CITIGROUP INC - FORM 8-K - EX-99.2 BYLAWS - EXHIBIT 99.2

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EX-99.3 VOTING TRUST - EXHIBIT 99.3 VOTING TRUST - CITIGROUP INC	c-20210210xex993voti.htm
EX-99.1 CHARTER - EXHIBIT 99.1 - CITIGROUP INC	c-20210210xex99d1charter.htm
8-K - FORM 8-K - CITIGROUP INC	c-20210210x8k.htm

Exhibit 99.2

citi-r_2c-blu_pos_rgb

CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT		1Q21


		Page
Citigroup
Financial Summary		1
Consolidated Statement of Income		2
Consolidated Balance Sheet		3
Segment Detail
Net Revenues		4
Income, Regional Average Assets and ROA		5

Global Consumer Banking (GCB)		6
Retail Banking and Cards Key Indicators		7
North America		8 - 10
Latin America⁽¹⁾		11 - 12
Asia⁽²⁾		13 - 14
Institutional Clients Group (ICG)		15
Revenues by Business		16
Corporate / Other		17


Citigroup Supplemental Detail
Average Balances and Interest Rates		18
Deposits		19
EOP Loans		20
Consumer Loan Delinquencies and Ratios
90+ Days		21
30-89 Days		22
Allowance for Credit Losses on Loans and Unfunded Lending Commitments		23 - 24
Components of Provision for Credit Losses on Loans		25
Non-Accrual Assets		26
CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity,		27
Book Value Per Share and Tangible Book Value Per Share

(1)	Latin America GCB consists of Citi's consumer banking operations in Mexico.

(2)	Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented.

CITIGROUP FINANCIAL SUMMARY

(In millions of dollars, except per share amounts and as otherwise noted)

	1Q		2Q		3Q		4Q		1Q		1Q21 Increase/ (Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20
Total revenues, net of interest expense	$	20,731	$	19,766	$	17,302	$	16,499	$	19,327	17%	(7%)
Total operating expenses		10,643		10,460		10,964		11,104		11,073	-	4%
Net credit losses (NCLs)		2,059		2,161		1,919		1,472		1,748	19%	(15%)
Credit reserve build / (release) for loans		4,318		5,829		12		(1,848)		(3,227)	(75%)	NM
Provision / (release) for unfunded lending commitments		557		113		424		352		(626)	NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		26		94		29		(22)		50	NM	92%
Provisions for credit losses and for benefits and claims		6,960		8,197		2,384		(46)		(2,055)	NM	NM
Income from continuing operations before income taxes		3,128		1,109		3,954		5,441		10,309	89%	NM
Income taxes⁽³⁾		580		52		777		1,116		2,332	NM	NM
Income from continuing operations		2,548		1,057		3,177		4,325		7,977	84%	NM
Income (loss) from discontinued operations, net of taxes		(18)		(1)		(7)		6		(2)	NM	89%
Net income before noncontrolling interests		2,530		1,056		3,170		4,331		7,975	84%	NM
Net income (loss) attributable to noncontrolling interests		(6)		-		24		22		33	50%	NM
Citigroup's net income	$	2,536	$	1,056	$	3,146	$	4,309	$	7,942	84%	NM

Diluted earnings per share⁽²⁾:
Income from continuing operations	$	1.06	$	0.38	$	1.36	$	1.92	$	3.62	89%	NM
Citigroup's net income	$	1.06	$	0.38	$	1.36	$	1.92	$	3.62	89%	NM
Shares (in millions)⁽²⁾:
Average basic		2,097.9		2,081.7		2,081.8		2,081.9		2,082.0	-	(1%)
Average diluted		2,113.7		2,084.3		2,094.3		2,095.7		2,096.6	-	(1%)
Common shares outstanding, at period end		2,081.8		2,081.9		2,082.0		2,082.1		2,067.0	(1%)	(1%)

Preferred dividends	$	291	$	253	$	284	$	267	$	292	9%	-

Income allocated to unrestricted common shareholders - basic
Income from continuing operations	$	2,242	$	793	$	2,851	$	4,014	$	7,586	89%	NM
Citigroup's net income	$	2,224	$	792	$	2,844	$	4,020	$	7,584	89%	NM

Income allocated to unrestricted common shareholders – diluted⁽²⁾
Income from continuing operations	$	2,249	$	793	$	2,858	$	4,021	$	7,593	89%	NM
Citigroup's net income	$	2,231	$	792	$	2,851	$	4,027	$	7,591	89%	NM

Regulatory capital ratios and performance metrics⁽³⁾:
Common Equity Tier 1 (CET1) Capital ratio⁽⁴⁾⁽⁵⁾		11.11%		11.50%		11.66%		11.73%		11.7%
Tier 1 Capital ratio⁽⁴⁾⁽⁵⁾		12.54%		12.98%		13.15%		13.31%		13.4%
Total Capital ratio⁽⁴⁾⁽⁵⁾		14.97%		15.45%		15.54%		15.61%		15.6%
Supplementary Leverage ratio (SLR)^(4)(5)(6)		5.96%		6.64%		6.82%		7.00%		7.0%
Return on average assets		0.49%		0.19%		0.55%		0.75%		1.39%
Return on average common equity		5.2%		1.8%		6.5%		9.1%		17.2%
Efficiency ratio (total operating expenses/total revenues, net)		51.3%		52.9%		63.4%		67.3%		57.3%

Balance sheet data (in billions of dollars, except per share amounts)⁽³⁾:
Total assets	$	2,220.1	$	2,232.8	$	2,234.5	$	2,260.1	$	2,314.3	2%	4%
Total average assets		2,079.7		2,266.6		2,259.4		2,299.3		2,316.8	1%	11%
Total deposits		1,184.9		1,233.7		1,262.6		1,280.7		1,301.0	2%	10%
Citigroup's stockholders' equity		192.7		191.7		193.9		199.4		202.5	2%	5%
Book value per share		83.92		83.45		84.48		86.43		88.18	2%	5%
Tangible book value per share⁽⁷⁾		71.69		71.20		71.95		73.67		75.50	2%	5%

Direct staff (in thousands)		201		204		209		210		211	-	5%

(1)

In 4Q20, Citi revised the 2Q20 accounting conclusion from a "change in accounting estimate effected by a change in accounting principle" to a "change in accounting principle", which requires an adjustment to January 1, 2020 opening retained earnings, rather than net income. As a result, Citi`s full year and quarterly results for 2020 have been revised to reflect this change as if it were effective as of January 1, 2020. Citi recorded an increase to its beginning retained earnings on January 1, 2020 of $330 million and a decrease of $443 million in its allowance for credit losses on loans, as well as a $113 million increase in Other assets related to income taxes, and recorded a decrease of $18 million ($7 million in GCB NA Citi-branded cards, ($16) million in GCB NA Citi retail services, $9 million in GCB Latin America, and ($18) million in GCB Asia ) to its provisions for credit losses on loans in 1Q20 and increase of $339 million ($182 million in GCB NA Citi-branded cards, $158 million in GCB NA Citi retail services, $7 million in GCB Latin America, and $(8) million in GCB Asia), and $122 million ($3 million in GCB NA Citi-branded cards, $50 million in GCB Latin America, and $69 million in GCB Asia) to its provisions for credit losses on loans in 2Q20 and 3Q20, respectively. In addition, Citi`s operating expenses increased by $49 million ($14 million in GCB NA Citi-branded cards, $22 million in GCB NA Citi retail services, $6 million in GCB Latin America, and $7 million in GCB Asia), and $45 million, ($15 million in GCB NA Citi-branded cards, $21 million in GCB NA Citi retail services, $4 million in GCB Latin America, and $5 million in GCB Asia) with a corresponding decrease in net credit losses, in 1Q20 and 2Q20, respectively.

(2)

Certain securities are excluded from the second quarter of 2020 diluted EPS calculation because they were anti-dilutive. Year-to-date EPS will not equal the sum of the individual quarters because the year-to-date EPS calculation is a separate calculation.

(3)

1Q21 is preliminary.

(4)

Citi's reportable CET1 Capital, Tier 1 Capital and Total Capital ratios were derived under the U.S. Basel III Advanced Approaches framework for all periods presented. The reportable ratios represent the lower of each of the three risk-based capital ratios (CET1 Capital, Tier 1 Capital and Total Capital) under both the Standardized Approach and the Advanced Approaches under the Collins Amendment. For the composition of Citi's CET1 Capital and ratio, see page 27.

(5)

Citi has elected to apply the modified transition provision related to the impact of the CECL accounting standard on regulatory capital, as provided by the U.S. banking agencies’ September 2020 final rule. For additional information, see "Capital Resources" in Citi's 2020 Form 10-K.

(6)

For the composition of Citi's SLR, see page 27.

(7)

Tangible book value per share is a non-GAAP financial measure. For a reconciliation of this measure to reported results, see page 27.

Note: Ratios and variance percentages are calculated based on the displayed amounts. Due to averaging and roundings, quarterly earnings per share may not sum to the YTD totals.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

	1Q		2Q		3Q		4Q		1Q		1Q21 Increase/ (Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20

Revenues
Interest revenue	$	17,139	$	14,589	$	13,314	$	13,047	$	12,534	(4%)	(27%)
Interest expense		5,647		3,509		2,821		2,564		2,368	(8%)	(58%)
Net interest revenue		11,492		11,080		10,493		10,483		10,166	(3%)	(12%)

Commissions and fees		3,021		2,933		2,753		2,678		3,670	37%	21%
Principal transactions		5,261		4,157		2,508		1,959		3,913	100%	(26%)
Administrative and other fiduciary fees		854		819		892		907		961	6%	13%
Realized gains (losses) on investments		432		748		304		272		401	47%	(7%)
Impairment losses on investments and other assets		(55)		(69)		(30)		(11)		(69)	NM	(25%)
Provision for credit losses on AFS debt securities⁽²⁾		-		(8)		4		1		-	(100%)	-
Other revenue (loss)		(274)		106		378		210		285	36%	NM
Total non-interest revenues		9,239		8,686		6,809		6,016		9,161	52%	(1%)
Total revenues, net of interest expense		20,731		19,766		17,302		16,499		19,327	17%	(7%)


Provisions for credit losses and for benefits and claims
Net credit losses		2,059		2,161		1,919		1,472		1,748	19%	(15%)
Credit reserve build / (release) for loans		4,318		5,829		12		(1,848)		(3,227)	(75%)	NM
Provision for credit losses on loans		6,377		7,990		1,931		(376)		(1,479)	NM	NM
Provision for credit losses on held-to-maturity (HTM) debt securities		6		31		(16)		(14)		(11)	21%	NM
Provision for credit losses on other assets		(4)		48		(13)		(24)		9	NM	NM
Policyholder benefits and claims		24		15		58		16		52	NM	NM
Provision for credit losses on unfunded lending commitments		557		113		424		352		(626)	NM	NM
Total provisions for credit losses and for benefits and claims		6,960		8,197		2,384		(46)		(2,055)	NM	NM

Operating expenses
Compensation and benefits		5,654		5,624		5,595		5,341		6,001	12%	6%
Premises and equipment		565		562		575		631		576	(9%)	2%
Technology / communication		1,723		1,741		1,891		2,028		1,852	(9%)	7%
Advertising and marketing		328		299		238		352		270	(23%)	(18%)
Other operating		2,373		2,234		2,665		2,752		2,374	(14%)	-
Total operating expenses		10,643		10,460		10,964		11,104		11,073	-	4%

Income from continuing operations before income taxes		3,128		1,109		3,954		5,441		10,309	89%	NM
Provision for income taxes		580		52		777		1,116		2,332	NM	NM

Income (loss) from continuing operations		2,548		1,057		3,177		4,325		7,977	84%	NM
Discontinued operations
Income (loss) from discontinued operations		(18)		(1)		(7)		6		(2)	NM	89%
Provision (benefit) for income taxes		-		-		-		-		-	-	-
Income (loss) from discontinued operations, net of taxes		(18)		(1)		(7)		6		(2)	NM	89%

Net income before noncontrolling interests		2,530		1,056		3,170		4,331		7,975	84%	NM

Net income (loss) attributable to noncontrolling interests		(6)		-		24		22		33	50%	NM
Citigroup's net income	$	2,536	$	1,056	$	3,146	$	4,309	$	7,942	84%	NM

(1)	See footnote1 on page 1.

