-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EaOpFIB+yRvnARb4zi/2jlAxgQaUrQRRpUMnkSKKUZ5y3J6oir7H7qZaScXqbcwM arIOlD5xWBqD/Ib7tP5hvA== 0000020405-99-000106.txt : 19990721 0000020405-99-000106.hdr.sgml : 19990721 ACCESSION NUMBER: 0000020405-99-000106 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990630 ITEM INFORMATION: FILED AS OF DATE: 19990720 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITICORP CENTRAL INDEX KEY: 0000020405 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 061515595 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05738 FILM NUMBER: 99667222 BUSINESS ADDRESS: STREET 1: 399 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 425 PARK AVE- 2ND F STREET 2: ATTN: LEGAL AFFAIRS OFFICE CITY: NEW YORK STATE: NY ZIP: 10043 FORMER COMPANY: FORMER CONFORMED NAME: FIRST NATIONAL CITY CORP DATE OF NAME CHANGE: 19740414 FORMER COMPANY: FORMER CONFORMED NAME: CITY BANK OF NEW YORK NATIONAL ASSOCIATI DATE OF NAME CHANGE: 19680903 8-K 1 INCOME STATEMENT 8-K 2Q99 CITICORP SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 19, 1999 CITICORP (Exact name of registrant as specified in charter) DELAWARE 1-5738 06-1515595 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification Number) 399 PARK AVENUE, NEW YORK, NEW YORK 10043 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 559-1000 NOT APPLICABLE (Former name or former address, if changed since last report) Item 5. Other Events Results of Operations (Preliminary and Unaudited) This report summarizes the results of operations of Citicorp and its subsidiaries for the three- and six-month periods ended June 30, 1999 and June 30, 1998. Citigroup Inc., the parent company of Citicorp, filed a Current Report on Form 8-K dated July 19, 1999. That report contains certain additional information about Citicorp's businesses. CONSOLIDATED STATEMENTS OF INCOME CITICORP AND SUBSIDIARIES (Preliminary and Unaudited) (In Millions of Three Months Six Months Dollars) Ended June 30, Ended June 30, --------------- ---------------- 1999 1998 1999 1998 --------------- ---------------- INTEREST REVENUE Loans, including Fees $5,070 $5,096 $10,451 $ 9,939 Deposits with Banks 262 267 494 549 Federal Funds Sold and Securities Purchased Under Resale Agreements 97 187 238 429 Securities, including Dividends 836 646 1,958 1,218 Trading Account Assets 212 325 374 580 Loans Held For Sale 147 137 286 246 -------------- ---------------- 6,624 6,658 13,801 12,961 -------------- ---------------- INTEREST EXPENSE Deposits 2,564 2,783 5,429 5,405 Trading Account Liabilities 19 85 38 177 Purchased Funds and Other Borrowings 424 474 1,072 903 Long-Term Debt 324 321 714 642 -------------- ---------------- 3,331 3,663 7,253 7,127 -------------- ---------------- NET INTEREST REVENUE 3,293 2,995 6,548 5,834 -------------- ---------------- PROVISION FOR CREDIT LOSSES 681 564 1,314 1,071 -------------- ---------------- NET INTEREST REVENUE AFTER PROVISION FOR CREDIT LOSSES 2,612 2,431 5,234 4,763 -------------- ---------------- FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 1,800 1,553 3,438 2,994 Foreign Exchange 368 465 856 814 Trading Account 138 98 442 334 Securities Transactions 151 300 174 541 Other Revenue 819 791 1,553 1,290 -------------- ---------------- 3,276 3,207 6,463 5,973 -------------- ---------------- OPERATING EXPENSE Salaries 1,496 1,471 3,016 2,826 Employee Benefits 309 349 614 703 -------------- ---------------- Total Employee Expense 1,805 1,820 3,630 3,529 Net Premises and Equipment Expense 619 528 1,214 1,027 Restructuring-Related Items 47 - 124 - Other Expense 1,545 1,530 3,054 2,711 -------------- ---------------- 4,016 3,878 8,022 7,267 -------------- ---------------- INCOME BEFORE TAXES 1,872 1,760 3,675 3,469 Income Taxes 705 660 1,383 1,301 -------------- ---------------- NET INCOME $1,167 $1,100 $ 2,292 $ 2,168 -------------- ---------------- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CITICORP (Registrant) By: /s/ Roger W. Trupin --------------------- Roger W. Trupin Vice President and Controller Dated: July 20, 1999 -----END PRIVACY-ENHANCED MESSAGE-----