Enhanced Investments - Financial Portal

Published: 2022-04-14 00:00:00 ET

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Exhibit 99.2


CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT	1Q22


		Page
	Citigroup
	Financial Summary	1
	Consolidated Statement of Income	2
	Consolidated Balance Sheet	3
	Operating Segment and Reporting Unit - Net Revenues and Income	4

	Institutional Clients Group (ICG)	5
	Reporting Unit Revenues	6
	Personal Banking and Wealth Management (PBWM)	7
	Metrics	8
	Legacy Franchises	9
	Corporate / Other	10

	Citigroup Supplemental Detail
	Average Balances and Interest Rates	11
	EOP Loans	12
	Deposits	13
	Allowance for Credit Losses (ACL) Rollforward	14
	Allowance for Credit Losses on Loans and Unfunded Lending Commitments	15 - 16
	Non-Accrual Assets	17
	CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity,	18
	Book Value Per Share and Tangible Book Value Per Share

CITIGROUP FINANCIAL SUMMARY

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


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

Total revenues, net of interest expense⁽¹⁾⁽²⁾	$	19,667	$	17,753	$	17,447	$	17,017	$	19,186	13%	(2%)
Total operating expenses⁽¹⁾⁽³⁾		11,413		11,471		11,777		13,532		13,165	(3%)	15%
Net credit losses (NCLs)		1,748		1,320		961		866		872	1%	(50%)
Credit reserve build / (release) for loans		(3,227)		(2,446)		(1,149)		(1,176)		(612)	48%	81%
Provision / (release) for unfunded lending commitments		(626)		44		(13)		(193)		474	NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		50		16		9		38		21	(45%)	(58%)
Provisions for credit losses and for benefits and claims		(2,055)		(1,066)		(192)		(465)		755	NM	NM
Income from continuing operations before income taxes		10,309		7,348		5,862		3,950		5,266	33%	(49%)
Income taxes⁽⁴⁾		2,332		1,155		1,193		771		941	22%	(60%)
Income from continuing operations		7,977		6,193		4,669		3,179		4,325	36%	(46%)
Income (loss) from discontinued operations, net of taxes		(2)		10		(1)		-		(2)	NM	-
Net income before noncontrolling interests		7,975		6,203		4,668		3,179		4,323	36%	(46%)
Net income (loss) attributable to noncontrolling interests		33		10		24		6		17	NM	(48%)
Citigroup's net income	$	7,942	$	6,193	$	4,644	$	3,173	$	4,306	36%	(46%)

Diluted earnings per share:
Income from continuing operations	$	3.62	$	2.84	$	2.15	$	1.46	$	2.02	38%	(44%)
Citigroup's net income	$	3.62	$	2.85	$	2.15	$	1.46	$	2.02	38%	(44%)

Preferred dividends	$	292	$	253	$	266	$	229	$	279	22%	(4%)

Income allocated to unrestricted common shareholders - basic
Income from continuing operations	$	7,586	$	5,889	$	4,353	$	2,924	$	4,004	37%	(47%)
Citigroup's net income	$	7,584	$	5,899	$	4,352	$	2,924	$	4,002	37%	(47%)

Income allocated to unrestricted common shareholders - diluted
Income from continuing operations	$	7,593	$	5,897	$	4,361	$	2,932	$	4,012	37%	(47%)
Citigroup's net income	$	7,591	$	5,907	$	4,360	$	2,932	$	4,010	37%	(47%)

Shares (in millions):
Average basic		2,082.0		2,056.5		2,009.3		1,984.3		1,971.7	(1%)	(5%)
Average diluted		2,096.6		2,073.0		2,026.2		2,001.6		1,988.2	(1%)	(5%)
Common shares outstanding, at period end		2,067.0		2,026.8		1,984.3		1,984.4		1,941.9	(2%)	(6%)


Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(5)(6)(7)		11.57%		11.77%		11.65%		12.25%		11.4%
Tier 1 Capital ratio^(5)(6)(7)		13.24%		13.28%		13.15%		13.91%		13.0%
Total Capital ratio^(5)(6)(7)		15.36%		15.58%		15.37%		16.04%		14.8%
Supplementary Leverage ratio (SLR)^(5)(7)(8)		6.95%		5.84%		5.80%		5.73%		5.6%
Return on average assets		1.39%		1.06%		0.79%		0.53%		0.74%
Return on average common equity		17.2%		13.0%		9.5%		6.4%		9.0%
Average tangible common equity (TCE) (in billions of dollars)	$	154.7	$	156.9	$	157.4	$	157.0	$	155.3	(1%)	-
Return on average tangible common equity(RoTCE)		20.1%		15.2%		11.0%		7.4%		10.5%
Efficiency ratio (total operating expenses/total revenues, net)		58.0%		64.6%		67.5%		79.5%		68.6%

Balance sheet data (in billions of dollars, except per share amounts):
Total assets	$	2,314.3	$	2,327.9	$	2,361.9	$	2,291.4	$	2,394.1	4%	3%
Total average assets		2,316.8		2,341.8		2,346.0		2,386.2		2,374.0	(1%)	2%
Total loans		666.0		676.8		664.8		667.8		659.7	(1%)	(1%)
Total deposits		1,301.0		1,310.3		1,347.5		1,317.2		1,333.7	1%	3%
Citigroup's stockholders' equity		202.5		202.2		200.9		202.0		197.7	(2%)	(2%)
Book value per share		88.18		90.86		92.16		92.21		92.03	-	4%
Tangible book value per share		75.50		77.87		79.07		79.16		79.03	-	5%

Direct staff (in thousands)		211		214		220		223		228	2%	8%

(1)

During the fourth quarter of 2021, Citi reclassified deposit insurance expenses from Interest expense to Other operating expenses for all periods presented. For additional information, see Note 1 to the Consolidated Financial Statements in Citi's 2021 Annual Report on Form 10-K.

(2)

The third quarter of 2021 includes an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi's agreement to sell its Australia consumer banking business.

(3)

The fourth quarter of 2021 includes approximately $1.052 billion in expenses (approximately $792 million after-tax), primarily related to charges incurred from the voluntary early retirement plan (VERP) in connection with the wind-down of Citi's consumer banking business in Korea.

(4)

2021 includes an approximate $600 million benefit from a reduction in Citi’s valuation allowance related to its Deferred Tax Assets (DTAs).

(5)

1Q22 is preliminary.

(6)

Citi's reportable CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Advanced Approaches framework as of March 31, 2021, and the Basel III Standardized Approach framework for the subsequent periods presented. Citi's reportable Total Capital ratios were derived under the Basel III Advanced Approaches framework for all periods presented. These reportable ratios reflect the more binding ratios 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 18.

(7)

Citi's regulatory capital ratios reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. For additional information, see "Capital Resources" in Citi's 2021 Annual Report on Form 10-K.

(8)

For the composition of Citi's SLR, see page 18.

