDDLE EAST AND AFRICA (EMEA)
Consumer 727 791 834 977
Corporate 1,167 1,365 1,246 1,430
Investment Management 95 110 105 125
---------- ---------- ---------- ----------
TOTAL EMEA 1,989 2,266 2,185 2,532
---------- ---------- ---------- ----------
JAPAN
Consumer 796 933 1,027 967
Corporate 63 27 170 30
Investment Management 66 70 64 70
---------- ---------- ---------- ----------
TOTAL JAPAN 925 1,030 1,261 1,067
---------- ---------- ---------- ----------
ASIA (EXCLUDING JAPAN)
Consumer 616 645 682 702
Corporate 608 640 604 551
Investment Management 101 106 95 121
---------- ---------- ---------- ----------
TOTAL ASIA 1,325 1,391 1,381 1,374
---------- ---------- ---------- ----------
LATIN AMERICA
Consumer 322 76 126 157
Corporate 384 451 304 491
Investment Management 79 119 94 50
---------- ---------- ---------- ----------
TOTAL LATIN AMERICA 785 646 524 698
---------- ---------- ---------- ----------
PROPRIETARY INVESTMENT ACTIVITIES 111 (49) (67) (30)
CORPORATE / OTHER 107 278 143 101
TOTAL NET REVENUES $ 17,798 $ 17,993 $ 17,644 $ 17,873
</Table>
(1) Excludes Proprietary Investment Activities and Corporate / Other.
Reclassified to conform to the current period's presentation.
Page 5
<Page>
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GLOBAL CONSUMER
CARDS
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 3,121 $ 3,207 $ 3,714 $ 3,646
Effect of Securitization Activities 1,013 1,081 960 1,061
---------- ---------- ---------- ----------
ADJUSTED REVENUES, NET OF INTEREST EXPENSE (1) 4,134 4,288 4,674 4,707
---------- ---------- ---------- ----------
Total Operating Expenses 1,327 1,381 1,418 1,409
---------- ---------- ---------- ----------
Provision for Credit Losses 897 729 978 806
Effect of Securitization Activities 1,013 1,081 960 1,061
---------- ---------- ---------- ----------
Adjusted Provision for Credit Losses (1) 1,910 1,810 1,938 1,867
---------- ---------- ---------- ----------
Income Before Taxes 897 1,097 1,318 1,431
Income Taxes 318 375 469 500
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 579 $ 722 $ 849 $ 931
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 57 $ 60 $ 66 $ 70
Return on Assets 4.12% 4.83% 5.10% 5.28%
Return on Managed Assets 1.94% 2.40% 2.61% 2.82%
KEY INDICATORS (in billions of dollars):
End of Period Managed Receivables $ 118.5 $ 122.3 $ 125.0 $ 131.8
EOP Open Accounts (in millions) 104.5 104.4 101.4 102.2
Total Sales $ 62.3 $ 70.1 $ 71.1 $ 74.8
Managed Net Interest Revenue (in millions of dollars) (1) $ 3,218 $ 3,163 $ 3,317 $ 3,372
% of Average Managed Loans 11.08% 10.70% 10.79% 10.67%
Risk Adjusted Revenue (in millions of dollars) (2) $ 2,341 $ 2,448 $ 2,910 $ 2,935
% of Average Managed Loans 8.06% 8.29% 9.47% 9.29%
AVERAGE MANAGED LOANS:
Securitized $ 66.8 $ 65.2 $ 64.6 $ 64.3
Held for Sale 6.5 6.5 6.5 6.5
On Balance Sheet 44.5 46.8 50.8 54.5
---------- ---------- ---------- ----------
Total Managed $ 117.8 $ 118.5 $ 121.9 $ 125.3
========== ========== ========== ==========
Coincident Managed Net Credit Loss Ratio 6.17% 6.23% 5.74% 5.61%
12 Month Lagged Managed Net Credit Loss Ratio 6.50% 6.58% 6.02% 5.96%
Loans 90+Days Past Due (in millions of dollars) $ 2,492 $ 2,260 $ 2,309 $ 2,397
% of EOP Managed Loans 2.12% 1.86% 1.86% 1.84%
</Table>
(1) The managed basis disclosures treat the receivables as if they had not been
securitized and are still on our balance sheet, reflecting the interest
revenue and expense associated with the portfolio, as well as the credit
costs incurred. Although a managed basis presentation is not in conformity
with GAAP, the Company believes it provides a representation of performance
and key indicators of the credit card business that is consistent with the
way the business is managed.
(2) Risk adjusted revenue is total revenues less net credit losses.
Reclassified to conform to the current period's presentation.
