8-K

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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): November 3, 2003

Citigroup Inc.
(Exact name of registrant as specified in its charter)

DELAWARE	1-9924	52-1568099
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

399 PARK AVENUE, NEW YORK, NEW YORK    10043
              (Address of principal executive offices)              (Zip Code)

(212) 559-1000
(Registrant's telephone number, including area code)

CITIGROUP INC.
Current Report on Form 8-K

Item 5.    OTHER EVENTS.

        Attached hereto as Exhibit 99.01 and incorporated by reference herein is the Historical Annual Supplement of Citigroup Inc. and subsidiaries.

Item 7.    FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(a)

Not applicable.



(b)

Not applicable.



(c)

Exhibits

Exhibit Number	Description of Exhibit
99.01	Historical Annual Supplement

1

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 hereunto duly authorized.

Dated: November 3, 2003	CITIGROUP INC.
	By:	/s/  WILLIAM P. HANNON William P. Hannon Controller and Chief Accounting Officer

2

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CITIGROUP INC. Current Report on Form 8-K

Item 5. OTHER EVENTS.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

SIGNATURE

EX-99.1

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Exhibit 99.1

CITIGROUP—Financial Highlights

		2002			2001			2000			1999			1998			1997
Income from Continuing Operations		$	13,448		$	13,229		$	12,231		$	10,193		$	5,846		$	6,648
	Discontinued Operations, after-tax(1)		1,875			1,055			1,288			1,177			1,104			1,034
	Cumulative Effect of Accounting Changes(2)		(47	)		(158	)		—			(127	)		—			—
Net Income		$	15,276		$	14,126		$	13,519		$	11,243		$	6,950		$	7,682
Basic Earnings per Share:
	Income from Continuing Operations	$	2.63		$	2.61		$	2.43		$	2.02		$	1.13		$	1.27
	Net Income	$	2.99		$	2.79		$	2.69		$	2.23		$	1.35		$	1.48
Diluted Earnings per Share:
	Income from Continuing Operations	$	2.59		$	2.55		$	2.37		$	1.96		$	1.10		$	1.23
	Net Income	$	2.94		$	2.72		$	2.62		$	2.17		$	1.31		$	1.42
Total Revenue, Net of Interest Expense		$	71,308		$	67,367		$	63,572		$	54,809		$	44,964		$	43,467
Total Assets		$	1,097,190		$	1,051,450		$	902,210		$	795,584		$	740,336		$	755,167
Common Stockholders' Equity		$	85,318		$	79,722		$	64,461		$	56,395		$	48,761		$	44,610
Total Stockholders' Equity		$	86,718		$	81,247		$	66,206		$	58,290		$	51,035		$	47,956
Return on Avg. Common Equity			18.6	%		19.7	%		22.4	%		21.5	%		14.4	%		17.5	%
Book Value per Share		$	16.60		$	15.48		$	12.84		$	11.23		$	9.66		$	8.80
Diluted Common Shares Outstanding (millions)			5,166			5,147			5,122			5,128			5,144			5,226
Market Capitalization (at year-end)		$	180,900		$	259,900		$	256,400		$	209,800		$	125,400		$	136,500
Employees (full number)(3)			250,000			268,000			233,000			212,500			202,400			184,300

(1)

On August 20, 2002, Citigroup completed the distribution to its stockholders of a majority portion of its remaining ownership interest in Travelers Property Casualty Corp. (TPC). As required by SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets", the results of TPC are reported in the Company's Statement of Income separately as discontinued operations for all periods presented. In accordance with SFAS No. 144, the Statement of Consolidated Financial Position has not been restated. TPC represented the primary vehicle by which Citigroup engaged in the property and casualty insurance business.

(2)

Accounting changes in 2002 of ($47) million include the adoption of the remaining provisions of SFAS 142. Accounting changes in 2001 include ($42) million and ($116) million relating to the adoption of SFAS 133 and EITF 99-20, respectively. Accounting changes in 1999 include the adoption of SOP 97-3 of ($135) million, SOP 98-7 of $23 million and SOP 98-5 of ($15) million.