Note: Ratios and variance percentages are calculated based on the displayed amounts.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
Revenues
Interest revenue	$	12,534	$	12,463	$	12,650	$	12,828	$	13,151	3%	5%
Interest expense⁽¹⁾		2,028		1,985		1,959		2,009		2,280	13%	12%
Net interest income (NII)		10,506		10,478		10,691		10,819		10,871	-	3%

Commissions and fees		3,670		3,374		3,399		3,229		2,568	(20%)	(30%)
Principal transactions		3,913		2,304		2,233		1,704		4,590	NM	17%
Administrative and other fiduciary fees		961		1,022		1,007		953		966	1%	1%
Realized gains (losses) on investments		401		137		117		10		80	NM	(80%)
Impairment losses on investments and other assets		(69)		(13)		(30)		(94)		(90)	4%	(30%)
Provision for credit losses on AFS debt securities⁽²⁾		-		-		(1)		(2)		-	100%	-
Other revenue (loss)		285		451		31		398		201	(49%)	(29%)
Total non-interest revenues (NIR)		9,161		7,275		6,756		6,198		8,315	34%	(9%)
Total revenues, net of interest expense		19,667		17,753		17,447		17,017		19,186	13%	(2%)


Provisions for credit losses and for benefits and claims
Net credit losses		1,748		1,320		961		866		872	1%	(50%)
Credit reserve build / (release) for loans		(3,227)		(2,446)		(1,149)		(1,176)		(612)	48%	81%
Provision for credit losses on loans		(1,479)		(1,126)		(188)		(310)		260	NM	NM
Provision for credit losses on held-to-maturity (HTM) debt securities		(11)		4		(10)		14		(2)	NM	82%
Provision for credit losses on other assets		9		(3)		(3)		(3)		(4)	(33%)	NM
Policyholder benefits and claims		52		15		22		27		27	-	(48%)
Provision for credit losses on unfunded lending commitments		(626)		44		(13)		(193)		474	NM	NM
Total provisions for credit losses and for benefits and claims⁽³⁾		(2,055)		(1,066)		(192)		(465)		755	NM	NM

Operating expenses
Compensation and benefits		6,001		5,982		6,058		7,093		6,820	(4%)	14%
Premises and equipment		576		558		560		620		543	(12%)	(6%)
Technology / communication		1,852		1,895		1,997		2,084		2,016	(3%)	9%
Advertising and marketing		270		340		402		478		311	(35%)	15%
Other operating⁽¹⁾		2,714		2,696		2,760		3,257		3,475	7%	28%
Total operating expenses		11,413		11,471		11,777		13,532		13,165	(3%)	15%


Income from continuing operations before income taxes		10,309		7,348		5,862		3,950		5,266	33%	(49%)
Provision for income taxes⁽⁴⁾		2,332		1,155		1,193		771		941	22%	(60%)

Income (loss) from continuing operations		7,977		6,193		4,669		3,179		4,325	36%	(46%)
Discontinued operations
Income (loss) from discontinued operations		(2)		10		(1)		-		(2)	NM	-
Provision (benefit) for income taxes		-		-		-		-		-	-	-
Income (loss) from discontinued operations, net of taxes		(2)		10		(1)		-		(2)	NM	-

Net income before noncontrolling interests		7,975		6,203		4,668		3,179		4,323	36%	(46%)
Net income (loss) attributable to noncontrolling interests		33		10		24		6		17	NM	(48%)
Citigroup's net income	$	7,942	$	6,193	$	4,644	$	3,173	$	4,306	36%	(46%)

(1)See footnote 1 on page 1.

(2)This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.

(3)This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.

(4)See footnote 4 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)


											1Q22 Increase/
	March 31,		June 30,		September 30,		December 31,		March 31,		(Decrease) from
	2021		2021		2021		2021		2022⁽¹⁾		4Q21	1Q21
Assets
Cash and due from banks (including segregated cash and other deposits)	$	26,204	$	27,117	$	28,906	$	27,515	$	27,768	1%	6%
Deposits with banks, net of allowance		298,478		272,121		294,902		234,518		244,319	4%	(18%)
Securities borrowed and purchased under agreements to resell, net of allowance		315,072		309,047		337,696		327,288		345,410	6%	10%
Brokerage receivables, net of allowance		60,465		61,138		59,487		54,340		89,218	64%	48%
Trading account assets		360,659		370,950		342,914		331,945		357,997	8%	(1%)
Investments
Available-for-sale debt securities, net of allowance		304,036		302,977		295,573		288,522		264,774	(8%)	(13%)
Held-to-maturity debt securities, net of allowance		161,742		176,742		198,056		216,963		242,547	12%	50%
Equity securities		7,181		7,344		7,220		7,337		7,281	(1%)	1%
Total investments		472,959		487,063		500,849		512,822		514,602	-	9%
Loans, net of unearned income
Consumer⁽²⁾		375,532		380,804		369,292		376,534		350,328	(7%)	(7%)
Corporate⁽³⁾		290,456		296,030		295,472		291,233		309,341	6%	7%
Loans, net of unearned income		665,988		676,834		664,764		667,767		659,669	(1%)	(1%)
Allowance for credit losses on loans (ACLL)		(21,638)		(19,238)		(17,715)		(16,455)		(15,393)	6%	29%
Total loans, net		644,350		657,596		647,049		651,312		644,276	(1%)	-
Goodwill		21,905		22,060		21,573		21,299		19,865	(7%)	(9%)
Intangible assets (including MSRs)		4,741		4,687		4,553		4,495		4,522	1%	(5%)
Other assets, net of allowance		109,433		116,089		123,947		125,879		146,128	16%	34%
Total assets	$	2,314,266	$	2,327,868	$	2,361,876	$	2,291,413	$	2,394,105	4%	3%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	138,192	$	149,373	$	145,103	$	158,552	$	153,666	(3%)	11%
Interest-bearing deposits in U.S. offices		497,335		485,589		567,902		543,283		557,327	3%	12%
Total U.S. deposits		635,527		634,962		713,005		701,835		710,993	1%	12%
Non-interest-bearing deposits in offices outside the U.S.		101,662		101,723		94,016		97,270		98,579	1%	(3%)
Interest-bearing deposits in offices outside the U.S.		563,786		573,596		540,507		518,125		524,139	1%	(7%)
Total international deposits		665,448		675,319		634,523		615,395		622,718	1%	(6%)

Total deposits		1,300,975		1,310,281		1,347,528		1,317,230		1,333,711	1%	3%
Securities loaned and sold under agreements to resell		219,168		221,817		209,184		191,285		204,494	7%	(7%)
Brokerage payables		60,907		59,416		60,501		61,430		91,324	49%	50%
Trading account liabilities		179,117		174,706		179,286		161,529		188,059	16%	5%
Short-term borrowings		32,087		31,462		29,683		27,973		30,144	8%	(6%)
Long-term debt		256,335		264,575		258,274		254,374		253,954	-	(1%)
Other liabilities⁽⁴⁾		62,404		62,701		75,810		74,920		94,066	26%	51%
Total liabilities	$	2,110,993	$	2,124,958	$	2,160,266	$	2,088,741	$	2,195,752	5%	4%

Equity
Stockholders' equity
Preferred stock	$	20,280	$	17,995	$	17,995	$	18,995	$	18,995	-	(6%)
Common stock		31		31		31		31		31	-	-
Additional paid-in capital		107,694		107,820		107,922		108,003		108,050	-	-
Retained earnings		174,816		179,686		183,024		184,948		187,962	2%	8%
Treasury stock, at cost		(65,261)		(68,253)		(71,246)		(71,240)		(73,744)	(4%)	(13%)
Accumulated other comprehensive income (loss) (AOCI)⁽⁵⁾		(35,011)		(35,120)		(36,851)		(38,765)		(43,585)	(12%)	(24%)
Total common equity	$	182,269	$	184,164	$	182,880	$	182,977	$	178,714	(2%)	(2%)

Total Citigroup stockholders' equity	$	202,549	$	202,159	$	200,875	$	201,972	$	197,709	(2%)	(2%)
Noncontrolling interests		724		751		735		700		644	(8%)	(11%)
Total equity		203,273		202,910		201,610		202,672		198,353	(2%)	(2%)
Total liabilities and equity	$	2,314,266	$	2,327,868	$	2,361,876	$	2,291,413	$	2,394,105	4%	3%

(1)	Preliminary.