Page 6
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GLOBAL CONSUMER
CARDS
NORTH AMERCIA CARDS
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 2,583 $ 2,635 $ 3,137 $ 3,047
Effect of Securitization Activities 1,013 1,081 960 1,061
---------- ---------- ---------- ----------
ADJUSTED REVENUES, NET OF INTEREST EXPENSE (1) 3,596 3,716 4,097 4,108
---------- ---------- ---------- ----------
Total Operating Expenses 1,045 1,079 1,143 1,121
---------- ---------- ---------- ----------
Provision for Credit Losses 668 638 862 675
Effect of Securitization Activities 1,013 1,081 960 1,061
---------- ---------- ---------- ----------
Adjusted Provision for Credit Losses (1) 1,681 1,719 1,822 1,736
---------- ---------- ---------- ----------
Income Before Taxes 870 918 1,132 1,251
Income Taxes 313 313 404 438
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 557 $ 605 $ 728 $ 813
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 46 $ 49 $ 54 $ 58
Return on Assets 4.91% 4.95% 5.35% 5.56%
Return on Managed Assets 2.03% 2.23% 2.47% 2.70%
KEY INDICATORS (in billions of dollars)
End of Period Managed Receivables $ 108.5 $ 111.5 $ 114.1 $ 119.8
EOP Open Accounts (in millions) 91.7 91.3 88.1 88.7
Total Sales $ 54.9 $ 61.9 $ 62.4 $ 65.7
Managed Net Interest Revenue (in millions of dollars) (1) $ 2,883 $ 2,816 $ 2,952 $ 2,992
% of Average Managed Loans 10.86% 10.46% 10.55% 10.41%
Risk Adjusted Revenue (in millions of dollars) (2) $ 1,915 $ 1,997 $ 2,481 $ 2,455
% of Average Managed Loans 7.22% 7.41% 8.87% 8.54%
AVERAGE MANAGED LOANS:
Securitized $ 66.8 $ 65.2 $ 64.6 $ 64.3
Held for Sale 6.5 6.5 6.5 6.5
On Balance Sheet 34.3 36.3 40.0 43.2
---------- ---------- ---------- ----------
Total Managed $ 107.6 $ 108.0 $ 111.1 $ 114.0
========== ========== ========== ==========
MANAGED NET CREDIT LOSSES (IN MILLIONS OF DOLLARS):
Securitized $ 935 $ 989 $ 874 $ 962
Held for Sale 78 92 86 99
On Balance Sheet 668 638 656 592
---------- ---------- ---------- ----------
Total Managed $ 1,681 $ 1,719 $ 1,616 $ 1,653
========== ========== ========== ==========
Coincident Managed Net Credit Loss Ratio 6.33% 6.38% 5.77% 5.75%
12 Month Lagged Managed Net Credit Loss Ratio 6.67% 6.73% 6.05% 6.10%
Loans 90+Days Past Due (in millions of dollars) $ 2,293 $ 2,025 $ 2,107 $ 2,185
% of EOP Managed Loans 2.13% 1.83% 1.87% 1.85%
</Table>
(1) The managed basis disclosures treat the receivables as if they had not been
securitized and are still on our balance sheet, reflecting the interest
revenue and expense associated with the portfolio, as well as the credit
costs incurred. Although a managed basis presentation is not in conformity
with GAAP, the Company believes it provides a representation of performance
and key indicators of the credit card business that is consistent with the
way the business is managed.
(2) Risk adjusted revenue is total revenues less net credit losses.
Reclassified to conform to the current period's presentation.
Page 7
<Page>
[CITIGROUP LOGO]
GLOBAL CONSUMER
CARDS
INTERNATIONAL CARDS
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 538 $ 572 $ 577 $ 599
Total Operating Expenses 282 302 275 288
Provision for Credit Losses 229 91 116 131
---------- ---------- ---------- ----------
Income Before Taxes 27 179 186 180
Income Taxes 5 62 65 62
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 22 $ 117 $ 121 $ 118
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 11 $ 11 $ 12 $ 12
Return on Assets 0.81% 4.27% 4.00% 3.90%
KEY INDICATORS (in billions of dollars)
End of Period Managed Receivables $ 10.0 $ 10.8 $ 10.9 $ 12.0
EOP Open Accounts (in millions) 12.8 13.1 13.3 13.5
Total Sales $ 7.4 $ 8.2 $ 8.7 $ 9.1
Net Interest Revenue (in millions of dollars) (1) $ 335 $ 347 $ 365 $ 380
% of Average Loans 13.38% 13.24% 13.33% 13.39%
Risk Adjusted Revenue (in millions of dollars) (2) $ 426 $ 451 $ 429 $ 480
% of Average Loans 17.07% 17.28% 15.67% 16.91%
AVERAGE LOANS:
EMEA $ 2.9 $ 3.1 $ 3.3 $ 3.8
Japan 1.0 1.1 1.1 1.1
Asia (excluding Japan) 5.5 5.8 5.9 6.0
Latin America 0.8 0.5 0.5 0.4
---------- ---------- ---------- ----------
Total Managed $ 10.2 $ 10.5 $ 10.8 $ 11.3
========== ========== ========== ==========
Net Credit Losses (in millions of dollars) $ 111 $ 122 $ 148 $ 119
Coincident Managed Net Credit Loss Ratio 4.46% 4.64% 5.41% 4.21%
12 Month Lagged Managed Net Credit Loss Ratio 4.76% 4.99% 5.71% 4.57%
Loans 90+Days Past Due (in millions of dollars) $ 199 $ 235 $ 202 $ 212
% of EOP Managed Loans 2.00% 2.17% 1.85% 1.78%
</Table>
(1) Adjusted for the effect of credit card securitization
(2) Risk adjusted revenue is total revenues less net credit losses
Reclassified to conform to the current period's presentation.