(2)	In accordance with ASC 326.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

											1Q21 Increase/
	March 31,		June 30,		September 30,		December 31,		March 31,		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021⁽²⁾		4Q20	1Q20
Assets
Cash and due from banks (including segregated cash and other deposits)	$	23,755	$	22,889	$	25,308	$	26,349	$	26,204	(1%)	10%
Deposits with banks, net of allowance		262,165		286,884		298,387		283,266		298,478	5%	14%
Securities borrowed and purchased under agreements to resell, net of allowance		262,536		282,917		289,358		294,712		315,072	7%	20%
Brokerage receivables, net of allowance		68,555		51,633		51,610		44,806		60,465	35%	(12%)
Trading account assets		365,000		362,311		348,209		375,079		360,659	(4%)	(1%)
Investments
Available-for-sale debt securities, net of allowance		308,219		342,256		343,690		335,084		304,036	(9%)	(1%)
Held-to-maturity debt securities, net of allowance		82,315		83,332		96,065		104,943		161,742	54%	96%
Equity securities		8,349		7,665		7,769		7,332		7,181	(2%)	(14%)
Total investments		398,883		433,253		447,524		447,359		472,959	6%	19%
Loans, net of unearned income
Consumer		288,430		281,113		280,025		288,839		274,034	(5%)	(5%)
Corporate		432,590		404,179		386,886		387,044		391,954	1%	(9%)
Loans, net of unearned income		721,020		685,292		666,911		675,883		665,988	(1%)	(8%)
Allowance for credit losses on loans (ACLL)		(20,380)		(26,298)		(26,426)		(24,956)		(21,638)	13%	(6%)
Total loans, net		700,640		658,994		640,485		650,927		644,350	(1%)	(8%)
Goodwill		21,264		21,399		21,624		22,162		21,905	(1%)	3%
Intangible assets (including MSRs)		4,560		4,451		4,804		4,747		4,741	-	4%
Other assets, net of allowance		112,756		108,068		107,150		110,683		109,433	(1%)	(3%)
Total assets	$	2,220,114	$	2,232,799	$	2,234,459	$	2,260,090	$	2,314,266	2%	4%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	113,371	$	115,386	$	121,183	$	126,942	$	138,192	9%	22%
Interest-bearing deposits in U.S. offices		462,327		490,823		497,487		503,213		497,335	(1%)	8%
Total U.S. deposits		575,698		606,209		618,670		630,155		635,527	1%	10%
Non-interest-bearing deposits in offices outside the U.S.		85,439		87,479		94,208		100,543		101,662	1%	19%
Interest-bearing deposits in offices outside the U.S.		523,774		539,972		549,745		549,973		563,786	3%	8%
Total international deposits		609,213		627,451		643,953		650,516		665,448	2%	9%

Total deposits		1,184,911		1,233,660		1,262,623		1,280,671		1,300,975	2%	10%
Securities loaned and sold under agreements to resell		222,324		215,722		207,227		199,525		219,168	10%	(1%)
Brokerage payables		74,368		60,567		54,328		50,484		60,907	21%	(18%)
Trading account liabilities		163,995		149,264		146,990		168,027		179,117	7%	9%
Short-term borrowings		54,951		40,156		37,439		29,514		32,087	9%	(42%)
Long-term debt		266,098		279,775		273,254		271,686		256,335	(6%)	(4%)
Other liabilities⁽³⁾		60,141		61,269		58,003		59,983		62,404	4%	4%
Total liabilities	$	2,026,788	$	2,040,413	$	2,039,864	$	2,059,890	$	2,110,993	2%	4%

Equity
Stockholders' equity
Preferred stock	$	17,980	$	17,980	$	17,980	$	19,480	$	20,280	4%	13%
Common stock		31		31		31		31		31	-	-
Additional paid-in capital		107,550		107,668		107,764		107,846		107,694	-	-
Retained earnings		163,782		163,515		165,303		168,272		174,816	4%	7%
Treasury stock, at cost		(64,147)		(64,143)		(64,137)		(64,129)		(65,261)	(2%)	(2%)
Accumulated other comprehensive income (loss) (AOCI)		(32,521)		(33,345)		(33,065)		(32,058)		(35,011)	(9%)	(8%)
Total common equity	$	174,695	$	173,726	$	175,896	$	179,962	$	182,269	1%	4%

Total Citigroup stockholders' equity	$	192,675	$	191,706	$	193,876	$	199,442	$	202,549	2%	5%
Noncontrolling interests		651		680		719		758		724	(4%)	11%
Total equity		193,326		192,386		194,595		200,200		203,273	2%	5%
Total liabilities and equity	$	2,220,114	$	2,232,799	$	2,234,459	$	2,260,090	$	2,314,266	2%	4%

(1)	See footnote1 on page 1.

(2)	Preliminary.

(3)	Includes allowance for credit losses for unfunded lending commitments. See page 23 for amounts by period.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 3

SEGMENT DETAIL

NET REVENUES

(In millions of dollars)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Global Consumer Banking
North America	$	5,224	$	4,742	$	4,527	$	4,655	$	4,428	(5%)	(15%)
Latin America		1,199		1,050		1,027		1,096		1,008	(8%)	(16%)
Asia⁽¹⁾		1,751		1,547		1,619		1,554		1,601	3%	(9%)
Total		8,174		7,339		7,173		7,305		7,037	(4%)	(14%)

Institutional Clients Group
North America		4,947		4,987		3,920		3,331		4,898	47%	(1%)
EMEA		3,470		3,392		3,085		2,867		3,713	30%	7%
Latin America		1,418		1,207		1,141		1,072		1,136	6%	(20%)
Asia		2,649		2,551		2,207		2,009		2,473	23%	(7%)
Total		12,484		12,137		10,353		9,279		12,220	32%	(2%)

Corporate / Other		73		290		(224)		(85)		70	NM	(4%)

Total Citigroup - net revenues	$	20,731	$	19,766	$	17,302	$	16,499	$	19,327	17%	(7%)

(1)	Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 4

SEGMENT DETAIL

INCOME

(In millions of dollars)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20
Income (loss) from continuing operations

Global Consumer Banking
North America	$	(916)	$	(721)	$	690	$	1,006	$	1,857	85%	NM
Latin America		(29)		13		117		176		53	(70%)	NM
Asia ⁽²⁾		204		50		167		117		264	NM	29%
Total		(741)		(658)		974		1,299		2,174	67%	NM

Institutional Clients Group
North America		896		660		1,058		847		2,798	NM	NM
EMEA		1,035		493		893		906		1,476	63%	43%
Latin America		526		(194)		108		966		646	(33%)	23%
Asia		1,169		921		860		654		1,052	61%	(10%)
Total		3,626		1,880		2,919		3,373		5,972	77%	65%

Corporate / Other		(337)		(165)		(716)		(347)		(169)	51%	50%

Income from continuing operations	$	2,548	$	1,057	$	3,177	$	4,325	$	7,977	84%	NM

Discontinued operations		(18)		(1)		(7)		6		(2)	NM	89%

Net income attributable to noncontrolling interests		(6)		-		24		22		33	50%	NM

Total Citigroup - net income	$	2,536	$	1,056	$	3,146	$	4,309	$	7,942	84%	NM

Average assets (in billions)
North America	$	1,113	$	1,256	$	1,245	$	1,262	$	1,261	-	13%
EMEA⁽²⁾		378		412		412		419		434	4%	15%
Latin America		129		128		129		129		124	(4%)	(4%)
Asia⁽²⁾		366		378		380		393		407	4%	11%
Corporate / Other		94		93		93		96		91	(5%)	(3%)
Total	$	2,080	$	2,267	$	2,259	$	2,299	$	2,317	1%	11%

Return on average assets (ROA) on net income (loss)
North America		0.00%		(0.02%)		0.56%		0.58%		1.50%
EMEA⁽²⁾		1.09%		0.48%		0.84%		0.85%		1.34%
Latin America		1.55%		(0.57%)		0.69%		3.52%		2.29%
Asia⁽²⁾		1.51%		1.04%		1.08%		0.78%		1.31%
Corporate / Other		(1.50%)		(0.70%)		(3.09%)		(1.42%)		(0.76%)
Total		0.49%		0.19%		0.55%		0.75%		1.39%

(1)	See footnote1 on page 1.

(2)	Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 5

GLOBAL CONSUMER BANKING

Page 1

(In millions of dollars, except as otherwise noted)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20
Net interest revenue	$	7,072	$	6,534	$	6,251	$	6,343	$	5,953	(6%)	(16%)
Non-interest revenue		1,102		805		922		962		1,084	13%	(2%)
Total revenues, net of interest expense		8,174		7,339		7,173		7,305		7,037	(4%)	(14%)
Total operating expenses		4,417		4,058		4,217		4,511		4,396	(3%)	-
Net credit losses on loans		1,934		1,842		1,598		1,272		1,580	24%	(18%)
Credit reserve build / (release) for loans		2,811		2,299		34		(193)		(1,806)	NM	NM
Provision for credit losses on unfunded lending commitments		(1)		-		5		(4)		-	100%	100%
Provisions for benefits and claims, HTM debt securities and other assets		20		38		45		2		35	NM	75%
Provisions for credit losses and for benefits and claims (PBC)		4,764		4,179		1,682		1,077		(191)	NM	NM
Income (loss) from continuing operations before taxes		(1,007)		(898)		1,274		1,717		2,832	65%	NM
Income taxes (benefits)		(266)		(240)		300		418		658	57%	NM
Income (loss) from continuing operations		(741)		(658)		974		1,299		2,174	67%	NM
Noncontrolling interests		(1)		(2)		-		(1)		(3)	NM	NM
Net income (loss)	$	(740)	$	(656)	$	974	$	1,300	$	2,177	67%	NM
EOP assets (in billions)	$	403	$	423	$	435	$	434	$	439	1%	9%
Average assets (in billions)		406		418	$	434	$	447		439	(2%)	8%
Return on average assets		(0.73%)		(0.63%)		0.89%		1.16%		2.01%
Efficiency ratio		54%		55%		59%		62%		62%

Net credit losses as a % of average loans		2.68%		2.73%		2.33%		1.83%		2.36%

Revenue by business
Retail banking	$	3,046	$	2,836	$	2,916	$	2,936	$	2,844	(3%)	(7%)
Cards ⁽²⁾		5,128		4,503		4,257		4,369		4,193	(4%)	(18%)
Total	$	8,174	$	7,339	$	7,173	$	7,305	$	7,037	(4%)	(14%)

Net credit losses on loans by business
Retail banking	$	230	$	200	$	190	$	185	$	274	48%	19%
Cards ⁽²⁾		1,704		1,642		1,408		1,087		1,306	20%	(23%)
Total	$	1,934	$	1,842	$	1,598	$	1,272	$	1,580	24%	(18%)

Income from continuing operations by business
Retail banking	$	127	$	71	$	312	$	234	$	261	12%	NM
Cards ⁽²⁾		(868)		(729)		662		1,065		1,913	80%	NM
Total	$	(741)	$	(658)	$	974	$	1,299	$	2,174	67%	NM

Foreign currency (FX) translation impact
Total revenue - as reported	$	8,174	$	7,339	$	7,173	$	7,305	$	7,037	(4%)	(14%)
Impact of FX translation ⁽³⁾		69		175		104		2		-
Total revenues - Ex-FX ⁽³⁾	$	8,243	$	7,514	$	7,277	$	7,307	$	7,037	(4%)	(15%)

Total operating expenses – as reported	$	4,417	$	4,058	$	4,217	$	4,511	$	4,396	(3%)	-
Impact of FX translation ⁽³⁾		44		105		66		3		-
Total operating expenses - Ex-FX ⁽³⁾	$	4,461	$	4,163	$	4,283	$	4,514	$	4,396	(3%)	(1%)

Total provisions for credit losses & PBC - as reported	$	4,764	$	4,179	$	1,682	$	1,077	$	(191)	NM	NM
Impact of FX translation ⁽³⁾		20		73		16		-		-
Total provisions for credit losses & PBC - Ex-FX ⁽³⁾	$	4,784	$	4,252	$	1,698	$	1,077	$	(191)	NM	NM

Net income (loss) – as reported	$	(740)	$	(656)	$	974	$	1,300	$	2,177	67%	NM
Impact of FX translation ⁽³⁾		3		(4)		15		(1)		-
Total net income (loss) - Ex-FX ⁽³⁾	$	(737)	$	(660)	$	989	$	1,299	$	2,177	68%	NM

(1)	See footnote1 on page 1.