(2)	Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business & Middle-Market Banking (Mexico SBMM) loans).

(3)	Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.

(4)	Includes allowance for credit losses for unfunded lending commitments. See page 15.

(5)

As discussed in note 2 on page 1, Citi's third quarter of 2021 results include an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi’s agreement to sell its Australia consumer banking business. The loss primarily reflects the impact of an approximate $625 million ($475 million (after-tax)) currency translation adjustment (CTA) loss (net of hedges) at September 30, 2021, December 31, 2021 and March 31, 2022, already reflected in the Accumulated Other Comprehensive Income (AOCI) component of equity. Upon closing, the CTA balance will be removed from the AOCI component of equity, resulting in a neutral impact from CTA to Citi’s Common Equity Tier 1 Capital.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 3

OPERATING SEGMENT AND REPORTING UNIT DETAILS

(In millions of dollars)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
Net revenues
Institutional Clients Group	$	11,388	$	9,549	$	9,991	$	8,908	$	11,160	25%	(2%)
Personal Banking and Wealth Management		5,992		5,698		5,852		5,785		5,905	2%	(1%)
Legacy Franchises		2,243		2,279		1,536		2,193		1,931	(12%)	(14%)
Corporate/Other		44		227		68		131		190	45%	NM

Total net revenues	$	19,667	$	17,753	$	17,447	$	17,017	$	19,186	13%	(2%)

Income from continuing operations
Institutional Clients Group	$	5,430	$	3,433	$	3,115	$	2,330	$	2,658	14%	(51%)
Personal Banking and Wealth Management		2,420		1,805		1,896		1,613		1,860	15%	(23%)
Legacy Franchises		320		492		(201)		(620)		(385)	38%	NM
Corporate/Other		(193)		463		(141)		(144)		192	NM	NM

Income from continuing operations	$	7,977	$	6,193	$	4,669	$	3,179	$	4,325	36%	(46%)

Discontinued operations		(2)		10		(1)		-		(2)	NM	-

Net income attributable to noncontrolling interests		33		10		24		6		17	NM	(48%)

Net income	$	7,942	$	6,193	$	4,644	$	3,173	$	4,306	36%	(46%)

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 4

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
Commissions and fees	$	1,110	$	1,071	$	1,055	$	1,064	$	1,130	6%	2%
Administration and other fiduciary fees		657		698		676		662		672	2%	2%
Investment banking		1,787		1,568		1,685		1,669		1,039	(38%)	(42%)
Principal transactions		3,745		2,135		2,229		1,654		4,442	NM	19%
Other		356		317		608		91		93	2%	(74%)
Total non-interest revenue		7,655		5,789		6,253		5,140		7,376	44%	(4%)
Net interest income (including dividends)		3,733		3,760		3,738		3,768		3,784	-	1%
Total revenues, net of interest expense		11,388		9,549		9,991		8,908		11,160	25%	(2%)
Total operating expenses		5,932		5,829		5,963		6,225		6,723	8%	13%
Net credit losses on loans		175		68		31		82		30	(63%)	(83%)
Credit reserve build / (release) for loans		(1,103)		(812)		14		(192)		596	NM	NM
Provision for credit losses on unfunded lending commitments		(606)		47		(13)		(181)		352	NM	NM
Provisions for credit losses for HTM debt securities and other assets		(5)		3		(8)		10		(7)	NM	(40%)
Provision for credit losses		(1,539)		(694)		24		(281)		971	NM	NM
Income from continuing operations before taxes		6,995		4,414		4,004		2,964		3,466	17%	(50%)
Income taxes		1,565		981		889		634		808	27%	(48%)
Income from continuing operations		5,430		3,433		3,115		2,330		2,658	14%	(51%)
Noncontrolling interests		37		12		24		10		18	80%	(51%)
Net income	$	5,393	$	3,421	$	3,091	$	2,320	$	2,640	14%	(51%)
EOP assets (in billions)	$	1,636	$	1,654	$	1,670	$	1,613	$	1,704	6%	4%
Average assets (in billions)		1,649		1,667		1,660		1,698		1,685	(1%)	2%
Efficiency ratio		52%		61%		60%		70%		60%

Revenue by reporting unit
Services	$	3,000	$	3,140	$	3,141	$	3,258	$	3,448	6%	15%
Markets		5,933		4,255		4,387		3,343		5,826	74%	(2%)
Banking		2,455		2,154		2,463		2,307		1,886	(18%)	(23%)
Total revenues, net of interest expense	$	11,388	$	9,549	$	9,991	$	8,908	$	11,160	25%	(2%)

Revenue by region
North America	$	4,475	$	3,279	$	3,727	$	3,278	$	3,722	14%	(17%)
EMEA		3,602		3,127		2,981		2,705		4,030	49%	12%
Latin America		1,000		1,035		1,129		1,113		1,141	3%	14%
Asia		2,311		2,108		2,154		1,812		2,267	25%	(2%)
Total revenues, net of interest expense	$	11,388	$	9,549	$	9,991	$	8,908	$	11,160	25%	(2%)

Income (loss) from continuing operations by region
North America	$	2,529	$	1,074	$	718	$	768	$	589	(23%)	(77%)
EMEA		1,440		1,101		990		672		928	38%	(36%)
Latin America		500		507		580		473		359	(24%)	(28%)
Asia		961		751		827		417		782	88%	(19%)
Income from continuing operations	$	5,430	$	3,433	$	3,115	$	2,330	$	2,658	14%	(51%)

Average loans by reporting unit (in billions)
Services	$	70	$	74	$	76	$	77	$	81	5%	16%
Banking		197		197		196		195		194	(1%)	(2%)
Markets		14		16		17		17		14	(18%)	-
Total	$	281	$	287	$	289	$	289	$	289	-	3%

Average deposits by reporting unit (in billions)
Treasury and trade solutions (TTS)	$	653	$	652	$	668	$	684	$	664	(3%)	2%
Securities services		128		137		135		140		135	(4%)	5%
Services		781		789		803		824		799	(3%)	2%
Markets		28		29		28		28		27	(4%)	(4%)
Total	$	809	$	818	$	831	$	852	$	826	(3%)	2%