Page 8
<Page>
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GLOBAL CONSUMER
CONSUMER FINANCE
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
Total Revenues, Net of Interest Expense $ 2,332 $ 2,449 $ 2,462 $ 2,564
Total Operating Expenses 755 789 776 794
Provision for Credit Losses 750 775 844 925
---------- ---------- ---------- ----------
Income Before Taxes 827 885 842 845
Income Taxes 297 317 303 283
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 530 $ 568 $ 539 $ 562
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 91 $ 94 $ 98 $ 100
Return on Assets 2.36% 2.42% 2.18% 2.23%
KEY INDICATORS:
AVERAGE LOANS (in billions of dollars):
Real estate secured loans $ 46.4 $ 47.3 $ 48.2 $ 50.0
Personal loans 20.1 21.4 22.7 22.2
Auto 7.4 7.9 8.4 9.8
Sales finance and other 3.3 4.1 4.1 4.5
---------- ---------- ---------- ----------
Total $ 77.2 $ 80.7 $ 83.4 $ 86.5
========== ========== ========== ==========
Average Yield 14.77% 14.79% 14.51% 14.19%
Average Net Interest Margin 10.58% 10.82% 10.62% 10.48%
Net Credit Loss Ratio 3.52% 3.60% 3.71% 3.91%
Loans 90+ Days Past Due (in billions of dollars) $ 2,242 $ 2,166 $ 2,179 $ 2,197
% of EOP Loans 2.86% 2.62% 2.60% 2.48%
NUMBER OF OFFICES:
North America 2,394 2,410 2,420 2,411
International 1,142 1,199 1,187 1,137
---------- ---------- ---------- ----------
Total 3,536 3,609 3,607 3,548
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 9
<Page>
[CITIGROUP LOGO]
GLOBAL CONSUMER
CONSUMER FINANCE
NORTH AMERICA CONSUMER FINANCE
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
Total Revenues, Net of Interest Expense $ 1,520 $ 1,512 $ 1,495 $ 1,585
Total Operating Expenses 491 460 462 480
Provision for Credit Losses 508 520 496 550
---------- ---------- ---------- ----------
Income Before Taxes 521 532 537 555
Income Taxes 190 195 196 197
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 331 $ 337 $ 341 $ 358
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 69 $ 70 $ 72 $ 75
Return on Assets 1.95% 1.93% 1.88% 1.89%
KEY INDICATORS:
AVERAGE LOANS (IN BILLIONS OF DOLLARS):
Real estate secured loans $ 41.7 $ 42.1 $ 42.6 $ 44.3
Personal loans 9.9 10.1 10.2 10.3
Auto 5.4 5.8 6.2 7.8
Sales finance and other 2.8 2.9 3.3 3.5
---------- ---------- ---------- ----------
Total $ 59.8 $ 60.9 $ 62.3 $ 65.9
========== ========== ========== ==========
Average Yield 13.36% 13.06% 12.76% 12.56%
Average Net Interest Margin 8.64% 8.45% 8.29% 8.33%
Net Credit Loss Ratio 3.00% 3.10% 2.79% 3.10%
Loans 90+ Days Past Due (in millions of dollars) $ 1,979 $ 1,828 $ 1,777 $ 1,786
% of EOP Loans 3.28% 2.97% 2.82% 2.64%
NUMBER OF OFFICES:
North America (excluding Mexico) 2,278 2,280 2,288 2,267
Mexico 116 130 132 144
---------- ---------- ---------- ----------
Total 2,394 2,410 2,420 2,411
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 10
<Page>
[CITIGROUP LOGO]
GLOBAL CONSUMER
CONSUMER FINANCE
INTERNATIONAL CONSUMER FINANCE
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
Total Revenues, Net of Interest Expense $ 812 $ 937 $ 967 $ 979
Total Operating Expenses 264 329 314 314
Provision for Credit Losses 242 255 348 375
---------- ---------- ---------- ----------
Income Before Taxes 306 353 305 290
Income Taxes 107 122 107 86
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 199 $ 231 $ 198 $ 204
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 22 $ 24 $ 26 $ 25
Return on Assets 3.67% 3.86% 3.02% 3.24%
KEY INDICATORS:
AVERAGE LOANS (IN BILLIONS OF DOLLARS):
Real estate secured loans $ 4.7 $ 5.2 $ 5.6 $ 5.7
Personal loans 10.2 11.3 12.5 11.9
Auto 2.0 2.1 2.2 2.0
Sales finance and other 0.5 1.2 0.8 1.0
---------- ---------- ---------- ----------
Total $ 17.4 $ 19.8 $ 21.1 $ 20.6
========== ========== ========== ==========
Average Yield 19.54% 20.17% 19.68% 19.42%
Average Net Interest Margin 17.17% 18.17% 17.53% 17.32%
Net Credit Loss Ratio 5.32% 5.16% 6.42% 6.48%
Loans 90+ Days Past Due (in billions of dollars) $ 263 $ 338 $ 402 $ 411
% of EOP Loans 1.46% 1.61% 1.94% 1.98%
NUMBER OF OFFICES:
EMEA 129 130 129 133
Japan 879 940 940 884
Asia (excluding Japan) 31 31 32 36
Latin America 103 98 86 84
---------- ---------- ---------- ----------
Total 1,142 1,199 1,187 1,137
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 11
<Page>
[CITIGROUP LOGO]
GLOBAL CONSUMER
RETAIL BANKING
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
Total Revenues, Net of Interest Expense $ 3,172 $ 3,065 $ 3,205 $ 3,373
Total Operating Expenses 1,779 1,742 1,672 1,848
Provision for Credit Losses 423 291 248 233
---------- ---------- ---------- ----------
Income Before Taxes and Minority Interest 970 1,032 1,285 1,292
Income Taxes 349 369 450 440
Minority Interest, net of tax 10 8 8 13
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 611 $ 655 $ 827 $ 839
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 146 $ 149 $ 154 $ 181
Return on Assets 1.70% 1.76% 2.13% 1.84%
KEY INDICATORS:
AVERAGE CUSTOMER DEPOSITS (IN BILLION OF DOLLARS):
North America $ 89.4 $ 87.4 $ 84.7 $ 101.8
International 77.0 79.1 79.5 79.6
---------- ---------- ---------- ----------
Total $ 166.4 $ 166.5 $ 164.2 $ 181.4
========== ========== ========== ==========