(2)	Includes both Citi-Branded Cards and Citi Retail Services.

(3)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the first quarter of 2021 average exchange rates for all periods presented. Citigroup's results of operations excluding the impact of FX translation are non-GAAP financial measures.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 6

GLOBAL CONSUMER BANKING

Page 2


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		2,336		2,329		2,323		2,305		2,241	(3%)	(4%)
Accounts (in millions)		55.9		55.5		55.5		53.7		52.9	(1%)	(5%)
Average deposits	$	290.1	$	301.9	$	319.8	$	333.2	$	345.3	4%	19%
Investment sales		29.6		25.6		30.2		29.2		38.4	32%	30%
Investment assets under management (AUMs):
AUMS		138.1		153.9		163.5		180.8		183.2	1%	33%
AUMs related to the LATAM retirement services business		29.1		33.0		35.9		40.8		39.2	(4%)	35%
Total AUMs	$	167.2	$	186.9	$	199.4	$	221.6	$	222.4	-	33%
Average loans		123.1		121.8		125.6		127.6		127.4	-	3%
EOP loans:
Mortgages	$	83.6	$	86.0	$	87.5	$	88.9	$	86.7	(2%)	4%
Personal, small business and other		36.6		37.6		38.3		40.1		39.1	(2%)	7%
EOP loans	$	120.2	$	123.6	$	125.8	$	129.0	$	125.8	(2%)	5%

Total net interest revenue (in millions)⁽¹⁾	$	1,981	$	1,918	$	1,898	$	1,900	$	1,778	(6%)	(10%)
As a % of average loans		6.47%		6.33%		6.01%		5.92%		5.66%

Net credit losses on loans (in millions)	$	230	$	200	$	190	$	185	$	274	48%	19%
As a % of average loans		0.75%		0.66%		0.60%		0.58%		0.87%
Loans 90+ days past due (in millions)⁽²⁾	$	429	$	497	$	497	$	632	$	598	(5%)	39%
As a % of EOP loans		0.36%		0.40%		0.40%		0.49%		0.48%
Loans 30-89 days past due (in millions)⁽²⁾	$	794	$	918	$	786	$	860	$	662	(23%)	(17%)
As a % of EOP loans		0.66%		0.75%		0.63%		0.67%		0.53%

Cards key indicators (in millions of dollars, except as otherwise noted)
EOP open accounts (in millions)		137.3		134.6		132.8		131.8		130.2	(1%)	(5%)
Purchase sales (in billions)	$	127.6	$	108.3	$	127.1	$	141.9	$	128.3	(10%)	1%

Average loans (in billions)⁽³⁾		167.2		149.7		146.8		148.5		144.3	(3%)	(14%)
EOP loans (in billions)⁽³⁾		159.1		149.0		146.6		153.1		142.1	(7%)	(11%)
Average yield⁽⁴⁾		13.59%		13.40%		12.83%		12.65%		12.65%
Total net interest revenue⁽⁵⁾	$	5,091	$	4,616	$	4,353	$	4,443	$	4,175	(6%)	(18%)
As a % of average loans⁽⁵⁾		12.25%		12.40%		11.80%		11.90%		11.73%
Net credit losses on loans	$	1,704	$	1,642	$	1,408	$	1,087	$	1,306	20%	(23%)
As a % of average loans		4.10%		4.41%		3.82%		2.91%		3.67%
Net credit margin⁽⁶⁾	$	3,422	$	2,853	$	2,852	$	3,290	$	2,899	(12%)	(15%)
As a % of average loans⁽⁶⁾		8.23%		7.67%		7.73%		8.81%		8.15%
Loans 90+ days past due⁽⁷⁾	$	2,174	$	1,969	$	1,479	$	1,875	$	1,577	(16%)	(27%)
As a % of EOP loans		1.37%		1.32%		1.01%		1.22%		1.11%
Loans 30-89 days past due⁽⁷⁾	$	2,076	$	1,585	$	1,612	$	1,657	$	1,341	(19%)	(35%)
As a % of EOP loans		1.30%		1.06%		1.10%		1.08%		0.94%

(1)	Also includes net interest revenue related to the average deposit balances in excess of the average loan portfolio.

(2)	The Loans 90+ days past due and 30-89 days past due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies. See footnote 2 on page 9.

(3)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)	Average yield is gross interest revenue earned on loans divided by average loans.

(5)	Net interest revenue includes certain fees that are recorded as interest revenue.

(6)	Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

(7)

The decrease in loans 90+ days past due as of September 30, 2020 and the decrease in loans 30-89 days past due beginning at June 30, 2020, include the impact of loan modifications in North America and Latin America that were implemented during the second quarter of 2020 related to various COVID-19 consumer relief programs.

Reclassified to conform to the current period’s presentation.

Page 7

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 1

(In millions of dollars, except as otherwise noted)


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20

Net interest revenue	$	5,036	$	4,707	$	4,500	$	4,559	$	4,307	(6%)	(14%)
Non-interest revenue		188		35		27		96		121	26%	(36%)
Total revenues, net of interest expense		5,224		4,742		4,527		4,655		4,428	(5%)	(15%)
Total operating expenses		2,572		2,382		2,444		2,544		2,478	(3%)	(4%)
Net credit losses on loans		1,490		1,448		1,182		870		950	9%	(36%)
Credit reserve build / (release) for loans		2,371		1,839		(10)		(85)		(1,417)	NM	NM
Provision for credit losses on unfunded lending commitments		(1)		-		5		(4)		-	100%	100%
Provisions for benefits and claims, HTM debt securities and other assets		5		19		(6)		(1)		2	NM	(60%)
Provisions for credit losses and for benefits and claims		3,865		3,306		1,171		780		(465)	NM	NM
Income (loss) from continuing operations before taxes		(1,213)		(946)		912		1,331		2,415	81%	NM
Income taxes (benefits)		(297)		(225)		222		325		558	72%	NM
Income (loss) from continuing operations		(916)		(721)		690		1,006		1,857	85%	NM
Noncontrolling interests		-		-		-		-		-	-	-
Net income (loss)	$	(916)	$	(721)	$	690	$	1,006	$	1,857	85%	NM
Average assets (in billions)	$	246	$	264	$	274	$	278	$	265	(5%)	8%
Return on average assets		(1.50%)		(1.10%)		1.00%		1.44%		2.84%
Efficiency ratio		49%		50%		54%		55%		56%

Net credit losses as a % of average loans		3.10%		3.22%		2.63%		1.93%		2.21%

Revenue by business
Retail banking	$	1,130	$	1,122	$	1,113	$	1,092	$	1,041	(5%)	(8%)
Citi-branded cards		2,347		2,218		2,061		2,132		2,091	(2%)	(11%)
Citi retail services		1,747		1,402		1,353		1,431		1,296	(9%)	(26%)
Total	$	5,224	$	4,742	$	4,527	$	4,655	$	4,428	(5%)	(15%)

Net credit losses on loans by business
Retail banking	$	37	$	33	$	31	$	31	$	26	(16%)	(30%)
Citi-branded cards		781		780		647		500		551	10%	(29%)
Citi retail services		672		635		504		339		373	10%	(44%)
Total	$	1,490	$	1,448	$	1,182	$	870	$	950	9%	(36%)

Income (loss) from continuing operations by business
Retail banking	$	(73)	$	(82)	$	50	$	(39)	$	3	NM	NM
Citi-branded cards		(523)		(522)		424		642		1,119	74%	NM
Citi retail services		(320)		(117)		216		403		735	82%	NM
Total	$	(916)	$	(721)	$	690	$	1,006	$	1,857	85%	NM

(1)	See footnote1 on page 1.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 8

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 2


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)

Branches (actual)		689		689		689		689		687	-	-
Accounts (in millions)		9.1		9.1		9.1		9.1		9.1	-	-
Average deposits	$	161.3	$	172.5	$	182.1	$	188.9	$	197.0	4%	22%
Investment sales		12.4		11.0		10.9		10.6		14.6	38%	18%
Investment AUMs		62.0		69.3		73.3		80.3		81.7	2%	32%

Average loans		50.5		52.2		53.4		52.8		51.9	(2%)	3%

EOP loans:
Mortgages		47.9		48.9		49.0		49.0		46.9	(4%)	(2%)
Personal, small business and other		2.9		4.2		4.1		3.7		4.0	8%	38%
Total EOP loans	$	50.8	$	53.1	$	53.1	$	52.7	$	50.9	(3%)	-

Mortgage originations⁽¹⁾	$	4.1	$	6.4	$	6.6	$	6.6	$	5.7	(14%)	39%

Third-party mortgage servicing portfolio (EOP)		43.9		43.5		42.1		40.2		39.4	(2%)	(10%)

Net servicing and gain/(loss) on sale (in millions)		86.3		81.8		59.1		57.3		44.2	(23%)	(49%)

Saleable mortgage rate locks		2.9		2.2		3.3		2.6		2.3	(12%)	(21%)

Net interest revenue on loans (in millions)		184		179		179		174		166	(5%)	(10%)
As a % of average loans		1.47%		1.38%		1.33%		1.31%		1.30%

Net credit losses on loans (in millions)	$	37	$	33	$	31	$	31	$	26	(16%)	(30%)
As a % of average loans		0.29%		0.25%		0.23%		0.23%		0.20%

Loans 90+ days past due (in millions)⁽²⁾	$	161	$	182	$	211	$	299	$	263	(12%)	63%
As a % of EOP loans		0.32%		0.35%		0.40%		0.58%		0.52%
Loans 30-89 days past due (in millions)⁽²⁾	$	298	$	440	$	378	$	328	$	220	(33%)	(26%)
As a % of EOP loans		0.59%		0.84%		0.72%		0.63%		0.44%

(1)	Originations of residential first mortgages.

(2)	The loans 90+ days past due and 30-89 days past due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) were $124 million and ($0.5 billion), $130 million and ($0.5 billion), $148 million and ($0.6 billion), $171 million and ($0.7 billion), and $176 million and ($0.7 billion) as of March 31, 2020, June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021, respectively.

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) were $64 million and ($0.5 billion), $86 million and ($0.5 billion), $88 million and ($0.6 billion), $98 million and ($0.7 billion), and $84 million and ($0.7 billion) as of March 31, 2020, June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 9

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 3


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20

Citi-Branded Cards Key Indicators (in millions of dollars, except as otherwise noted)⁽¹⁾
EOP open accounts (in millions)		35.0		34.6		34.5		34.5		34.5	-	(1%)
Purchase sales (in billions)	$	85.8	$	73.8	$	85.5	$	93.2	$	85.8	(8%)	-
Average loans (in billions)⁽¹⁾		92.3		82.6		81.2		81.7		78.7	(4%)	(15%)
EOP loans (in billions)⁽¹⁾		88.4		82.6		81.1		84.0		78.5	(7%)	(11%)
Average yield⁽²⁾		10.86%		10.73%		10.33%		10.19%		10.30%	1%	(5%)

Total net interest revenue⁽³⁾	$	2,142	$	2,003	$	1,906	$	1,916	$	1,830	(4%)	(15%)
As a % of average loans⁽³⁾		9.33%		9.75%		9.34%		9.33%		9.43%
Net credit losses on loans	$	781	$	780	$	647	$	500	$	551	10%	(29%)
As a % of average loans		3.40%		3.80%		3.17%		2.43%		2.84%
Net credit margin⁽⁴⁾	$	1,564	$	1,432	$	1,412	$	1,630	$	1,541	(5%)	(1%)
As a % of average loans⁽⁴⁾		6.82%		6.97%		6.92%		7.94%		7.94%
Loans 90+ days past due	$	891	$	784	$	574	$	686	$	590	(14%)	(34%)
As a % of EOP loans		1.01%		0.95%		0.71%		0.82%		0.75%
Loans 30-89 days past due⁽⁵⁾	$	770	$	594	$	624	$	589	$	484	(18%)	(37%)
As a % of EOP loans		0.87%		0.72%		0.77%		0.70%		0.62%


Citi Retail Services Key Indicators (in millions of dollars, except as otherwise noted)⁽¹⁾
EOP open accounts		81.9		80.1		78.6		77.9		76.6	(2%)	(6%)
Purchase sales (in billions)	$	18.0	$	16.9	$	19.9	$	23.4	$	18.7	(20%)	4%
Average loans (in billions)⁽¹⁾		50.5		46.2		44.5		44.9		43.8	(2%)	(13%)
EOP loans (in billions)⁽¹⁾		48.9		45.4		44.4		46.4		42.5	(8%)	(13%)
Average yield⁽²⁾		17.78%		17.29%		16.86%		16.73%		16.61%	(1%)	(7%)

Total net interest revenue⁽³⁾	$	2,119	$	1,887	$	1,788	$	1,861	$	1,744	(6%)	(18%)
As a % of average loans⁽³⁾		16.88%		16.43%		15.98%		16.49%		16.15%
Net credit losses on loans	$	672	$	635	$	504	$	339	$	373	10%	(44%)
As a % of average loans		5.35%		5.53%		4.51%		3.00%		3.45%
Net credit margin⁽⁴⁾	$	1,070	$	762	$	846	$	1,091	$	920	(16%)	(14%)
As a % of average loans⁽⁴⁾		8.52%		6.63%		7.56%		9.67%		8.52%
Loans 90+ days past due⁽⁵⁾	$	958	$	811	$	557	$	644	$	591	(8%)	(38%)
As a % of EOP loans		1.96%		1.79%		1.25%		1.39%		1.39%
Loans 30-89 days past due⁽⁵⁾	$	903	$	611	$	610	$	639	$	513	(20%)	(43%)
As a % of EOP loans		1.85%		1.35%		1.37%		1.38%		1.21%

(1)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2)	Average yield is calculated as gross interest revenue earned on loans divided by average loans.

