Citibank Rt., a member of Citigroup, today announced that it increased its after-tax profits by 28% from HUF 8.8 billion in 2002 to HUF 11.3 billion in 2003. Total assets increased from HUF 319.2 billion to HUF 363.4 billion, representing a 14% increase. Total loan portfolio was HUF 164.7 billion and deposits were HUF 244.2 billion Return on equity (ROE) was 30.47%, and return on assets (ROA) was 3.32%.

Zdenek Turek, Citigroup Country Officer for Citibank Rt., said, "Our franchise continued to be well-balanced in terms of financials as both our corporate and consumer businesses achieved excellent results. We continued to enhance our products and services offerings and further developed our distribution network in support of our customer acquisition and to make it more convenient for our customers to do business with us. We opened two new branches in Pecs and Kecskemet respectively in 2003, two important economic and cultural centers. The number of our sales centers increased from four to eight, adding three more sites in Budapest and one in Godollo."

The corporate bank closed a large number of corporate finance and treasury deals in 2003 and the treasury department maintained the leadership position in terms of foreign exchange trading volumes and derivatives. Since the launch of the SME business in 1998, the bank's SME business has grown dynamically - the number of customers increasing by an average of 40% year-on-year to reach more than 10,000 at the end of 2003. The bank's securities business was named number 1 Clearing Agent by Global Investor magazine. It continued to lead the market in terms of market share and we have plans to grow the business even further in 2004. New international clients were won last year and the HUF correspondent banking business grew successfully through the acquisition of new custody customers.

The bank organized a series of seminars and conferences for their corporate and CitiGold customers, where Citigroup market analysts, banking professionals and independent experts provided financial and capital markets updates, macroeconomic overviews and outlooks. This was followed by Citibankers presenting the bank's products and services.

The number of consumer customers increased to almost 300,000 at the end of 2003. The consumer business launched the Citibank Sulinet Personal Loan, which is a loan linked to the government's Sulinet Expressz Program and offers a favorable financing to those that are entitled by law to participate in the government's computer technology purchasing program. The bank launched the Citibank Alerting service for their bank account and credit card holder customers, which provides transaction information directly to the customer's mobile phone or e-mail. Also, the Citibank Online internet banking service was enhanced to enable internet access for the more than 150,000 credit card holder customers of the bank. As an addition to the bank's rich credit cards offerings Citibank launched the Shell-Citibank co-branded card that allows SMART card holders to collect SMART points by activating and using their credit card. A major milestone in implementing the bank's investment strategy was launch of the CitiGold Wealth Planner, a software-based service unique to the Hungarian market. It supports the customers' long term financial goals through investment recommendations based on the client's individual profile. Investment products were extended by starting distribution of four Budapest mutual funds and one Credit Suisse onshore mutual fund.

In order to increase the Citibank brand awareness and help favorably position the franchise, Citibank Rt. was a major sponsor of the successful exhibition Monet and his Friends organized by the Museum of Fine Arts from December 1st, 2003 to March 15th, 2004. Thanks to this sponsorship many people from Hungary including a large number of the bank's customers and students from the bank's partner schools could admire the more than 100 works of art by the famous Impressionist painters of the 19th-20th century.

The bank continued the charity programs that showed the bank's commitment to being an active and supportive member of the local communities in which they do business. The bank continued the Citibank School Charity Program launched in 2001 in partnership with Junior Achievement Hungary. The Citigroup Foundation donated at total of $260,000 in the last three years, which went towards providing teaching materials to more than 35,000 students in 70 elementary schools across Hungary. Thirty secondary school students and 30 economics teachers took part in the traditional annual 'Economics for Leaders' summer program in Hungary, which was also sponsored by the Citigroup Foundation. The Scholarship Committee distributed the first scholarship under the Felkai Andras Academic Award Program, supporting Adam Kormendi, a young talented graduate of the Budapest University of Economics, in continuing his studies. The bank also continued the Hospital Charity Program by supporting the Svabhegy State Children's Health Institute. Through Friends of Franz Liszt Music Academy, Citibank supported further education of young talented Hungarian musicians for the third year.

Major financial data for Citibank Rt. (as of December 31st, 2003, according to Hungarian Accounting Standards)

* preliminary calculation

Note to editors
Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
The Citigroup Foundation focuses its grants primarily on financial education and community development, along with arts and culture, health and human services, and the environment. Additional information may be found at: www.citigroup.com.