p110118a - Fourth Quarter 2010 Earnings Review January 18,...

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Unformatted text preview: Fourth Quarter 2010 Earnings Review January 18, 2011 Highlights 2010: Excellent progress executing our strategy Positive profits in all quarters Citigroup earned $10.6B in 2010 Continued attracting talent to the franchise Continued attracting talent to the franchise Citi Holdings assets represent less than 20% of the total Citis credit spreads improved, reflecting our financial strength The government exited its common stake in Citi Citi entered 2011 with a solid foundation for sustainable growth Citi entered 2011 with a solid foundation for sustainable growth We will continue to invest in the franchise, particularly in Emerging Markets, technology and talent 1 Economic environment remains challenging Citigroup Summary Income Statement ($MM, Except EPS) 2010 2009 2010 2009 2010 2009 Citigroup Citicorp Citi Holdings Net Revenues $86,601 $80,285 $65,560 $61,712 $19,287 $29,128 Operating Expenses 47,375 47,822 35,859 32,640 9,563 13,764 Net Credit Losses 30,859 30,741 11,789 6,155 19,070 24,585 Net LLR Build (Release) (1) (5,782) 8,263 (2,199) 2,853 (3,582) 5,411 PB&C 965 1,258 151 164 813 1,094 Credit Losses, Claims and Benefits 26,042 40,262 9,741 9,172 16,301 31,090 Income Taxes 2,233 (6,733) 4,940 4,501 (2,554) (6,878) Net Income from Cont. Ops. $10,951 $(1,066) $15,020 $15,399 $(4,023) $(8,848) Net Income $10,602 $(1,606) $14,898 $15,331 $(4,230) $(8,877) Diluted EPS $0.35 $(0.80) Managed Net Revenues (2) $86,601 $91,092 $65,560 $68,384 $19,287 $33,263 Managed Net Credit Losses (2) 30,859 42,262 11,789 13,086 19,070 29,175 Managed Provisions (2, 3) 26,042 51,783 9,741 16,103 16,301 35,680 2 (1) Includes provision for unfunded lending commitments. (2) Periods prior to 1Q'10 are on a managed basis. For additional information, see Citigroup's Fourth Quarter 2010 Quarterly Financial Data Supplement furnished as an exhibit to Form 8-K filed with the U.S. Securities and Exchange Commission on January 18, 2011. (3) Managed provisions: net loan loss reserve builds (releases), policyholder benefits and claims, plus managed net credit losses. Note: Totals may not sum due to rounding. Citigroup Summary Income Statement ($MM, Except EPS) 4Q'10 3Q'10 4Q'09 % U QoQ % U YoY Net Revenues $18,371 $20,738 $5,405 (11)% NM Operating Expenses 12,471 11,520 12,314 8% 1% Net Credit Losses 6,854 7,659 7,135 (11)% (4)% Net LLR Build (Release) (1) (2,252) (1,967) 755 (14)% NM PB&C 238 227 294 5% (19)% Credit Losses, Claims and Benefits 4,840 5,919 8,184 (18)% (41)% Income Taxes (313) 698 (7,353) NM 96% Net Income from Cont. Ops. $1,373 $2,601 $(7,740) (47)% NM Net Income $1 309 $2 168 $(7 579 (40)% NM Net Income $1,309 $2,168 $(7,579) (40)% NM Diluted EPS $0.04 $0.07 $(0.33) (43)% NM Managed GAAP Managed 4Q'10 3Q'10 4Q'09 % U QoQ % U YoY Managed Net Revenues (2) $18,371 $20,738 $7,882 (11)% NM Managed Net Credit Losses (2) 6,854 7,659 9,980 (11)% (31)% Managed Provisions (2, 3) 4 840 5 919 11 029 (18)% (56)% GAAP 3 (1) Includes provision for unfunded lending commitments. (1) Includes provision for unfunded lending commitments....
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p110118a - Fourth Quarter 2010 Earnings Review January 18,...

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