Consumer Businesses

Citi's Global Consumer Bank (GCB) serves 62 million clients in 35 countries with a strategic focus on markets and segments in which the bank's unique global network, brand, and customer-centric products and services provide a competitive advantage. GCB aims to deliver a remarkable experience to clients through industry-leading products and services, next-generation retail formats and world-class digital channels.

Operating across Citi's four regions – Asia Pacific; Europe, the Middle East and Africa; Latin America; and North America – the GCB's growth plan is aligned with Citi's long-term strategy to harness for customers the dominant secular trends of globalization, urbanization and digitization. Well-positioned and well-diversified, we serve high credit quality, globally minded consumers in the world's top cities.

GCB's primary business lines are Credit Cards, Retail Banking, Mortgages and Commercial Banking, which together generate nearly half their revenues outside North America. As of December 31, 2013, these businesses held $332 billion in deposits, had $302 billion in loans and managed $168 billion in assets. GCB operates approximately 3,730 branches in more than 700 cities worldwide, with a strong presence in 121 of the 150 cities that contribute a third of global gross domestic product growth.

In 2013, GCB generated $10.8 billion in pretax earnings, nearly half of Citicorp's total. Revenue growth in the emerging markets – especially in Latin America and Asia – partly offset a decline in U.S. revenues resulting from the challenging economic environment. Globally, key business drivers reflect continued momentum: Consumer loans grew 2 percent, cards purchase sales increased 3 percent, assets under management rose 8 percent and average deposits were up 2 percent, with growth concentrated in checking and savings accounts.


Citi is the world's largest credit card issuer, with 142 million accounts, $365 billion in annual purchase sales and $150 billion in receivables across Citi Branded Cards and Citi Retail Services.

Citi Branded Cards provides payment and credit solutions to consumers and small businesses in 34 countries. With more than 52 million accounts in circulation, the business had annual purchase sales of $290 billion and a loan portfolio of $104 billion.

In 2013, Citi continued to deliver value, convenience and the power of our global network to cardmembers. Citi Prestige® card, a global credit card built upon the bank's unique relationships and capabilities worldwide, launched in Colombia, Hong Kong, Malaysia, Mexico, Singapore and the U.S. The card offers exceptional rewards, including global benefits, special offers and an annual relationship bonus.

Further enhancing global value for clients, Citi launched Hotel Privileges for Citi debit and credit card clients in Bahrain, the Czech Republic, Egypt, Greece, Hungary, Poland, Russia, Spain, the United Arab Emirates and the United Kingdom.

Hotel Privileges provides special access to 1,000 luxury hotels around the world and offers benefits such as best available rates, complimentary breakfasts, free Internet access and late checkout.

In the U.S., we continued to provide clients with improved features and benefits. Citi enhanced the Citi ThankYou® Preferred and Citi ThankYou Premier credit cards by offering cardmembers more reward points for dining out and entertainment purchases, chip technology to make purchases with ease around the world and access to exclusive events. Citi also expanded the ways ThankYou® Rewards members can use their ThankYou Points, including the option to shop with a Rewards Account Number, a virtual credit card account number linked to their Citi® credit card and ThankYou Rewards account, where MasterCard® and Visa® are accepted.

Through the Private Pass® program, U.S. cardmembers had access to more than 10,000 events in 2013 across a range of interests, including sports, dining and music. In 2013, more than 6,000 music events were offered through the program.

Citi has partnered with American Airlines for more than 25 years to offer Citi®/AAdvantage® credit cards to U.S. customers. Citi announced that beginning in March 2014, the Citi Executive®/AAdvantage® World Elite MasterCard® will be the only U.S. credit card that offers full membership benefits at the American Airlines Admirals Club® airport lounges. Citi Executive®/AAdvantage® cardmembers will enjoy access to nearly 40 Admirals Club®locations worldwide as well as access to select partner airport lounges.

Advancing efforts to become the world's leading digital bank, in 2013, Citi introduced a number of innovative digital and mobile products. In Mexico, Citi subsidiary Banamex introduced iAcepta Mobile, a card reader that can be attached to an iPhone, iPad or iPod touch device, making Banamex the first bank in the country to enable clients to use their debit and credit cards with chips through merchants' mobile devices. iAcepta won the retail payments category at The Banker magazine's Innovation in Technology and Transaction Banking Awards 2013. In India, Citi launched a fully integrated mobile payment solution that allows 320 million credit card clients to make payments through their debit and credit cards. In Latin America, the Citi Beneficios app – a digital tool that gives Citi clients fast and easy access via their mobile devices to information about discounts and promotions from different retailers as well as from Citi branches and ATM locations – launched in 11 countries. Both International Data Group and PC World en Español recognized Citi Beneficios as Best Consumer Mobile App in Latin America.