(3)	Net interest revenue includes certain fees that are recorded as interest revenue.

(4)	Net credit margin represents total revenues, net of interest expense, less net credit losses and policy benefits and claims.

(5)	The decrease in loans 90+ days past due as of September 30, 2020 and the decrease in loans 30-89 days past due beginning at June 30, 2020, include the impact of loan modifications that were implemented during the second quarter of 2020 related to various COVID-19 consumer relief programs.

Reclassified to conform to the current period's presentation.

Page 10

GLOBAL CONSUMER BANKING

LATIN AMERICA ⁽¹⁾

Page 1

(In millions of dollars, except as otherwise noted)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽²⁾		2020⁽²⁾		2020⁽²⁾		2020		2021		4Q20	1Q20

Net interest revenue	$	887	$	755	$	697	$	739	$	658	(11%)	(26%)
Non-interest revenue⁽²⁾		312		295		330		357		350	(2%)	12%
Total revenues, net of interest expense		1,199		1,050		1,027		1,096		1,008	(8%)	(16%)
Total operating expenses		705		608		655		762		701	(8%)	(1%)
Net credit losses on loans		271		205		228		162		365	NM	35%
Credit reserve build / (release) for loans		256		209		(66)		(83)		(163)	(96%)	NM
Provision for credit losses on unfunded lending commitments		-		-		-		-		-	-	-
Provisions for benefits and claims, HTM debt securities and other assets		15		16		47		9		29	NM	93%
Provisions for credit losses and for benefits and claims (PBC)		542		430		209		88		231	NM	(57%)
Income (loss) from continuing operations before taxes		(48)		12		163		246		76	(69%)	NM
Income taxes (benefits)		(19)		(1)		46		70		23	(67%)	NM
Income (loss) from continuing operations		(29)		13		117		176		53	(70%)	NM
Noncontrolling interests		-		-		-		-		-	-	-
Net income (loss)	$	(29)	$	13	$	117	$	176	$	53	(70%)	NM
Average assets (in billions)	$	35	$	30	$	31	$	33	$	34	3%	(3%)
Return on average assets		(0.33%)		0.17%		1.50%		2.12%		0.63%
Efficiency ratio		59%		58%		64%		70%		70%

Net credit losses on loans as a percentage of average loans		6.53%		6.15%		6.67%		4.51%		10.65%

Revenue by business
Retail banking	$	783	$	705	$	737	$	784	$	723	(8%)	(8%)
Citi-branded cards		416		345		290		312		285	(9%)	(31%)
Total	$	1,199	$	1,050	$	1,027	$	1,096	$	1,008	(8%)	(16%)

Net credit losses on loans by business
Retail banking	$	127	$	92	$	90	$	68	$	168	NM	32%
Citi-branded cards		144		113		138		94		197	NM	37%
Total	$	271	$	205	$	228	$	162	$	365	NM	35%

Income from continuing operations by business
Retail banking	$	(20)	$	(4)	$	76	$	101	$	41	(59%)	NM
Citi-branded cards		(9)		17		41		75		12	(84%)	NM
Total	$	(29)	$	13	$	117	$	176	$	53	(70%)	NM

FX translation impact
Total revenue - as reported	$	1,199	$	1,050	$	1,027	$	1,096	$	1,008	(8%)	(16%)
Impact of FX translation⁽³⁾		2		109		68		(5)		-
Total revenues - Ex-FX⁽³⁾	$	1,201	$	1,159	$	1,095	$	1,091	$	1,008	(8%)	(16%)

Total operating expenses - as reported	$	705	$	608	$	655	$	762	$	701	(8%)	(1%)
Impact of FX translation⁽³⁾		1		60		41		(3)		-
Total operating expenses - Ex-FX⁽³⁾	$	706	$	668	$	696	$	759	$	701	(8%)	(1%)

Total provisions for credit losses and PBC - as reported	$	542	$	430	$	209	$	88	$	231	NM	(57%)
Impact of FX translation⁽³⁾		1		53		12		(1)		-
Total provisions for credit losses and PBC - Ex-FX⁽³⁾	$	543	$	483	$	221	$	87	$	231	NM	(57%)

Net income (loss) - as reported	$	(29)	$	13	$	117	$	176	$	53	(70%)	NM
Impact of FX translation⁽³⁾		-		(4)		10		(1)		-
Total net income (loss) - Ex-FX⁽³⁾	$	(29)	$	9	$	127	$	175	$	53	(70%)	NM

(1)	Latin America GCB consists of Citi's consumer banking operations in Mexico.

(2)	See footnote1 on page 1.

(3)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the first quarter of 2021 average exchange rates for all periods presented.

Citigroup's results of operations excluding the impact of FX translation are non-GAAP financial measures.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 11

GLOBAL CONSUMER BANKING

LATIN AMERICA

Page 2


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		1,411		1,406		1,401		1,392		1,331	(4%)	(6%)
Accounts (in millions)		29.9		29.5		29.3		27.3		26.6	(3%)	(11%)
Average deposits	$	22.9	$	20.6	$	22.5	$	24.3	$	24.5	1%	7%
Investment sales		3.7		3.1		3.5		3.7		3.1	(16%)	(16%)
Investment AUMs:
AUMS		20.1		22.2		23.4		27.1		26.9	(1%)	34%
AUMs related to the retirement services business		29.1		33.0		35.9		40.8		39.2	(4%)	35%
Total AUMs		49.2		55.2		59.3		67.9		66.1	(3%)	34%
Average loans		11.1		9.1		9.3		9.6		9.4	(2%)	(15%)
EOP loans:
Mortgages		3.7		3.7		3.8		4.0		3.8	(5%)	3%
Personal, small business and other		5.5		5.3		5.4		5.8		5.3	(9%)	(4%)
Total EOP loans	$	9.2	$	9.0	$	9.2	$	9.8	$	9.1	(7%)	(1%)

Total net interest revenue (in millions)⁽¹⁾	$	548	$	473	$	480	$	503	$	447	(11%)	(18%)
As a % of average loans⁽¹⁾		19.86%		20.91%		20.53%		20.84%		19.29%
Net credit losses on loans (in millions)	$	127	$	92	$	90	$	68	$	168	NM	32%
As a % of average loans		4.60%		4.07%		3.85%		2.82%		7.25%
Loans 90+ days past due (in millions)	$	90	$	121	$	105	$	130	$	142	9%	58%
As a % of EOP loans		0.98%		1.34%		1.14%		1.33%		1.56%
Loans 30-89 days past due (in millions)	$	140	$	151	$	136	$	220	$	164	(25%)	17%
As a % of EOP loans		1.52%		1.68%		1.48%		2.24%		1.80%

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)
EOP open accounts (in millions)		5.2		5.0		4.9		4.7		4.5	(4%)	(13%)
Purchase sales	$	4.0	$	2.6	$	3.3	$	4.4	$	3.7	(16%)	(8%)
Average loans⁽²⁾	$	5.6	$	4.3	$	4.3	$	4.7	$	4.5	(4%)	(20%)
EOP loans⁽²⁾	$	4.5	$	4.2	$	4.3	$	4.8	$	4.3	(10%)	(4%)
Average yield⁽³⁾		25.03%		25.50%		21.28%		21.01%		19.89%	(5%)	(21%)

Total net interest revenue (in millions)⁽⁴⁾	$	339	$	282	$	217	$	236	$	211	(11%)	(38%)
As a % of average loans⁽⁴⁾		24.35%		26.38%		20.08%		19.98%		19.02%
Net credit losses on loans (in millions)	$	144	$	113	$	138	$	94	$	197	NM	37%
As a % of average loans		10.34%		10.57%		12.77%		7.96%		17.75%
Net credit margin (in millions)⁽⁵⁾	$	277	$	235	$	160	$	229	$	102	(55%)	(63%)
As a % of average loans⁽⁵⁾		19.89%		21.98%		14.80%		19.38%		9.19%
Loans 90+ days past due (in millions)⁽⁶⁾	$	121	$	160	$	106	$	233	$	173	(26%)	43%
As a % of EOP loans		2.69%		3.81%		2.47%		4.85%		4.02%
Loans 30-89 days past due (in millions)⁽⁶⁾	$	132	$	111	$	89	$	170	$	115	(32%)	(13%)
As a % of EOP loans		2.93%		2.64%		2.07%		3.54%		2.67%

(1)	Also includes net interest revenue related to the region's average deposit balances in excess of the average loan portfolio.

(2)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(3)	Average yield is gross interest revenue earned on loans divided by average loans.

(4)	Net interest revenue includes certain fees that are recorded as interest revenue.

(5)	Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

(6)	The decrease in loans 90+ days past due as of September 30, 2020 and the decrease in loans 30-89 days past due beginning at June 30, 2020, include the impact of loan modifications that were implemented during the second quarter of 2020 related to various COVID-19 consumer relief programs.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 12

GLOBAL CONSUMER BANKING

ASIA ⁽¹⁾

PAGE 1

(In millions of dollars, except as otherwise noted)


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽²⁾		2020⁽²⁾		2020⁽²⁾		2020		2021		4Q20	1Q20

Net interest revenue	$	1,149	$	1,072	$	1,054	$	1,045	$	988	(5%)	(14%)
Non-interest revenue		602		475		565		509		613	20%	2%
Total revenues, net of interest expense		1,751		1,547		1,619		1,554		1,601	3%	(9%)
Total operating expenses		1,140		1,068		1,118		1,205		1,217	1%	7%
Net credit losses on loans		173		189		188		240		265	10%	53%
Credit reserve build / (release) for loans		184		251		110		(25)		(226)	NM	NM
Provision for credit losses on unfunded lending commitments		-		-		-		-			-	-
Provisions for benefits and claims, HTM debt securities and other assets		-		3		4		(6)		4	NM	NM
Provisions for credit losses and for benefits and claims (PBC)		357		443		302		209		43	(79%)	(88%)
Income from continuing operations before taxes		254		36		199		140		341	NM	34%
Income taxes (benefits)		50		(14)		32		23		77	NM	54%
Income from continuing operations		204		50		167		117		264	NM	29%
Noncontrolling interests		(1)		(2)		-		(1)		(3)	NM	NM
Net income	$	205	$	52	$	167	$	118	$	267	NM	30%
Average assets (in billions)	$	125	$	124	$	129	$	136	$	140	3%	12%
Return on average assets		0.66%		0.17%		0.52%		0.35%		0.77%
Efficiency ratio		65%		69%		69%		78%		76%

Net credit losses on loans as a percentage of average loans		0.87%		0.99%		0.94%		1.16%		1.29%

