Enhanced Investments - Financial Portal

Published: 2021-07-14 00:00:00 ET

EX-99.2 3 c-20210415xex99d2.htm EXHIBIT 99.2

Exhibit 99.2

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CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT		2Q21


		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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽¹⁾		2020⁽¹⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Total revenues, net of interest expense	$	19,766	$	17,302	$	16,499	$	19,327	$	17,474	(10%)	(12%)	$	40,497	$	36,801	(9%)
Total operating expenses		10,460		10,964		11,104		11,073		11,192	1%	7%		21,103		22,265	6%
Net credit losses (NCLs)		2,161		1,919		1,472		1,748		1,320	(24%)	(39%)		4,220		3,068	(27%)
Credit reserve build / (release) for loans		5,829		12		(1,848)		(3,227)		(2,446)	24%	NM		10,147		(5,673)	NM
Provision / (release) for unfunded lending commitments		113		424		352		(626)		44	NM	(61%)		670		(582)	NM
Provisions for benefits and claims, HTM debt securities and other assets		94		29		(22)		50		16	(68%)	(83%)		120		66	(45%)
Provisions for credit losses and for benefits and claims		8,197		2,384		(46)		(2,055)		(1,066)	48%	NM		15,157		(3,121)	NM
Income from continuing operations before income taxes		1,109		3,954		5,441		10,309		7,348	(29%)	NM		4,237		17,657	NM
Income taxes⁽²⁾		52		777		1,116		2,332		1,155	(50%)	NM		632		3,487	NM
Income from continuing operations		1,057		3,177		4,325		7,977		6,193	(22%)	NM		3,605		14,170	NM
Income (loss) from discontinued operations, net of taxes		(1)		(7)		6		(2)		10	NM	NM		(19)		8	NM
Net income before noncontrolling interests		1,056		3,170		4,331		7,975		6,203	(22%)	NM		3,586		14,178	NM
Net income (loss) attributable to noncontrolling interests		-		24		22		33		10	(70%)	NM		(6)		43	NM
Citigroup's net income	$	1,056	$	3,146	$	4,309	$	7,942	$	6,193	(22%)	NM	$	3,592	$	14,135	NM

Diluted earnings per share⁽³⁾:
Income from continuing operations	$	0.38	$	1.36	$	1.92	$	3.62	$	2.84	(22%)	NM	$	1.44	$	6.47	NM
Citigroup's net income	$	0.38	$	1.36	$	1.92	$	3.62	$	2.85	(21%)	NM	$	1.43	$	6.47	NM
Shares (in millions)⁽³⁾:
Average basic		2,081.7		2,081.8		2,081.9		2,082.0		2,056.5	(1%)	(1%)		2,089.8		2,069.3	(1%)
Average diluted		2,084.3		2,094.3		2,095.7		2,096.6		2,073.0	(1%)	(1%)		2,103.0		2,084.8	(1%)
Common shares outstanding, at period end		2,081.9		2,082.0		2,082.1		2,067.0		2,026.8	(2%)	(3%)

Preferred dividends	$	253	$	284	$	267	$	292	$	253	(13%)	-	$	544	$	545	-

Income allocated to unrestricted common shareholders - basic
Income from continuing operations	$	793	$	2,851	$	4,014	$	7,586	$	5,889	(22%)	NM	$	3,021	$	13,475	NM
Citigroup's net income	$	792	$	2,844	$	4,020	$	7,584	$	5,899	(22%)	NM	$	3,002	$	13,483	NM

Income allocated to unrestricted common shareholders - diluted⁽³⁾
Income from continuing operations	$	793	$	2,858	$	4,021	$	7,593	$	5,897	(22%)	NM	$	3,036	$	13,490	NM
Citigroup's net income	$	792	$	2,851	$	4,027	$	7,591	$	5,907	(22%)	NM	$	3,017	$	13,498	NM

Regulatory capital ratios and performance metrics⁽⁴⁾:
Common Equity Tier 1 (CET1) Capital ratio⁽⁵⁾⁽⁶⁾		11.50%		11.66%		11.73%		11.78%		11.9%
Tier 1 Capital ratio⁽⁵⁾⁽⁶⁾		12.98%		13.15%		13.31%		13.49%		13.4%
Total Capital ratio⁽⁵⁾⁽⁶⁾		15.45%		15.54%		15.61%		15.64%		15.7%
Supplementary Leverage ratio (SLR)⁽⁶⁾⁽⁷⁾		6.64%		6.82%		7.00%		6.96%		5.9%
Return on average assets		0.19%		0.55%		0.75%		1.39%		1.06%				0.33%		1.22%
Return on average common equity		1.8%		6.5%		9.1%		17.2%		13.0%				3.5%		15.1%
Efficiency ratio (total operating expenses/total revenues, net)		52.9%		63.4%		67.3%		57.3%		64.0%				52.1%		60.5%

Balance sheet data (in billions of dollars, except per share amounts)⁽⁴⁾:
Total assets	$	2,232.8	$	2,234.5	$	2,260.1	$	2,314.3	$	2,327.9	1%	4%
Total average assets		2,266.9		2,259.5		2,299.3		2,316.8		2,341.8	1%	3%	$	2,173.5	$	2,329.3	7%
Total deposits		1,233.7		1,262.6		1,280.7		1,301.0		1,310.3	1%	6%
Citigroup's stockholders' equity		191.7		193.9		199.4		202.5		202.2	-	5%
Book value per share		83.45		84.48		86.43		88.18		90.86	3%	9%
Tangible book value per share⁽⁸⁾		71.20		71.95		73.67		75.50		77.87	3%	9%

Direct staff (in thousands)		204		209		210		211		214	1%	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 decrease 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)

2Q21 includes an approximate $450 million benefit from a reduction in Citi’s valuation allowance related to its Deferred Tax Assets (DTAs).

(3)

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.

(4)

2Q21 is preliminary.

(5)

Citi's reportable CET1 Capital and Tier 1 Capital ratios were derived under the U.S. Basel III Standardized Approach framework as of June 30, 2021 and the U.S. Basel III Advanced Approaches framework for all prior periods presented, whereas Citi's reportable 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.

(6)

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.

(7)

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

(8)

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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽¹⁾		2020⁽¹⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)
Revenues
Interest revenue	$	14,589	$	13,314	$	13,047	$	12,534	$	12,463	(1%)	(15%)	$	31,728	$	24,997	(21%)
Interest expense		3,509		2,821		2,564		2,368		2,264	(4%)	(35%)		9,156		4,632	(49%)
Net interest revenue		11,080		10,493		10,483		10,166		10,199	-	(8%)		22,572		20,365	(10%)

Commissions and fees		2,933		2,753		2,678		3,670		3,374	(8%)	15%		5,954		7,044	18%
Principal transactions		4,157		2,508		1,959		3,913		2,304	(41%)	(45%)		9,418		6,217	(34%)
Administrative and other fiduciary fees		819		892		907		961		1,022	6%	25%		1,673		1,983	19%
Realized gains (losses) on investments		748		304		272		401		137	(66%)	(82%)		1,180		538	(54%)
Impairment losses on investments and other assets		(69)		(30)		(11)		(69)		(13)	81%	81%		(124)		(82)	34%
Provision for credit losses on AFS debt securities⁽²⁾		(8)		4		1		-		-	-	100%		(8)		-	100%
Other revenue (loss)		106		378		210		285		451	58%	NM		(168)		736	NM
Total non-interest revenues		8,686		6,809		6,016		9,161		7,275	(21%)	(16%)		17,925		16,436	(8%)
Total revenues, net of interest expense		19,766		17,302		16,499		19,327		17,474	(10%)	(12%)		40,497		36,801	(9%)


Provisions for credit losses and for benefits and claims
Net credit losses		2,161		1,919		1,472		1,748		1,320	(24%)	(39%)		4,220		3,068	(27%)
Credit reserve build / (release) for loans		5,829		12		(1,848)		(3,227)		(2,446)	24%	NM		10,147		(5,673)	NM
Provision for credit losses on loans		7,990		1,931		(376)		(1,479)		(1,126)	24%	NM		14,367		(2,605)	NM
Provision for credit losses on held-to-maturity (HTM) debt securities		31		(16)		(14)		(11)		4	NM	(87%)		37		(7)	NM
Provision for credit losses on other assets		48		(13)		(24)		9		(3)	NM	NM		44		6	(86%)
Policyholder benefits and claims		15		58		16		52		15	(71%)	-		39		67	72%
Provision for credit losses on unfunded lending commitments		113		424		352		(626)		44	NM	(61%)		670		(582)	NM
Total provisions for credit losses and for benefits and claims		8,197		2,384		(46)		(2,055)		(1,066)	48%	NM		15,157		(3,121)	NM

Operating expenses
Compensation and benefits		5,624		5,595		5,341		6,001		5,982	-	6%		11,278		11,983	6%
Premises and equipment		562		575		631		576		558	(3%)	(1%)		1,127		1,134	1%
Technology / communication		1,741		1,891		2,028		1,852		1,895	2%	9%		3,464		3,747	8%
Advertising and marketing		299		238		352		270		340	26%	14%		627		610	(3%)
Other operating		2,234		2,665		2,752		2,374		2,417	2%	8%		4,607		4,791	4%
Total operating expenses		10,460		10,964		11,104		11,073		11,192	1%	7%		21,103		22,265	6%


Income from continuing operations before income taxes		1,109		3,954		5,441		10,309		7,348	(29%)	NM		4,237		17,657	NM
Provision for income taxes		52		777		1,116		2,332		1,155	(50%)	NM		632		3,487	NM

Income (loss) from continuing operations		1,057		3,177		4,325		7,977		6,193	(22%)	NM		3,605		14,170	NM
Discontinued operations
Income (loss) from discontinued operations		(1)		(7)		6		(2)		10	NM	NM		(19)		8	NM
Provision (benefit) for income taxes		-		-		-		-		-	-	-		-		-	-
Income (loss) from discontinued operations, net of taxes		(1)		(7)		6		(2)		10	NM	NM		(19)		8	NM

Net income before noncontrolling interests		1,056		3,170		4,331		7,975		6,203	(22%)	NM		3,586		14,178	NM

Net income (loss) attributable to noncontrolling interests		-		24		22		33		10	(70%)	NM		(6)		43	NM
Citigroup's net income	$	1,056	$	3,146	$	4,309	$	7,942	$	6,193	(22%)	NM	$	3,592	$	14,135	NM

(1)	See footnote 1 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)


											2Q21 Increase/
	June 30,		September 30,		December 31,		March 31,		June 30,		(Decrease) from
	2020⁽¹⁾		2020⁽¹⁾		2020		2021		2021⁽²⁾		1Q21	2Q20
Assets
Cash and due from banks (including segregated cash and other deposits)	$	22,889	$	25,308	$	26,349	$	26,204	$	27,117	3%	18%
Deposits with banks, net of allowance		286,884		298,387		283,266		298,478		272,121	(9%)	(5%)
Securities borrowed and purchased under agreements to resell, net of allowance		282,917		289,358		294,712		315,072		309,047	(2%)	9%
Brokerage receivables, net of allowance		51,633		51,610		44,806		60,465		61,138	1%	18%
Trading account assets		362,311		348,209		375,079		360,659		370,950	3%	2%
Investments
Available-for-sale debt securities, net of allowance		342,256		343,690		335,084		304,036		302,977	-	(11%)
Held-to-maturity debt securities, net of allowance		83,332		96,065		104,943		161,742		176,742	9%	NM
Equity securities		7,665		7,769		7,332		7,181		7,344	2%	(4%)
Total investments		433,253		447,524		447,359		472,959		487,063	3%	12%
Loans, net of unearned income
Consumer		281,113		280,025		288,839		274,034		275,895	1%	(2%)
Corporate		404,179		386,886		387,044		391,954		400,939	2%	(1%)
Loans, net of unearned income		685,292		666,911		675,883		665,988		676,834	2%	(1%)
Allowance for credit losses on loans (ACLL)		(26,298)		(26,426)		(24,956)		(21,638)		(19,238)	11%	27%
Total loans, net		658,994		640,485		650,927		644,350		657,596	2%	-
Goodwill		21,399		21,624		22,162		21,905		22,060	1%	3%
Intangible assets (including MSRs)		4,451		4,804		4,747		4,741		4,687	(1%)	5%
Other assets, net of allowance		108,068		107,150		110,683		109,433		116,089	6%	7%
Total assets	$	2,232,799	$	2,234,459	$	2,260,090	$	2,314,266	$	2,327,868	1%	4%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	115,386	$	121,183	$	126,942	$	138,192	$	149,373	8%	29%
Interest-bearing deposits in U.S. offices		490,823		497,487		503,213		497,335		485,589	(2%)	(1%)
Total U.S. deposits		606,209		618,670		630,155		635,527		634,962	-	5%
Non-interest-bearing deposits in offices outside the U.S.		87,479		94,208		100,543		101,662		101,723	-	16%
Interest-bearing deposits in offices outside the U.S.		539,972		549,745		549,973		563,786		573,596	2%	6%
Total international deposits		627,451		643,953		650,516		665,448		675,319	1%	8%