Citi Retail Services provides consumer and commercial credit card products – both private label and co-branded – to national and regional retailers and their clients across North America. In addition, Retail Services delivers retail industry expertise and insights, including transaction data analytics and fully integrated marketing and loyalty programs, to help retailers expand and deepen customer relationships.

The business services 90 million accounts for iconic brands, including ExxonMobil, The Home Depot, Macy's, Sears and Shell. In September 2013, Retail Services announced a new relationship with Best Buy, one of the world's largest multichannel consumer electronics retailers. The acquisition and swift conversion of Best Buy's U.S. credit card portfolio, which then totaled more than $7 billion in receivables, solidified Citi Retail Services' position as a top provider of private label and co-branded card products to U.S. retailers and their clients.

In 2013, Citi Retail Services also extended its relationship with RadioShack, Staples and Sunoco; celebrated the 10-year anniversary of a partnership with The Home Depot and Sears; and announced a new relationship with Ross-Simons/Sidney Thomas Jewelers. Purchase sales were $75 billion during the year, with a loan portfolio totaling $46 billion.


Global Consumer Banking

With branch locations concentrated in urban centers, and nearly three-quarters of 3,730 branches in emerging markets, Citibank's footprint is unique among financial institutions.

Citibank serves a full range of consumer banking needs, including checking and savings accounts, loans, wealth management advice and small business services. In 2011, Citi joined with the Small Business Administration to announce a three-year commitment to lend $24 billion to America's small businesses, and by the end of 2013, Citi had surpassed that commitment by $2.6 billion.

Citi's Banamex franchise serves 21 million clients in Mexico, where the bank has a leading position in retail banking, consumer credit, corporate and investment banking, securities brokerage, transaction services, wealth management, bank insurance, and mutual and pension funds. In 2013, Global Finance magazine recognized Banamex as Best Bank, Best Consumer Internet Bank Best Corporate/Institutional Internet Bank in Mexico. For the Latin America region, Banamex was honored as Best Online Treasury Services.

In 2013, Citibank optimized its branch footprint, further concentrating its presence in urban centers. Citi opened branches in key U.S. cities, including Chicago, Miami, New York and Washington, D.C., and its first flagship on the West Coast in Los Angeles. Citi Smart Banking branches, designed around technology that offers the finest customer experience in the industry, were opened in many cities around the world, including Rio de Janeiro and Warsaw. Citi also was one of the first two global banks approved to establish a presence in the Shanghai Free Trade Zone in China.

With the vast majority of client transactions occurring outside of branches, Citi pioneered a new distribution model in which a branch is just one touchpoint in a network that includes flagships, traditional branches, kiosks, multi-functional ATMs and digital channels. In Malaysia, the Philippines and Singapore, Citi marked the global launch of Citibank Express next-generation ATM that allows clients to access nearly all the services available at a traditional branch.

In Asia Pacific, Citi and AIA Group Limited announced the largest bancassurance agreement ever signed. The agreement provides the opportunity to offer life insurance products in one of the world's fastest-growing wealth management regions where affluent clients increasingly seek financial protection for their family and assets.

Citigold® wealth management provides access to investment and financial advisory services, including mutual funds, managed portfolios, stocks, bonds, insurance products and retirement solutions. Citigold service provides a personalized level of assistance, unique benefits and global capabilities to clients worldwide. In 2013, The Asset magazine named Citi Best Wealth Manager in Asia, and Private Banker International named Citigold Private Client as Outstanding Wealth Management Service for the Affluent. Bank Investment Consultant named 10 Citigold Financial Advisors among the top advisors of 2013.

The Citi Mortgage business, which provides loans for home purchase and refinance transactions, originated $58 billion in new loans in 2013 in the U.S. The business continued to focus on deepening customer relationships by aligning with Citibank's U.S. retail bank branches in major metropolitan areas. Citi Mortgage remained highly committed to foreclosure prevention, conducting its third consecutive Road to Recovery Tour, a series of events offering private counseling for clients whose financial difficulties affect the ability to make mortgage payments. The 2013 Road to Recovery Tour hosted 30 homeowner assistance events in cities across the U.S., from Las Vegas and Miami to Boston and Minneapolis.

Citi Commercial Bank provides small and middle-market companies with global access to award-winning products from its institutional and consumer platforms. In 2013, Citi Commercial Bank enhanced its service to clients in more than 100 cities worldwide. By taking advantage of its unparalleled global footprint, the Commercial Bank expanded its client base for companies operating in multiple countries and improved the client experience by reducing lending turnaround times by 38 percent while significantly increasing domestic and offshore assets. Citi Commercial Bank has been an important partner for companies as they continue to broaden their reach across key urban centers around the world.