AVERAGE LOANS (IN BILLIONS OF DOLLARS):
North America $ 62.9 $ 63.6 $ 65.9 $ 87.5
International 32.6 33.9 34.1 32.5
---------- ---------- ---------- ----------
Total $ 95.5 $ 97.5 $ 100.0 $ 120.0
========== ========== ========== ==========
Net Credit Loss Ratio 0.81% 0.82% 0.69% 0.46%
Loans 90+Days Past Due (in millions of dollars) $ 3,448 $ 3,514 $ 3,408 $ 4,073
% of EOP Managed Loans 3.66% 3.58% 3.48% 3.08%
EOP ACCOUNTS (IN MILLIONS):
North America 26.3 26.7 27.3 29.7
International 17.3 18.2 17.8 17.0
---------- ---------- ---------- ----------
Total 43.6 44.9 45.1 46.7
========== ========== ========== ==========
BRANCHES:
Citibanking North America 461 459 458 812
Mexico 1,489 1,429 1,423 1,422
International 909 908 890 891
---------- ---------- ---------- ----------
Total 2,859 2,796 2,771 3,125
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 12
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GLOBAL CONSUMER
RETAIL BANKING
NORTH AMERICA RETAIL BANKING
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE:
Citibanking North America and Consumer Assets $ 1,097 $ 1,117 $ 1,097 $ 1,313
Primerica Financial Services 519 513 496 530
Mexico 445 500 487 402
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 2,061 $ 2,130 $ 2,080 $ 2,245
Total Operating Expenses 1,193 1,149 1,069 1,216
Provision for Credit Losses 217 239 174 151
---------- ---------- ---------- ----------
Income Before Taxes 651 742 837 878
Income Taxes 242 266 288 298
Minority Interest, net of tax 10 8 8 13
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 399 $ 468 $ 541 $ 567
========== ========== ========== ==========
INCOME FROM CONTINUING OPERATIONS BY BUSINESS:
Citibanking North America and Consumer Assets $ 274 $ 303 $ 311 $ 329
Primerica Financial Services 133 131 126 147
Mexico (8) 34 104 91
---------- ---------- ---------- ----------
Total $ 399 $ 468 $ 541 $ 567
========== ========== ========== ==========
KEY INDICATORS:
AVERAGE CUSTOMER DEPOSITS (IN BILLION OF DOLLARS):
North America (excluding Mexico) $ 62.6 $ 62.7 $ 62.4 $ 79.9
Mexico 26.8 24.7 22.3 21.9
---------- ---------- ---------- ----------
Total $ 89.4 $ 87.4 $ 84.7 $ 101.8
========== ========== ========== ==========
AVERAGE LOANS BY TYPE (IN BILLIONS OF DOLLARS):
Mortgages $ 31.0 $ 32.7 $ 35.3 $ 51.3
Student Loans 19.2 19.2 19.9 21.3
Personal 1.5 1.4 1.4 1.4
Commercial / Other 11.2 10.3 9.3 13.5
---------- ---------- ---------- ----------
Total $ 62.9 $ 63.6 $ 65.9 $ 87.5
========== ========== ========== ==========
Net Credit Loss Ratio 0.56% 0.76% 0.39% 0.20%
Loans 90+Days Past Due (in millions of dollars) $ 2,405 $ 2,333 $ 2,243 $ 2,818
% of EOP Managed Loans 3.86% 3.66% 3.38% 2.82%
CITIBANKING NORTH AMERICA AND CONSUMER ASSETS:
Mutual Fund / UIT Sales at NAV (in millions of dollars) $ 841 $ 866 $ 783 $ 735
Variable Annuity Net Written Premiums & Deposits
(in millions of dollars) $ 367 $ 327 $ 375 $ 329
EOP Mortgage Servicing Portfolio (in billions of dollars) $ 74.9 $ 80.6 $ 82.0 $ 162.9
Mortgage Orginations (in billions of dollars) $ 10.7 $ 11.8 $ 12.7 $ 20.0
Student Loan Originations (in billions of dollars) $ 1.5 $ 0.7 $ 2.2 $ 1.6
PRIMERICA FINANCIAL SERVICES:
Life Insurance in Force (in billions of dollars) $ 441.3 $ 452.6 $ 459.1 $ 466.8
Loan Volumes (in millions of dollars) (1) $ 1,253.8 $ 1,139.8 $ 1,105.4 $ 1,237.4
Mutual Fund / UIT Sales at NAV (in millions of dollars) $ 937 $ 964 $ 718 $ 687
Variable Annuity Net Written Premiums & Deposits
(in millions of dollars) $ 225 $ 250 $ 184 $ 156
</Table>
(1) Represents loan products marketed by PFS; the receivables are primarily
reflected in the assets of Consumer Finance.
Reclassified to conform to the current period's presentation.
Psge 13
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GLOBAL CONSUMER
RETAIL BANKING
INTERNATIONAL RETAIL BANKING
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE:
EMEA $ 431 $ 476 $ 504 $ 541
Japan 102 111 167 111
Asia (excluding Japan) 354 356 394 382
Latin America 224 (8) 60 94
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 1,111 $ 935 $ 1,125 $ 1,128
Total Operating Expenses 586 593 603 632
Provision for Credit Losses 206 52 74 82
---------- ---------- ---------- ----------
Income Before Taxes 319 290 448 414
Income Taxes and Minority Interest, Net of Tax 107 103 162 142
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 212 $ 187 $ 286 $ 272
========== ========== ========== ==========
INCOME FROM CONTINUING OPERATIONS BY REGION:
EMEA $ 89 $ 101 $ 108 $ 108
Japan 32 39 72 39
Asia (excluding Japan) 110 116 141 129
Latin America (19) (69) (35) (4)
---------- ---------- ---------- ----------
Total $ 212 $ 187 $ 286 $ 272
========== ========== ========== ==========
KEY INDICATORS:
AVERAGE CUSTOMER DEPOSITS (IN BILLION OF DOLLARS):
EMEA $ 16.2 $ 16.9 $ 17.0 $ 17.3
Japan 15.8 17.2 18.4 18.7
Asia (excluding Japan) 36.7 37.6 36.9 36.6
Latin America 8.3 7.4 7.2 7.0
---------- ---------- ---------- ----------
Total $ 77.0 $ 79.1 $ 79.5 $ 79.6
========== ========== ========== ==========
AVERAGE LOANS BY TYPE (IN BILLIONS OF DOLLARS):
Mortgages $ 14.2 $ 14.5 $ 14.3 $ 12.1
Auto 2.8 2.6 2.5 2.3
Personal 12.2 13.3 14.0 14.6
Commercial / Other 3.4 3.5 3.3 3.5