Total deposits		1,233,660		1,262,623		1,280,671		1,300,975		1,310,281	1%	6%
Securities loaned and sold under agreements to resell		215,722		207,227		199,525		219,168		221,634	1%	3%
Brokerage payables		60,567		54,328		50,484		60,907		59,416	(2%)	(2%)
Trading account liabilities		149,264		146,990		168,027		179,117		174,706	(2%)	17%
Short-term borrowings		40,156		37,439		29,514		32,087		31,462	(2%)	(22%)
Long-term debt		279,775		273,254		271,686		256,335		264,758	3%	(5%)
Other liabilities⁽³⁾		61,269		58,003		59,983		62,404		62,701	-	2%
Total liabilities	$	2,040,413	$	2,039,864	$	2,059,890	$	2,110,993	$	2,124,958	1%	4%

Equity
Stockholders' equity
Preferred stock	$	17,980	$	17,980	$	19,480	$	20,280	$	17,995	(11%)	-
Common stock		31		31		31		31		31	-	-
Additional paid-in capital		107,668		107,764		107,846		107,694		107,820	-	-
Retained earnings		163,515		165,303		168,272		174,816		179,686	3%	10%
Treasury stock, at cost		(64,143)		(64,137)		(64,129)		(65,261)		(68,253)	(5%)	(6%)
Accumulated other comprehensive income (loss) (AOCI)		(33,345)		(33,065)		(32,058)		(35,011)		(35,120)	-	(5%)
Total common equity	$	173,726	$	175,896	$	179,962	$	182,269	$	184,164	1%	6%

Total Citigroup stockholders' equity	$	191,706	$	193,876	$	199,442	$	202,549	$	202,159	-	5%
Noncontrolling interests		680		719		758		724		751	4%	10%
Total equity		192,386		194,595		200,200		203,273		202,910	-	5%
Total liabilities and equity	$	2,232,799	$	2,234,459	$	2,260,090	$	2,314,266	$	2,327,868	1%	4%

(1)See footnote 1 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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020		2020		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Global Consumer Banking
North America	$	4,742	$	4,527	$	4,655	$	4,428	$	4,201	(5%)	(11%)	$	9,966	$	8,629	(13%)
Latin America		1,050		1,027		1,096		1,008		1,053	4%	-		2,249		2,061	(8%)
Asia⁽¹⁾		1,547		1,619		1,554		1,601		1,566	(2%)	1%		3,298		3,167	(4%)
Total		7,339		7,173		7,305		7,037		6,820	(3%)	(7%)		15,513		13,857	(11%)

Institutional Clients Group
North America		4,987		3,920		3,331		4,898		3,718	(24%)	(25%)		9,934		8,616	(13%)
EMEA		3,392		3,085		2,867		3,713		3,253	(12%)	(4%)		6,862		6,966	2%
Latin America		1,207		1,141		1,072		1,136		1,174	3%	(3%)		2,625		2,310	(12%)
Asia		2,551		2,207		2,009		2,473		2,242	(9%)	(12%)		5,200		4,715	(9%)
Total		12,137		10,353		9,279		12,220		10,387	(15%)	(14%)		24,621		22,607	(8%)

Corporate / Other		290		(224)		(85)		70		267	NM	(8%)		363		337	(7%)

Total Citigroup - net revenues	$	19,766	$	17,302	$	16,499	$	19,327	$	17,474	(10%)	(12%)	$	40,497	$	36,801	(9%)

(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)


												2Q21 Increase/		YTD		YTD		YTD 2021 vs.
		2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
		2020⁽¹⁾		2020⁽¹⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Income (loss) from continuing operations⁽²⁾

	Global Consumer Banking
	North America	$	(734)	$	661	$	968	$	1,857	$	1,309	(30%)	NM	$	(1,675)	$	3,166	NM
	Latin America		2		108		166		52		352	NM	NM		(33)		404	NM
	Asia⁽³⁾		27		151		98		262		171	(35%)	NM		219		433	98%
	Total		(705)		920		1,232		2,171		1,832	(16%)	NM		(1,489)		4,003	NM

	Institutional Clients Group
	North America		623		1,023		801		2,779		1,253	(55%)	NM		1,486		4,032	NM
	EMEA		483		880		891		1,466		1,156	(21%)	NM		1,509		2,622	74%
	Latin America		(198)		102		963		645		597	(7%)	NM		325		1,242	NM
	Asia		914		852		645		1,048		823	(21%)	(10%)		2,076		1,871	(10%)
	Total		1,822		2,857		3,300		5,938		3,829	(36%)	NM		5,396		9,767	81%

	Corporate / Other		(60)		(600)		(207)		(132)		532	NM	NM		(302)		400	NM

	Income from continuing operations	$	1,057	$	3,177	$	4,325	$	7,977	$	6,193	(22%)	NM	$	3,605	$	14,170	NM

	Discontinued operations		(1)		(7)		6		(2)		10	NM	NM		(19)		8	NM

	Net income attributable to noncontrolling interests		-		24		22		33		10	(70%)	NM		(6)		43	NM

	Total Citigroup - net income	$	1,056	$	3,146	$	4,309	$	7,942	$	6,193	(22%)	NM	$	3,592	$	14,135	NM

	Average assets (in billions)
	North America	$	1,256	$	1,245	$	1,262	$	1,261	$	1,265	-	1%	$	1,184	$	1,262	7%
	EMEA⁽³⁾		412		412		419		434		453	4%	10%		395		444	12%
	Latin America		128		129		129		124		125	1%	(2%)		129		125	(3%)
	Asia⁽³⁾		378		380		393		407		400	(2%)	6%		372		404	9%
	Corporate / Other		93		94		96		91		99	9%	6%		94		95	1%
	Total	$	2,267	$	2,260	$	2,299	$	2,317	$	2,342	1%	3%	$	2,174	$	2,330	7%

	Return on average assets (ROA) on net income (loss)
	North America		(0.04)%		0.54%		0.56%		1.49%		0.81%				(0.03)%		1.15%
	EMEA⁽³⁾		0.47%		0.83%		0.83%		1.33%		1.02%				0.76%		1.17%
	Latin America		(0.62)%		0.64%		3.48%		2.28%		3.05%				0.46%		2.66%
	Asia⁽³⁾		1.00%		1.05%		0.75%		1.31%		1.00%				1.24%		1.15%
	Corporate / Other		(0.25)%		(2.57)%		(0.84)%		(0.59)%		2.20%				(0.67)%		0.87%
	Total		0.19%		0.55%		0.75%		1.39%		1.06%				0.33%		1.22%

(1)

See footnote1 on page 1.

(2)

During the first quarter of 2021, Citi changed its cost allocations for certain recurring expenses related to investments in infrastructure, and risk and and controls, attributing them from Corporate/Other to GCB and ICG. This reclassification between businesses had no impact on Citi's EBIT or Net income for any period. Prior-period amounts have been reclassified to conform to the current period's presentation.

(3)

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⁽¹⁾

Page 1

(In millions of dollars, except as otherwise noted)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽²⁾		2020⁽²⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Net interest revenue	$	6,534	$	6,251	$	6,343	$	5,953	$	5,847	(2%)	(11%)	$	13,606	$	11,800	(13%)
Non-interest revenue		805		922		962		1,084		973	(10%)	21%		1,907		2,057	8%
Total revenues, net of interest expense		7,339		7,173		7,305		7,037		6,820	(3%)	(7%)		15,513		13,857	(11%)
Total operating expenses		4,122		4,287		4,599		4,400		4,550	3%	10%		8,597		8,950	4%
Net credit losses on loans		1,842		1,598		1,272		1,580		1,253	(21%)	(32%)		3,776		2,833	(25%)
Credit reserve build / (release) for loans		2,299		34		(193)		(1,806)		(1,398)	23%	NM		5,110		(3,204)	NM
Provision for credit losses on unfunded lending commitments		-		5		(4)		-		1	100%	100%		(1)		1	NM
Provisions for benefits and claims, HTM debt securities and other assets		38		45		2		35		9	(74%)	(76%)		58		44	(24%)
Provisions for credit losses and for benefits and claims (PBC)		4,179		1,682		1,077		(191)		(135)	29%	NM		8,943		(326)	NM
Income (loss) from continuing operations before taxes		(962)		1,204		1,629		2,828		2,405	(15%)	NM		(2,027)		5,233	NM
Income taxes (benefits)		(257)		284		397		657		573	(13%)	NM		(538)		1,230	NM
Income (loss) from continuing operations		(705)		920		1,232		2,171		1,832	(16%)	NM		(1,489)		4,003	NM
Noncontrolling interests		(2)		-		(1)		(3)		(2)	33%	-		(3)		(5)	(67%)
Net income (loss)	$	(703)	$	920	$	1,233	$	2,174	$	1,834	(16%)	NM	$	(1,486)	$	4,008	NM
EOP assets (in billions)	$	423	$	435	$	434	$	439	$	432	(2%)	2%
Average assets (in billions)		418	$	434	$	447		439		437	-	5%	$	412	$	438	6%
Return on average assets		(0.68)%		0.84%		1.10%		2.01%		1.68%				(0.73)%		1.85%
Efficiency ratio		56%		60%		63%		63%		67%				55%		65%

Net credit losses as a % of average loans		2.73%		2.33%		1.83%		2.36%		1.87%				2.70%		2.11%

Revenue by business
Retail banking	$	2,836	$	2,916	$	2,936	$	2,844	$	2,802	(1%)	(1%)	$	5,882	$	5,646	(4%)
Cards⁽³⁾		4,503		4,257		4,369		4,193		4,018	(4%)	(11%)		9,631		8,211	(15%)
Total	$	7,339	$	7,173	$	7,305	$	7,037	$	6,820	(3%)	(7%)	$	15,513	$	13,857	(11%)

Net credit losses on loans by business
Retail banking	$	200	$	190	$	185	$	274	$	193	(30%)	(4%)	$	430	$	467	9%
Cards⁽³⁾		1,642		1,408		1,087		1,306		1,060	(19%)	(35%)		3,346		2,366	(29%)
Total	$	1,842	$	1,598	$	1,272	$	1,580	$	1,253	(21%)	(32%)	$	3,776	$	2,833	(25%)

Income from continuing operations by business
Retail banking	$	30	$	264	$	173	$	259	$	272	5%	NM	$	120	$	531	NM
Cards⁽³⁾		(735)		656		1,059		1,912		1,560	(18%)	NM		(1,609)		3,472	NM
Total	$	(705)	$	920	$	1,232	$	2,171	$	1,832	(16%)	NM	$	(1,489)	$	4,003	NM

Foreign currency (FX) translation impact
Total revenue - as reported	$	7,339	$	7,173	$	7,305	$	7,037	$	6,820	(3%)	(7%)	$	15,513	$	13,857	(11%)
Impact of FX translation⁽⁴⁾		200		128		28		21		-				271		-
Total revenues - Ex-FX⁽⁴⁾	$	7,539	$	7,301	$	7,333	$	7,058	$	6,820	(3%)	(10%)	$	15,784	$	13,857	(12%)

Total operating expenses - as reported	$	4,122	$	4,287	$	4,599	$	4,400	$	4,550	3%	10%	$	8,597	$	8,950	4%
Impact of FX translation⁽⁴⁾		121		82		20		16		-				168		-
Total operating expenses - Ex-FX⁽⁴⁾	$	4,243	$	4,369	$	4,619	$	4,416	$	4,550	3%	7%	$	8,765	$	8,950	2%

Total provisions for credit losses & PBC - as reported	$	4,179	$	1,682	$	1,077	$	(191)	$	(135)	29%	NM	$	8,943	$	(326)	NM
Impact of FX translation⁽⁴⁾		84		20		1		5		-				108		-
Total provisions for credit losses & PBC - Ex-FX⁽⁴⁾	$	4,263	$	1,702	$	1,078	$	(186)	$	(135)	27%	NM	$	9,051	$	(326)	NM

Net income (loss) - as reported	$	(703)	$	920	$	1,233	$	2,174	$	1,834	(16%)	NM	$	(1,486)	$	4,008	NM
Impact of FX translation⁽⁴⁾		(6)		16		2		-		-				(6)		-
Total net income (loss) - Ex-FX⁽⁴⁾	$	(709)	$	936	$	1,235	$	2,174	$	1,834	(16%)	NM	$	(1,492)	$	4,008	NM

(1)	See footnote 2 on page 5.