Revenue by business
Retail banking	$	1,133	$	1,009	$	1,066	$	1,060	$	1,080	2%	(5%)
Citi-branded cards		618		538		553		494		521	5%	(16%)
Total	$	1,751	$	1,547	$	1,619	$	1,554	$	1,601	3%	(9%)

Net credit losses on loans by business
Retail banking	$	66	$	75	$	69	$	86	$	80	(7%)	21%
Citi-branded cards		107		114		119		154		185	20%	73%
Total	$	173	$	189	$	188	$	240	$	265	10%	53%

Income from continuing operations by business
Retail banking	$	220	$	157	$	186	$	172	$	217	26%	(1%)
Citi-branded cards		(16)		(107)		(19)		(55)		47	NM	NM
Total	$	204	$	50	$	167	$	117	$	264	NM	29%

FX translation impact
Total revenue - as reported	$	1,751	$	1,547	$	1,619	$	1,554	$	1,601	3%	(9%)
Impact of FX translation⁽³⁾		67		66		36		7		-
Total revenues - Ex-FX⁽³⁾	$	1,818	$	1,613	$	1,655	$	1,561	$	1,601	3%	(12%)

Total operating expenses - as reported	$	1,140	$	1,068	$	1,118	$	1,205	$	1,217	1%	7%
Impact of FX translation⁽³⁾		43		45		25		6		-
Total operating expenses - Ex-FX⁽³⁾	$	1,183	$	1,113	$	1,143	$	1,211	$	1,217	-	3%

Total provisions for credit losses and PBC - as reported	$	357	$	443	$	302	$	209	$	43	(79%)	(88%)
Impact of FX translation⁽³⁾		19		20		4		1		-
Total provisions for credit losses and PBC - Ex-FX⁽³⁾	$	376	$	463	$	306	$	210	$	43	(80%)	(89%)

Net income - as reported	$	205	$	52	$	167	$	118	$	267	NM	30%
Impact of FX translation⁽³⁾		3		-		5		-		-
Total net income - Ex-FX⁽³⁾	$	208	$	52	$	172	$	118	$	267	NM	28%

(1)	Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented.

(2)	See footnote1 on page 1.

(3)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the first quarter of 2021 average exchange rates for all periods presented.

Citigroup's results of operations excluding the impact of FX translation are non-GAAP financial measures.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 13

GLOBAL CONSUMER BANKING

ASIA ⁽¹⁾

PAGE 2

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		236		234		233		224		223	-	(6%)
Accounts (in millions)		16.9		16.9		17.1		17.3		17.2	(1%)	2%
Average deposits	$	105.9	$	108.8	$	115.2	$	120.0	$	123.8	3%	17%
Investment sales		13.5		11.5		15.8		14.9		20.7	39%	53%
Investment AUMs		56.0		62.4		66.8		73.4		74.6	2%	33%
Average loans		61.5		60.5		62.9		65.2		66.1	1%	7%
EOP loans:
Mortgages		32.0		33.4		34.7		35.9		36.0	-	13%
Personal, small business and other		28.2		28.1		28.8		30.6		29.8	(3%)	6%
Total EOP loans	$	60.2	$	61.5	$	63.5	$	66.5	$	65.8	(1%)	9%

Total net interest revenue (in millions)⁽²⁾	$	658	$	628	$	612	$	615	$	598	(3%)	(9%)
As a % of average loans ⁽²⁾		4.30%		4.17%		3.87%		3.75%		3.67%
Net credit losses on loans (in millions)	$	66	$	75	$	69	$	86	$	80	(7%)	21%
As a % of average loans		0.43%		0.50%		0.44%		0.52%		0.49%
Loans 90+ days past due (in millions)	$	178	$	194	$	181	$	203	$	193	(5%)	8%
As a % of EOP Loans		0.30%		0.32%		0.29%		0.31%		0.29%
Loans 30-89 days past due (in millions)	$	356	$	327	$	272	$	312	$	278	(11%)	(22%)
As a % of EOP loans		0.59%		0.53%		0.43%		0.47%		0.42%

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)
EOP open accounts (in millions)		15.2		14.9		14.8		14.7		14.6	(1%)	(4%)
Purchase sales	$	19.8	$	15.0	$	18.4	$	20.9	$	20.1	(4%)	2%
Average loans ⁽³⁾	$	18.8	$	16.6	$	16.8	$	17.2	$	17.3	1%	(8%)
EOP loans ⁽³⁾	$	17.3	$	16.8	$	16.8	$	17.9	$	16.8	(6%)	(3%)
Average yield ⁽⁴⁾		12.37%		12.78%		11.99%		11.47%		10.96%	(4%)	(11%)

Total net interest revenue (in millions)⁽⁵⁾	$	491	$	444	$	442	$	430	$	390	(9%)	(21%)
As a % of average loans⁽⁶⁾		10.50%		10.76%		10.47%		9.95%		9.14%
Net credit losses on loans (in millions)	$	107	$	114	$	119	$	154	$	185	20%	73%
As a % of average loans		2.29%		2.76%		2.82%		3.56%		4.34%
Net credit margin (in millions)⁽⁶⁾	$	511	$	424	$	434	$	340	$	336	(1%)	(34%)
As a % of average loans⁽⁶⁾		10.93%		10.27%		10.28%		7.86%		7.88%
Loans 90+ days past due	$	204	$	214	$	242	$	312	$	223	(29%)	9%
As a % of EOP loans		1.18%		1.27%		1.44%		1.74%		1.33%
Loans 30-89 days past due	$	271	$	269	$	289	$	259	$	229	(12%)	(15%)
As a % of EOP loans		1.57%		1.60%		1.72%		1.45%		1.36%

(1)	Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented.

(2)	Also includes net interest revenue related to the region's average deposit balances in excess of the average loan portfolio.

(3)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(4)	Average yield is gross interest revenue earned on loans divided by average loans.

(5)	Net interest revenue includes certain fees that are recorded as interest revenue.

(6)	Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims.

Reclassified to conform to the current period's presentation.

Page 14

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20

Commissions and fees	$	1,222	$	1,027	$	1,099	$	1,064	$	1,252	18%	2%
Administration and other fiduciary fees		691		684		747		755		814	8%	18%
Investment banking		1,231		1,526		1,145		1,107		1,800	63%	46%
Principal transactions		5,359		3,909		2,292		1,748		3,842	NM	(28%)
Other		(114)		419		597		247		360	46%	NM
Total non-interest revenue		8,389		7,565		5,880		4,921		8,068	64%	(4%)
Net interest revenue (including dividends)		4,095		4,572		4,473		4,358		4,152	(5%)	1%
Total revenues, net of interest expense		12,484		12,137		10,353		9,279		12,220	32%	(2%)
Total operating expenses		5,810		5,933		5,778		5,946		6,264	5%	8%
Net credit losses on loans		127		324		326		210		186	(11%)	46%
Credit reserve build / (release) for loans		1,316		3,370		106		(1,620)		(1,312)	19%	NM
Provision for credit losses on unfunded lending commitments		553		107		423		352		(621)	NM	NM
Provisions for credit losses for HTM debt securities and other assets		8		53		(17)		(23)		(5)	78%	NM
Provision for credit losses		2,004		3,854		838		(1,081)		(1,752)	(62%)	NM
Income from continuing operations before taxes		4,670		2,350		3,737		4,414		7,708	75%	65%
Income taxes		1,044		470		818		1,041		1,736	67%	66%
Income from continuing operations		3,626		1,880		2,919		3,373		5,972	77%	65%
Noncontrolling interests		(1)		5		24		22		37	68%	NM
Net income	$	3,627	$	1,875	$	2,895	$	3,351	$	5,935	77%	64%
EOP assets (in billions)	$	1,723	$	1,716	$	1,703	$	1,730	$	1,776	3%	3%
Average assets (in billions)		1,580		1,756		1,732		1,756		1,787	2%	13%
Return on average assets (ROA)		0.92%		0.43%		0.66%		0.76%		1.35%
Efficiency ratio		47%		49%		56%		64%		51%

Revenue by region
North America	$	4,947	$	4,987	$	3,920	$	3,331	$	4,898	47%	(1%)
EMEA		3,470		3,392		3,085		2,867		3,713	30%	7%
Latin America		1,418		1,207		1,141		1,072		1,136	6%	(20%)
Asia		2,649		2,551		2,207		2,009		2,473	23%	(7%)
Total revenues, net of interest expense	$	12,484	$	12,137	$	10,353	$	9,279	$	12,220	32%	(2%)

Income (loss) from continuing operations by region
North America	$	896	$	660	$	1,058	$	847	$	2,798	NM	NM
EMEA		1,035		493		893		906		1,476	63%	43%
Latin America		526		(194)		108		966		646	(33%)	23%
Asia		1,169		921		860		654		1,052	61%	(10%)
Income from continuing operations	$	3,626	$	1,880	$	2,919	$	3,373	$	5,972	77%	65%

Average loans by region (in billions)
North America	$	196	$	215	$	198	$	193	$	195	1%	(1%)
EMEA		88		91		88		86		89	3%	1%
Latin America		38		43		40		35		32	(9%)	(16%)
Asia		73		73		71		68		71	4%	(3%)
Total	$	395	$	422	$	397	$	382	$	387	1%	(2%)

EOP deposits by region (in billions)
North America	$	444	$	471	$	476	$	472	$	470	-	6%
EMEA		210		212		218		218		232	7%	11%
Latin America		36		40		43		44		45	2%	25%
Asia		188		185		188		190		191	-	2%
Total	$	878	$	908	$	925	$	924	$	938	2%	7%

EOP deposits by business (in billions)
Treasury and trade solutions	$	622	$	658	$	660	$	651	$	649	-	4%
All other ICG businesses		256		250		265		273		289	6%	13%
Total	$	878	$	908	$	925	$	924	$	938	2%	7%

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 15

INSTITUTIONAL CLIENTS GROUP

REVENUES BY BUSINESS

(In millions of dollars, except as otherwise noted)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Revenue Details
Investment banking
Advisory	$	386	$	229	$	163	$	232	$	281	21%	(27%)
Equity underwriting		180		491		484		438		876	100%	NM
Debt underwriting		788		1,039		740		617		816	32%	4%
Total investment banking		1,354		1,759		1,387		1,287		1,973	53%	46%
Treasury and trade solutions		2,423		2,307		2,394		2,400		2,165	(10%)	(11%)
Corporate lending - excluding gain/(loss) on loan hedges⁽¹⁾		448		646		538		552		483	(13%)	8%
Private bank - excluding gain/(loss) on loan hedges⁽¹⁾		949		956		938		894		1,027	15%	8%
Total banking revenues (ex-gain/(loss) on loan hedges)⁽¹⁾	$	5,174	$	5,668	$	5,257	$	5,133	$	5,648	10%	9%

Gain/(loss) on loan hedges⁽¹⁾		816		(431)		(124)		(312)		(81)	74%	NM
Total banking revenues including g/(l) on loan hedges⁽¹⁾	$	5,990	$	5,237	$	5,133	$	4,821	$	5,567	15%	(7%)

Fixed income markets	$	4,786	$	5,595	$	3,788	$	3,087	$	4,550	47%	(5%)
Equity markets		1,169		770		875		810		1,476	82%	26%
Securities services		645		619		631		650		653	-	1%
Other		(106)		(84)		(74)		(89)		(26)	71%	75%
Total markets and securities services	$	6,494	$	6,900	$	5,220	$	4,458	$	6,653	49%	2%

Total revenues, net of interest expense	$	12,484	$	12,137	$	10,353	$	9,279	$	12,220	32%	(2%)

Taxable-equivalent adjustments ⁽²⁾	$	86	$	88	$	104	$	137	$	99	(28%)	15%

Total ICG revenues including taxable-equivalent adjustments⁽²⁾	$	12,570	$	12,225	$	10,457	$	9,416	$	12,319	31%	(2%)

Commissions and fees	$	189	$	154	$	159	$	175	$	200	14%	6%
Principal transactions ⁽³⁾		3,549		4,009		2,178		1,782		2,930	64%	(17%)
Other		(63)		234		301		107		356	NM	NM
Total non-interest revenue	$	3,675	$	4,397	$	2,638	$	2,064	$	3,486	69%	(5%)
Net interest revenue		1,111		1,198		1,150		1,023		1,064	4%	(4%)
Total fixed income markets	$	4,786	$	5,595	$	3,788	$	3,087	$	4,550	47%	(5%)

Rates and currencies	$	4,034	$	3,582	$	2,520	$	2,009	$	3,039	51%	(25%)
Spread products / other fixed income		752		2,013		1,268		1,078		1,511	40%	101%
Total fixed income markets	$	4,786	$	5,595	$	3,788	$	3,087	$	4,550	47%	(5%)

Commissions and fees	$	362	$	305	$	279	$	299	$	392	31%	8%
Principal transactions ⁽³⁾		774		193		125		189		835	NM	8%
Other		8		2		267		45		32	(29%)	NM
Total non-interest revenue	$	1,144	$	500	$	671	$	533	$	1,259	NM	10%
Net interest revenue		25		270		204		277		217	(22%)	NM
Total equity markets	$	1,169	$	770	$	875	$	810	$	1,476	82%	26%

(1)

Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain/(loss) on loan hedges includes the mark-to-market on the credit derivatives partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the private bank and corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain/(loss) on loan hedges are non-GAAP financial measures.