Services Key Drivers (in billions of dollars, except as otherwise noted)
AUC/AUA (in trillions of dollars)	$	21.2	$	22.7	$	22.6	$	23.7	$	23.0	(3%)	8%
Cross border transaction value	$	64.5	$	67.8	$	69.0	$	78.2	$	75.6	(3%)	17%
U.S.-dollar clearing volume (in millions)		35.4		36.0		37.0		37.8		36.1	(4%)	2%
Commercial card spend volume	$	7.4	$	9.3	$	10.5	$	11.4	$	11.4	-	54%

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 5

INSTITUTIONAL CLIENTS GROUP

REPORTING UNIT REVENUES

(In millions of dollars, except as otherwise noted)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
Services
Net interest income	$	1,617	$	1,640	$	1,613	$	1,682	$	1,907	13%	18%
Non-interest revenue		1,383		1,500		1,528		1,576		1,541	(2%)	11%
Total Services revenues	$	3,000	$	3,140	$	3,141	$	3,258	$	3,448	6%	15%

Net interest income	$	1,405	$	1,427	$	1,389	$	1,444	$	1,659	15%	18%
Non-interest revenue		783		858		908		960		931	(3%)	19%
Treasury and trade solutions	$	2,188	$	2,285	$	2,297	$	2,404	$	2,590	8%	18%

Net interest income	$	212	$	213	$	224	$	238	$	248	4%	17%
Non-interest revenue		600		642		620		616		610	(1%)	2%
Securities services	$	812	$	855	$	844	$	854	$	858	-	6%


Markets
Net interest income	$	1,309	$	1,379	$	1,265	$	1,250	$	1,109	(11%)	(15%)
Non-interest revenue		4,624		2,876		3,122		2,093		4,717	NM	2%
Total Markets revenues	$	5,933	$	4,255	$	4,387	$	3,343	$	5,826	74%	(2%)

Fixed income markets	$	4,346	$	3,111	$	3,040	$	2,425	$	4,299	77%	(1%)
Equity markets		1,587		1,144		1,347		918		1,527	66%	(4%)
Total	$	5,933	$	4,255	$	4,387	$	3,343	$	5,826	74%	(2%)

Rates and currencies	$	3,024	$	1,978	$	2,112	$	1,721	$	3,231	88%	7%
Spread products / other fixed income		1,322		1,133		928		704		1,068	52%	(19%)
Total fixed income markets revenues	$	4,346	$	3,111	$	3,040	$	2,425	$	4,299	77%	(1%)


Banking
Net interest income	$	807	$	741	$	860	$	836	$	768	(8%)	(5%)
Non-interest revenue		1,648		1,413		1,603		1,471		1,118	(24%)	(32%)
Total Banking revenues, including gain/(loss) on loan hedges	$	2,455	$	2,154	$	2,463	$	2,307	$	1,886	(18%)	(23%)
Investment banking
Advisory	$	281	$	405	$	539	$	571	$	347	(39%)	23%
Equity underwriting		835		484		468		462		185	(60%)	(78%)
Debt underwriting		682		614		770		520		496	(5%)	(27%)
Total investment banking		1,798		1,503		1,777		1,553		1,028	(34%)	(43%)
Corporate lending - excluding gain/(loss) on loan hedges⁽¹⁾		735		688		732		733		689	(6%)	(6%)
Total Banking revenues (ex-gain/(loss) on loan hedges)⁽¹⁾	$	2,533	$	2,191	$	2,509	$	2,286	$	1,717	(25%)	(32%)
Gain/(loss) on loan hedges⁽¹⁾		(78)		(37)		(46)		21		169	NM	NM
Total Banking revenues including gain/(loss) on loan hedges⁽¹⁾	$	2,455	$	2,154	$	2,463	$	2,307	$	1,886	(18%)	(23%)


Total ICG revenues, net of interest expense	$	11,388	$	9,549	$	9,991	$	8,908	$	11,160	25%	(2%)
Taxable-equivalent adjustments⁽²⁾		114		181		105		159		100	(37%)	(12%)

Total ICG revenues - including taxable-equivalent adjustments⁽²⁾	$	11,502	$	9,730	$	10,096	$	9,067	$	11,260	24%	(2%)

(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 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.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 6

PERSONAL BANKING AND WEALTH MANAGEMENT

(In millions of dollars, except as otherwise noted)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
Net interest income	$	5,165	$	4,985	$	5,174	$	5,322	$	5,385	1%	4%
Non-interest revenue		827		713		678		463		520	12%	(37%)
Total revenues, net of interest expense		5,992		5,698		5,852		5,785		5,905	2%	(1%)
Total operating expenses		3,422		3,547		3,624		4,017		3,889	(3%)	14%
Net credit losses on loans		990		862		641		568		691	22%	(30%)
Credit reserve build / (release) for loans		(1,542)		(1,040)		(836)		(866)		(1,062)	(23%)	31%
Provision for credit losses on unfunded lending commitments		(11)		5		(7)		(3)		(2)	33%	82%
Provisions for benefits and claims, and other assets		6		3		1		5		(3)	NM	NM
Provisions for credit losses and for benefits and claims (PBC)		(557)		(170)		(201)		(296)		(376)	(27%)	32%
Income (loss) from continuing operations before taxes		3,127		2,321		2,429		2,064		2,392	16%	(24%)
Income taxes (benefits)		707		516		533		451		532	18%	(25%)
Income (loss) from continuing operations		2,420		1,805		1,896		1,613		1,860	15%	(23%)
Noncontrolling interests		-		-		-		-		-	-	-
Net income (loss)	$	2,420	$	1,805	$	1,896	$	1,613	$	1,860	15%	(23%)
EOP assets (in billions)	$	461	$	452	$	477	$	464	$	476	3%	3%
Average assets (in billions)		458		458		474		476		474	-	3%
Efficiency ratio		57%		62%		62%		69%		66%
Revenue by reporting unit and component
Branded cards	$	2,104	$	1,968	$	2,045	$	2,073	$	2,090	1%	(1%)
Retail services		1,305		1,210		1,277		1,290		1,299	1%	-
Retail banking		635		618		629		624		595	(5%)	(6%)
U.S. Personal Banking		4,044		3,796		3,951		3,987		3,984	-	(1%)
Private bank		786		747		722		688		779	13%	(1%)
Wealth at Work		171		171		172		177		183	3%	7%
Citigold		991		984		1,007		933		959	3%	(3%)
Global Wealth Management		1,948		1,902		1,901		1,798		1,921	7%	(1%)
Total	$	5,992	$	5,698	$	5,852	$	5,785	$	5,905	2%	(1%)

Average loans by reporting unit (in billions)
U.S. Personal Banking	$	159	$	157	$	158	$	162	$	161	(1%)	1%
Global Wealth Management		144		147		151		150		151	1%	5%
Total	$	303	$	304	$	309	$	312	$	312	-	3%

Average deposits by reporting unit (in billions)
U.S. Personal Banking	$	108	$	113	$	114	$	114	$	118	4%	9%
Global Wealth Management		289		297		310		323		329	2%	14%
Total	$	397	$	410	$	424	$	437	$	447	2%	13%