(2)	See footnote 1 on page 1.

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

(4)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the second 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


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

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		2,329		2,323		2,305		2,241		2,209	(1%)	(5%)
Accounts (in millions)		55.5		55.5		53.7		52.9		52.6	(1%)	(5%)
Average deposits	$	301.9	$	319.8	$	333.2	$	345.3	$	352.9	2%	17%
Investment sales		25.6		30.2		29.2		38.4		28.3	(26%)	11%
Investment assets under management (AUMs):
AUMS		153.9		163.5		180.8		183.2		190.7	4%	24%
AUMs related to the LATAM retirement services business		33.0		35.9		40.8		39.2		41.0	5%	24%
Total AUMs	$	186.9	$	199.4	$	221.6	$	222.4	$	231.7	4%	24%
Average loans		121.8		125.6		127.6		127.4		126.0	(1%)	3%
EOP loans:
Mortgages	$	86.0	$	87.5	$	88.9	$	86.7	$	86.3	-	-
Personal, small business and other		37.6		38.3		40.1		39.1		39.0	-	4%
EOP loans	$	123.6	$	125.8	$	129.0	$	125.8	$	125.3	-	1%

Total net interest revenue (in millions)⁽¹⁾	$	1,918	$	1,898	$	1,900	$	1,778	$	1,821	2%	(5%)
As a % of average loans		6.33%		6.01%		5.92%		5.66%		5.80%

Net credit losses on loans (in millions)	$	200	$	190	$	185	$	274	$	193	(30%)	(4%)
As a % of average loans		0.66%		0.60%		0.58%		0.87%		0.61%
Loans 90+ days past due (in millions)⁽²⁾	$	497	$	497	$	632	$	598	$	560	(6%)	13%
As a % of EOP loans		0.40%		0.40%		0.49%		0.48%		0.45%
Loans 30-89 days past due (in millions)⁽²⁾	$	918	$	786	$	860	$	662	$	687	4%	(25%)
As a % of EOP loans		0.75%		0.63%		0.67%		0.53%		0.55%

Cards key indicators (in millions of dollars, except as otherwise noted)
EOP open accounts (in millions)		134.6		132.8		131.8		130.2		129.6	-	(4%)
Purchase sales (in billions)	$	108.3	$	127.1	$	141.9	$	128.3	$	151.1	18%	40%

Average loans (in billions)⁽³⁾		149.7		146.8		148.5		144.3		142.6	(1%)	(5%)
EOP loans (in billions)⁽³⁾		149.0		146.6		153.1		142.1		145.6	2%	(2%)
Average yield⁽⁴⁾		13.40%		12.83%		12.65%		12.65%		12.01%
Total net interest revenue⁽⁵⁾	$	4,616	$	4,353	$	4,443	$	4,175	$	4,026	(4%)	(13%)
As a % of average loans⁽⁵⁾		12.40%		11.80%		11.90%		11.73%		11.32%
Net credit losses on loans	$	1,642	$	1,408	$	1,087	$	1,306	$	1,060	(19%)	(35%)
As a % of average loans		4.41%		3.82%		2.91%		3.67%		2.98%
Net credit margin⁽⁶⁾	$	2,853	$	2,852	$	3,290	$	2,899	$	2,967	2%	4%
As a % of average loans⁽⁶⁾		7.67%		7.73%		8.81%		8.15%		8.35%
Loans 90+ days past due⁽⁷⁾	$	1,969	$	1,479	$	1,875	$	1,577	$	1,230	(22%)	(38%)
As a % of EOP loans		1.32%		1.01%		1.22%		1.11%		0.84%
Loans 30-89 days past due⁽⁷⁾	$	1,585	$	1,612	$	1,657	$	1,341	$	1,074	(20%)	(32%)
As a % of EOP loans		1.06%		1.10%		1.08%		0.94%		0.74%

(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⁽¹⁾

NORTH AMERICA

Page 1

(In millions of dollars, except as otherwise noted)


(In millions of dollars, except as otherwise noted)											2Q21 Increase/		YTD			YTD	YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽²⁾		2020⁽²⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Net interest revenue	$	4,707	$	4,500	$	4,559	$	4,307	$	4,143	(4%)	(12%)	$	9,743	$	8,450	(13%)
Non-interest revenue		35		27		96		121		58	(52%)	66%		223		179	(20%)
Total revenues, net of interest expense		4,742		4,527		4,655		4,428		4,201	(5%)	(11%)		9,966		8,629	(13%)
Total operating expenses		2,418		2,483		2,595		2,479		2,600	5%	8%		5,023		5,079	1%
Net credit losses on loans		1,448		1,182		870		950		817	(14%)	(44%)		2,938		1,767	(40%)
Credit reserve build / (release) for loans		1,839		(10)		(85)		(1,417)		(915)	35%	NM		4,210		(2,332)	NM
Provision for credit losses on unfunded lending commitments		-		5		(4)		-		1	100%	100%		(1)		1	NM
Provisions for benefits and claims, HTM debt securities and other assets		19		(6)		(1)		2		6	NM	(68%)		24		8	(67%)
Provisions for credit losses and for benefits and claims		3,306		1,171		780		(465)		(91)	80%	NM		7,171		(556)	NM
Income (loss) from continuing operations before taxes		(982)		873		1,280		2,414		1,692	(30%)	NM		(2,228)		4,106	NM
Income taxes (benefits)		(248)		212		312		557		383	(31%)	NM		(553)		940	NM
Income (loss) from continuing operations		(734)		661		968		1,857		1,309	(30%)	NM		(1,675)		3,166	NM
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income (loss)	$	(734)	$	661	$	968	$	1,857	$	1,309	(30%)	NM	$	(1,675)	$	3,166	NM
Average assets (in billions)	$	264	$	274	$	278	$	265	$	262	(1%)	(1%)	$	255	$	264	4%
Return on average assets		(1.12)%		0.96%		1.39%		2.84%		2.00%				(1.32)%		2.42%
Efficiency ratio		51%		55%		56%		56%		62%				50%		59%

Net credit losses as a % of average loans		3.22%		2.63%		1.93%		2.21%		1.91%				3.15%		2.06%

Revenue by business
Retail banking	$	1,122	$	1,113	$	1,092	$	1,041	$	1,039	-	(7%)	$	2,252	$	2,080	(8%)
Citi-branded cards		2,218		2,061		2,132		2,091		1,959	(6%)	(12%)		4,565		4,050	(11%)
Citi retail services		1,402		1,353		1,431		1,296		1,203	(7%)	(14%)		3,149		2,499	(21%)
Total	$	4,742	$	4,527	$	4,655	$	4,428	$	4,201	(5%)	(11%)	$	9,966	$	8,629	(13%)

Net credit losses on loans by business
Retail banking	$	33	$	31	$	31	$	26	$	24	(8%)	(27%)	$	70	$	50	(29%)
Citi-branded cards		780		647		500		551		467	(15%)	(40%)		1,561		1,018	(35%)
Citi retail services		635		504		339		373		326	(13%)	(49%)		1,307		699	(47%)
Total	$	1,448	$	1,182	$	870	$	950	$	817	(14%)	(44%)	$	2,938	$	1,767	(40%)

Income (loss) from continuing operations by business
Retail banking	$	(91)	$	25	$	(72)	$	3	$	(49)	NM	46%	$	(185)	$	(46)	75%
Citi-branded cards		(524)		422		639		1,119		924	(17%)	NM		(1,049)		2,043	NM
Citi retail services		(119)		214		401		735		434	(41%)	NM		(441)		1,169	NM
Total	$	(734)	$	661	$	968	$	1,857	$	1,309	(30%)	NM	$	(1,675)	$	3,166	NM

(1)	See footnote 2 on page 5.

(2)	See footnote 1 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 8

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 2


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

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

Branches (actual)		689		689		689		687		659	(4%)	(4%)
Accounts (in millions)		9.1		9.1		9.1		9.1		9.1	-	-
Average deposits	$	172.5	$	182.1	$	188.9	$	197.0	$	204.2	4%	18%
Investment sales		11.0		10.9		10.6		14.6		11.1	(24%)	1%
Investment AUMs		69.3		73.3		80.3		81.7		85.1	4%	23%

Average loans		52.2		53.4		52.8		51.9		50.2	(3%)	(4%)

EOP loans:
Mortgages		48.9		49.0		49.0		46.9		46.0	(2%)	(6%)
Personal, small business and other		4.2		4.1		3.7		4.0		3.7	(8%)	(12%)
Total EOP loans	$	53.1	$	53.1	$	52.7	$	50.9	$	49.7	(2%)	(6%)

Mortgage originations⁽¹⁾	$	6.4	$	6.6	$	6.6	$	5.7	$	5.6	(2%)	(13%)

Third-party mortgage servicing portfolio (EOP)		43.5		42.1		40.2		39.4		38.4	(3%)	(12%)

Net servicing and gain/(loss) on sale (in millions)		81.8		59.1		57.3		44.2		19.3	(56%)	(76%)

Saleable mortgage rate locks		2.2		3.3		2.6		2.3		1.6	(30%)	(27%)

Net interest revenue on loans (in millions)		179		179		174		166		161	(3%)	(10%)
As a % of average loans		1.38%		1.33%		1.31%		1.30%		1.29%

Net credit losses on loans (in millions)	$	33	$	31	$	31	$	26	$	24	(8%)	(27%)
As a % of average loans		0.25%		0.23%		0.23%		0.20%		0.19%

Loans 90+ days past due (in millions)⁽²⁾	$	182	$	211	$	299	$	263	$	236	(10%)	30%
As a % of EOP loans		0.35%		0.40%		0.58%		0.52%		0.48%
Loans 30-89 days past due (in millions)⁽²⁾	$	440	$	378	$	328	$	220	$	268	22%	(39%)
As a % of EOP loans		0.84%		0.72%		0.63%		0.44%		0.55%

(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 $130 million and ($0.5 billion), $148 million and ($0.6 billion), $171 million and ($0.7 billion), $176 million and ($0.7 billion) , and $150 million and ($0.7 billion) as of June 30, 2020, September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 2021, respectively.