(2)	Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

(3)	Excludes principal transactions revenues of ICG businesses other than Markets, primarily treasury and trade solutions and the private bank.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 16

CORPORATE / OTHER ⁽¹⁾

(In millions of dollars, except as otherwise noted)


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Net interest revenue	$	325	$	(26)	$	(231)	$	(218)	$	61	NM	(81%)
Non-interest revenue		(252)		316		7		133		9	(93%)	NM
Total revenues, net of interest expense		73		290		(224)		(85)		70	NM	(4%)
Total operating expenses		416		469		969		647		413	(36%)	(1%)
Net credit losses		(2)		(5)		(5)		(10)		(18)	(80%)	NM
Credit reserve build / (release)		191		160		(128)		(35)		(109)	NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		(2)		3		1		(1)		20	NM	NM
Provision for unfunded lending commitments		5		6		(4)		4		(5)	NM	NM
Total provisions for credit losses and for benefits and claims		192		164		(136)		(42)		(112)	NM	NM
Income from continuing operations before taxes		(535)		(343)		(1,057)		(690)		(231)	67%	57%
Income taxes (benefits)		(198)		(178)		(341)		(343)		(62)	82%	69%
Income (loss) from continuing operations		(337)		(165)		(716)		(347)		(169)	51%	50%
Income (loss) from discontinued operations, net of taxes		(18)		(1)		(7)		6		(2)	NM	89%
Noncontrolling interests		(4)		(3)		-		1		(1)	NM	75%
Net income (loss)	$	(351)	$	(163)	$	(723)	$	(342)	$	(170)	50%	52%

EOP assets (in billions)	$	94	$	94	$	96	$	96	$	99	3%	5%
Average assets (in billions)		94		93		93		96		91	(5%)	(3%)
Return on average assets		(1.50%)		(0.70%)		(3.09%)		(1.42%)		(0.76%)

Consumer - North America⁽²⁾ - Key Indicators

Average loans (in billions)	$	9.4	$	8.9	$	8.2	$	7.4	$	6.4	(14%)	(32%)
EOP loans (in billions)		9.1		8.6		7.7		6.6		6.1	(8%)	(33%)
Net interest revenue		74		86		54		42		34	(19%)	(54%)
As a % of average loans		3.17%		3.89%		2.62%		2.26%		2.15%
Net credit losses (recoveries)	$	-	$	(5)	$	(4)	$	(10)	$	(18)	(80%)	NM
As a % of average loans		0.00%		(0.23%)		(0.19%)		(0.54%)		(1.14%)
Loans 90+ days past due⁽³⁾	$	281	$	295	$	278	$	313	$	277	(12%)	(1%)
As a % of EOP loans		3.23%		3.60%		3.86%		5.13%		4.86%
Loans 30-89 days past due⁽³⁾	$	252	$	261	$	198	$	179	$	138	(23%)	(45%)
As a % of EOP loans		2.90%		3.18%		2.75%		2.93%		2.42%

(1)

Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury, certain North America legacy consumer loan portfolios, other legacy assets and discontinued operations.

(2)	Results and amounts primarily relate to consumer mortgages.

(3)	The Loans 90+ Days Past Due and 30-89 Days Past Due and related ratios exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies.

The amounts excluded for Loans 90+ Days Past Due and (EOP Loans) for each period were $167 million and ($0.4 billion), $173 million and ($0.4 billion), and $172 million and ($0.5 billion), $183 million and ($0.5 billion), and $169 million and ($0.4 billion) as of March 31, 2020, June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021, respectively.

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) for each period were $58 million and ($0.4 billion), $57 million and ($0.4 billion), and $66 million and ($0.5 billion), $73 million and ($0.5 billion), and $55 million and ($0.4 billion) as of March 31, 2020, June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 17

AVERAGE BALANCES AND INTEREST RATES ^{(1)(2)(3)(4)(5)}

Taxable Equivalent Basis


	Average Volumes						Interest						% Average Rate ⁽⁴⁾
	First		Fourth		First		First		Fourth		First		First		Fourth		First
	Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
In millions of dollars, except as otherwise noted	2020		2020		2021⁽⁵⁾		2020		2020		2021⁽⁵⁾		2020		2020		2021⁽⁵⁾
Assets
Deposits with banks	$	207,130	$	334,056	$	307,340	$	527	$	126	$	145	1.02	%	0.15	%	0.19	%
Securities borrowed and purchased under resale agreements⁽⁶⁾		268,900		298,641		306,381		1,208		322		294	1.81	%	0.43	%	0.39	%
Trading account assets⁽⁷⁾		252,458		295,397		307,817		1,594		1,406		1,338	2.54	%	1.89	%	1.76	%
Investments		381,335		442,368		457,949		2,305		1,765		1,780	2.43	%	1.59	%	1.58	%
Total loans (net of unearned income)⁽⁸⁾		694,675		666,229		665,970		11,268		9,389		8,933	6.52	%	5.61	%	5.44	%
Other interest-earning assets		68,737		62,587		76,091		283		87		97	1.66	%	0.55	%	0.52	%
Total average interest-earning assets	$	1,873,235	$	2,099,278	$	2,121,548	$	17,185	$	13,095	$	12,587	3.69	%	2.48	%	2.41	%

Liabilities
Deposits (excluding deposit insurance and FDIC assessment)	$	934,451	$	1,081,101	$	1,073,827	$	2,389	$	828	$	712	1.03	%	0.30	%	0.27	%
Deposit insurance and FDIC assessment		-		-		-		225		333		340
Total deposits		934,451		1,081,101		1,073,827		2,614		1,161		1,052	1.13	%	0.43	%	0.40	%
Securities loaned and sold under repurchase agreements⁽⁶⁾		198,510		227,257		235,263		1,085		247		253	2.20	%	0.43	%	0.44	%
Trading account liabilities⁽⁷⁾		84,500		95,475		117,364		239		122		114	1.14	%	0.51	%	0.39	%
Short-term borrowings		106,560		88,553		93,344		384		18		31	1.45	%	0.08	%	0.13	%
Long-term debt⁽⁹⁾		202,192		220,958		206,264		1,325		1,016		918	2.64	%	1.83	%	1.80	%
Total average interest-bearing liabilities	$	1,526,213	$	1,713,344	$	1,726,062	$	5,647	$	2,564	$	2,368	1.49	%	0.60	%	0.56	%
Total average interest-bearing liabilities
(Excluding deposit insurance and FDIC assessment)	$	1,526,213	$	1,713,344	$	1,726,062	$	5,422	$	2,231	$	2,028	1.43	%	0.52	%	0.48	%

Net interest revenue as a % of average interest-earning assets (NIM)							$	11,538	$	10,531	$	10,219	2.48	%	2.00	%	1.95	%

NIR as a % of average interest-earning assets (NIM) (excluding deposit insurance and FDIC assessment)							$	11,763	$	10,864	$	10,559	2.53	%	2.06	%	2.02	%

1Q21 increase (decrease) from:													(53)	bps	(5)	bps

1Q21 increase (decrease) (excluding deposit insurance and FDIC assessment) from:													(51)	bps	(4)	bps

(1)	Interest revenue includes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $46 million for 1Q20, $48 million for 4Q20 and $53 million for 1Q21.

(2)	Citigroup average balances and interest rates include both domestic and international operations.

(3)	Monthly averages have been used by certain subsidiaries where daily averages are unavailable.

(4)	Average rate percentage is calculated as annualized interest over average volumes.

(5)	First quarter of 2021 is preliminary.

(6)	Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).

(7)	Interest expense on trading account liabilities of ICG is reported as a reduction of interest revenue. Interest revenue and interest expense on cash collateral positions are reported in trading account assets and trading account liabilities, respectively.

(8)	Nonperforming loans are included in the average loan balances.

(9)	Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions.

Reclassified to conform to the current period's presentation.

Page 18

DEPOSITS

(In billions of dollars)


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Global Consumer Banking
North America	$	166.4	$	180.5	$	186.0	$	194.8	$	204.0	5%	23%
Latin America		19.8		21.5		22.2		25.8		24.0	(7%)	21%
Asia ⁽¹⁾		107.8		112.5		117.4		123.9		125.3	1%	16%
Total		294.0		314.5		325.6		344.5		353.3	3%	20%

ICG
North America		444.6		472.2		475.7		472.2		470.1	-	6%
EMEA		210.0		211.6		218.3		217.9		232.1	7%	11%
Latin America		36.1		39.7		43.3		44.2		45.2	2%	25%
Asia		187.6		184.9		187.5		190.0		190.9	-	2%
Total		878.3		908.4		924.8		924.3		938.3	2%	7%

Corporate/Other		12.6		10.8		12.2		11.9		9.4	(21%)	(25%)

Total deposits - EOP	$	1,184.9	$	1,233.7	$	1,262.6	$	1,280.7	$	1,301.0	2%	10%

Total deposits - average	$	1,114.5	$	1,233.9	$	1,267.8	$	1,305.3	$	1,304.0	-	17%

Foreign currency (FX) translation impact
Total EOP deposits - as reported	$	1,184.9	$	1,233.7	$	1,262.6	$	1,280.7	$	1,301.0	2%	10%
Impact of FX translation ⁽²⁾		25.4		17.9		9.2		(9.7)		-
Total EOP deposits - Ex-FX ⁽²⁾	$	1,210.3	$	1,251.6	$	1,271.8	$	1,271.0	$	1,301.0	2%	7%

(1)	Asia GCB includes deposits of certain EMEA countries for all periods presented.

(2)	Reflects the impact of FX translation into U.S. dollars at the first quarter of 2021 exchange rates for all periods presented.

Citigroup's results of operations excluding the impact of FX translation are non-GAAP financial measures.

Reclassified to conform to the current period's presentation.

Page 19

EOP LOANS

(In billions of dollars)

						1Q21 Increase/
	1Q	2Q	3Q	4Q	1Q	(Decrease) from
	2020	2020	2020	2020	2021	4Q20	1Q20


Global Consumer Banking

North America
Credit cards	$137.3	$128.0	$125.5	$130.4	$121.0	(7%)	(12%)
Retail banking	50.8	53.1	53.1	52.7	50.9	(3%)	-
Total	188.1	181.1	$178.6	$183.1	171.9	(6%)	(9%)

Latin America
Credit cards	4.5	4.2	$4.3	$4.8	4.3	(10%)	(4%)
Retail banking	9.2	9.0	9.2	9.8	9.1	(7%)	(1%)
Total	13.7	13.2	$13.5	$14.6	13.4	(8%)	(2%)

Asia⁽¹⁾
Credit cards	17.3	16.8	$16.8	$17.9	16.8	(6%)	(3%)
Retail banking	60.2	61.5	63.5	66.5	65.8	(1%)	9%
Total	77.5	78.3	$80.3	$84.4	82.6	(2%)	7%

Total GCB consumer loans
Credit cards	159.1	149.0	$146.6	$153.1	142.1	(7%)	(11%)
Retail banking	120.2	123.6	125.8	129.0	125.8	(2%)	5%
Total GCB	279.3	272.6	$272.4	$282.1	267.9	(5%)	(4%)
Total Corporate/Other - consumer	9.1	8.5	7.6	6.7	6.1	(9%)	(33%)
Total consumer loans	$288.4	$281.1	$280.0	$288.8	$274.0	(5%)	(5%)

Corporate loans - by region
North America	$223.5	$202.8	$195.0	$197.2	$199.3	1%	(11%)
EMEA	93.8	88.1	86.4	87.9	88.9	1%	(5%)
Latin America	41.3	42.1	36.6	33.4	31.7	(5%)	(23%)
Asia	74.0	71.2	68.9	68.5	72.1	5%	(3%)
Total corporate loans	432.6	$404.2	$386.9	$387.0	392.0	1%	(9%)

Corporate loans - by product
Corporate lending	192.2	170.3	$150.9	$138.8	134.8	(3%)	(30%)
Private bank	112.0	108.3	111.5	117.5	121.3	3%	8%
Treasury and trade solutions	75.5	71.8	68.2	71.4	70.8	(1%)	(6%)
Markets and securities services	52.9	53.8	56.3	59.3	65.1	10%	23%
Total corporate loans	432.6	404.2	$386.9	$387.0	392.0	1%	(9%)

Total loans	$721.0	$685.3	$666.9	$675.9	$666.0	(1%)	(8%)

Foreign currency (FX) translation impact
Total EOP loans - as reported	$721.0	$685.3	$666.9	$675.9	$666.0	(1%)	(8%)
Impact of FX translation⁽²⁾	16.2	11.1	5.8	(4.7)	-
Total EOP loans - Ex-FX⁽²⁾	$737.2	$696.4	$672.7	$671.2	$666.0	(1%)	(10%)

(1)	Asia GCB includes loans of certain EMEA countries for all periods presented.