---------- ---------- ---------- ----------
Total $ 32.6 $ 33.9 $ 34.1 $ 32.5
========== ========== ========== ==========
Net Credit Loss Ratio 1.29% 0.92% 1.26% 1.19%
Loans 90+Days Past Due (in millions of dollars) $ 1,043 $ 1,181 $ 1,165 $ 1,255
% of EOP Managed Loans 3.26% 3.43% 3.68% 3.84%
BRANCHES:
EMEA 603 599 605 606
Japan 20 20 20 23
Asia (excluding Japan) 91 94 96 98
Latin America 195 195 169 164
---------- ---------- ---------- ----------
Total 909 908 890 891
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 14
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GLOBAL CORPORATE AND INVESTMENT BANK
INCOME STATEMENT
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
REVENUES:
Commissions and Fees $ 588 $ 579 $ 580 $ 532
Asset Management and Administration Fees 425 461 464 474
Investment Banking 904 985 770 853
Principal Transactions 1,296 1,071 924 438
Other (95) 22 148 192
---------- ---------- ---------- ----------
Total Non-Interest Revenues 3,118 3,118 2,886 2,489
Net Interest and Dividends 2,369 2,303 2,003 2,223
---------- ---------- ---------- ----------
Total Revenues, Net of Interest Expense 5,487 5,421 4,889 4,712
---------- ---------- ---------- ----------
Non-Interest Expenses:
Compensation and Benefits 2,124 1,965 1,446 1,142
Other Operating and Administrative Expenses 918 1,019 998 3,142
---------- ---------- ---------- ----------
Total Non-Interest Expenses 3,042 2,984 2,444 4,284
---------- ---------- ---------- ----------
Provision for Credit Losses 680 459 798 878
---------- ---------- ---------- ----------
Income (Loss) Before Taxes and Minority Interest 1,765 1,978 1,647 (450)
Income Taxes (Benefits) and Minority Interest, Net of Tax 589 670 568 (145)
---------- ---------- ---------- ----------
INCOME (LOSS) FROM CONTINUING OPERATIONS $ 1,176 $ 1,308 $ 1,079 $ (305)
========== ========== ========== ==========
Pre-tax Profit Margin 32.2% 36.5% 33.7% -9.6%
Non-Compensation Expenses as a Percent of
Net Revenues 16.7% 18.8% 19.8% 66.7%
Compensation and Benefits Expenses as a Percent of
Net Revenues 38.7% 36.2% 30.2% 24.2%
Compensation and Benefits Expenses as a Percent of
Risk Adjusted Revenues (1) 44.2% 39.6% 36.1% 29.8%
</Table>
(1) Risk Adjusted Revenues represent Revenues net of Interest Expense less
Provision for Credit Losses.
Reclassified to conform to the current period's presentation.
Page 15
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GLOBAL CORPORATE AND INVESTMENT BANK
REVENUE DETAILS
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
INVESTMENT BANKING REVENUE:
Debt Underwriting $ 349 $ 359 $ 270 $ 296
Equity Underwriting 342 308 195 177
Advisory and Other Fees 352 450 434 482
Revenue Recognized in Private Client Segment (139) (132) (129) (102)
---------- ---------- ---------- ----------
Total Investment Banking Revenues $ 904 $ 985 $ 770 $ 853
========== ========== ========== ==========
TRADING RELATED REVENUE BY PRODUCT
Fixed Income $ 1,538 $ 1,173 $ 1,099 $ 980
Equities 148 197 2 (17)
Foreign Exchange 435 522 412 357
All Other 84 33 68 28
Revenue Recognized in Private Client Segment (120) (112) (121) (114)
---------- ---------- ---------- ----------
Total Trading Related Revenue $ 2,085 $ 1,813 $ 1,460 $ 1,234
========== ========== ========== ==========
TRADING RELATED REVENUE BY INCOME STATEMENT LINE
Principal Transactions $ 1,296 $ 1,071 $ 924 $ 438
Net Interest Revenue 789 742 536 796
---------- ---------- ---------- ----------
Total Trading Related Revenue $ 2,085 $ 1,813 $ 1,460 $ 1,234
========== ========== ========== ==========
</Table>
Reclassified to conform to the current period's presentation.
Page 16
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GLOBAL CORPORATE AND INVESTMENT BANK
CAPITAL MARKETS AND BANKING
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 4,729 $ 4,563 $ 4,035 $ 3,778
Total Operating Expenses 2,438 2,390 1,849 1,655
Provision for Credit Losses 611 456 710 829
---------- ---------- ---------- ----------
Income Before Taxes 1,680 1,717 1,476 1,294
Income Taxes and Minority Interest, Net of Tax 570 591 516 396
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 1,110 $ 1,126 $ 960 $ 898
========== ========== ========== ==========
INVESTMENT BANKING
UNDERWRITING (FULL CREDIT TO BOOK MANAGER):
DEBT AND EQUITY:
Global Volume (1) $ 141,961 $ 116,686 $ 89,829 $ 91,616
Global Market Share 11.6% 10.3% 10.0% 9.4%
Rank 1 1 1 1
U.S. Volume (2) $ 114,651 $ 85,050 $ 73,050 $ 67,553
U.S. Market Share 13.7% 11.5% 11.6% 10.2%
Rank 1 1 1 1
</Table>
(1) Includes non-convertible debt, Rule 144A non-convertible debt, Rule 144A
non-convertible preferred, non-convertible preferred, preferred, taxable
municipal debt, mortgage and asset backed debt, all common stock,
convertible debt and convertible preferred. Excludes all closed end funds.
(2) Includes all U.S. mortgage and asset backed debt, U.S. non-convertible debt,
U.S. Rule 144A non-convertible and U.S. taxable municipal debt, all U.S.
common stock, U.S. convertible debt and U.S. convertible preferred. Excludes
all closed end funds, 144A common stock, 144A convertible stock, and 144A
convertible preferred.
Reclassified to conform to the current period's presentation.