(3)

Includes TPC employees prior to 2002.

CITIGROUP—Key Data
(In millions of dollars, except per share amounts)

			2002			2001			2000			1999			1998			1997
Capital Ratios:
	Tier 1 Capital Ratio			8.47	%		8.42	%		8.38	%		8.87	%		8.43	%		N/A
	Total Capital Ratio			11.25	%		10.92	%		11.23	%		11.32	%		10.97	%		N/A
	Leverage Ratio			5.67	%		5.64	%		5.97	%		6.61	%		6.19	%		N/A
Citigroup Tax Rate				34.1	%		35.1	%		36.4	%		37.1	%		36.9	%		N/A
Stock Price(1):
	High		$	48.69		$	53.51		$	55.14		$	40.75		$	34.28		$	26.76
	Low			22.83			32.19			32.96			22.85			13.29			13.60
	Close		$	35.19		$	47.08		$	47.62		$	38.95		$	23.17		$	25.12
Repurchases:
	Number of shares (in thousands)			151,102			64,184			87,149			116,697			126,742			153,680
	Cost		$	5,483		$	3,045		$	4,066		$	3,954		$	3,139		$	3,467
	Cumulative		$	31,662		$	26,179		$	23,134		$	19,068		$	15,114		$	11,975
Valuation at year-end(1):
	Price/earnings (Diluted—Income from Continuing Operations)			14	x		18	x		20	x		20	x		21	x		20	x
	Price/earnings (Diluted—Net Income)			12	x		17	x		18	x		18	x		18	x		18	x
Revenue / Expense Ratios:
	Global Consumer			2.26			2.07			1.89			1.89
	Global Corporate and Investment Bank			1.58			1.64			1.61			1.59
	Global Investment Management			2.83			2.89			2.72			2.85
		Total Citigroup		1.91			1.84			1.78			1.77

(1)

Adjusted for stock splits through 4/01. All periods adjusted to reflect the TPC distribution.

CITIGROUP
Segment Net Income
Product View
(In millions of dollars)

			2002			2001			2000			1999
Global Consumer:
	Cards		$	3,081		$	2,522		$	2,184		$	1,643
	Consumer Finance			2,199			1,905			1,393			1,193
	Retail Banking			3,031			2,443			1,640			1,838
	Other			(52	)		(55	)		(86	)		27
		Total Global Consumer		8,259			6,815			5,131			4,701
Global Corporate and Investment Bank:
	Capital Markets and Banking			3,995			3,918			3,802			3,119
	Transaction Services			558			440			469			184
	Other(1)			(1,394	)		36			(38	)		34
		Total Global Corporate and Investment Bank		3,159			4,394			4,233			3,337
Private Client Services				799			877			1,173			1,009
Global Investment Management:
	Life Insurance and Annuities			617			871			761			699
	Private Bank			463			370			319			271
	Asset Management			443			296			249			248
		Total Global Investment Management		1,523			1,537			1,329			1,218
Proprietary Investment Activities				(229	)		224			1,387			497
Corporate/Other				(63	)		(618	)		(1,022	)		(569	)
Income from Continuing Operations				13,448			13,229			12,231			10,193
Income from Discontinued Operations				1,875			1,055			1,288			1,177
Cumulative Effect of Accounting Changes				(47	)		(158	)		—			(127	)
Total Net Income			$	15,276		$	14,126		$	13,519		$	11,243

(1)

2002 includes a $1.3 billion after-tax reserve for settlement-in-principle and charge for regulatory and legal matters.

