Consumer Businesses


Citi's Global Consumer Bank serves more than 100 million customers(1) in the fastest-growing cities in 24 countries worldwide.

The Global Consumer Bank (GCB) operates four geographical business lines — Branded Cards, Retail Services, Retail Banking and Commercial Banking — in Citi's four regions: Asia; Europe, the Middle East and Africa (EMEA); Latin America; and North America. With more than a century of enviable brand and market leadership in markets like the U.S., Mexico and Asia, GCB is competitively well-positioned to grow a high credit quality customer base that benefits most from our global capabilities.

In 2015, GCB delivered meaningful progress on strategic initiatives and set the foundation for growth. We streamlined our product suite and sharpened value propositions to drive new customer acquisition, concentrated our retail presence in top urban centers with our distinctive Smart Banking® model and prioritized the digitization of our business today to reflect the massive shift in transaction activity to digital channels. We also continued to simplify and standardize systems and processes to improve efficiency while accelerating the completion of a uniform technology platform in 2016.

To accelerate speed to market with next-generation mobile banking capabilities, we established a new unit called Citi FinTech. This agile unit is charged with designing a mobile banking solution that delivers a radically simple, connected customer experience across the full range of client services: Borrow, Pay, Save, Invest and Protect. In addition to benefiting from Citi's distinct strengths, the team will engage the best capabilities, talent and partners in financial technology (FinTech) to deliver a value proposition in the U.S. in fourth quarter 2016.

Operating approximately 3,000 branches(2) in more than 100 top cities worldwide, GCB generated $9.8 billion in pretax earnings, representing 43 percent of Citicorp's total. In 2015, the business held $301 billion in deposits, had $391 billion in average assets and included $281.3 billion in average loans.

CREDIT CARDS

Citi is the world's largest credit card issuer, with more than 138 million accounts, $363.9 billion in annual purchase sales and $133.2 billion in average receivables across Citi Branded Cards and Citi Retail Services.

Citi Branded Cards
Citi Branded Cards provides payment and credit solutions to consumers and small businesses, with more than 48.2 million accounts globally. In 2015, the business generated annual purchase sales of $283.9 billion and had an average loan portfolio of $89.7 billion.

In 2015, Citi Branded Cards continued to simplify and standardize its global product portfolio, further reducing the number of product variations by 61 percent and rolling out common global product platforms that increase product competitiveness while allowing for local customization. We introduced Citi Simplicity®, a card designed for value-focused customers, in Poland and Russia, and Citi Prestige®, geared to affluent customers, in the Philippines, Taiwan, Thailand and the United Arab Emirates. Citi Prestige now is available in a total of 13 markets representing the majority of our retail banking wealth management customer base.

Citi continues to harness the power of its scale and network to create value for partners and customers. We announced a new, expanded global agreement with MasterCard to speed delivery of payment solutions for customers and drive future payment innovation. Building on our industry-leading rewards capabilities, Citi created a single powerful global rewards platform and website that provide access for customers to redeem rewards from more than 20 global points transfer partners. The program is available in Australia, Bahrain, Colombia, Hong Kong, the Philippines, Singapore, Thailand and the U.S., and new relationships with Qantas Airways and Virgin America will empower customers with even more ways to use rewards.

In the U.S., Citi continued to enhance its proprietary and co-brand portfolio with world-class products and rewards. Costco, one of the largest and most respected retailers, selected Citi to become the exclusive issuer of Costco co-brand credit cards. Citi expanded opportunities to earn rewards faster for everyday purchases made with the ThankYou® Premier card, including gas, parking, tolls and public transportation, and also increased the value of ThankYou Points when redeeming for travel.

Through relationships with legendary artists and bands, Citi's award-winning entertainment access program Citi Private Pass® offered unmatched access and VIP experiences to Citi customers in the U.S. In addition, Citi expanded its entertainment marketing offers globally to more than 10 countries, including Australia, China and the United Kingdom. In the U.S., Citi announced the Citi Concert Series on TODAY, a multi-year sponsorship with NBC that provides year-round opportunities for millions of Citi customers to enjoy watching live performances from some of the biggest names in music.

Wherever and whenever customers choose to make purchases — in store, online or on their mobile devices — Citi offers seamless, convenient and fast payment solutions. Citi worked with Android Pay, Apple Pay and Samsung Pay to make mobile payment solutions available to U.S. Citi customers and teamed with MasterCard to expand global acceptance of the Citi MasterPass digital wallet.