Page 17
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GLOBAL CORPORATE AND INVESTMENT BANK
TRANSACTION SERVICES
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 857 $ 962 $ 911 $ 890
Total Operating Expenses 653 630 633 667
Provision for Credit Losses 69 3 88 49
---------- ---------- ---------- ----------
Income Before Taxes 135 329 190 174
Income Taxes and Minority Interest, Net of Tax 46 113 61 50
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 89 $ 216 $ 129 $ 124
========== ========== ========== ==========
LIABILITY BALANCES (AVERAGE IN BILLIONS) $ 81 $ 84 $ 86 $ 89
ASSETS UNDER CUSTODY (EOP IN TRILLIONS) $ 5.2 $ 5.4 $ 5.3 $ 5.1
</Table>
NM Not meaningful
Reclassified to conform to the current period's presentation.
Page 18
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PRIVATE CLIENT SERVICES
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
REVENUES:
Fee-Based and Net Interest Revenue $ 770 $ 799 $ 728 $ 658
Commissions and Other Transactional Revenue 737 752 702 684
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE 1,507 1,551 1,430 1,342
---------- ---------- ---------- ----------
Total Operating Expenses 1,165 1,198 1,133 1,059
Provision for Credit Losses - 2 - 4
---------- ---------- ---------- ----------
Income Before Taxes 342 351 297 279
Income Taxes 125 128 109 108
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 217 $ 223 $ 188 $ 171
========== ========== ========== ==========
Pretax Profit Margin 23% 23% 21% 21%
Financial Consultants 12,767 12,808 12,744 12,690
Annualized Revenue per FC (000) $ 481 $ 482 $ 444 $ 418
Branch offices 536 538 538 536
CLIENT ASSETS (in billions of dollars)
ASSETS UNDER FEE-BASED MANAGEMENT
Consulting Group and Internally Managed Accounts $ 130 $ 116 $ 103 $ 106
Financial Consultant Managed Accounts 60 55 49 52
---------- ---------- ---------- ----------
TOTAL PRIVATE CLIENT (1) $ 190 $ 171 $ 152 $ 158
========== ========== ========== ==========
TOTAL CLIENT ASSETS
Private Client $ 858 $ 802 $ 734 $ 762
Citigroup Asset Management Institutional /
Other Investor Assets within Citigroup Global Markets 127 130 116 129
---------- ---------- ---------- ----------
TOTAL (1) $ 985 $ 932 $ 850 $ 891
========== ========== ========== ==========
Net Client Asset Flows $ 15 $ 9 $ 7 $ 3
Bank Deposit Program $ 37 $ 37 $ 40 $ 41
</Table>
(1) Includes some assets jointly managed with Citigroup Asset Management.
Reclassified to conform to the current period's presentation.
Page 19
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GLOBAL INVESTMENT MANAGEMENT
LIFE INSURANCE AND ANNUITIES - PAGE 1
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 1,018 $ 1,034 $ 925 $ 1,099
Total Operating Expenses 92 112 124 173
Provision for Benefits and Claims 616 735 698 677
---------- ---------- ---------- ----------
Income Before Taxes 310 187 103 249
Income Taxes 96 50 20 66
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 214 $ 137 $ 83 $ 183
========== ========== ========== ==========
LESS REALIZED INSURANCE INVESTMENT PORTFOLIO $ (10) $ 118 $ 100 $ 11
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS BEFORE REALIZED INSURANCE
INVESTMENT PORTFOLIO GAINS/(LOSSES)(2) $ 204 $ 255 $ 183 $ 194
========== ========== ========== ==========
INCOME FROM CONTINUING OPERATIONS BEFORE REALIZED INSURANCE
INVESTMENT PORTFOLIO GAINS / (LOSSES):
Travelers Life & Annuity $ 200 $ 206 $ 170 $ 200
International Insurance Manufacturing $ 4 $ 49 $ 13 $ (6)
PRE-TAX CONTRIBUTION BY SOURCE:
Individual annuities $ 123 $ 112 $ 89 $ 94
Group annuities 98 96 62 109
Life 41 66 47 53
Other 27 25 37 29
---------- ---------- ---------- ----------
Total Travelers Life & Annuity 289 299 235 285
Total International Insurance Manufacturing 5 70 16 (14)
Realized Insurance Investment Portfolio Gains / (Losses) 16 (182) (148) (22)
---------- ---------- ---------- ----------
Total Life Insurance and Annuities $ 310 $ 187 $ 103 $ 249
========== ========== ========== ==========
</Table>
(1) Includes pretax realized insurance investment portfolio gains (losses) of
$16, ($182), ($148), and ($22), for the first, second, third and fourth
quarters of 2002, respectively, and ($3) for the first quarter of 2003.
(2) Income from Continuing Operations before Realized Insurance Investment
Portfolio Gains/(Losses) is a non-GAAP measure. The Company believes income
from Continuing Operations before Realized Insurance Investment Portfolio
Gains/(Losses) is a more appropriate indicator of insurance results and
more reflective of the underlying trends of the businesses ongoing
operations. Net Realized Insurance Investment Portfolio Gains/(Losses) are
significantly impacted by both discretionary and other economic factors.