(2)	Reflects the impact of FX translation into U.S. dollars at the first quarter of 2021 exchange rates for all periods presented.

Citigroup's results of operations excluding the impact of FX translation are non-GAAP financial measures.

Reclassified to conform to the current period's presentation.

Page 20

CONSUMER LOANS 90+ DAYS DELINQUENCIES AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions)


	Loans 90+ Days Past Due⁽¹⁾										EOP Loans
		1Q		2Q		3Q		4Q		1Q	1Q
		2020		2020		2020		2020		2021	2021
Global Consumer Banking⁽²⁾
Total	$	2,603	$	2,466	$	1,976	$	2,507	$	2,175	$	267.9
Ratio		0.93%		0.91%		0.73%		0.89%		0.81%

Retail banking⁽²⁾
Total	$	429	$	497	$	497	$	632	$	598	$	125.8
Ratio		0.36%		0.40%		0.40%		0.49%		0.48%
North America⁽²⁾	$	161	$	182	$	211	$	299	$	263	$	50.9
Ratio		0.32%		0.35%		0.40%		0.58%		0.52%
Latin America	$	90	$	121	$	105	$	130	$	142	$	9.1
Ratio		0.98%		1.34%		1.14%		1.33%		1.56%
Asia⁽³⁾	$	178	$	194	$	181	$	203	$	193	$	65.8
Ratio		0.30%		0.32%		0.29%		0.31%		0.29%

Cards
Total	$	2,174	$	1,969	$	1,479	$	1,875	$	1,577	$	142.1
Ratio		1.37%		1.32%		1.01%		1.22%		1.11%
North America - Citi-branded ⁽³⁾	$	891	$	784	$	574	$	686	$	590	$	78.5
Ratio		1.01%		0.95%		0.71%		0.82%		0.75%
North America - retail services⁽³⁾	$	958	$	811	$	557	$	644	$	591	$	42.5
Ratio		1.96%		1.79%		1.25%		1.39%		1.39%
Latin America⁽³⁾	$	121	$	160	$	106	$	233	$	173	$	4.3
Ratio		2.69%		3.81%		2.47%		4.85%		4.02%
Asia⁽⁴⁾	$	204	$	214	$	242	$	312	$	223	$	16.8
Ratio		1.18%		1.27%		1.44%		1.74%		1.33%

Corporate/Other - consumer⁽²⁾	$	281	$	295	$	278	$	313	$	277	$	6.1
Ratio		3.23%		3.60%		3.86%		5.13%		4.86%

Total Citigroup⁽²⁾	$	2,884	$	2,761	$	2,254	$	2,820	$	2,452	$	274.0
Ratio		1.00%		0.99%		0.81%		0.98%		0.90%

(1)	The ratio of 90+ days past due is calculated based on end-of-period loans, net of unearned income.

(2)

The 90+ days past due and related ratios for North America retail banking and Corporate/Other North America exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 2 on page 9 and footnote 1 on page 17.

(3)	The decrease in loans 90+ days past due in North America and Latin America cards as of September 30, 2020, includes the impact of loan modifications that were implemented during the second quarter of 2020 related to various COVID-19 consumer relief programs.

(4)	Asia includes delinquency amounts, ratios and loans of certain EMEA countries for all periods presented.

Reclassified to conform to the current period's presentation.

Page 21

CONSUMER LOANS 30-89 DAYS DELINQUENCIES AND RATIOS

BUSINESS VIEW

(In millions of dollars, except EOP loan amounts in billions)


	Loans 30-89 Days Past Due⁽¹⁾										EOP Loans
	1Q		2Q		3Q		4Q		1Q		1Q
	2020		2020		2020		2020		2021		2021

Global Consumer Banking⁽²⁾
Total	$	2,870	$	2,503	$	2,398	$	2,517	$	2,003	$	267.9
Ratio		1.03%		0.92%		0.88%		0.89%		0.75%

Retail banking⁽²⁾
Total	$	794	$	918	$	786	$	860	$	662	$	125.8
Ratio		0.66%		0.75%		0.63%		0.67%		0.53%
North America⁽²⁾	$	298	$	440	$	378	$	328	$	220	$	50.9
Ratio		0.59%		0.84%		0.72%		0.63%		0.44%
Latin America	$	140	$	151	$	136	$	220	$	164	$	9.1
Ratio		1.52%		1.68%		1.48%		2.24%		1.80%
Asia ⁽³⁾	$	356	$	327	$	272	$	312	$	278	$	65.8
Ratio		0.59%		0.53%		0.43%		0.47%		0.42%

Cards
Total⁽³⁾	$	2,076	$	1,585	$	1,612	$	1,657	$	1,341	$	142.1
Ratio		1.30%		1.06%		1.10%		1.08%		0.94%
North America - Citi- branded⁽³⁾	$	770	$	594	$	624	$	589	$	484	$	78.5
Ratio		0.87%		0.72%		0.77%		0.70%		0.62%
North America - retail services⁽³⁾	$	903	$	611	$	610	$	639	$	513	$	42.5
Ratio		1.85%		1.35%		1.37%		1.38%		1.21%
Latin America⁽³⁾	$	132	$	111	$	89	$	170	$	115	$	4.3
Ratio		2.93%		2.64%		2.07%		3.54%		2.67%
Asia ⁽⁴⁾	$	271	$	269	$	289	$	259	$	229	$	16.8
Ratio		1.57%		1.60%		1.72%		1.45%		1.36%

Corporate/Other - consumer⁽²⁾	$	252	$	261	$	198	$	179	$	138	$	6.1
Ratio		2.90%		3.18%		2.75%		2.93%		2.42%

Total Citigroup⁽²⁾	$	3,122	$	2,764	$	2,596	$	2,696	$	2,141	$	274.0
Ratio		1.09%		0.99%		0.93%		0.94%		0.78%

(1)	The ratio of 30-89 days past due is calculated based on end-of-period loans, net of unearned income.

(2)

The 30-89 days past due and related ratios for North America retail banking and Corporate/Other North America exclude U.S. mortgage loans that are guaranteed by U.S. government-sponsored agencies since the potential loss predominantly resides with the U.S. agencies. See footnote 2 on page 9 and footnote 1 on page 17.

(3)	The decrease in loans 30-89 days past due in North America and Latin America cards beginning at June 30, 2020, includes the impact of loan modifications that were implemented during the second quarter of 2020 related to various COVID-19 consumer relief programs.

(4)	Asia includes delinquency amounts, ratios and loans of certain EMEA countries for all periods presented.

Reclassified to conform to the current period's presentation.

Page 22

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS Page 1

(In millions of dollars)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	12,783	$	20,380	$	26,298	$	26,426	$	24,956
Adjustments to opening balance
Financial instruments—credit losses (CECL)⁽¹⁾		4,201		-		-		-		-
Variable post-charge-off third-party collection costs⁽²⁾		(443)		-		-		-		-
Adjusted ACLL at beginning of period		16,541		20,380		26,298		26,426		24,956	(6%)	51%

Gross credit (losses) on loans		(2,479)		(2,528)		(2,367)		(1,889)		(2,208)	(17%)	11%
Gross recoveries on loans		420		367		448		417		460	10%	10%
Net credit (losses) / recoveries on loans (NCLs)		(2,059)		(2,161)		(1,919)		(1,472)		(1,748)	19%	(15%)
NCLs		2,059		2,161		1,919		1,472		1,748	19%	(15%)
Net reserve builds / (releases) for loans		4,094		5,195		164		(1,818)		(3,068)	(69%)	NM
Net specific reserve builds / (releases) for loans		224		634		(152)		(30)		(159)	NM	NM
Provision for credit losses on loans (PCLL)		6,377		7,990		1,931		(376)		(1,479)	NM	NM
Other, net^{(3)(4)(5)(6)(7)(8)}		(479)		89		116		378		(91)	NM	81%
ACLL at end of period (a)	$	20,380	$	26,298	$	26,426	$	24,956	$	21,638

Allowance for credit losses on unfunded lending commitments (ACLUC)^(9)(10) (a)	$	1,813	$	1,859	$	2,299	$	2,655	$	2,012

Provision (release) for credit losses on unfunded lending commitments	$	557	$	113	$	424	$	352	$	(626)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	22,193	$	28,157	$	28,725	$	27,611	$	23,650

Total ACLL as a percentage of total loans⁽¹¹⁾		2.84%		3.87%		4.00%		3.73%		3.29%

Consumer
ACLL at beginning of period	$	9,897	$	16,929	$	19,474	$	19,488	$	19,554
Adjustments to opening balance
Financial instruments—credit losses (CECL)⁽¹⁾		4,922		-		-		-		-
Variable post-charge-off third-party collection costs⁽²⁾		(443)		-		-		-		-
Adjusted ACLL at beginning of period		14,376		16,929		19,474		19,488		19,554	-	36%

NCLs		(1,932)		(1,837)		(1,594)		(1,262)		(1,562)	24%	(19%)
NCLs		1,932		1,837		1,594		1,262		1,562	24%	(19%)
Net reserve builds/ (releases) for loans		2,826		2,312		(103)		(289)		(1,795)	NM	NM
Net specific reserve builds / (releases) for loans		176		148		9		61		(121)	NM	NM
Provision for credit losses on loans (PCLL)		4,934		4,297		1,500		1,034		(354)	NM	NM
Other, net^{(3)(4)(5)(6)(7)(8)}		(449)		85		108		294		(84)	NM	81%
ACLL at end of period (b)	$	16,929	$	19,474	$	19,488	$	19,554	$	17,554

Consumer ACLUC⁽⁹⁾ (b)	$	-	$	-	$	-	$	1	$	1

Provision (release) for credit losses on unfunded lending commitments	$	(1)	$	-	$	5	$	1	$	-

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	16,929	$	19,474	$	19,488	$	19,555	$	17,555

Consumer ACLL as a percentage of total consumer loans		5.87%		6.93%		6.96%		6.77%		6.41%

Corporate
ACLL at beginning of period	$	2,886	$	3,451	$	6,824	$	6,938	$	5,402
Adjustment to opening balance for CECL adoption⁽¹⁾		(721)		-		-		-		-
Adjusted ACLL at beginning of period		2,165		3,451		6,824		6,938		5,402	(22%)	NM

NCLs		(127)		(324)		(325)		(210)		(186)	(11%)	46%
NCLs		127		324		325		210		186	(11%)	46%
Net reserve builds / (releases) for loans		1,268		2,883		267		(1,529)		(1,273)	17%	NM
Net specific reserve builds / (releases) for loans		48		486		(161)		(91)		(38)	58%	NM
Provision for credit losses on loans (PCLL)		1,443		3,693		431		(1,410)		(1,125)	20%	NM
Other, net⁽³⁾		(30)		4		8		84		(7)
ACLL at end of period (c)	$	3,451	$	6,824	$	6,938	$	5,402	$	4,084

Corporate ACLUC^(9)(10) (c)	$	1,813	$	1,859	$	2,299	$	2,654	$	2,011

Provision (release) for credit losses on unfunded lending commitments	$	558	$	113	$	419	$	351	$	(626)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	5,264	$	8,683	$	9,237	$	8,056	$	6,095

Corporate ACLL as a percentage of total corporate loans⁽¹¹⁾		0.81%		1.71%		1.82%		1.42%		1.06%

Footnotes to this table are on the following page (page 24).