Retail Services
Citi Retail Services is one of North America's largest providers of private label and co-brand credit cards for retailers. In addition, the business delivers multi-channel retailing expertise, advanced data analytics and digital solutions to help premier retailers across an array of industries grow their businesses. We serve 90 million accounts for iconic brands such as Best Buy, ExxonMobil, Macy's, Sears, Shell and The Home Depot.

In 2015, Citi Retail Services renewed six relationships and signed new agreements with America's oldest clothing retailer Brooks Brothers and convenience store retailer Wawa. We converted the Macy's credit card portfolio to Citi's systems, providing enhanced efficiency and effectiveness while facilitating advanced analytics to support sales growth. We also completed the first phase of a multiyear digital transformation initiative to build a single modular credit card marketing and servicing framework supporting the digital and mobile needs of our partners and their customers. Experts say the framework is the most advanced and flexible mass customization structure in the retail private label credit card market.

The business, which marked three decades of industry leadership this year, earned several notable awards, including the Institute of Risk Management's Global Risk Award and an American Business Award for Innovation of the Year for its Field Sales Team Enhancement project.

In 2015, Citi Retail Services saw purchase sales of $80 billion and an average loan portfolio totaling $43 billion.

RETAIL BANKING

Global Consumer Banking

Citibank meets the full range of consumer banking needs, including checking and savings accounts, loans, wealth management advice and small business services. Our Smart Banking branch design and experience, tailored offerings and world-class service continue to set us apart from peers.

Through Citigold® and Citigold Private Client, Citi provides industry-leading, personalized wealth management services and a host of top-tier benefits to clients around the globe. In 2015, Citi opened its first Citigold Client Centers in the U.S. and Colombia, replicating the successful model in place throughout Asia. After its successful introduction in Latin America and EMEA last year, Citi Priority, a unique value proposition designed to meet the needs of the emerging affluent, launched in Hong Kong.

To provide Citi's global financial advisors with premier business and executive training, Citi joined with The Wharton School of the University of Pennsylvania to form the Citi® Wharton® Global Wealth Institute. Part of a three-year executive education initiative, the new institute will benefit the Citigold, Citigold Private Client and Citibanamex global advisory network.

As Citi expands and enhances its digital capabilities, we also continued to refine our physical footprint, concentrating Smart Banking branches in high-impact locations in fast-growing cities around the world, including Dubai, Jakarta, Los Angeles, Moscow, New York and Quezon City. Smart Banking continues to drive growth in client acquisition, improved satisfaction, and increases in speed of in-branch servicing, sales and brand recognition.

Always looking for innovative ways to improve all aspects of the client experience, Citi continues to test and enhance digital features. In 2015, Citi Handlowy was the first bank in Poland to introduce multi-currency ATMs. Citi introduced Touch ID to its U.S. mobile banking app for iPhone, allowing customers to log in with a mere touch to access a suite of new features, including easier mobile bill pay and check deposit. At the Citi Innovation Lab in New York, Citi initiated testing of a screenless, cardless ATM that uses iris-scan biometric technology for authentication and would enable customers to conduct transactions on their smartphones before visiting the ATM.

Across the U.S., Citi continues to support the growth of small businesses. After lending $9.2 billion to U.S. small businesses in 2014, more than double that of 2009, Citi increased lending even more in 2015. Over $10 billion in loans were originated in 2015, raising the total amount of U.S. small business lending over the past five years to $46 billion.

The Mortgage business, which provides loans for home purchase and refinance transactions in the U.S., originated $29.5 billion in new loans in 2015. The business continued to focus on client relationships by targeting originations within Citibank's U.S. retail bank footprint, leveraging digital channels, and implementing an enhanced fulfillment process to reduce cycle times and improve the client experience. As part of its ongoing commitment to foreclosure prevention, CitiMortgage conducted its fifth consecutive Road to Recovery Tour, a series of events offering in-person meetings for clients whose financial difficulties affect their ability to make mortgage payments.

COMMERCIAL BANK

Citi Commercial Banking provides global banking capabilities and services to mid-sized, trade-oriented companies in more than 100 cities worldwide. As many of these clients expand internationally, Citi helps enable their growth and ability to access capital across multiple countries. In 2015, lending turnaround time improved significantly and client satisfaction reached an all-time high. Citi also became the first large bank awarded Preferred Lender Program status by the Small Business Administration for the Export Working Capital Program, geared toward borrowers that are exporting goods and services and creating U.S. jobs.

(1) This includes Citi Retail Services customers.
(2) This does not include approximately 400 Banco de Chile branches, which are part of a joint venture between Citi and Banco de Chile.