Page 20
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GLOBAL INVESTMENT MANAGEMENT
LIFE INSURANCE AND ANNUITIES - PAGE 2
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TRAVELERS LIFE AND ANNUITY:
INDIVIDUAL ANNUITIES:
Net written premiums and deposits:
Fixed $ 376 $ 400 $ 325 $ 193
Variable 1,136 1,119 962 864
Individual Payout 14 12 15 17
---------- ---------- ---------- ----------
Total $ 1,526 $ 1,531 $ 1,302 $ 1,074
========== ========== ========== ==========
POLICYHOLDER ACCOUNT BALANCES AND BENEFIT RESERVES: (1)
Fixed $ 7,889 $ 8,229 $ 8,515 $ 8,647
Variable 22,168 20,328 18,173 19,152
Individual Payout 646 644 645 649
---------- ---------- ---------- ----------
Total $ 30,703 $ 29,201 $ 27,333 $ 28,448
========== ========== ========== ==========
POLICYHOLDER ACCOUNT BALANCES AND BENEFIT RESERVES
ROLLFORWARD: (1)
Beginning of Period $ 30,049 $ 30,703 $ 29,201 $ 27,333
Net Sales 796 661 464 262
Change in Market Value (116) (2,130) (2,318) 856
Interest Credited 116 121 128 133
Benefits, Fees and Other (142) (154) (142) (136)
---------- ---------- ---------- ----------
End of Period $ 30,703 $ 29,201 $ 27,333 $ 28,448
========== ========== ========== ==========
GROUP ANNUITIES:
Net Written Premiums and Deposits (2) $ 1,525 $ 2,350 $ 1,397 $ 1,020
Policyholder account balances and benefit reserves: (1)
Guaranted Investment Contracts $ 9,745 $ 10,808 $ 10,970 $ 10,719
Payout Group Annuities 5,720 5,942 6,099 6,202
Other Group Investment Contracts 5,819 5,759 5,581 5,380
---------- ---------- ---------- ----------
Total $ 21,284 $ 22,509 $ 22,650 $ 22,301
========== ========== ========== ==========
INDIVIDUAL LIFE INSURANCE:
Net written premiums and deposits:
Direct periodic premiums and deposits $ 233 $ 177 $ 143 $ 218
Single premium deposits 76 72 64 73
Reinsurance (26) (28) (29) (30)
---------- ---------- ---------- ----------
Total $ 283 $ 221 $ 178 $ 261
========== ========== ========== ==========
Policyholder account balances and benefit reserves $ 3,592 $ 3,643 $ 3,635 $ 3,852
Life insurance in force (in billions, face amt.) $ 77.8 $ 79.6 $ 80.7 $ 82.0
Life insurance issued (in billions, face amt.) $ 4.5 $ 4.0 $ 3.2 $ 3.3
INVESTMENT DATA:
Assets $ 35,179 $ 36,869 $ 38,075 $ 39,766
Net Investment Income $ 619 $ 638 $ 620 $ 693
Annualized Effective Yield 7.11% 7.12% 6.57% 7.25%
</Table>
(1) Includes general account, separate accounts and managed funds.
(2) Excludes deposits related to Citigroup plans previously managed externally.
Page 21
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GLOBAL INVESTMENT MANAGEMENT
PRIVATE BANK
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 423 $ 428 $ 414 $ 439
Total Operating Expenses 257 261 237 252
Provision for Credit Losses 6 - 5 7
---------- ---------- ---------- ----------
Income Before Taxes 160 167 172 180
Income Taxes 49 54 55 58
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 111 $ 113 $ 117 $ 122
========== ========== ========== ==========
Average Assets (in billions of dollars) $ 28 $ 29 $ 29 $ 30
========== ========== ========== ==========
Return on Assets 1.61% 1.56% 1.60% 1.61%
========== ========== ========== ==========
Client Business Volumes (in billions of dollars) (1) $ 166 $ 163 $ 163 $ 170
========== ========== ========== ==========
CLIENT BUSINESS VOLUMES (IN BILLIONS OF DOLLARS) (1):
Proprietary Managed Assets $ 31 $ 29 $ 31 $ 32
Other Assets under Fee-Based Management 9 9 8 8
Banking and Fiduciary Deposits 35 36 36 38
Loans 29 30 31 33
Other, Principally Custody Accounts 62 59 57 59
---------- ---------- ---------- ----------
Total Client Business Volumes $ 166 $ 163 $ 163 $ 170
========== ========== ========== ==========
REVENUES:
Customer Revenues
Net Interest Spread and Recurring
Fee-Based Revenues $ 273 $ 270 $ 269 $ 283
Transaction Revenues 91 96 74 90
---------- ---------- ---------- ----------
Total Customer Revenues 364 366 343 373
Other Revenues (Principally Allocated Equity
and Treasury Revenues) 59 62 71 66
---------- ---------- ---------- ----------
TOTAL REVENUES $ 423 $ 428 $ 414 $ 439
========== ========== ========== ==========
North America $ 187 $ 184 $ 187 $ 197
International 236 244 227 242
---------- ---------- ---------- ----------
$ 423 $ 428 $ 414 $ 439
========== ========== ========== ==========
Net Credit Loss Ratio 0.04% 0.00% 0.08% 0.10%
</Table>
(1) Client Business Volumes reflect the inclusion of Banamex beginning in the
2002 third quarter.
Reclassified to conform to the current period's presentation.