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 7

PERSONAL BANKING AND WEALTH MANAGEMENT

Metrics


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21
U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise noted)

New account acquisitions (in thousands)
Branded cards		797		907		995		1,069		991	(7%)	24%
Retail services		2,204		2,792		2,526		3,126		2,178	(30%)	(1%)
Credit card spend volume
Branded cards	$	85.8	$	103.5	$	106.0	$	115.2	$	106.8	(7%)	24%
Retail services		18.7		23.6		22.7		27.1		21.4	(21%)	14%
Average loans⁽¹⁾
Branded cards	$	78.7	$	79.4	$	81.9	$	84.5	$	84.0	(1%)	7%
Retail services		43.8		42.3		42.4		43.8		44.2	1%	1%
EOP loans⁽¹⁾
Branded cards	$	78.5	$	82.1	$	82.8	$	87.9	$	85.9	(2%)	9%
Retail services		42.5		42.7		42.7		46.0		44.1	(4%)	4%
NII as a % of average loans⁽²⁾
Branded cards		9.49%		8.90%		9.00%		8.93%		9.16%
Retail services		16.23%		15.70%		16.54%		16.55%		16.93%
NCLs as a % of average loans
Branded cards		2.84%		2.36%		1.73%		1.33%		1.46%
Retail services		3.45%		3.09%		2.23%		2.10%		2.31%
Loans 90+ days past due as a % of EOP loans
Branded cards		0.75%		0.56%		0.44%		0.44%		0.47%
Retail services		1.39%		1.08%		0.99%		1.05%		1.15%
Loans 30-89 days past due as a % of EOP loans
Branded cards		0.62%		0.43%		0.45%		0.46%		0.49%
Retail services		1.21%		0.97%		1.10%		1.17%		1.27%

Average deposits	$	108	$	113	$	114	$	114	$	118	4%	9%
Branches (actual)		687		659		658		658		658	-	(4%)
Mortgage originations	$	4.4	$	4.1	$	3.4	$	3.4	$	3.1	(9%)	(30%)

Global Wealth Management Key Indicators (in billions of dollars)
Client assets	$	756	$	790	$	789	$	814	$	788	(3%)	4%
Average loans		144		147		151		150		151	1%	5%
Average deposits		289		297		310		323		329	2%	14%
U.S. Mortgage originations		4.0		5.0		3.8		3.5		3.7	6%	(8%)

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

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

Reclassified to conform to the current period's presentation.

Page 8

LEGACY FRANCHISES⁽¹⁾

(In millions of dollars, except as otherwise noted)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

Net interest income	$	1,563	$	1,621	$	1,532	$	1,534	$	1,508	(2%)	(4%)
Non-interest revenue⁽²⁾		680		658		4		659		423	(36%)	(38%)
Total revenues, net of interest expense		2,243		2,279		1,536		2,193		1,931	(12%)	(14%)
Total operating expenses⁽³⁾		1,752		1,788		1,748		2,971		2,293	(23%)	31%
Net credit losses on loans		583		390		289		216		151	(30%)	(74%)
Credit reserve build / (release) for loans		(582)		(594)		(327)		(118)		(146)	(24%)	75%
Provision for credit losses on unfunded lending commitments		(9)		(8)		7		(9)		124	NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		52		8		17		23		31	35%	(40%)
Provisions for credit losses and for benefits and claims (PBC)		44		(204)		(14)		112		160	43%	NM
Income from continuing operations before taxes		447		695		(198)		(890)		(522)	41%	NM
Income taxes (benefits)		127		203		3		(270)		(137)	49%	NM
Income (loss) from continuing operations		320		492		(201)		(620)		(385)	38%	NM
Noncontrolling interests		(3)		(2)		(1)		(4)		(2)	50%	33%
Net income (loss)	$	323	$	494	$	(200)	$	(616)	$	(383)	38%	NM
EOP assets (in billions)	$	129	$	131	$	124	$	125	$	122	(2%)	(5%)
Average assets (in billions)		129		128		126		123		124	1%	(4%)
Efficiency ratio		78%		78%		114%		135%		119%

Revenue by reporting unit and component
Asia Consumer	$	1,075	$	1,052	$	330	$	948	$	787	(17%)	(27%)
Mexico Consumer/SBMM		1,137		1,184		1,162		1,168		1,139	(2%)	-
Legacy Holdings Assets		31		43		44		77		5	(94%)	(84%)
Total	$	2,243	$	2,279	$	1,536	$	2,193	$	1,931	(12%)	(14%)

Asia Consumer - Key Indicators (in billions of dollars)
EOP loans	$	54.0	$	53.5	$	42.9	$	41.1	$	19.5	(53%)	(64%)
EOP deposits		54.6		54.0		46.6		43.3		17.5	(60%)	(68%)
Average loans		54.9		54.2		46.4		42.3		23.1	(45%)	(58%)
Net credit losses on loans as a % of average loans		1.67%		1.13%		1.10%		0.96%		0.79%
Loans 90+ days past due as a % of EOP loans		0.68%		0.65%		0.60%		0.51%		0.28%
Loans 30-89 days past due as a % of EOP loans		0.85%		0.87%		0.80%		0.69%		0.32%

Mexico Consumer/SBMM - Key Indicators (in billions of dollars)
EOP loans	$	20.1	$	20.0	$	19.4	$	20.0	$	20.7	4%	3%
EOP deposits		32.6		33.0		31.4		32.7		33.9	4%	4%
Average loans		20.6		20.2		19.6		19.4		19.6	1%	(5%)
Net credit losses on loans as a % of average loans		7.38%		5.14%		3.70%		2.72%		2.55%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		2.35%		1.84%		1.52%		1.38%		1.32%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		2.08%		1.60%		1.46%		1.30%		1.30%

Legacy Holdings Assets - Key Indicators (in billions of dollars)
EOP loans	$	6.1	$	5.0	$	4.2	$	3.9	$	3.7	(5%)	(39%)

(1)

Legacy Franchises consists of the consumer franchises in 13 markets across Asia and EMEA that Citi intends to exit (Asia Consumer), the consumer, small business & middle-market banking (Mexico SBMM) operations in Mexico (collectively Mexico Consumer/SBMM); and Legacy Holdings Assets (primarily North America consumer mortgage loans and other legacy assets).

(2)	See footnote 2 on page 1.