Page 23

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 2

The following footnotes relate to the table on the preceding page (page 23):

(1)

On January 1, 2020, Citi adopted Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (CECL) (Topic 326). The ASU introduces a new credit loss methodology requiring earlier recognition of credit losses while also providing additional transparency about credit risk. On January 1, 2020, Citi recorded a $4.1 billion, or an approximate 29%, pretax increase in the Allowance for credit losses, along with a $3.1 billion after-tax decrease in Retained earnings and a deferred tax asset increase of $1.0 billion. This transition impact reflects (i) a $4.9 billion build to the Allowance for credit losses for Citi’s consumer exposures, primarily driven by the impact on credit card receivables of longer estimated tenors under the CECL lifetime expected credit loss methodology compared to shorter estimated tenors under the probable loss methodology under prior U.S. GAAP, net of recoveries; and (ii) a release of $0.8 billion of reserves related to Citi’s corporate net loan loss exposures, largely due to more precise contractual maturities that result in shorter remaining tenors, incorporation of recoveries and use of more specific historical loss data based on an increase in portfolio segmentation across industries and geographies.

Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb losses in the portfolios. The balances on page 23 do not include approximately $0.2 billion of allowance for HTM debt securities and other assets at December 31, 2020.

(2)	See footnote1 on page 1.

(3)	Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

(4)	1Q20 consumer includes a decrease of approximately $456 million related to FX translation. The corporate allowance is predominantly sourced in U.S. dollars.

(5)	2Q20 consumer includes an increase of approximately $86 million related to FX translation. The corporate allowance is predominantly sourced in U.S. dollars.

(6)	3Q20 consumer includes an increase of approximately $108 million related to FX translation. The corporate allowance is predominantly sourced in U.S. dollars.

(7)	4Q20 consumer includes an increase of approximately $292 million related to FX translation.

(8)	1Q21 consumer includes a decrease of approximately $84 million related to FX translation.

(9)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

(10)

The June 30, 2020 corporate ACLUC includes a non-provision transfer of $68 million, representing reserves on performance guarantees as of March 31, 2020. The reserves on these contracts were reclassified out of the allowance for credit losses on unfunded lending commitments and into other liabilities as of June 30, 2020.

(11)	March 31, 2020, June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021 exclude $4.0 billion,$5.8 billion, $5.5 billion, $7.1 billion and $7.5 billion , respectively, of loans that are carried at fair value.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 24

COMPONENTS OF PROVISION FOR CREDIT LOSSES ON LOANS

(In millions of dollars)

											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020⁽¹⁾		2020		2021		4Q20	1Q20

Global Consumer Banking
Net credit losses	$	1,934	$	1,842	$	1,598	$	1,272	$	1,580	24%	(18%)
Credit reserve build / (release)		2,811		2,299		34		(193)		(1,806)	NM	NM
North America
Net credit losses		1,490		1,448		1,182		870		950	9%	(36%)
Credit reserve build / (release)		2,371		1,839		(10)		(85)		(1,417)	NM	NM
Retail Banking
Net credit losses		37		33		31		31		26	(16%)	(30%)
Credit reserve build / (release)		178		179		(17)		(38)		(117)	NM	NM
Citi-Branded Cards
Net credit losses		781		780		647		500		551	10%	(29%)
Credit reserve build / (release)		1,287		1,310		49		(39)		(699)	NM	NM
Citi Retail Services
Net credit losses		672		635		504		339		373	10%	(44%)
Credit reserve build / (release)		906		350		(42)		(8)		(601)	NM	NM
Latin America
Net credit losses		271		205		228		162		365	NM	35%
Credit reserve build / (release)		256		209		(66)		(83)		(163)	(96%)	NM
Retail Banking
Net credit losses		127		92		90		68		168	NM	32%
Credit reserve build / (release)		118		133		(41)		(73)		(106)	(45%)	NM
Citi-Branded Cards
Net credit losses		144		113		138		94		197	NM	37%
Credit reserve build / (release)		138		76		(25)		(10)		(57)	NM	NM
Asia ⁽²⁾
Net credit losses		173		189		188		240		265	10%	53%
Credit reserve build / (release)		184		251		110		(25)		(226)	NM	NM
Retail Banking
Net credit losses		66		75		69		86		80	(7%)	21%
Credit reserve build / (release)		101		76		37		(4)		(60)	NM	NM
Citi-Branded Cards
Net credit losses		107		114		119		154		185	20%	73%
Credit reserve build / (release)		83		175		73		(21)		(166)	NM	NM

Institutional Clients Group
Net credit losses		127		324		326		210		186	(11%)	46%
Credit reserve build / (release)		1,316		3,370		106		(1,620)		(1,312)	19%	NM

Corporate / Other
Net credit losses		(2)		(5)		(5)		(10)		(18)	(80%)	NM
Credit reserve build / (release)		191		160		(128)		(35)		(109)	NM	NM

Total provision for credit losses on loans	$	6,377	$	7,990	$	1,931	$	(376)	$	(1,479)	NM	NM

(1)	See footnote1 on page 1.

(2)	Asia GCB includes NCLs and credit reserve builds (releases) for certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 25

NON-ACCRUAL ASSETS

(In millions of dollars)


											1Q21 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2020		2020		2020		2020		2021		4Q20	1Q20
Non-accrual loans ⁽¹⁾
Corporate non-accrual loans by region
North America	$	1,138	$	2,466	$	2,018	$	1,928	$	1,566	(19%)	38%
EMEA		720		812		720		661		591	(11%)	(18%)
Latin America		447		585		609		719		739	3%	65%
Asia		179		153		237		219		210	(4%)	17%
Total	$	2,484	$	4,016	$	3,584	$	3,527	$	3,106	(12%)	25%

Consumer non-accrual loans by region⁽¹⁾
North America	$	926	$	928	$	934	$	1,059	$	961	(9%)	4%
Latin America		489		608		493		774		720	(7%)	47%
Asia ⁽²⁾		284		293		263		308		303	(2%)	7%
Total	$	1,699	$	1,829	$	1,690	$	2,141	$	1,984	(7%)	17%

Other real estate owned (OREO)⁽³⁾
Institutional Clients Group	$	19	$	17	$	13	$	11	$	10	(9%)	(47%)
Global Consumer Banking		4		4		11		10		13	30%	NM
Corporate/Other		27		23		18		22		20	(9%)	(26%)
Total	$	50	$	44	$	42	$	43	$	43	-	(14%)

OREO by region
North America	$	35	$	32	$	22	$	19	$	14	(26%)	(60%)
EMEA		1		-		-		-		-	-	(100%)
Latin America		6		6		8		7		10	43%	67%
Asia		8		6		12		17		19	12%	NM
Total	$	50	$	44	$	42	$	43	$	43	-	(14%)

Non-accrual assets (NAA)⁽⁴⁾
Corporate non-accrual loans	$	2,484	$	4,016	$	3,584	$	3,527	$	3,106	(12%)	25%
Consumer non-accrual loans		1,699		1,829		1,690		2,141		1,984	(7%)	17%
Non-accrual loans (NAL)		4,183		5,845		5,274		5,668		5,090	(10%)	22%
OREO		50		44		42		43		43	-	(14%)
Non-Accrual Assets (NAA)	$	4,233	$	5,889	$	5,316	$	5,711	$	5,133	(10%)	21%

NAL as a percentage of total loans		0.58%		0.85%		0.79%		0.84%		0.76%
NAA as a percentage of total assets		0.19%		0.26%		0.24%		0.25%		0.22%

Allowance for loan losses as a percentage of NAL		487%		450%		501%		440%		425%

(1)

Corporate loans are placed on non-accrual status based upon a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer Loans and Corporate Loans on the Consolidated Balance Sheet.

(2)	Asia GCB includes balances for certain EMEA countries for all periods presented.

(3)	Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer contemplated.

(4)	There is no industry-wide definition of non-accrual assets. As such, analysis against the industry is not always comparable.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 26

CITIGROUP

CET1 CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS, TANGIBLE COMMON EQUITY, BOOK VALUE PER

SHARE AND TANGIBLE BOOK VALUE PER SHARE

(In millions of dollars or shares, except per share amounts and ratios)


	March 31,		June 30,		September 30,		December 31,		March 31,
Common Equity Tier 1 Capital Ratio and Components ⁽¹⁾	2020⁽²⁾		2020⁽²⁾		2020⁽²⁾		2020		2021⁽³⁾
Citigroup common stockholders' equity ⁽⁴⁾	$	174,846	$	173,877	$	176,047	$	180,118	$	182,402
Add: qualifying noncontrolling interests		138		145		141		141		132
Regulatory capital adjustments and deductions:
Add:
CECL transition and 25% provision deferral ⁽⁵⁾		4,112		5,503		5,638		5,348		4,359
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		2,020		2,094		1,859		1,593		1,037
Cumulative unrealized net gain (loss) related to changes in fair value of financial
liabilities attributable to own creditworthiness, net of tax		2,838		393		29		(1,109)		(1,172)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁶⁾		20,123		20,275		20,522		21,124		20,854
Identifiable intangible assets other than mortgage servicing rights
(MSRs), net of related DTLs		3,953		3,866		4,248		4,166		4,053
Defined benefit pension plan net assets		1,052		960		949		921		1,485
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit
and general business credit carry-forwards		12,257		12,315		12,061		11,638		11,691
Common Equity Tier 1 Capital (CET1)	$	136,853	$	139,622	$	142,158	$	147,274	$	148,945
Risk-Weighted Assets (RWA)⁽⁵⁾	$	1,231,323	$	1,213,940	$	1,219,054	$	1,255,284	$	1,271,211
Common Equity Tier 1 Capital ratio (CET1/RWA)		11.11%		11.50%		11.66%		11.73%		11.7%

Supplementary Leverage Ratio and Components
Common Equity Tier 1 Capital (CET1)⁽⁵⁾	$	136,853	$	139,622	$	142,158	$	147,274	$	148,945
Additional Tier 1 Capital (AT1)⁽⁷⁾		17,609		17,988		18,153		19,779		21,540
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	154,462	$	157,610	$	160,311	$	167,053	$	170,485
Total Leverage Exposure (TLE)⁽⁵⁾⁽⁸⁾	$	2,591,883	$	2,374,170	$	2,349,620	$	2,386,881	$	2,445,848
Supplementary Leverage ratio (T1C/TLE)		5.96%		6.64%		6.82%		7.00%		7.0%


Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share
Common stockholders' equity	$	174,695	$	173,726	$	175,896	$	179,962	$	182,269
Less:
Goodwill		21,264		21,399		21,624		22,162		21,905
Intangible assets (other than MSRs)		4,193		4,106		4,470		4,411		4,308
Tangible common equity (TCE)	$	149,238	$	148,221	$	149,802	$	153,389	$	156,056
Common shares outstanding (CSO)		2,081.8		2,081.9		2,082.0		2,082.1		2,067.0
Book value per share (common equity/CSO)	$	83.92	$	83.45	$	84.48	$	86.43	$	88.18
Tangible book value per share (TCE/CSO)	$	71.69	$	71.20	$	71.95	$	73.67	$	75.50

(1)	See footnote 3 on page 1.

(2)	See footnote 1 on page 1.

(3)	Preliminary.

(4)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

(5)	See footnote 5 on page 1.

(6)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(7)	Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

(8)

Commencing with the second quarter of 2020, Citigroup's TLE temporarily excludes U.S. Treasuries and deposits at Federal Reserve banks. For additional information, please refer to the "Capital Resources" section of Citigroup's 2020 Form 10-K. This temporary SLR relief will expire as scheduled after March 31, 2021

Reclassified to conform to the current period's presentation.

Page 27

CITIGROUP INC - FORM 8-K - EX-99.2 BYLAWS - EXHIBIT 99.2 - April 15, 2021

Attached files