CITIGROUP
Segment Net Income
Regional View(1)
(In millions of dollars)

			2002			2001			2000			1999
North America (excluding Mexico)
	Consumer		$	5,507		$	4,693		$	3,296		$	3,416
	Corporate			974			1,949			1,632			1,573
	Private Client Services			799			877			1,173			1,009
	Investment Management			1,085			1,253			1,127			1,057
		Total North America		8,365			8,772			7,228			7,055
Mexico(2)
	Consumer			521			(14	)		(60	)		27
	Corporate			450			233			96			56
	Investment Management			235			73			27			13
		Total Mexico		1,206			292			63			96
Europe, Middle East and Africa (EMEA)
	Consumer			708			467			380			297
	Corporate			857			927			1,044			635
	Investment Management			22			36			8			26
		Total Europe, Middle East and Africa		1,587			1,430			1,432			958
Japan
	Consumer			950			966			746			493
	Corporate			96			96			349			127
	Investment Management			56			33			16			18
		Total Japan		1,102			1,095			1,111			638
Asia (excluding Japan)
	Consumer			718			641			560			342
	Corporate			722			662			584			460
	Investment Management			107			81			55			35
		Total Asia		1,547			1,384			1,199			837
Latin America
	Consumer			(145	)		62			209			126
	Corporate			60			527			528			486
	Investment Management			18			61			96			69
		Total Latin America		(67	)		650			833			681
Proprietary Investment Activities				(229	)		224			1,387			497
Corporate/Other				(63	)		(618	)		(1,022	)		(569	)
Income from Continuing Operations				13,448			13,229			12,231			10,193
Income from Discontinued Operations				1,875			1,055			1,288			1,177
Cumulative Effect of Accounting Changes				(47	)		(158	)		—			(127	)
Total Net Income			$	15,276		$	14,126		$	13,519		$	11,243

(1)

Proprietary Investment Activities and Corporate/Other are not allocated to the geographic regions.

(2)

Mexico's results include the operations of Banamex from August 2001 forward.

CITIGROUP
Segment Revenues, Net of Interest Expense
Product View
(In millions of dollars)

			2002			2001			2000			1999
Global Consumer:
	Cards		$	13,688		$	11,978		$	10,505		$	8,916
	Consumer Finance			9,807			9,003			7,910			6,827
	Retail Banking			14,181			12,450			10,619			10,063
	Other			444			281			284			611
		Total Global Consumer		38,120			33,712			29,318			26,417
Global Corporate and Investment Bank:
	Capital Markets and Banking			15,739			16,153			15,132			12,507
	Transaction Services			3,620			3,601			3,429			2,891
	Other			(216	)		(204	)		(276	)		(209	)
		Total Global Corporate and Investment Bank		19,143			19,550			18,285			15,189
Private Client Services				5,830			6,090			7,064			6,066
Global Investment Management:
	Life Insurance and Annuities			4,076			4,432			3,967			3,562
	Private Bank			1,704			1,546			1,420			1,214
	Asset Management			1,841			1,867			1,673			1,309
		Total Global Investment Management		7,621			7,845			7,060			6,085
Proprietary Investment Activities				(35	)		503			2,427			930
Corporate/Other				629			(333	)		(582	)		122
Total Revenue, Net of Interest Expense			$	71,308		$	67,367		$	63,572		$	54,809
Managed Basis Net Revenues(1)			$	75,431		$	70,935		$	65,982		$	57,516

(1)

Segment net revenues disclosed above are prepared on an owned basis in accordance with Generally Accepted Accounting Principles (GAAP). The managed basis disclosures treat the receivables as if they had not been securitized and are still on our balance sheet, reflecting the interest revenue and expense associated with the portfolio, as well as the credit costs incurred. Although a managed basis presentation is not in conformity with GAAP, the Company believes it provides a representation of performance and key indicators of the credit card business that is consistent with the way the business is managed. For a reconciliation of managed basis revenue to GAAP revenues, see the Cards business.