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) were $86 million and ($0.5 billion), $88 million and ($0.6 billion), $98 million and ($0.7 billion), $84 million and ($0.7 billion) , and $80 million and ($0.7 billion) as of June 30, 2020, September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 2021, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 9

GLOBAL CONSUMER BANKING

NORTH AMERICA

Page 3


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

Citi-Branded Cards Key Indicators (in millions of dollars, except as otherwise noted)⁽¹⁾
EOP open accounts (in millions)		34.6		34.5		34.5		34.5		34.7	1%	-
Purchase sales (in billions)	$	73.8	$	85.5	$	93.2	$	85.8	$	103.5	21%	40%
Average loans (in billions)⁽¹⁾		82.6		81.2		81.7		78.7		79.4	1%	(4%)
EOP loans (in billions)⁽¹⁾		82.6		81.1		84.0		78.5		82.1	5%	(1%)
Average yield⁽²⁾		10.73%		10.33%		10.19%		10.30%		9.64%	(6%)	(10%)

Total net interest revenue⁽³⁾	$	2,003	$	1,906	$	1,916	$	1,830	$	1,753	(4%)	(12%)
As a % of average loans⁽³⁾		9.75%		9.34%		9.33%		9.43%		8.86%
Net credit losses on loans	$	780	$	647	$	500	$	551	$	467	(15%)	(40%)
As a % of average loans		3.80%		3.17%		2.43%		2.84%		2.36%
Net credit margin⁽⁴⁾	$	1,432	$	1,412	$	1,630	$	1,541	$	1,491	(3%)	4%
As a % of average loans⁽⁴⁾		6.97%		6.92%		7.94%		7.94%		7.53%
Loans 90+ days past due	$	784	$	574	$	686	$	590	$	457	(23%)	(42%)
As a % of EOP loans		0.95%		0.71%		0.82%		0.75%		0.56%
Loans 30-89 days past due⁽⁵⁾	$	594	$	624	$	589	$	484	$	355	(27%)	(40%)
As a % of EOP loans		0.72%		0.77%		0.70%		0.62%		0.43%

Citi Retail Services Key Indicators (in millions of dollars, except as otherwise noted)⁽¹⁾
EOP open accounts		80.1		78.6		77.9		76.6		76.0	(1%)	(5%)
Purchase sales (in billions)	$	16.9	$	19.9	$	23.4	$	18.7	$	23.6	26%	40%
Average loans (in billions)⁽¹⁾		46.2		44.5		44.9		43.8		42.3	(3%)	(8%)
EOP loans (in billions)⁽¹⁾		45.4		44.4		46.4		42.5		42.7	-	(6%)
Average yield⁽²⁾		17.29%		16.86%		16.73%		16.61%		16.06%	(3%)	(7%)

Total net interest revenue⁽³⁾	$	1,887	$	1,788	$	1,861	$	1,744	$	1,650	(5%)	(13%)
As a % of average loans⁽³⁾		16.43%		15.98%		16.49%		16.15%		15.65%
Net credit losses on loans	$	635	$	504	$	339	$	373	$	326	(13%)	(49%)
As a % of average loans		5.53%		4.51%		3.00%		3.45%		3.09%
Net credit margin⁽⁴⁾	$	762	$	846	$	1,091	$	920	$	874	(5%)	15%
As a % of average loans⁽⁴⁾		6.63%		7.56%		9.67%		8.52%		8.29%
Loans 90+ days past due⁽⁵⁾	$	811	$	557	$	644	$	591	$	463	(22%)	(43%)
As a % of EOP loans		1.79%		1.25%		1.39%		1.39%		1.08%
Loans 30-89 days past due⁽⁵⁾	$	611	$	610	$	639	$	513	$	415	(19%)	(32%)
As a % of EOP loans		1.35%		1.37%		1.38%		1.21%		0.97%

(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⁾⁽²⁾

Page 1

(In millions of dollars, except as otherwise noted)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽³⁾		2020⁽³⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Net interest revenue	$	755	$	697	$	739	$	658	$	703	7%	(7%)	$	1,642	$	1,361	(17%)
Non-interest revenue		295		330		357		350		350	-	19%		607		700	15%
Total revenues, net of interest expense		1,050		1,027		1,096		1,008		1,053	4%	-		2,249		2,061	(8%)
Total operating expenses		619		667		776		702		725	3%	17%		1,334		1,427	7%
Net credit losses on loans		205		228		162		365		250	(32%)	22%		476		615	29%
Credit reserve build / (release) for loans		209		(66)		(83)		(163)		(423)	NM	NM		465		(586)	NM
Provision for credit losses on unfunded lending commitments		-		-		-		-		-	-	-		-		-	-
Provisions for benefits and claims, HTM debt securities and other assets		16		47		9		29		6	(79%)	(63%)		31		35	13%
Provisions for credit losses and for benefits and claims (PBC)		430		209		88		231		(167)	NM	NM		972		64	(93%)
Income (loss) from continuing operations before taxes		1		151		232		75		495	NM	NM		(57)		570	NM
Income taxes (benefits)		(1)		43		66		23		143	NM	NM		(24)		166	NM
Income (loss) from continuing operations		2		108		166		52		352	NM	NM		(33)		404	NM
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income (loss)	$	2	$	108	$	166	$	52	$	352	NM	NM	$	(33)	$	404	NM
Average assets (in billions)	$	30	$	31	$	33	$	34	$	34	-	13%	$	33	$	34	3%
Return on average assets		0.03%		1.39%		2.00%		0.62%		4.15%				(0.20)%		2.40%
Efficiency ratio		59%		65%		71%		70%		69%				59%		69%

Net credit losses on loans as a percentage of average loans		6.15%		6.67%		4.51%		10.65%		7.43%				6.34%		9.05%

Revenue by business
Retail banking	$	705	$	737	$	784	$	723	$	757	5%	7%	$	1,488	$	1,480	(1%)
Citi-branded cards		345		290		312		285		296	4%	(14%)		761		581	(24%)
Total	$	1,050	$	1,027	$	1,096	$	1,008	$	1,053	4%	-	$	2,249	$	2,061	(8%)

Net credit losses on loans by business
Retail banking	$	92	$	90	$	68	$	168	$	99	(41%)	8%	$	219	$	267	22%
Citi-branded cards		113		138		94		197		151	(23%)	34%		257		348	35%
Total	$	205	$	228	$	162	$	365	$	250	(32%)	22%	$	476	$	615	29%

Income from continuing operations by business
Retail banking	$	(14)	$	68	$	91	$	40	$	180	NM	NM	$	(39)	$	220	NM
Citi-branded cards		16		40		75		12		172	NM	NM		6		184	NM
Total	$	2	$	108	$	166	$	52	$	352	NM	NM	$	(33)	$	404	NM

FX translation impact
Total revenue - as reported	$	1,050	$	1,027	$	1,096	$	1,008	$	1,053	4%	-	$	2,249	$	2,061	(8%)
Impact of FX translation⁽⁴⁾		134		93		21		22		-				139		-
Total revenues - Ex-FX⁽⁴⁾	$	1,184	$	1,120	$	1,117	$	1,030	$	1,053	2%	(11%)	$	2,388	$	2,061	(14%)

Total operating expenses - as reported	$	619	$	667	$	776	$	702	$	725	3%	17%	$	1,334	$	1,427	7%
Impact of FX translation⁽⁴⁾		74		56		13		15		-				79		-
Total operating expenses - Ex-FX⁽⁴⁾	$	693	$	723	$	789	$	717	$	725	1%	5%	$	1,413	$	1,427	1%

Total provisions for credit losses and PBC - as reported	$	430	$	209	$	88	$	231	$	(167)	NM	NM	$	972	$	64	(93%)
Impact of FX translation⁽⁴⁾		65		16		1		6		-				71		-
Total provisions for credit losses and PBC - Ex-FX⁽⁴⁾	$	495	$	225	$	89	$	237	$	(167)	NM	NM	$	1,043	$	64	(94%)

Net income (loss) - as reported	$	2	$	108	$	166	$	52	$	352	NM	NM	$	(33)	$	404	NM
Impact of FX translation⁽⁴⁾		(5)		13		3		2		-				(9)		-
Total net income (loss) - Ex-FX⁽⁴⁾	$	(3)	$	121	$	169	$	54	$	352	NM	NM	$	(42)	$	404	NM

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

(2)	See footnote 2 on page 5.

(3)	See footnote 1 on page 1.

(4)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the second 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


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

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		1,406		1,401		1,392		1,331		1,327	-	(6%)
Accounts (in millions)		29.5		29.3		27.3		26.6		26.4	(1%)	(11%)
Average deposits	$	20.6	$	22.5	$	24.3	$	24.5	$	24.1	(2%)	17%
Investment sales		3.1		3.5		3.7		3.1		3.5	13%	13%
Investment AUMs:
AUMS		22.2		23.4		27.1		26.9		28.2	5%	27%
AUMs related to the retirement services business		33.0		35.9		40.8		39.2		41.0	5%	24%
Total AUMs		55.2		59.3		67.9		66.1		69.2	5%	25%
Average loans		9.1		9.3		9.6		9.4		9.2	(2%)	1%
EOP loans:
Mortgages		3.7		3.8		4.0		3.8		3.8	-	3%
Personal, small business and other		5.3		5.4		5.8		5.3		5.3	-	-
Total EOP loans	$	9.0	$	9.2	$	9.8	$	9.1	$	9.1	-	1%

Total net interest revenue (in millions)⁽¹⁾	$	473	$	480	$	503	$	447	$	491	10%	4%
As a % of average loans⁽¹⁾		20.91%		20.53%		20.84%		19.29%		21.41%
Net credit losses on loans (in millions)	$	92	$	90	$	68	$	168	$	99	(41%)	8%
As a % of average loans		4.07%		3.85%		2.82%		7.25%		4.32%
Loans 90+ days past due (in millions)	$	121	$	105	$	130	$	142	$	127	(11%)	5%
As a % of EOP loans		1.34%		1.14%		1.33%		1.56%		1.40%
Loans 30-89 days past due (in millions)	$	151	$	136	$	220	$	164	$	134	(18%)	(11%)
As a % of EOP loans		1.68%		1.48%		2.24%		1.80%		1.47%

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)
EOP open accounts (in millions)		5.0		4.9		4.7		4.5		4.5	-	(10%)
Purchase sales	$	2.6	$	3.3	$	4.4	$	3.7	$	4.2	14%	62%
Average loans⁽²⁾	$	4.3	$	4.3	$	4.7	$	4.5	$	4.3	(4%)	-
EOP loans⁽²⁾	$	4.2	$	4.3	$	4.8	$	4.3	$	4.4	2%	5%
Average yield⁽³⁾		25.50%		21.28%		21.01%		19.89%		20.10%	1%	(21%)

Total net interest revenue (in millions)⁽⁴⁾	$	282	$	217	$	236	$	211	$	212	-	(25%)
As a % of average loans⁽⁴⁾		26.38%		20.08%		19.98%		19.02%		19.78%
Net credit losses on loans (in millions)	$	113	$	138	$	94	$	197	$	151	(23%)	34%
As a % of average loans		10.57%		12.77%		7.96%		17.75%		14.09%
Net credit margin (in millions)⁽⁵⁾	$	235	$	160	$	229	$	102	$	158	55%	(33%)
As a % of average loans⁽⁵⁾		21.98%		14.80%		19.38%		9.19%		14.74%
Loans 90+ days past due (in millions)⁽⁶⁾	$	160	$	106	$	233	$	173	$	122	(29%)	(24%)
As a % of EOP loans		3.81%		2.47%		4.85%		4.02%		2.77%
Loans 30-89 days past due (in millions)⁽⁶⁾	$	111	$	89	$	170	$	115	$	82	(29%)	(26%)
As a % of EOP loans		2.64%		2.07%		3.54%		2.67%		1.86%

(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⁾⁽²⁾

PAGE 1

(In millions of dollars, except as otherwise noted)


											2Q21 Increase/			YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from			Year		Year		YTD 2020 Increase/
	2020⁽³⁾		2020⁽³⁾		2020		2021		2021		1Q21		2Q20	2020		2021		(Decrease)