(3)	See footnote 3 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 9

CORPORATE / OTHER⁽¹⁾

(In millions of dollars, except as otherwise noted)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

Net interest income	$	45	$	112	$	247	$	195	$	194	(1%)	NM
Non-interest revenue		(1)		115		(179)		(64)		(4)	94%	NM
Total revenues, net of interest expense		44		227		68		131		190	45%	NM
Total operating expenses		307		307		442		319		260	(18%)	(15%)
Provisions for HTM debt securities and other assets		(3)		2		(1)		-		-	-	100%
Income (loss) from continuing operations before taxes		(260)		(82)		(373)		(188)		(70)	63%	73%
Income taxes (benefits)		(67)		(545)		(232)		(44)		(262)	NM	NM
Income (loss) from continuing operations		(193)		463		(141)		(144)		192	NM	NM
Income (loss) from discontinued operations, net of taxes		(2)		10		(1)		-		(2)	NM	-
Noncontrolling interests		(1)		-		1		-		1	100%	NM
Net income (loss)	$	(194)	$	473	$	(143)	$	(144)	$	189	NM	NM
EOP assets (in billions)	$	88	$	91	$	91	$	89	$	92	3%	5%

(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 and discontinued operations.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 10

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	2021		2021		2022⁽⁵⁾		2021		2021		2022⁽⁵⁾		2021		2021		2022⁽⁵⁾
Assets
Deposits with banks	$	307,340	$	295,330	$	260,536	$	145	$	159	$	296	0.19%		0.21%		0.46%
Securities borrowed and purchased under resale agreements⁽⁶⁾		306,381		341,256		343,636		294		289		394	0.39%		0.34%		0.46%
Trading account assets⁽⁷⁾		307,817		269,149		270,460		1,338		1,276		1,148	1.76%		1.88%		1.72%
Investments		457,949		512,181		518,820		1,780		1,951		2,067	1.58%		1.51%		1.62%
Consumer loans		378,085		371,481		352,230		6,702		6,618		6,262	7.19%		7.07%		7.21%
Corporate loans		287,885		295,927		296,346		2,231		2,328		2,477	3.14%		3.12%		3.39%
Total loans (net of unearned income)⁽⁸⁾		665,970		667,408		648,576		8,933		8,946		8,739	5.44%		5.32%		5.46%
Other interest-earning assets		76,091		86,527		119,816		97		249		549	0.52%		1.14%		1.86%
Total average interest-earning assets	$	2,121,548	$	2,171,851	$	2,161,844	$	12,587	$	12,870	$	13,193	2.41%		2.35%		2.47%

Liabilities
Deposits⁽⁹⁾		1,073,827		1,111,944		1,080,105		712		778		871	0.27%		0.28%		0.33%
Securities loaned and sold under repurchase agreements⁽⁶⁾		235,263		221,948		210,101		253		212		282	0.44%		0.38%		0.54%
Trading account liabilities⁽⁷⁾		117,364		114,233		114,313		114		112		147	0.39%		0.39%		0.52%
Short-term borrowings and other interest-bearing liabilities		93,344		103,523		138,861		31		51		55	0.13%		0.20%		0.16%
Long-term debt⁽¹⁰⁾		206,264		175,804		170,927		918		856		925	1.80%		1.93%		2.19%
Total average interest-bearing liabilities	$	1,726,062	$	1,727,452	$	1,714,307	$	2,028	$	2,009	$	2,280	0.48%		0.46%		0.54%


Net interest income as a % of average interest-earning assets (NIM)⁽⁹⁾							$	10,559	$	10,861	$	10,913	2.02%		1.98%		2.05%

1Q22 increase (decrease) from:													3	bps	7	bps

(1)	Interest revenue and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $53 million for 1Q21, $42 million for 4Q21 and $42 million for 1Q22

(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 2022 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)	See footnote 1 on page 1.

(10)	Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue

Reclassified to conform to the current period's presentation.

Page 11

EOP LOANS⁽¹⁾⁽²⁾

(In billions of dollars)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

Corporate loans - by region
North America	$	126.6	$	127.6	$	127.7	$	126.7	$	129.2	2%	2%
EMEA		76.6		77.6		77.4		75.7		81.2	7%	6%
Latin America		31.7		32.6		31.6		32.2		35.9	11%	13%
Asia		55.6		58.2		58.8		56.6		63.0	11%	13%
Total corporate loans	$	290.5	$	296.0	$	295.5	$	291.2	$	309.3	6%	6%

Corporate loans - by reporting unit
Services	$	72.7	$	77.5	$	79.8	$	75.2	$	86.7	15%	19%
Markets		16.0		17.3		17.5		15.1		14.6	(3%)	(9%)
Banking		195.1		194.7		191.8		194.2		200.9	3%	3%
Legacy Franchises - Mexico SBMM		6.7		6.5		6.4		6.7		7.1	6%	6%
Total corporate loans	$	290.5	$	296.0	$	295.5	$	291.2	$	309.3	6%	6%

Personal Banking and Wealth Management
Branded cards	$	78.5	$	82.1	$	82.8	$	87.9	$	85.9	(2%)	9%
Retail services		42.5		42.7		42.7		46.0		44.1	(4%)	4%
Retail banking		35.6		34.3		33.5		33.1		33.3	1%	(6%)
U.S. Personal Banking	$	156.6	$	159.1	$	159.0	$	167.0	$	163.3	(2%)	4%
Global Wealth Management		145.4		149.7		150.2		151.2		150.2	(1%)	3%
Total	$	302.0	$	308.8	$	309.2	$	318.2	$	313.5	(1%)	4%

Legacy Franchises - Consumer
Asia Consumer⁽³⁾	$	54.0	$	53.5	$	42.9	$	41.1	$	19.5	(53%)	(64%)
Mexico Consumer		13.4		13.5		13.0		13.3		13.6	2%	1%
Legacy Holdings Assets		6.1		5.0		4.2		3.9		3.7	(5%)	(39%)
Total	$	73.5	$	72.0	$	60.1	$	58.3	$	36.8	(37%)	(50%)

Total consumer loans	$	375.5	$	380.8	$	369.3	$	376.5	$	350.3	(7%)	(7%)

Total loans	$	666.0	$	676.8	$	664.8	$	667.8	$	659.7	(1%)	(1%)

(1)	Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.

(2)	Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business & Middle-Market Banking (Mexico SBMM) loans).

(3)	Asia Consumer includes loans of certain EMEA countries for all periods presented.

Reclassified to conform to the current period's presentation.

Page 12

DEPOSITS

(In billions of dollars)


											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

ICG by region
North America	$	385.1	$	379.1	$	408.0	$	382.8	$	390.5	2%	1%
EMEA		205.3		204.3		200.3		193.1		208.6	8%	2%
Latin America		36.5		36.7		38.8		37.7		38.9	3%	7%
Asia		171.3		178.4		185.5		175.8		187.5	7%	9%
Total	$	798.2	$	798.5	$	832.6	$	789.4	$	825.5	5%	3%

ICG by reporting unit
Treasury and trade solutions	$	639.8	$	634.9	$	667.8	$	627.9	$	657.5	5%	3%
Securities services		129.9		135.2		136.7		133.8		138.7	4%	7%
Services	$	769.7	$	770.1	$	804.5	$	761.7	$	796.2	5%	3%
Markets		27.0		26.5		26.7		26.4		27.8	5%	3%
Banking		1.5		1.9		1.4		1.3		1.5	15%	-
Total	$	798.2	$	798.5	$	832.6	$	789.4	$	825.5	5%	3%

Personal Banking and Wealth Management
U.S. Personal Banking	$	112.9	$	113.1	$	113.5	$	116.8	$	119.5	2%	6%
Global Wealth Management		293.4		303.9		316.5		329.2		332.1	1%	13%
Total	$	406.3	$	417.0	$	430.0	$	446.0	$	451.6	1%	11%

Legacy Franchises
Asia Consumer⁽¹⁾	$	54.6	$	54.0	$	46.6	$	43.3	$	17.5	(60%)	(68%)
Mexico Consumer/SBMM		32.6		33.0		31.4		32.7		33.9	4%	4%
Legacy Holdings Assets		-		-		-		-		-	-	-
Total	$	87.2	$	87.0	$	78.0	$	76.0	$	51.4	(32%)	(41%)

Corporate/Other		9.3		7.8		6.9		5.8		5.2	(10%)	(44%)

Total deposits - EOP	$	1,301.0	$	1,310.3	$	1,347.5	$	1,317.2	$	1,333.7	1%	3%

Total deposits - average	$	1,304.0	$	1,321.3	$	1,343.0	$	1,370.3	$	1,334.3	(3%)	2%

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

Reclassified to conform to the current period's presentation.