CITIGROUP
Segment Revenues, Net of Interest Expense
Regional View(1)
(In millions of dollars)

			2002			2001			2000			1999
North America (excluding Mexico)
	Consumer		$	25,047		$	22,686		$	20,006		$	18,250
	Corporate			8,809			8,908			8,010			6,973
	Private Client Services			5,830			6,090			7,064			6,066
	Investment Management			5,424			5,901			5,481			4,918
		Total North America		45,110			43,585			40,561			36,207
Mexico(2)
	Consumer			2,637			1,238			270			348
	Corporate			860			620			289			202
	Investment Management			727			410			148			60
		Total Mexico		4,224			2,268			707			610
Europe, Middle East and Africa (EMEA)
	Consumer			3,387			2,727			2,482			2,514
	Corporate			5,151			5,454			5,432			4,040
	Investment Management			435			415			436			381
		Total Europe, Middle East and Africa		8,973			8,596			8,350			6,935
Japan
	Consumer			3,723			3,442			2,795			1,930
	Corporate			290			324			675			383
	Investment Management			270			220			184			148
		Total Japan		4,283			3,986			3,654			2,461
Asia (excluding Japan)
	Consumer			2,645			2,432			2,288			1,938
	Corporate			2,403			2,394			2,197			2,015
	Investment Management			423			369			317			300
		Total Asia		5,471			5,195			4,802			4,253
Latin America
	Consumer			681			1,187			1,477			1,437
	Corporate			1,630			1,850			1,682			1,576
	Investment Management			342			530			494			278
		Total Latin America		2,653			3,567			3,653			3,291
Proprietary Investment Activities				(35	)		503			2,427			930
Corporate/Other				629			(333	)		(582	)		122
Total Revenue, Net of Interest Expense			$	71,308		$	67,367		$	63,572		$	54,809

(1)

Proprietary Investment Activities and Corporate/Other are not allocated to the geographic regions.

(2)

Includes the operations of Banamex from August 6, 2001 forward.

CITIGROUP
GLOBAL CONSUMER
Cards
(In millions of dollars)

		2002			2001			2000			1999
Revenues, net of interest expense		$	13,688		$	11,978		$	10,505		$	8,916
Effect of securitization activities			4,115			3,454			2,410			2,707
	Adjusted revenues, net of interest expense(1)		17,803			15,432			12,915			11,623
Operating expenses			5,535			5,421			5,237			4,607
Provision for credit losses			3,410			2,593			1,902			1,705
Effect of securitization activities			4,115			3,454			2,410			2,707
	Adjusted provision for credit losses(1)		7,525			6,047			4,312			4,412
Income before taxes			4,743			3,964			3,366			2,604
Income taxes			1,662			1,442			1,182			961
Income from continuing operations		$	3,081		$	2,522		$	2,184		$	1,643
Average assets (in billions of dollars)		$	63		$	60		$	56		$	43
Return on assets			4.89	%		4.20	%		3.90	%		3.82	%
Return on managed assets			2.43	%		2.10	%		2.00	%		1.83	%
KEY INDICATORS (On a Managed Basis)
Total EOP Open Accounts (in millions):
	North America		88.7			93.0			85.8			77.2
	International		13.5			12.5			11.3			9.4
	Total		102.2			105.5			97.1			86.6
Total Sales (in billions of dollars):
	North America	$	244.9		$	234.3		$	231.4		$	200.4
	International		33.4			31.5			34.2			33.4
	Total	$	278.3		$	265.8		$	265.6		$	233.8
Average Managed Loans (in billions of dollars):
	Securitized	$	65.2		$	61.1		$	53.2		$	50.7
	Held for Sale		6.5			7.3			5.3			3.0
	On Balance Sheet		49.2			46.2			44.5			36.0
	Total Managed	$	120.9		$	114.6		$	103.0		$	89.7
Managed Net Credit Losses (in millions of dollars):
	North America	$	6,669		$	5,655		$	4,017		$	3,979
	International		500			393			307			394
	Total Managed	$	7,169		$	6,048		$	4,324		$	4,373
End of Period Managed Receivables		$	131.8		$	122.7		$	114.0		$	95.7
(in billions of dollars)
Net Credit Loss Ratio			5.93	%		5.28	%		4.20	%		4.88	%
Loans 90+Days Past Due:
In millions of dollars		$	2,397		$	2,386		$	1,648		$	1,513
%			1.84	%		1.97	%		1.45	%		1.58	%