Net interest revenue	$	1,072	$	1,054	$	1,045	$	988	$	1,001		1%	(7%)	$	2,221	$	1,989	(10%)
Non-interest revenue		475		565		509		613		565		(8%)	19%		1,077		1,178	9%
Total revenues, net of interest expense		1,547		1,619		1,554		1,601		1,566		(2%)	1%		3,298		3,167	(4%)
Total operating expenses		1,085		1,137		1,228		1,219		1,225		-	13%		2,240		2,444	9%
Net credit losses on loans		189		188		240		265		186		(30%)	(2%)		362		451	25%
Credit reserve build / (release) for loans		251		110		(25)		(226)		(60)		73%	NM		435		(286)	NM
Provision for credit losses on unfunded lending commitments		-		-		-		-		-		-	-		-		-	-
Provisions for benefits and claims, HTM debt securities and other assets		3		4		(6)		4		(3)		NM	NM		3		1	(67%)
Provisions for credit losses and for benefits and claims (PBC)		443		302		209		43		123		NM	(72%)		800		166	(79%)
Income from continuing operations before taxes		19		180		117		339		218		(36%)	NM		258		557	NM
Income taxes (benefits)		(8)		29		19		77		47		(39%)	NM		39		124	NM
Income from continuing operations		27		151		98		262		171		(35%)	NM		219		433	98%
Noncontrolling interests		(2)		-		(1)		(3)		(2)		33%	-		(3)		(5)	(67%)
Net income	$	29	$	151	$	99	$	265	$	173		(35%)	NM	$	222	$	438	97%
Average assets (in billions)	$	124	$	129	$	136	$	140	$	141		1%	14%	$	125	$	141	13%
Return on average assets		0.09%		0.47%		0.29%		0.77%		0.49%					0.36%		0.63%
Efficiency ratio		70%		70%		79%		76%		78%					68%		77%

Net credit losses on loans as a percentage of average loans		0.99%		0.94%		1.16%		1.29%		0.90%					0.93%		1.09%

Revenue by business
Retail banking	$	1,009	$	1,066	$	1,060	$	1,080	$	1,006		(7%)	-	$	2,142	$	2,086	(3%)
Citi-branded cards		538		553		494		521		560		7%	4%		1,156		1,081	(6%)
Total	$	1,547	$	1,619	$	1,554	$	1,601	$	1,566		(2%)	1%	$	3,298	$	3,167	(4%)

Net credit losses on loans by business
Retail banking	$	75	$	69	$	86	$	80	$	70		(13%)	(7%)	$	141	$	150	6%
Citi-branded cards		114		119		154		185		116		(37%)	2%		221		301	36%
Total	$	189	$	188	$	240	$	265	$	186		(30%)	(2%)	$	362	$	451	25%

Income from continuing operations by business
Retail banking	$	135	$	171	$	154	$	216	$	141		(35%)	4%	$	344	$	357	4%
Citi-branded cards		(108)		(20)		(56)		46		30		(35%)	NM		(125)		76	NM
Total	$	27	$	151	$	98	$	262	$	171		(35%)	NM	$	219	$	433	98%

FX translation impact
Total revenue - as reported	$	1,547	$	1,619	$	1,554	$	1,601	$	1,566		(2%)	1%	$	3,298	$	3,167	(4%)
Impact of FX translation⁽⁴⁾		66		35		7		(1)		-					132		-
Total revenues - Ex-FX⁽⁴⁾	$	1,613	$	1,654	$	1,561	$	1,600	$	1,566		(2%)	(3%)	$	3,430	$	3,167	(8%)

Total operating expenses - as reported	$	1,085	$	1,137	$	1,228	$	1,219	$	1,225		-	13%	$	2,240	$	2,444	9%
Impact of FX translation⁽⁴⁾		47		26		7		1		-					89		-
Total operating expenses - Ex-FX⁽⁴⁾	$	1,132	$	1,163	$	1,235	$	1,220	$	1,225		-	8%	$	2,329	$	2,444	5%

Total provisions for credit losses and PBC - as reported	$	443	$	302	$	209	$	43	$	123		NM	(72%)	$	800	$	166	(79%)
Impact of FX translation⁽⁴⁾		19		4		-		(1)		-					37		-
Total provisions for credit losses and PBC - Ex-FX⁽⁴⁾	$	462	$	306	$	209	$	42	$	123		NM	(73%)	$	837	$	166	(80%)

Net income - as reported	$	29	$	151	$	99	$	265	$	173		(35%)	NM	$	222	$	438	97%
Impact of FX translation⁽⁴⁾		(1)		3		(1)		(2)		-					3		-
Total net income - Ex-FX⁽⁴⁾	$	28	$	154	$	98	$	263	$	173		(34%)	NM	$	225	$	438	95%

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

(2)	See footnote 2 on page 5.

(3)	See footnote 1 on page 1.

(4)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the second 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


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

Retail Banking Key Indicators (in billions of dollars, except as otherwise noted)
Branches (actual)		234		233		224		223		223	-	(5%)
Accounts (in millions)		16.9		17.1		17.3		17.2		17.1	(1%)	1%
Average deposits	$	108.8	$	115.2	$	120.0	$	123.8	$	124.6	1%	15%
Investment sales		11.5		15.8		14.9		20.7		13.7	(34%)	19%
Investment AUMs		62.4		66.8		73.4		74.6		77.4	4%	24%
Average loans		60.5		62.9		65.2		66.1		66.6	1%	10%
EOP loans:
Mortgages		33.4		34.7		35.9		36.0		36.5	1%	9%
Personal, small business and other		28.1		28.8		30.6		29.8		30.0	1%	7%
Total EOP loans	$	61.5	$	63.5	$	66.5	$	65.8	$	66.5	1%	8%

Total net interest revenue (in millions)⁽²⁾	$	628	$	612	$	615	$	598	$	590	(1%)	(6%)
As a % of average loans⁽²⁾		4.17%		3.87%		3.75%		3.67%		3.55%
Net credit losses on loans (in millions)	$	75	$	69	$	86	$	80	$	70	(13%)	(7%)
As a % of average loans		0.50%		0.44%		0.52%		0.49%		0.42%
Loans 90+ days past due (in millions)	$	194	$	181	$	203	$	193	$	197	2%	2%
As a % of EOP Loans		0.32%		0.29%		0.31%		0.29%		0.30%
Loans 30-89 days past due (in millions)	$	327	$	272	$	312	$	278	$	285	3%	(13%)
As a % of EOP loans		0.53%		0.43%		0.47%		0.42%		0.43%

Citi-Branded Cards Key Indicators (in billions of dollars, except as otherwise noted)
EOP open accounts (in millions)		14.9		14.8		14.7		14.6		14.4	(1%)	(3%)
Purchase sales	$	15.0	$	18.4	$	20.9	$	20.1	$	19.8	(1%)	32%
Average loans⁽³⁾	$	16.6	$	16.8	$	17.2	$	17.3	$	16.6	(4%)	-
EOP loans⁽³⁾	$	16.8	$	16.8	$	17.9	$	16.8	$	16.4	(2%)	(2%)
Average yield⁽⁴⁾		12.78%		11.99%		11.47%		10.96%		10.87%	(1%)	(15%)

Total net interest revenue (in millions)⁽⁵⁾	$	444	$	442	$	430	$	390	$	411	5%	(7%)
As a % of average loans⁽⁶⁾		10.76%		10.47%		9.95%		9.14%		9.93%
Net credit losses on loans (in millions)	$	114	$	119	$	154	$	185	$	116	(37%)	2%
As a % of average loans		2.76%		2.82%		3.56%		4.34%		2.80%
Net credit margin (in millions)⁽⁶⁾	$	424	$	434	$	340	$	336	$	444	32%	5%
As a % of average loans⁽⁶⁾		10.27%		10.28%		7.86%		7.88%		10.73%
Loans 90+ days past due	$	214	$	242	$	312	$	223	$	188	(16%)	(12%)
As a % of EOP loans		1.27%		1.44%		1.74%		1.33%		1.15%
Loans 30-89 days past due	$	269	$	289	$	259	$	229	$	222	(3%)	(17%)
As a % of EOP loans		1.60%		1.72%		1.45%		1.36%		1.35%

(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⁽¹⁾

(In millions of dollars, except as otherwise noted)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020		2020		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Commissions and fees	$	1,027	$	1,099	$	1,064	$	1,252	$	1,186	(5%)	15%	$	2,249	$	2,438	8%
Administration and other fiduciary fees		684		747		755		814		865	6%	26%		1,375		1,679	22%
Investment banking		1,526		1,145		1,107		1,800		1,575	(13%)	3%		2,757		3,375	22%
Principal transactions		3,909		2,292		1,748		3,842		2,213	(42%)	(43%)		9,268		6,055	(35%)
Other		419		597		247		360		324	(10%)	(23%)		305		684	NM
Total non-interest revenue		7,565		5,880		4,921		8,068		6,163	(24%)	(19%)		15,954		14,231	(11%)
Net interest revenue (including dividends)		4,572		4,473		4,358		4,152		4,224	2%	(8%)		8,667		8,376	(3%)
Total revenues, net of interest expense		12,137		10,353		9,279		12,220		10,387	(15%)	(14%)		24,621		22,607	(8%)
Total operating expenses		6,006		5,858		6,041		6,308		6,264	(1%)	4%		11,883		12,572	6%
Net credit losses on loans		324		326		210		186		89	(52%)	(73%)		451		275	(39%)
Credit reserve build / (release) for loans		3,370		106		(1,620)		(1,312)		(949)	28%	NM		4,686		(2,261)	NM
Provision for credit losses on unfunded lending commitments		107		423		352		(621)		46	NM	(57%)		660		(575)	NM
Provisions for credit losses for HTM debt securities and other assets		53		(17)		(23)		(5)		4	NM	(92%)		61		(1)	NM
Provision for credit losses		3,854		838		(1,081)		(1,752)		(810)	54%	NM		5,858		(2,562)	NM
Income from continuing operations before taxes		2,277		3,657		4,319		7,664		4,933	(36%)	NM		6,880		12,597	83%
Income taxes		455		800		1,019		1,726		1,104	(36%)	NM		1,484		2,830	91%
Income from continuing operations		1,822		2,857		3,300		5,938		3,829	(36%)	NM		5,396		9,767	81%
Noncontrolling interests		5		24		22		37		12	(68%)	NM		4		49	NM
Net income	$	1,817	$	2,833	$	3,278	$	5,901	$	3,817	(35%)	NM	$	5,392	$	9,718	80%
EOP assets (in billions)	$	1,716	$	1,703	$	1,730	$	1,776	$	1,795	1%	5%
Average assets (in billions)		1,756		1,732		1,756		1,787		1,806	1%	3%	$	1,668	$	1,797	8%
Return on average assets (ROA)		0.42%		0.65%		0.74%		1.34%		0.85%				0.65%		1.09%
Efficiency ratio		49%		57%		65%		52%		60%				48%		56%

Revenue by region
North America	$	4,987	$	3,920	$	3,331	$	4,898	$	3,718	(24%)	(25%)	$	9,934	$	8,616	(13%)
EMEA		3,392		3,085		2,867		3,713		3,253	(12%)	(4%)		6,862		6,966	2%
Latin America		1,207		1,141		1,072		1,136		1,174	3%	(3%)		2,625		2,310	(12%)
Asia		2,551		2,207		2,009		2,473		2,242	(9%)	(12%)		5,200		4,715	(9%)
Total revenues, net of interest expense	$	12,137	$	10,353	$	9,279	$	12,220	$	10,387	(15%)	(14%)	$	24,621	$	22,607	(8%)

Income (loss) from continuing operations by region
North America	$	623	$	1,023	$	801	$	2,779	$	1,253	(55%)	NM	$	1,486	$	4,032	NM
EMEA		483		880		891		1,466		1,156	(21%)	NM		1,509		2,622	74%
Latin America		(198)		102		963		645		597	(7%)	NM		325		1,242	NM
Asia		914		852		645		1,048		823	(21%)	(10%)		2,076		1,871	(10%)
Income from continuing operations	$	1,822	$	2,857	$	3,300	$	5,938	$	3,829	(36%)	NM	$	5,396	$	9,767	81%

Average loans by region (in billions)
North America	$	215	$	198	$	193	$	195	$	201	3%	(7%)	$	205	$	198	(3%)
EMEA		91		88		86		89		90	1%	(1%)		90		90	-
Latin America		43		40		35		32		32	-	(26%)		41		32	(22%)
Asia		73		71		68		71		73	3%	-		73		72	(1%)
Total	$	422	$	397	$	382	$	387	$	396	2%	(6%)	$	409	$	392	(4%)

EOP deposits by region (in billions)
North America	$	471	$	476	$	472	$	470	$	471	-	-
EMEA		212		218		218		232		232	-	10%
Latin America		40		43		44		45		46	1%	15%
Asia		185		188		190		191		198	4%	7%
Total	$	908	$	925	$	924	$	938	$	947	1%	4%

EOP deposits by business (in billions)
Treasury and trade solutions	$	658	$	660	$	651	$	649	$	644	(1%)	(2%)
All other ICG businesses		250		265		273		289		303	5%	21%
Total	$	908	$	925	$	924	$	938	$	947	1%	4%

(1)	See footnote 2 on page 5.