Page 22
<Page>
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GLOBAL INVESTMENT MANAGEMENT
ASSET MANAGEMENT (1)
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 470 $ 475 $ 451 $ 445
Total Operating Expenses 318 298 280 293
---------- ---------- ---------- ----------
Income Before Taxes and Minority Interest 152 177 171 152
Income Taxes and Minority Interest, net of tax 53 56 57 43
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 99 $ 121 $ 114 $ 109
========== ========== ========== ==========
Pre-tax profit margin 32.3% 37.3% 37.9% 34.2%
ASSET MANAGEMENT (EXCL. RETIREMENT SERVICES):
Total Revenues, Net of Interest Expense $ 385 $ 393 $ 361 $ 361
Total Operating Expenses 257 260 243 246
---------- ---------- ---------- ----------
Income Before Taxes 128 133 118 115
Income taxes 50 49 45 43
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 78 $ 84 $ 73 $ 72
========== ========== ========== ==========
RETIREMENT SERVICES:
Total Revenues, Net of Interest Expense $ 85 $ 82 $ 90 $ 84
Total Operating Expenses 61 38 37 47
---------- ---------- ---------- ----------
Income Before Taxes and Minority Interest 24 44 53 37
Income Taxes and Minority Interest, net of tax 3 7 12 -
---------- ---------- ---------- ----------
INCOME FROM CONTINUING OPERATIONS $ 21 $ 37 $ 41 $ 37
========== ========== ========== ==========
NET FLOWS BY BUSINESS (IN BILLIONS OF DOLLARS):
Retail/Private Bank $ 6.0 $ 3.3 $ 0.5 $ 0.9
Institutional
Long Term 4.1 3.6 1.6 1.4
Liquidity 9.8 1.7 (8.1) 10.1
---------- ---------- ---------- ----------
Total Institutional 13.9 5.3 (6.5) 11.5
---------- ---------- ---------- ----------
Net Flows Excluding US Retail Money Markets $ 19.9 $ 8.6 $ (6.0) $ 12.4
---------- ---------- ---------- ----------
US Retail Money Markets $ (1.6) $ (4.5) $ (3.0) $ (3.5)
ASSETS UNDER MANAGEMENT BY BUSINESS (IN BILLIONS OF DOLLARS):
Retail/Private Bank (2) $ 238.9 $ 220.6 $ 201.5 $ 205.1
Institutional 156.6 161.7 150.2 163.9
Retirement Services 9.9 10.1 10.6 11.1
Other (3) 46.3 47.3 81.5 82.8
---------- ---------- ---------- ----------
Total Assets Under Management (2, 3) $ 451.7 $ 439.7 $ 443.8 $ 462.9
========== ========== ========== ==========
ASSETS UNDER MANAGEMENT BY PRODUCT (IN BILLIONS OF DOLLARS):
Equity/Balanced $ 165.5 $ 151.2 $ 129.4 $ 132.9
Fixed Income 106.3 111.7 145.1 152.9
Money Markets/Liquidity 140.6 135.2 124.3 132.3
Alternative Investments 39.3 41.6 45.0 44.8
---------- ---------- ---------- ----------
Total Assets Under Management (2, 3) $ 451.7 $ 439.7 $ 443.8 $ 462.9
========== ========== ========== ==========
NUMBER OF MORNINGSTAR 4- AND 5-STAR MUTUAL FUND SHARE
CLASSES (4)
Equity 11 12 13 14
Fixed Income 10 13 13 12
CITISTREET JOINT VENTURE - ASSETS UNDER ADMINISTRATION
(IN BLLIONS OF DOLLARS) $ 181 $ 176 $ 159 $ 163
</Table>
(1) Includes Retirement Services Businesses.
(2) Includes $29, $28, $29 and $31 billion for the first, second, third and
fourth quarters of 2002, respectively, for Citigroup Private Bank clients.
(3) Includes CAI Institutional alternative investments, Travelers Property
Casualty Corp., and TAMIC AUMs. Travelers Property Casualty Corp. assets of
$34 and $35 billion in the third and fourth quarters of 2002 are managed by
Asset Management on a third-party basis following the spin-off.
(4) Asset calculations are based on classes of such funds ranked by Morningstar.
Number of funds reflects only one class per fund and are based on
performance of non-money market retail funds.
NM Not meaningful
Reclassified to conform to the current period's presentation.
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<Page>
[CITIGROUP LOGO]
GLOBAL INVESTMENT MANAGEMENT
INSURANCE INVESTMENT PORTFOLIO (1)
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
Fixed-income investments:
Available for sale, at market:
Mortgage-backed securities - principally
obligations of U.S. Government agencies $ 8,160 $ 8,516 $ 9,113 $ 8,979
U.S. Treasury securities and obligations of U.S.
Government corporations and agencies 2,093 2,068 2,254 2,819
Corporates (including redeemable preferreds) 24,730 25,840 26,810 27,106
Obligations of states and political subdivisions 148 241 318 370
Debt securities issued by foreign governments 749 643 537 398
Held to maturity, at amortized cost 13 12 12 11
---------- ---------- ---------- ----------
Total fixed income 35,893 37,320 39,044 39,683
Equity securities, at market 548 539 470 356
Short Term and Other 4,140 4,230 3,836 6,364
---------- ---------- ---------- ----------
TOTAL INVESTMENTS HELD BY INSURANCE COMPANIES $ 40,581 $ 42,089 $ 43,350 $ 46,403
========== ========== ========== ==========
After-tax unrealized gains / (losses) on invested assets $ (112) $ 160 $ 600 $ 753
========== ========== ========== ==========
</Table>
(1) Includes investments held by insurance companies. Excludes Travelers
Property Casualty Corp.
Reclassified to conform to the current period's presentation.
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<Page>
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PROPRIETARY INVESTMENT ACTIVITIES (1)
(In millions of dollars)
<Table>
<Caption>
1Q 2Q 3Q 4Q
2002 2002 2002 2002
---------- ---------- ---------- ----------
TOTAL REVENUES, NET OF INTEREST EXPENSE (2) $ 111 $ (49) $ (67) $ (30)
TOTAL OPERATING EXPENSES 52 48 76 62
INCOME (LOSS) FROM CONTINUING OPERATIONS (2) $ 35 $ (70) $ (120) $ (74)
TOTAL REVENUES, NET OF INTEREST EXPENSE (BY TYPE):
Private Equity $ 77 $ (89) $ (651) $ (91)
Hedge Funds 11 17 20 23
TPC Investment - - - -
Refinancing Portfolio 4 3 2 5
Other (2) 19 20 562 33
---------- ---------- ---------- ----------
Total $ 111 $ (49) $ (67) $ (30)
========== ========== ========== ==========
TOTAL PERIOD END ASSETS (IN BILLIONS) $ 9.6 $ 8.6 $ 9.1 $ 9.4
</Table>
(1) Includes Venture Capital Activities and certain other corporate investments.
(2) The 2002 third quarter includes $527 million ($323 million after-tax)
related to the gain on sale of 399 Park Avenue.
NM Not meaningful
Reclassified to conform to the current period's presentation.
Page 25