(1)

The abbreviated income statement presented above is prepared on a managed basis (a non-GAAP measure), and includes the effect of securitizations in Adjusted Revenues, Net of Interest Expense and Adjusted Provision for Credit Losses. This income statement reconciles to Income from Continuing Operations which is a GAAP measure. Securitization changes Citigroup's role from that of a lender to that of a loan servicer and removes the receivables from Citigroup's balance sheet. For securitized receivables, amounts that would otherwise be reported as net interest revenue, fee and commission revenue, and credit losses are instead components of the servicing fees earned. However, Citigroup's exposure to credit losses on the securitized receivables is contractually limited to the cash flows from the receivables. The managed basis disclosures treat the receivables as if they had not been securitized and are still on the Company's balance sheet, with related income statement amounts reported as net interest revenue, fee and commission revenue, and credit losses. Although a managed basis presentation is not in conformity with GAAP, the Company believes it provides a representation of performance and key indicators of the credit card business that is consistent with the way management reviews operating performance and allocates resources. Furthermore, investors utilize information about the credit quality of the entire managed portfolio as the results of both the held and securitized portfolios impact the overall performance of the cards business.

CITIGROUP
GLOBAL CONSUMER
Cards
Geographic Distribution
(In millions of dollars)

			2002			2001			2000			1999
GEOGRAPHIC DISTRIBUTION
North America:
Revenues, net of interest expense			$	11,402		$	9,867		$	8,439		$	7,204
Effect of securitization activities				4,115			3,454			2,410			2,707
		Adjusted revenues, net of interest expense(1)		15,517			13,321			10,849			9,911
Operating expenses				4,388			4,281			4,071			3,610
Provision for credit losses				2,843			2,192			1,593			1,300
Effect of securitization activities				4,115			3,454			2,410			2,707
	Adjusted provision for credit losses(1)			6,958			5,646			4,003			4,007
Income before taxes				4,171			3,394			2,775			2,294
Income taxes				1,468			1,227			1,012			847
Income from continuing operations			$	2,703		$	2,167		$	1,763		$	1,447
Average assets (in billions of dollars)			$	52		$	50		$	46		$	36
Return on assets				5.20	%		4.33	%		3.83	%		4.02	%
Return on managed assets				2.33	%		1.97	%		1.78	%		1.74	%
International:
Revenues, net of interest expense			$	2,286		$	2,111		$	2,066		$	1,712
Operating expenses				1,147			1,140			1,166			997
Provision for credit losses				567			401			309			405
Income before taxes				572			570			591			310
Income taxes				194			215			170			114
Income from continuing operations			$	378		$	355		$	421		$	196
Average assets (in billions of dollars)			$	11		$	10		$	10		$	7
Return on assets				3.44	%		3.55	%		4.21	%		2.80	%

(1)

The abbreviated income statement presented above is prepared on a managed basis (a non-GAAP measure), and includes the effect of securitizations in Adjusted Revenues, Net of Interest Expense and Adjusted Provision for Credit Losses. This income statement reconciles to Income from Continuing Operations which is a GAAP measure. For a discussion of managed basis reporting see the Cards business on the previous page.

CITIGROUP
GLOBAL CONSUMER
Consumer Finance
(In millions of dollars)