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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020		2020		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Revenue Details
Investment banking
Advisory	$	229	$	163	$	232	$	281	$	405	44%	77%	$	615	$	686	12%
Equity underwriting		491		484		438		876		544	(38%)	11%		671		1,420	NM
Debt underwriting		1,039		740		617		816		823	1%	(21%)		1,827		1,639	(10%)
Total investment banking		1,759		1,387		1,287		1,973		1,772	(10%)	1%		3,113		3,745	20%
Treasury and trade solutions		2,307		2,394		2,400		2,165		2,290	6%	(1%)		4,730		4,455	(6%)
Corporate lending - excluding gain/(loss) on loan hedges⁽¹⁾		646		538		552		483		548	13%	(15%)		1,094		1,031	(6%)
Private bank - excluding gain/(loss) on loan hedges(1)		956		938		894		1,027		993	(3%)	4%		1,905		2,020	6%
Total banking revenues (ex-gain/(loss) on loan hedges)(1)	$	5,668	$	5,257	$	5,133	$	5,648	$	5,603	(1%)	(1%)	$	10,842	$	11,251	4%

Gain/(loss) on loan hedges⁽¹⁾		(431)		(124)		(312)		(81)		(37)	54%	91%		385		(118)	NM
Total banking revenues including g/(l) on loan hedges⁽¹⁾	$	5,237	$	5,133	$	4,821	$	5,567	$	5,566	-	6%	$	11,227	$	11,133	(1%)

Fixed income markets	$	5,595	$	3,788	$	3,087	$	4,550	$	3,211	(29%)	(43%)	$	10,381	$	7,761	(25%)
Equity markets		770		875		810		1,476		1,058	(28%)	37%		1,939		2,534	31%
Securities services		619		631		650		653		672	3%	9%		1,264		1,325	5%
Other		(84)		(74)		(89)		(26)		(120)	NM	(43%)		(190)		(146)	23%
Total markets and securities services	$	6,900	$	5,220	$	4,458	$	6,653	$	4,821	(28%)	(30%)	$	13,394	$	11,474	(14%)
Total revenues, net of interest expense	$	12,137	$	10,353	$	9,279	$	12,220	$	10,387	(15%)	(14%)	$	24,621	$	22,607	(8%)

Taxable-equivalent adjustments⁽²⁾	$	88	$	104	$	137	$	99	$	166	68%	89%	$	174	$	265	52%

Total ICG revenues
including taxable-equivalent adjustments⁽²⁾	$	12,225	$	10,457	$	9,416	$	12,319	$	10,553	(14%)	(14%)	$	24,795	$	22,872	(8%)

Commissions and fees	$	154	$	159	$	175	$	200	$	182	(9%)	18%	$	343	$	382	11%
Principal transactions⁽³⁾		4,009		2,178		1,782		2,930		1,922	(34%)	(52%)		7,558		4,852	(36%)
Other		234		301		107		356		156	(56%)	(33%)		171		512	NM
Total non-interest revenue	$	4,397	$	2,638	$	2,064	$	3,486	$	2,260	(35%)	(49%)	$	8,072	$	5,746	(29%)
Net interest revenue		1,198		1,150		1,023		1,064		951	(11%)	(21%)		2,309		2,015	(13%)
Total fixed income markets	$	5,595	$	3,788	$	3,087	$	4,550	$	3,211	(29%)	(43%)	$	10,381	$	7,761	(25%)

Rates and currencies	$	3,582	$	2,520	$	2,009	$	3,039	$	1,993	(34%)	(44%)	$	7,616	$	5,032	(34%)
Spread products / other fixed income		2,013		1,268		1,078		1,511		1,218	(19%)	(39%)		2,765		2,729	(1%)
Total fixed income markets	$	5,595	$	3,788	$	3,087	$	4,550	$	3,211	(29%)	(43%)	$	10,381	$	7,761	(25%)

Commissions and fees	$	305	$	279	$	299	$	392	$	298	(24%)	(2%)	$	667	$	690	3%
Principal transactions⁽³⁾		193		125		189		835		222	(73%)	15%		967		1,057	9%
Other		2		267		45		32		87	NM	NM		10		119	NM
Total non-interest revenue	$	500	$	671	$	533	$	1,259	$	607	(52%)	21%	$	1,644	$	1,866	14%
Net interest revenue		270		204		277		217		451	NM	67%		295		668	NM
Total equity markets	$	770	$	875	$	810	$	1,476	$	1,058	(28%)	37%	$	1,939	$	2,534	31%

(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⁾⁽²⁾

(In millions of dollars, except as otherwise noted)

											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020		2020		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Net interest revenue	$	(26)	$	(231)	$	(218)	$	61	$	128	NM	NM	$	299	$	189	(37%)
Non-interest revenue		316		7		133		9		139	NM	(56%)		64		148	NM
Total revenues, net of interest expense		290		(224)		(85)		70		267	NM	(8%)		363		337	(7%)
Total operating expenses		332		819		464		365		378	4%	14%		623		743	19%
Net credit losses		(5)		(5)		(10)		(18)		(22)	(22%)	NM		(7)		(40)	NM
Credit reserve build / (release)		160		(128)		(35)		(109)		(99)	9%	NM		351		(208)	NM
Provisions for benefits and claims, HTM debt securities and other assets		3		1		(1)		20		3	(85%)	-		1		23	NM
Provision for unfunded lending commitments		6		(4)		4		(5)		(3)	40%	NM		11		(8)	NM
Total provisions for credit losses and for benefits and claims		164		(136)		(42)		(112)		(121)	(8%)	NM		356		(233)	NM
Income from continuing operations before taxes		(206)		(907)		(507)		(183)		10	NM	NM		(616)		(173)	72%
Income taxes (benefits)⁽³⁾		(146)		(307)		(300)		(51)		(522)	NM	NM		(314)		(573)	(82%)
Income (loss) from continuing operations		(60)		(600)		(207)		(132)		532	NM	NM		(302)		400	NM
Income (loss) from discontinued operations, net of taxes		(1)		(7)		6		(2)		10	NM	NM		(19)		8	NM
Noncontrolling interests		(3)		—		1		(1)		—	100%	100%		(7)		(1)	86%
Net income (loss)	$	(58)	$	(607)	$	(202)	$	(133)	$	542	NM	NM	$	(314)	$	409	NM
EOP assets (in billions)	$	94	$	96	$	96	$	99	$	101	2%	7%
Average assets (in billions)		93		94		96		91		99	9%	6%	$	94	$	95	1%
Return on average assets		(0.25%)		(2.57%)		(0.84%)		(0.59%)		2.20%				(0.67%)		0.87%


Consumer - North America⁽⁴⁾ - Key Indicators

Average loans (in billions)	$	8.9	$	8.2	$	7.4	$	6.4	$	5.8	(9%)	(35%)
EOP loans (in billions)		8.6		7.7		6.6		6.1		5.0	(18%)	(42%)
Net interest revenue		86		54		42		34		29	(15%)	(66%)
As a % of average loans		3.89%		2.62%		2.26%		2.15%		2.01%
Net credit losses (recoveries)	$	(5)	$	(4)	$	(10)	$	(18)	$	(22)	(22%)	NM
As a % of average loans		(0.23%)		(0.19%)		(0.54%)		(1.14%)		(1.52%)
Loans 90+ days past due⁽⁵⁾	$	295	$	278	$	313	$	277	$	259	(6%)	(12%)
As a % of EOP loans		3.60%		3.86%		5.13%		4.86%		5.51%
Loans 30-89 days past due⁽⁵⁾	$	261	$	198	$	179	$	138	$	111	(20%)	(57%)
As a % of EOP loans		3.18%		2.75%		2.93%		2.42%		2.36%

(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)	See footnote 2 on page 5.

(3)	2Q21 includes an approximate $450 million benefit from a reduction in Citi’s valuation allowance related to its Deferred Tax Assets (DTAs).

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

(5)

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 $173 million and ($0.4 billion), and $172 million and ($0.5 billion), $183 million and ($0.5 billion), $169 million and ($0.4 billion), and $125 million and ($0.3 billion) as of June 30, 2020, September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 2021, respectively.

The amounts excluded for Loans 30-89 Days Past Due and (EOP Loans) for each period were, $57 million and ($0.4 billion), and $66 million and ($0.5 billion), $73 million and ($0.5 billion), $55 million and ($0.4 billion) , and $48 million and ($0.3 billion) as of June 30, 2020, September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 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⁾
	Second		First		Second		Second		First		Second		Second		First		Second
	Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
In millions of dollars, except as otherwise noted	2020		2021		2021⁽⁵⁾		2020		2021		2021⁽⁵⁾		2020		2021		2021⁽⁵⁾
Assets
Deposits with banks	$	305,485	$	307,340	$	296,445	$	159	$	145	$	126	0.21%		0.19%		0.17	%
Securities borrowed and purchased under resale agreements⁽⁶⁾		286,110		306,381		319,821		401		294		205	0.56%		0.39%		0.26	%
Trading account assets⁽⁷⁾		279,945		307,817		302,141		1,675		1,338		1,472	2.41%		1.76%		1.95	%
Investments		414,779		457,949		484,238		2,121		1,780		1,844	2.06%		1.58%		1.53	%
Total loans (net of unearned income)⁽⁸⁾		702,795		665,970		670,280		10,166		8,933		8,756	5.82%		5.44%		5.24	%
Other interest-earning assets		75,287		76,091		69,691		110		97		111	0.59%		0.52%		0.64	%
Total average interest-earning assets	$	2,064,401	$	2,121,548	$	2,142,616	$	14,632	$	12,587	$	12,514	2.85%		2.41%		2.34	%

Liabilities
Deposits (excluding deposit insurance and FDIC assessment)	$	1,033,745	$	1,073,827	$	1,075,130	$	1,199	$	712	$	676	0.47%		0.27%		0.25	%
Deposit insurance and FDIC assessment		—		—		—		270		340		279
Total deposits		1,033,745		1,073,827		1,075,130		1,469		1,052		955	0.57%		0.40%		0.36	%
Securities loaned and sold under repurchase agreements⁽⁶⁾		224,775		235,263		236,639		453		253		260	0.81%		0.44%		0.44	%
Trading account liabilities⁽⁷⁾		92,864		117,364		122,138		144		114		150	0.62%		0.39%		0.49	%
Short-term borrowings		119,078		93,344		93,682		140		31		31	0.47%		0.13%		0.13	%
Long-term debt⁽⁹⁾		221,524		206,264		195,364		1,303		918		868	2.37%		1.80%		1.78	%
Total average interest-bearing liabilities	$	1,691,986	$	1,726,062	$	1,722,953	$	3,509	$	2,368	$	2,264	0.83%		0.56%		0.53	%
Total average interest-bearing liabilities
(Excluding deposit insurance and FDIC assessment)	$	1,691,986	$	1,726,062	$	1,722,953	$	3,239	$	2,028	$	1,985	0.77%		0.48%		0.46	%


Net interest revenue as a % of average interest-earning assets (NIM)							$	11,123	$	10,219	$	10,250	2.17%		1.95%		1.92	%

NIR as a % of average interest-earning assets (NIM) (excluding deposit insurance and FDIC assessment)							$	11,393	$	10,559	$	10,529	2.22%		2.02%		1.97	%

2Q21 increase (decrease) from:													(25)	bps	(3)	bps


2Q21 increase (decrease) (excluding deposit insurance and FDIC assessment) from:													(25)	bps	(5)	bps

(1)	Interest revenue includes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $43 million for 2Q20, $53 million for 1Q21 and $51 million for 2Q21.

