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Citigroup End of Year Highlights

In todays world there is no other financial institution that can facilitate and implement the range of services with which Citi provides its clients. Below are ten highlights to keep in mind when analyzing its equity.

At the end of the second quarter of 2009, the company’s Tier 1 Capital ratio, a key measure of financial strength, was 12.7%, among the highest in the industry. Citi’s Tier 1 Common increased by approximately $64 billion following its recent exchange offer. Its Tangible Common Equity (TCE) will increase by approximately $60 billion, resulting in approximately $100 billion of TCE and a Tier 1 Common ratio of over 9%. Structural liquidity at the end of the second quarter of 2009 was 71% compared to 55% at the end of the third quarter of 2007. Citi has reduced key risk exposures by 37% year over year to approximately $97 billion (e.g. year over year, direct sub-prime exposure is down 57% and highly leveraged finance commitments are down 65%); anmore than 50% since the end of 2007. Citi has reduced quarterly expenses by 23% since the fourth quarter of 2007 while continuing to invest in innovation and serving customers well. Since the beginning of 2007, Citi has worked successfully with approximately 625,000 homeowners to avoid potential foreclosure on combined mortgages totaling more than $67 billion. Regional Consumer Banking deposits grew in every region versus the prior quarter, with particular strength in North America, where deposits grew 6%. Total deposits were $805 billion, up 6% sequentially and flat with prior year levels. Citi has sold more than 20 businesses since the end of 2007, redirecting its focus on core businesses. Since the begginging of 2008, Citi has reduced assets within Citi Holdings by approximately $250 billion. Last quarter, Institutional Clients Group had net income of $2.8 billion, up 17% from prior year levels on record net income from Transaction Services and strong results in Securities and Banking.

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