			2002			2001			2000			1999
Revenues, net of interest expense			$	9,807		$	9,003		$	7,910		$	6,827
Operating expenses				3,114			3,444			3,548			2,945
Provision for credit losses				3,294			2,564			2,208			1,957
Income before taxes				3,399			2,995			2,154			1,925
Income taxes				1,200			1,090			761			732
Income from continuing operations			$	2,199		$	1,905		$	1,393		$	1,193
Average assets (in billions of dollars)			$	96		$	89		$	78		$	65
Return on assets				2.29	%		2.14	%		1.79	%		1.84	%
KEY INDICATORS
Average Loans (in billions of dollars):
	Real estate secured loans		$	48.0		$	45.1		$	39.7		$	34.8
	Personal loans			21.6			19.9			17.3			15.1
	Auto			8.4			6.3			3.7			2.0
	Sales finance and other			4.0			3.7			3.5			3.7
		Total	$	82.0		$	75.0		$	64.2		$	55.6
Average Loans (in billions of dollars):
	North America		$	62.2		$	57.7		$	51.2		$	45.2
	International			19.8			17.3			13.0			10.4
		Total	$	82.0		$	75.0		$	64.2		$	55.6
Average Yield:
	North America			12.94	%		13.58	%		14.17	%		14.46	%
	International			19.70	%		21.41	%		23.69	%		22.89	%
		Total		14.57	%		15.37	%		15.89	%		15.80	%
Average Net Interest Margin:
	North America			8.43	%		8.11	%		8.01	%		8.45	%
	International			17.55	%		18.05	%		21.66	%		20.59	%
		Total		10.63	%		10.39	%		10.46	%		10.38	%
Net Credit Loss Ratio				3.69	%		2.99	%		2.98	%		3.00	%
Loans 90+ Days Past Due:
	In millions of dollars		$	2,197		$	2,269		$	1,477		$	1,175
	%			2.48	%		2.92	%		2.14	%		1.96	%
Number of Offices:
	North America			2,411			2,413			2,863			3,008
	International			1,137			1,149			1,170			915
		Total		3,548			3,562			4,033			3,923

CITIGROUP
GLOBAL CONSUMER
Consumer Finance
Geographic Distribution
(In millions of dollars)

	2002			2001			2000			1999
GEOGRAPHIC DISTRIBUTION
North America:
Revenues, net of interest expense	$	6,112		$	5,632		$	5,151		$	4,690
Operating expenses		1,893			2,146			2,433			2,045
Provision for credit losses		2,074			1,757			1,527			1,448
Income before taxes		2,145			1,729			1,191			1,197
Income taxes		778			640			433			443
Income from continuing operations	$	1,367		$	1,089		$	758		$	754
Average Assets (in billions of dollars)	$	72		$	67		$	61		$	52
Return on Assets		1.90	%		1.63	%		1.24	%		1.45	%
International:
Revenues, net of interest expense	$	3,695		$	3,371		$	2,759		$	2,137
Operating expenses		1,221			1,298			1,115			900
Provision for credit losses		1,220			807			681			509
Income before taxes		1,254			1,266			963			728
Income taxes		422			450			328			289
Income from continuing operations	$	832		$	816		$	635		$	439
Average assets (in billions of dollars)	$	24		$	22		$	19		$	13
Return on assets		3.47	%		3.71	%		3.34	%		3.38	%

CITIGROUP
GLOBAL CONSUMER
Retail Banking
(In millions of dollars)