(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)	Second 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)


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

Global Consumer Banking
North America	$	180.5	$	186.0	$	194.8	$	204.0	$	205.5	1%	14%
Latin America		21.5		22.2		25.8		24.0		24.2	1%	13%
Asia⁽¹⁾		112.5		117.4		123.9		125.3		126.1	1%	12%
Total		314.5		325.6		344.5		353.3		355.8	1%	13%

ICG
North America		472.2		475.7		472.2		470.1		471.4	-	-
EMEA		211.6		218.3		217.9		232.1		231.9	-	10%
Latin America		39.7		43.3		44.2		45.2		45.5	1%	15%
Asia		184.9		187.5		190.0		190.9		197.8	4%	7%
Total		908.4		924.8		924.3		938.3		946.6	1%	4%

Corporate/Other		10.8		12.2		11.9		9.4		7.9	(16%)	(27%)

Total deposits - EOP	$	1,233.7	$	1,262.6	$	1,280.7	$	1,301.0	$	1,310.3	1%	6%

Total deposits - average	$	1,233.9	$	1,267.8	$	1,305.3	$	1,304.0	$	1,321.3	1%	7%

Foreign currency (FX) translation impact
Total EOP deposits - as reported	$	1,233.7	$	1,262.6	$	1,280.7	$	1,301.0	$	1,310.3	1%	6%
Impact of FX translation⁽²⁾		21.8		13.2		(5.6)		4.3		-
Total EOP deposits - Ex-FX⁽²⁾	$	1,255.5	$	1,275.8	$	1,275.1	$	1,305.3	$	1,310.3	-	4%

(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 second 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)


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

Global Consumer Banking

North America
Credit cards	$	128.0	$	125.5	$	130.4	$	121.0	$	124.8	3%	(3%)
Retail banking		53.1		53.1		52.7		50.9		49.7	(2%)	(6%)
Total		181.1	$	178.6	$	183.1		171.9		174.5	2%	(4%)

Latin America
Credit cards		4.2	$	4.3	$	4.8		4.3		4.4	2%	5%
Retail banking		9.0		9.2		9.8		9.1		9.1	-	1%
Total		13.2	$	13.5	$	14.6		13.4		13.5	1%	2%

Asia⁽¹⁾
Credit cards		16.8	$	16.8	$	17.9		16.8		16.4	(2)%	(2%)
Retail banking		61.5		63.5		66.5		65.8		66.5	1%	8%
Total		78.3	$	80.3	$	84.4		82.6		82.9	-	6%

Total GCB consumer loans
Credit cards		149.0	$	146.6	$	153.1		142.1		145.6	2%	(2%)
Retail banking		123.6		125.8		129.0		125.8		125.3	-	1%
Total GCB		272.6	$	272.4	$	282.1		267.9		270.9	1%	(1%)

Total Corporate/Other - consumer		8.5		7.6		6.7		6.1		5.0	(18%)	(41%)
Total consumer loans	$	281.1	$	280.0	$	288.8	$	274.0	$	275.9	1%	(2%)

Corporate loans - by region
North America	$	202.8	$	195.0	$	197.2	$	199.3	$	203.8	2%	-
EMEA		88.1		86.4		87.9		88.9		90.2	1%	2%
Latin America		42.1		36.6		33.4		31.7		32.7	3%	(22%)
Asia		71.2		68.9		68.5		72.1		74.2	3%	4%
Total corporate loans	$	404.2	$	386.9	$	387.0		392.0	$	400.9	2%	(1%)

Corporate loans - by product
Corporate lending		170.3	$	150.9	$	138.8		134.8		128.6	(5%)	(24%)
Private bank		108.3		111.5		117.5		121.3		126.7	4%	17%
Treasury and trade solutions		71.8		68.2		71.4		70.8		75.6	7%	5%
Markets and securities services		53.8		56.3		59.3		65.1		70.0	8%	30%
Total corporate loans		404.2	$	386.9	$	387.0		392.0		400.9	2%	(1%)

Total loans	$	685.3	$	666.9	$	675.9	$	666.0	$	676.8	2%	(1%)

Foreign currency (FX) translation impact
Total EOP loans - as reported	$	685.3	$	666.9	$	675.9	$	666.0	$	676.8	2%	(1%)
Impact of FX translation⁽²⁾		13.1		7.8		(2.7)		1.9		-
Total EOP loans - Ex-FX⁽²⁾	$	698.4	$	674.7	$	673.2	$	667.9	$	676.8	1%	(3%)

(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 second 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)


											EOP Loans
	2Q		3Q		4Q		1Q		2Q		2Q
	2020		2020		2020		2021		2021		2021

Global Consumer Banking⁽²⁾
Total	$	2,466	$	1,976	$	2,507	$	2,175	$	1,790	$	270.9
Ratio		0.91%		0.73%		0.89%		0.81%		0.66%

Retail banking⁽²⁾
Total	$	497	$	497	$	632	$	598	$	560	$	125.3
Ratio		0.40%		0.40%		0.49%		0.48%		0.45%
North America⁽²⁾	$	182	$	211	$	299	$	263	$	236	$	49.7
Ratio		0.35%		0.40%		0.58%		0.52%		0.48%
Latin America	$	121	$	105	$	130	$	142	$	127	$	9.1
Ratio		1.34%		1.14%		1.33%		1.56%		1.40%
Asia⁽³⁾	$	194	$	181	$	203	$	193	$	197	$	66.5
Ratio		0.32%		0.29%		0.31%		0.29%		0.30%

Cards
Total	$	1,969	$	1,479	$	1,875	$	1,577	$	1,230	$	145.6
Ratio		1.32%		1.01%		1.22%		1.11%		0.84%
North America - Citi-branded⁽³⁾	$	784	$	574	$	686	$	590	$	457	$	82.1
Ratio		0.95%		0.71%		0.82%		0.75%		0.56%
North America - retail services⁽³⁾	$	811	$	557	$	644	$	591	$	463	$	42.7
Ratio		1.79%		1.25%		1.39%		1.39%		1.08%
Latin America⁽³⁾	$	160	$	106	$	233	$	173	$	122	$	4.4
Ratio		3.81%		2.47%		4.85%		4.02%		2.77%
Asia⁽⁴⁾	$	214	$	242	$	312	$	223	$	188	$	16.4
Ratio		1.27%		1.44%		1.74%		1.33%		1.15%

Corporate/Other - consumer⁽²⁾	$	295	$	278	$	313	$	277	$	259	$	5.0
Ratio		3.60%		3.86%		5.13%		4.86%		5.51%

Total Citigroup⁽²⁾	$	2,761	$	2,254	$	2,820	$	2,452	$	2,049	$	275.9
Ratio		0.99%		0.81%		0.98%		0.90%		0.75%

(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)


											EOP Loans
	2Q		3Q		4Q		1Q		2Q		2Q
	2020		2020		2020		2021		2021		2021

Global Consumer Banking⁽²⁾
Total	$	2,503	$	2,398	$	2,517	$	2,003	$	1,761	$	270.9
Ratio		0.92%		0.88%		0.89%		0.75%		0.65%

Retail banking⁽²⁾
Total	$	918	$	786	$	860	$	662	$	687	$	125.3
Ratio		0.75%		0.63%		0.67%		0.53%		0.55%
North America⁽²⁾	$	440	$	378	$	328	$	220	$	268	$	49.7
Ratio		0.84%		0.72%		0.63%		0.44%		0.55%
Latin America	$	151	$	136	$	220	$	164	$	134	$	9.1
Ratio		1.68%		1.48%		2.24%		1.80%		1.47%
Asia⁽³⁾	$	327	$	272	$	312	$	278	$	285	$	66.5
Ratio		0.53%		0.43%		0.47%		0.42%		0.43%

Cards
Total⁽³⁾	$	1,585	$	1,612	$	1,657	$	1,341	$	1,074	$	145.6
Ratio		1.06%		1.10%		1.08%		0.94%		0.74%
North America - Citi-branded⁽³⁾	$	594	$	624	$	589	$	484	$	355	$	82.1
Ratio		0.72%		0.77%		0.70%		0.62%		0.43%
North America - retail services⁽³⁾	$	611	$	610	$	639	$	513	$	415	$	42.7
Ratio		1.35%		1.37%		1.38%		1.21%		0.97%
Latin America⁽³⁾	$	111	$	89	$	170	$	115	$	82	$	4.4
Ratio		2.64%		2.07%		3.54%		2.67%		1.86%
Asia⁽⁴⁾	$	269	$	289	$	259	$	229	$	222	$	16.4
Ratio		1.60%		1.72%		1.45%		1.36%		1.35%

Corporate/Other - consumer⁽²⁾	$	261	$	198	$	179	$	138	$	111	$	5.0
Ratio		3.18%		2.75%		2.93%		2.42%		2.36%

Total Citigroup⁽²⁾	$	2,764	$	2,596	$	2,696	$	2,141	$	1,872	$	275.9
Ratio		0.99%		0.93%		0.94%		0.78%		0.68%

(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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020 ⁽¹⁾		2020 ⁽¹⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)
Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	20,380	$	26,298	$	26,426	$	24,956	$	21,638			$	12,783	$	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		20,380		26,298		26,426		24,956		21,638	(13%)	6%		16,541		24,956	51%
Gross credit (losses) on loans		(2,528)		(2,367)		(1,889)		(2,208)		(1,844)	16%	27%		(5,007)		(4,052)	19%
Gross recoveries on loans		367		448		417		460		524	14%	43%		787		984	25%
Net credit (losses) / recoveries on loans (NCLs)		(2,161)		(1,919)		(1,472)		(1,748)		(1,320)	(24%)	(39%)		(4,220)		(3,068)	(27%)
Replenishment of NCLs		2,161		1,919		1,472		1,748		1,320	(24%)	(39%)		4,220		3,068	(27%)
Net reserve builds / (releases) for loans		5,195		164		(1,818)		(3,068)		(2,184)	29%	NM		9,289		(5,252)	NM
Net specific reserve builds / (releases) for loans		634		(152)		(30)		(159)		(262)	(65%)	NM		858		(421)	NM
Provision for credit losses on loans (PCLL)		7,990		1,931		(376)		(1,479)		(1,126)	24%	NM		14,367		(2,605)	NM
Other, net^{(3)(4)(5)(6)(7)(8)}		89		116		378		(91)		46	NM	(48%)		(390)		(45)
ACLL at end of period (a)	$	26,298	$	26,426	$	24,956	$	21,638	$	19,238			$	26,298	$	19,238

Allowance for credit losses on unfunded lending commitments (ACLUC)(9)(10) (a)	$	1,859	$	2,299	$	2,655	$	2,012	$	2,073			$	1,859	$	2,073

Provision (release) for credit losses on unfunded lending commitments	$	113	$	424	$	352	$	(626)	$	44			$	670	$	(582)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	28,157	$	28,725	$	27,611	$	23,650	$	21,311			$	28,157	$	21,311

Total ACLL as a percentage of total loans⁽¹¹⁾		3.87%		4.00%		3.73%		3.29%		2.88%

Consumer
ACLL at beginning of period	$	16,929	$	19,474	$	19,488	$	19,554	$	17,554			$	9,897	$	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		16,929		19,474		19,488		19,554		17,554	(10%)	4%		14,376		19,554	36%

NCLs		(1,837)		(1,594)		(1,262)		(1,562)		(1,231)	(21%)	(33%)		(3,769)		(2,793)	(26%)
Replenishment of NCLs		1,837		1,594		1,262		1,562		1,231	(21%)	(33%)		3,769		2,793	(26%)
Net reserve builds / (releases) for loans		2,312		(103)		(289)		(1,795)		(1,364)	24%	NM		5,138		(3,159)	NM
Net specific reserve builds / (releases) for loans		148		9		61		(121)		(132)	(9%)	NM		324		(253)	NM
Provision for credit losses on loans (PCLL)		4,297		1,500		1,034		(354)		(265)	25%	NM		9,231		(619)	NM
Other, net ^{(3)(4)(5)(6)(7)(8)}		85		108		294		(84)		53	NM	(38%)		(364)		(31)	91%
ACLL at end of period (b)	$	19,474	$	19,488	$	19,554	$	17,554	$	16,111			$	19,474	$	16,111