Page 13

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except for ratios)


																	Build						ACLL/EOP
	Balance		Builds / (releases)										FY 2021		Balance		(Release)		1Q22		Balance		Loans
	12/31/20		1Q21		2Q21		3Q21		4Q21		FY 2021		FX/Other		12/31/21		1Q22		FX/Other		3/31/22		3/31/22

Allowance for credit losses on loans (ACLL)
ICG	$	4,356	$	(1,103)	$	(812)	$	14	$	(192)	$	(2,093)	$	(22)	$	2,241	$	596	$	5	$	2,842
Legacy Franchises corporate (Mexico SBMM)		420		(124)		(51)		(61)		(1)		(237)		(9)		174		5		4		183
Total corporate ACLL	$	4,776	$	(1,227)	$	(863)	$	(47)	$	(193)	$	(2,330)	$	(31)	$	2,415	$	601	$	9	$	3,025	1.00%
U.S. Cards	$	14,665	$	(1,301)	$	(840)	$	(763)	$	(921)	$	(3,825)	$	-	$	10,840	$	(1,009)	$	-	$	9,831	7.56%
Retail banking and Global Wealth Management		1,643		(241)		(200)		(73)		55		(459)		(3)		1,181		(53)		(5)		1,123
Total PBWM	$	16,308	$	(1,542)	$	(1,040)	$	(836)	$	(866)	$	(4,284)	$	(3)	$	12,021	$	(1,062)	$	(5)	$	10,954
Legacy Franchises consumer		3,872		(458)		(543)		(266)		(117)		(1,384)		(469)		2,019		(151)		(454)		1,414
Total consumer ACLL	$	20,180	$	(2,000)	$	(1,583)	$	(1,102)	$	(983)	$	(5,668)	$	(472)	$	14,040	$	(1,213)	$	(459)	$	12,368	3.53%
Total ACLL	$	24,956	$	(3,227)	$	(2,446)	$	(1,149)	$	(1,176)	$	(7,998)	$	(503)	$	16,455	$	(612)	$	(450)	$	15,393	2.35%
Allowance for unfunded lending commitments (ACLUC)		2,655		(626)		44		(13)		(193)		(788)		4		1,871		474		(2)		2,343
Total ACLL and ACLUC		27,611														18,326						17,736
Other⁽¹⁾		146		1		1		(13)		11		-		2		148		(6)		(6)		136
Total allowance for credit losses (ACL)	$	27,757	$	(3,852)	$	(2,401)	$	(1,175)	$	(1,358)	$	(8,786)	$	(497)	$	18,474	$	(144)	$	(458)	$	17,872

(1) Includes ACL on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

Page 14

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 1

(In millions of dollars)

											1Q22 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2021		2021		2021		2021		2022		4Q21	1Q21

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	24,956	$	21,638	$	19,238	$	17,715	$	16,455	(7%)	(34%)
Gross credit (losses) on loans		(2,208)		(1,844)		(1,389)		(1,279)		(1,240)	3%	44%
Gross recoveries on loans		460		524		428		413		368	(11%)	(20%)
Net credit (losses) / recoveries on loans (NCLs)		(1,748)		(1,320)		(961)		(866)		(872)	1%	(50%)
Replenishment of NCLs		1,748		1,320		961		866		872	1%	(50%)
Net reserve builds / (releases) for loans		(3,227)		(2,446)		(1,149)		(1,176)		(612)	48%	81%
Provision for credit losses on loans (PCLL)		(1,479)		(1,126)		(188)		(310)		260	NM	NM
Other, net^{(1)(2)(3)(4)(5)(6)}		(91)		46		(374)		(84)		(450)	NM	NM
ACLL at end of period (a)	$	21,638	$	19,238	$	17,715	$	16,455	$	15,393	(6%)	(29%)

Allowance for credit losses on unfunded lending commitments (ACLUC)⁽⁷⁾ (a)	$	2,012	$	2,073	$	2,063	$	1,871	$	2,343	25%	16%

Provision (release) for credit losses on unfunded lending commitments	$	(626)	$	44	$	(13)	$	(193)	$	474	NM	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	23,650	$	21,311	$	19,778	$	18,326	$	17,736	(3%)	(25%)

Total ACLL as a percentage of total loans⁽⁸⁾		3.29%		2.88%		2.69%		2.49%		2.35%

Consumer
ACLL at beginning of period	$	20,180	$	18,096	$	16,566	$	15,105	$	14,040	(7%)	(30%)

NCLs		(1,563)		(1,243)		(922)		(781)		(841)	8%	(46%)
Replenishment of NCLs		1,563		1,243		922		781		841	8%	(46%)
Net reserve builds / (releases) for loans		(2,000)		(1,583)		(1,102)		(983)		(1,213)	(23%)	39%
Provision for credit losses on loans (PCLL)		(437)		(340)		(180)		(202)		(372)	(84%)	15%
Other, net^{(1)(2)(3)(4)(5)(6)}		(84)		53		(359)		(82)		(459)	NM	NM
ACLL at end of period (b)	$	18,096	$	16,566	$	15,105	$	14,040	$	12,368	(12%)	(32%)

Consumer ACLUC⁽⁷⁾ (b)	$	42	$	44	$	35	$	29	$	139	NM	NM

Provision (release) for credit losses on unfunded lending commitments	$	(15)	$	1	$	(9)	$	(5)	$	109	NM	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	18,138	$	16,610	$	15,140	$	14,069	$	12,507	(11%)	(31%)

Consumer ACLL as a percentage of total consumer loans		4.82%		4.35%		4.09%		3.73%		3.53%

Corporate
ACLL at beginning of period	$	4,776	$	3,542	$	2,672	$	2,610	$	2,415	(7%)	(49%)

NCLs		(185)		(77)		(39)		(85)		(31)	(64%)	(83%)
Replenishment of NCLs		185		77		39		85		31	(64%)	(83%)
Net reserve builds / (releases) for loans		(1,227)		(863)		(47)		(193)		601	NM	NM
Provision for credit losses on loans (PCLL)		(1,042)		(786)		(8)		(108)		632	NM	NM
Other, net⁽¹⁾		(7)		(7)		(15)		(2)		9	NM	NM
ACLL at end of period (c)	$	3,542	$	2,672	$	2,610	$	2,415	$	3,025	25%	(15%)

Corporate ACLUC⁽⁷⁾ (c)	$	1,970	$	2,029	$	2,028	$	1,842	$	2,204	20%	12%

Provision (release) for credit losses on unfunded lending commitments	$	(611)	$	43	$	(4)	$	(188)	$	365	NM	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	5,512	$	4,701	$	4,638	$	4,257	$	5,229	23%	(5%)
Corporate ACLL as a percentage of total corporate loans⁽⁷⁾		1.25%		0.93%		0.91%		0.85%		1.00%

Footnotes to this table are on the following page (page 16).

