Citigroup, Inc

Citigroup is a diversified bank holding company whose businesses offer a large range of financial services to consumer and corporate customers throughout the world.  Retail banking is offered through products and services of Citibank, N.A. a FDIC insured bank.

Citibank, N.A. is a commercial bank and wholly-owned subsidiary of Citigroup Inc. Citibank’s principal offerings include consumer finance, mortgage lending, and retail banking products and services; investment banking, commercial banking, cash management, trade finance and ecommerce products and services; and private banking products and services.

Citigroup, Inc. activities are conducted and organized into four major segments; consumer banking, global cards, institutional clients group, and global wealth management.

The consumer banking group is divided into consumer finance, retail and commercial business.  The consumer finance is separated into real estate lending, student loans and auto loans.  The retail segment includes; retail bank branches, commercial banking, investment services, retirement services, personal loans and sales finance. The commercial business is comprised of commercial banking. The consumer banking segment incorporates a global, full-service consumer franchise delivering a wide array of banking, lending, insurance and investment services through a network of local branches, offices, and electronic delivery systems.

The Global Cards segment is a global issuer of credit cards through the MasterCard, Visa, Diners Club, Private Label and American Express platforms.

The businesses included in the institutional clients group segment provides corporations, governments, institutions, and investors in approximately 100 countries with a broad range of banking and financial products and services. The institutional clients group segment includes; sales and trading/capital markets, investment banking, corporate and commercial banking, global transaction services and alternative investments.  Global transaction services includes treasury and trade solutions and securities and fund services.  The alternative investments segment includes; private equity, hedge funds, real estate, global fixed income and infrastructure.

The Global Wealth Management segment is composed of the Smith Barney Private Client businesses, Citigroup Private Bank and Citigroup Investment Research. Smith Barney provides investment advice, financial planning and brokerage services to affluent individuals, companies, and non-profits.  Private Bank provides personalized wealth management services for high-net-worth clients.

Recent figures taken from the Citigroup, Inc. third quarter financial report include the following.

Citigroup Inc. reported a net loss for the 2008 third quarter of $2.8 billion, or $0.60 per share, based on 5,342 million shares outstanding.  Results included $4.4 billion in net pre-tax write-downs in Securities and Banking, $4.9 billion in net credit losses, and a $3.9 billion net charge to increase loan loss reserves

Revenues were $16.7 billion, down 23%.  This quarter’s decline in revenues was driven by $4.4 billion in net write-downs in Securities and Banking, lower securitization results in North America Cards, and a $612 million write-down related to the auction rates securities settlement announced on August 7, 2008, partially offset by a $347 million pre-tax gain on the sale of CitiStreet.

Retail and corporate deposits in the U.S. increased 6% versus second quarter 2008 and 11% versus third quarter 2007.

Total assets declined by $50 billion since second quarter 2008 and by $308 billion since third quarter 2007.

Capital strength had a Tier 1 Capital ratio at 8.2%.

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