Consumer ACLUC⁽⁹⁾ (b)	$	-	$	-	$	1	$	1	$	2			$	-	$	2

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

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	19,474	$	19,488	$	19,555	$	17,555	$	16,113			$	19,474	$	16,113

Consumer ACLL as a percentage of total consumer loans		6.93%		6.96%		6.77%		6.41%		5.84%

Corporate
ACLL at beginning of period	$	3,451	$	6,824	$	6,938	$	5,402	$	4,084			$	2,886	$	5,402
Adjustment to opening balance for CECL adoption⁽¹⁾		-		-		-		-		-				(721)		-
Adjusted ACLL at beginning of period		3,451		6,824		6,938		5,402		4,084	(24%)	18%		2,165		5,402	NM

NCLs		(324)		(325)		(210)		(186)		(89)	(52%)	(73%)		(451)		(275)	(39%)
Replenishment of NCLs		324		325		210		186		89	(52%)	(73%)		451		275	(39%)
Net reserve builds / (releases) for loans		2,883		267		(1,529)		(1,273)		(820)	36%	NM		4,151		(2,093)	NM
Net specific reserve builds / (releases) for loans		486		(161)		(91)		(38)		(130)	NM	NM		534		(168)	NM
Provision for credit losses on loans (PCLL)		3,693		431		(1,410)		(1,125)		(861)	23%	NM		5,136		(1,986)	NM
Other, net⁽³⁾		4		8		84		(7)		(7)				(26)		(14)
ACLL at end of period (c)	$	6,824	$	6,938	$	5,402	$	4,084	$	3,127			$	6,824	$	3,127

Corporate ACLUC ^(9)(10) (c)	$	1,859	$	2,299	$	2,654	$	2,011	$	2,071			$	1,859	$	2,071

Provision (release) for credit losses on unfunded lending commitments	$	113	$	419	$	351	$	(626)	$	43			$	671	$	(583)

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	8,683	$	9,237	$	8,056	$	6,095	$	5,198			$	8,683	$	5,198

Corporate ACLL as a percentage of total corporate loans⁽¹¹⁾		1.71%		1.82%		1.42%		1.06%		0.80%

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 June 30, 2021.

(2)	See footnote 1 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)	2Q20 consumer includes an increase of approximately $86 million related to FX translation. The corporate allowance is predominantly sourced in U.S. dollars.

(5)	3Q20 consumer includes an increase of approximately $108 million related to FX translation. The corporate allowance is predominantly sourced in U.S. dollars.

(6)	4Q20 consumer includes an increase of approximately $292 million related to FX translation.

(7)	1Q21 consumer includes a decrease of approximately $84 million related to FX translation.

(8)	2Q21 consumer includes an increase of approximately $53 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)	June 30, 2020, September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 2021 exclude $5.8 billion, $5.5 billion, $7.1 billion,$7.5 billion and $7.7 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)


											2Q21 Increase/		YTD		YTD		YTD 2021 vs.
	2Q		3Q		4Q		1Q		2Q		(Decrease) from		Year		Year		YTD 2020 Increase/
	2020⁽¹⁾		2020⁽¹⁾		2020		2021		2021		1Q21	2Q20	2020		2021		(Decrease)

Global Consumer Banking
Net credit losses	$	1,842	$	1,598	$	1,272	$	1,580	$	1,253	(21%)	(32%)	$	3,776	$	2,833	(25%)
Credit reserve build / (release)		2,299		34		(193)		(1,806)		(1,398)	23%	NM		5,110		(3,204)	NM
North America
Net credit losses		1,448		1,182		870		950		817	(14%)	(44%)		2,938		1,767	(40%)
Credit reserve build / (release)		1,839		(10)		(85)		(1,417)		(915)	35%	NM		4,210		(2,332)	NM
Retail Banking
Net credit losses		33		31		31		26		24	(8%)	(27%)		70		50	(29%)
Credit reserve build / (release)		179		(17)		(38)		(117)		(75)	36%	NM		357		(192)	NM
Citi-Branded Cards
Net credit losses		780		647		500		551		467	(15%)	(40%)		1,561		1,018	(35%)
Credit reserve build / (release)		1,310		49		(39)		(699)		(564)	19%	NM		2,597		(1,263)	NM
Citi Retail Services
Net credit losses		635		504		339		373		326	(13%)	(49%)		1,307		699	(47%)
Credit reserve build / (release)		350		(42)		(8)		(601)		(276)	54%	NM		1,256		(877)	NM
Latin America
Net credit losses		205		228		162		365		250	(32%)	22%		476		615	29%
Credit reserve build / (release)		209		(66)		(83)		(163)		(423)	NM	NM		465		(586)	NM
Retail Banking
Net credit losses		92		90		68		168		99	(41%)	8%		219		267	22%
Credit reserve build / (release)		133		(41)		(73)		(106)		(198)	(87%)	NM		251		(304)	NM
Citi-Branded Cards
Net credit losses		113		138		94		197		151	(23%)	34%		257		348	35%
Credit reserve build / (release)		76		(25)		(10)		(57)		(225)	NM	NM		214		(282)	NM
Asia⁽²⁾
Net credit losses		189		188		240		265		186	(30%)	(2%)		362		451	25%
Credit reserve build / (release)		251		110		(25)		(226)		(60)	73%	NM		435		(286)	NM
Retail Banking
Net credit losses		75		69		86		80		70	(13%)	(7%)		141		150	6%
Credit reserve build / (release)		76		37		(4)		(60)		(20)	67%	NM		177		(80)	NM
Citi-Branded Cards
Net credit losses		114		119		154		185		116	(37%)	2%		221		301	36%
Credit reserve build / (release)		175		73		(21)		(166)		(40)	76%	NM		258		(206)	NM

Institutional Clients Group
Net credit losses		324		326		210		186		89	(52%)	(73%)		451		275	(39%)
Credit reserve build / (release)		3,370		106		(1,620)		(1,312)		(949)	28%	NM		4,686		(2,261)	NM

Corporate / Other
Net credit losses		(5)		(5)		(10)		(18)		(22)	(22%)	NM		(7)		(40)	NM
Credit reserve build / (release)		160		(128)		(35)		(109)		(99)	9%	NM		351		(208)	NM

Total provision for credit losses on loans	$	7,990	$	1,931	$	(376)	$	(1,479)	$	(1,126)	24%	NM	$	14,367	$	(2,605)	NM

(1)	See footnote 1 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)


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

Non-accrual loans⁽¹⁾
Corporate non-accrual loans by region
North America	$	2,466	$	2,018	$	1,928	$	1,566	$	1,154	(26%)	(53%)
EMEA		812		720		661		591		480	(19%)	(41%)
Latin America		585		609		719		739		767	4%	31%
Asia		153		237		219		210		175	(17%)	14%
Total	$	4,016	$	3,584	$	3,527	$	3,106	$	2,576	(17%)	(36%)

Consumer non-accrual loans by region⁽¹⁾
North America	$	928	$	934	$	1,059	$	961	$	879	(9%)	(5%)
Latin America		608		493		774		720		612	(15%)	1%
Asia⁽²⁾		293		263		308		303		315	4%	8%
Total	$	1,829	$	1,690	$	2,141	$	1,984	$	1,806	(9%)	(1%)

Other real estate owned (OREO)⁽³⁾
Institutional Clients Group	$	17	$	13	$	11	$	10	$	6	(40%)	(65%)
Global Consumer Banking		4		11		10		13		7	(46%)	75%
Corporate/Other		23		18		22		20		20	-	(13%)
Total	$	44	$	42	$	43	$	43	$	33	(23%)	(25%)

OREO by region
North America	$	32	$	22	$	19	$	14	$	12	(14%)	(63%)
EMEA		-		-		-		-		-	-	-
Latin America		6		8		7		10		11	10%	83%
Asia		6		12		17		19		10	(47%)	67%
Total	$	44	$	42	$	43	$	43	$	33	(23%)	(25%)

Non-accrual assets (NAA)⁽⁴⁾
Corporate non-accrual loans	$	4,016	$	3,584	$	3,527	$	3,106	$	2,576	(17%)	(36%)
Consumer non-accrual loans		1,829		1,690		2,141		1,984		1,806	(9%)	(1%)
Non-accrual loans (NAL)		5,845		5,274		5,668		5,090		4,382	(14%)	(25%)
OREO		44		42		43		43		33	(23%)	(25%)
Non-Accrual Assets (NAA)	$	5,889	$	5,316	$	5,711	$	5,133	$	4,415	(14%)	(25%)

NAL as a percentage of total loans		0.85%		0.79%		0.84%		0.76%		0.65%
NAA as a percentage of total assets		0.26%		0.24%		0.25%		0.22%		0.19%

Allowance for loan losses as a percentage of NAL		450%		501%		440%		425%		439%

(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)


	June 30,		September 30,		December 31,		March 31,		June 30,
Common Equity Tier 1 Capital Ratio and Components⁽¹⁾	2020⁽²⁾		2020⁽²⁾		2020		2021		2021⁽³⁾
Citigroup common stockholders' equity⁽⁴⁾	$	173,877	$	176,047	$	180,118	$	182,402	$	184,289
Add: qualifying noncontrolling interests		145		141		141		132		138
Regulatory capital adjustments and deductions:
Add:
CECL transition and 25% provision deferral⁽⁵⁾		5,503		5,638		5,348		4,359		3,774
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		2,094		1,859		1,593		1,037		864
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		393		29		(1,109)		(1,172)		(1,258)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁶⁾		20,275		20,522		21,124		20,854		20,999
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,866		4,248		4,166		4,054		3,986
Defined benefit pension plan net assets; other		960		949		921		1,485		1,816
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards		12,315		12,061		11,638		11,691		11,192
Common Equity Tier 1 Capital (CET1)	$	139,622	$	142,158	$	147,274	$	148,944	$	150,602
Risk-Weighted Assets (RWA)⁽⁵⁾	$	1,213,940	$	1,219,054	$	1,255,284	$	1,263,926	$	1,269,434
Common Equity Tier 1 Capital ratio (CET1/RWA)		11.50%		11.66%		11.73%		11.78%		11.9%

Supplementary Leverage Ratio and Components

Common Equity Tier 1 Capital (CET1)⁽⁵⁾	$	139,622	$	142,158	$	147,274	$	148,944	$	150,602
Additional Tier 1 Capital (AT1)⁽⁷⁾		17,988		18,153		19,779		21,540		19,259
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	157,610	$	160,311	$	167,053	$	170,484	$	169,861
Total Leverage Exposure (TLE)⁽⁵⁾⁽⁸⁾	$	2,374,170	$	2,349,620	$	2,386,881	$	2,450,412	$	2,902,562
Supplementary Leverage ratio (T1C/TLE)		6.64%		6.82%		7.00%		6.96%		5.9%


Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share
Common stockholders' equity	$	173,726	$	175,896	$	179,962	$	182,269	$	184,164
Less:
Goodwill		21,399		21,624		22,162		21,905		22,060
Intangible assets (other than MSRs)		4,106		4,470		4,411		4,308		4,268
Tangible common equity (TCE)	$	148,221	$	149,802	$	153,389	$	156,056	$	157,836
Common shares outstanding (CSO)		2,081.9		2,082.0		2,082.1		2,067.0		2,026.8
Book value per share (common equity/CSO)	$	83.45	$	84.48	$	86.43	$	88.18	$	90.86
Tangible book value per share (TCE/CSO)	$	71.20	$	71.95	$	73.67	$	75.50	$	77.87

(1)	See footnote 5 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 6 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, please refer to the "Capital Resources" section of Citigroup's 2020 Form 10-K.

Reclassified to conform to the current period's presentation.

Page 27