Michael Corbat, Citi CEO
Washington, D.C. Branch Opening
As prepared for delivery
Wednesday, April 10, 2013

Remarks by Citi CEO Michael Corbat at the Opening of Citi's New Washington, D.C. Branch

Thank you, Cece. Good afternoon.

I'm very glad to be here, and proud of this terrific new facility.

Citi doesn't have the largest branch network—we have fewer in the entire world than some of our peers have east of the Mississippi.

But we're striving to build the best.

That comes through in two ways.

First is location. We don't want to be everywhere. We want to be where the action is, in the key centers of the global economy, where the world's most sophisticated and globally-minded consumers live, work and visit. As part of our strategy, we've identified 150 such cities. We're already active in more than 80 percent of them.

Citi literally connects the world through its unparalleled global presence, which of course includes our nation's capital.

We leverage innovations created throughout our network so that every time we open a branch – whether it is on the corner of Connecticut and K or in Shanghai – we deliver proven customer service and solutions.

Washington is not just the capital of the U.S. and not just one of the world's most important cities, it's also one of Citi's key markets. We're making serious investments here—from our flagship branch in Foggy Bottom to this new branch in the heart of D.C.'s "Golden Triangle." Anyone who knows the District will tell you locations don't get much better than this.

Second, we're designing our branches to offer the finest customer experience in the industry. Inside this branch you'll see our digital media wall, a Citibank Online computer terminal and enhanced-image envelope-free ATMs—the kinds of innovations our customers have every right to expect from the bank that pioneered the ATM.

Even better, all this technology creates a minimal impact on the environment. This branch is not only practically paperless but LEED certified. Sustainability is a factor in every decision we make and we were honored last week to be named the world's greenest bank by Bloomberg.

But at the core of the customer experience are the services we provide. At this—or any—Citi branch, customers can get cash, make deposits, open accounts, apply for credit cards or mortgages and take care of the needs of their business.

Of all the things we do, I'm most proud of our support for small businesses.

Three years ago, we joined with the Small Business Administration to announce a commitment to lend $24 billion to America's small businesses. We're well ahead of schedule to meet that commitment. In 2012, we surpassed our goal of $8 billion for the year by $1.6 billion.

Citi is proud to serve small businesses—the backbone of our economy and our communities.

We're proud to serve the United States—our economy and our governments—in many ways.

For the federal government, we administer some $45 billion in annual flows across 50 agencies in 100 countries. At the state and local level, we underwrote some $90 billion on municipal bonds over the last two years alone. And we serve virtually every American multinational company as they hire, invest, and build at home and abroad.

I'm also pleased to be joined today by two of Citi's important partners. Capital Area Asset Builders helps low- and moderate-income individuals and families improve their money management skills, increase savings, and build wealth by investing wisely. That's right in Citi's wheelhouse.

The core of all our philanthropic activity is promoting financial inclusion—increasing access to basic financial services among unbanked and underserved. Today were pledging $65,000 to CAAB to continue their vital work.

And we're announcing Citi's corporate sponsorship of the National Symphony Orchestra. The Kennedy Center is one of Washington's—and America's—premier cultural institutions. It's part of the fabric of this community. And Citi is committed to supporting the communities we serve.

I thank everyone for coming today—especially our dedicated people who make this branch experience second to none. And I'm grateful to everyone here from CAAB and the Kennedy Center—both for the great work you do and for being such terrific partners to Citi.

Thank you.

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