Page 15

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 2

The following footnotes relate to the table on the preceding page (page 15):

(1)	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.

(2)	1Q21 consumer includes a decrease of approximately $84 million related to FX translation.

(3)	2Q21 consumer includes an increase of approximately $53 million related to FX translation.

(4)	3Q21 includes an approximate $280 million reclass related to the announced sale of Citi's consumer banking operations in Australia. The ACLL was reclassified to Other assets during 3Q21. 3Q21 consumer also includes a decrease of approximately $80 million related to FX translation.

(5)	4Q21 includes an approximate $90 million reclass related to the announced sale of Citi's consumer banking operations in the Philippines. The ACLL was reclassified to Other assets during 4Q21. 4Q21 consumer also includes a decrease of approximately $6 million related to FX translation.

(6)

1Q22 includes an approximate $350 million reclass related to the announced sales of Citi's consumer banking businesses in Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain, and Vietnam. The ACLL was reclassified to Other assets during 1Q22. 1Q22 consumer also includes a decrease of approximately $100 million related to FX translation.

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

(8)	March 31, 2021, June 30, 2021, September 30, 2021, December 31, 2021 and March 31, 2022 exclude $7.5 billion, $7.7 billion, $7.2 billion, $6.1 billion, and $5.7 billion respectively, of loans that are carried at fair value.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 16

NON-ACCRUAL ASSETS

(In millions of dollars)


											1Q22 Increase/
		1Q		2Q		3Q		4Q		1Q	(Decrease) from
		2021		2021		2021		2021		2022	4Q21	1Q21

Corporate non-accrual loans by region⁽¹⁾
North America	$	1,211	$	895	$	923	$	510	$	462	(9%)	(62%)
EMEA		562		447		407		367		688	87%	22%
Latin America		739		767		679		568		631	11%	(15%)
Asia		204		141		110		108		85	(21%)	(58%)
Total	$	2,716	$	2,250	$	2,119	$	1,553	$	1,866	20%	(31%)

Corporate non-accrual loans⁽¹⁾
Banking	$	2,362	$	1,852	$	1,739	$	1,239	$	1,323	7%	(44%)
Services		84		81		74		70		297	NM	NM
Markets		20		12		13		12		13	8%	(35%)
Mexico SBMM		250		305		293		232		233	-	(7%)
Total	$	2,716	$	2,250	$	2,119	$	1,553	$	1,866	20%	(31%)

Consumer non-accrual loans⁽¹⁾
Personal Banking and Global Wealth Management	$	817	$	711	$	637	$	680	$	586	(14%)	(28%)
Asia Consumer⁽²⁾		292		303		259		209		38	(82%)	(87%)
Mexico Consumer		720		612		549		524		512	(2%)	(29%)
Legacy Holdings Assets - Consumer		545		506		425		413		381	(8%)	(30%)
Total	$	2,374	$	2,132	$	1,870	$	1,826	$	1,517	(17%)	(36%)

Total non-accrual loans (NAL)	$	5,090	$	4,382	$	3,989	$	3,379	$	3,383	-	(34%)

Other real estate owned (OREO)⁽³⁾	$	43	$	33	$	21	$	27	$	26	(4%)	(40%)

NAL as a percentage of total loans		0.76%		0.65%		0.60%		0.51%		0.51%

ACLL as a percentage of NAL		425%		439%		444%		487%		455%

(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 Consumer 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.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

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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⁾	2021		2021		2021⁽²⁾		2021⁽²⁾		2022⁽²⁾⁽³⁾
Citigroup common stockholders' equity⁽⁴⁾	$	182,402	$	184,289	$	183,005	$	183,108	$	178,845
Add: qualifying noncontrolling interests		132		138		136		143		126
Regulatory capital adjustments and deductions:
Add:
CECL transition and provisionl⁽⁵⁾		4,359		3,774		3,389		3,028		2,271
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		1,037		864		663		101		(1,440)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		(1,172)		(1,258)		(1,317)		(896)		27
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁶⁾		20,854		20,999		20,689		20,619		20,120
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		4,054		3,986		3,899		3,800		3,698
Defined benefit pension plan net assets; other		1,485		2,040		2,068		2,080		2,230
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards		11,691		11,192		10,897		11,270		11,701
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs⁽⁹⁾		-		-		-		-		1,157
Common Equity Tier 1 Capital (CET1)	$	148,944	$	150,378	$	149,631	$	149,305	$	143,749
Risk-Weighted Assets (RWA)⁽⁵⁾	$	1,287,619	$	1,277,234	$	1,284,316	$	1,219,175	$	1,264,581
Common Equity Tier 1 Capital ratio (CET1/RWA)		11.57%		11.77%		11.65%		12.25%		11.4%

Supplementary Leverage Ratio and Components
Common Equity Tier 1 Capital (CET1)⁽⁵⁾	$	148,944	$	150,378	$	149,631	$	149,305	$	143,749
Additional Tier 1 Capital (AT1)⁽⁷⁾		21,540		19,258		19,271		20,263		20,264
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	170,484	$	169,636	$	168,902	$	169,568	$	164,013
Total Leverage Exposure (TLE)⁽⁵⁾⁽⁸⁾	$	2,454,564	$	2,903,760	$	2,911,050	$	2,957,764	$	2,936,715
Supplementary Leverage ratio (T1C/TLE)		6.95%		5.84%		5.80%		5.73%		5.6%

Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders' equity	$	182,269	$	184,164	$	182,880	$	182,977	$	178,714
Less:
Goodwill		21,905		22,060		21,573		21,299		19,865
Intangible assets (other than MSRs)		4,308		4,268		4,144		4,091		4,002
Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS		-		-		257		510		1,384
Tangible common equity (TCE)	$	156,056	$	157,836	$	156,906	$	157,077	$	153,463
Common shares outstanding (CSO)		2,067.0		2,026.8		1,984.3		1,984.4		1,941.9
Book value per share (common equity/CSO)	$	88.18	$	90.86	$	92.16	$	92.21	$	92.03
Tangible book value per share (TCE/CSO)	$	75.50	$	77.87	$	79.07	$	79.16	$	79.03

(1)	See footnote 6 on page 1.

(2)	See footnote 5 on page 3.

(3)	Preliminary.

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

(5)	See footnote 7 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 and continuing through the first quarter of 2021, Citigroup's TLE temporarily excluded U.S. Treasuries and deposits at Federal Reserve banks. For additional information, See "Capital Resources" in Citi's 2021 Annual Report on Form 10-K.

(9)

Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. As of March 31, 2022, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

Reclassified to conform to the current period's presentation.

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