			2002			2001			2000			1999
Revenues, net of interest expense			$	14,181		$	12,450		$	10,619		$	10,063
Operating expenses				7,702			6,946			6,273			5,753
Provision for credit losses				1,755			1,645			1,585			1,353
Income before taxes and minority interest				4,724			3,859			2,761			2,957
Income taxes				1,655			1,391			1,102			1,100
Minority interest, after-tax				38			25			19			19
Income from continuing operations			$	3,031		$	2,443		$	1,640		$	1,838
Average assets (in billions of dollars)			$	187		$	154		$	138		$	108
Return on assets				1.62	%		1.59	%		1.19	%		1.70	%
KEY INDICATORS:
Average Customer Deposits (in billions of dollars):
	North America		$	90.8		$	68.3		$	47.0		$	44.9
	International			75.8			78.0			9.5			71.6
		Total	$	169.6		$	133.4		$	56.5		$	54.3
Average Loans (in billions of dollars):
	North America		$	97.6		$	84.4		$	52.9		$	42.1
	International			34.3			34.2			35.3			35.8
		Total	$	122.8		$	118.7		$	88.2		$	116.5
Net Credit Loss Ratio—Excluding Commercial Markets				0.71	%		0.68	%
Net Credit Loss Ratio—Commercial Markets				1.76	%		2.14	%
Loans 90+Days Past Due—excl Commercial Markets (in millions of dollars)			$	3,647		$	2,755
	% of EOP Loans			3.18	%		3.31	%
Cash Basis Loans—Commercial Markets (in millions of dollars)			$	1,299		$	1,301
	% of EOP Loans			2.90	%		3.13	%
EOP Accounts (in millions):
	North America			29.7			26.0			14.4			12.6
	International			17.0			17.2			17.6			16.0
		Total		46.7			43.2			32.0			28.6
Citibanking North America and Consumer Assets:
	Mutual Fund/UIT Sales at NAV (in millions of dollars)		$	3,225		$	4,722		$	6,507		$	5,135
	Variable Annuity Net Written Premiums & Deposits (in millions of dollars)		$	329		$	372		$	381		$	233
	EOP Mortgage Servicing Portfolio (in billions of dollars)		$	162.9		$	75.5
	Mortgage Orginations		$	55.2		$	32.3		$	19.1		$	18.2
	Student Loan Originations		$	6.0		$	4.4		$	4.4		$	2.3
Primerica Financial Services:
	Agents Licensed for Life Insurance			107,378			95,679			86,900			79,809
	Life Insurance in Force (in billions of dollars)		$	466.8		$	434.8		$	412.7		$	394.9
	Loan Volumes (in millions of dollars)(1)		$	4,736.4		$	3,869.8		$	2,092.3		$	1,920.1
	Mutual Fund/UIT Sales at NAV (in millions of dollars)		$	3,306		$	3,409		$	4,220		$	3,124
	Variable Annuity Net Written Premiums & Deposits		$	156		$	217		$	288		$	241

(1)

Represents loan products marketed by PFS; the receivables are primarily reflected in the assets of Consumer Finance.

CITIGROUP
GLOBAL CONSUMER
Retail Banking
Geographic and Business Distribution
(In millions of dollars)

		2002		2001		2000		1999
North America:
Revenues, net of interest expense
Citibanking North America, Consumer Assets and CitiCapital		$	5,919	$	5,256	$	4,376	$	4,041
Primerica Financial Services			2,058		2,055		1,868		1,777
Mexico			1,848		833		158		275
	Total Revenues, Net of Interest Expense		9,825		8,144		6,402		6,093
Operating expenses			5,246		4,526		3,822		3,293
Provision for credit losses			1,326		1,241		1,183		815
Income before taxes			3,253		2,377		1,397		1,985
Income taxes			1,140		867		576		752
Minority interest, after-tax			38		25		19		19
Income from continuing operations		$	2,075	$	1,485	$	802	$	1,214
International:
Revenues, net of interest expense
EMEA		$	2,009	$	1,696	$	1,622	$	1,666
Japan			491		435		420		342
Asia (excluding Japan)			1,486		1,403		1,321		1,115
Latin America			370		772		854		847
	Total Revenues, Net of Interest Expense		4,356		4,306		4,217		3,970
Operating expenses			2,456		2,420		2,451		2,460
Provision for credit losses			429		404		402		538
Income before taxes			1,471		1,482		1,364		972
Income taxes			515		524		526		348
Income from continuing operations		$	956	$	958	$	838	$	624
BRANCHES:
North America:
	Citibanking North America		812		460		380		384
	Mexico		1,422		1,485		196		241
	Total North America Retail Banking		2,234		1,945		576		625
International:
	EMEA		606		602		436		434
	Japan		23		22		22		22
	Asia (excluding Japan)		98		93		77		72
	Latin America		164		196		210		206
	Total International Retail Banking		891		913		745		734
	Total Retail Banking		3,125		2,858		1,321		1,359

CITIGROUP
GLOBAL CONSUMER
Other Consumer
(In millions of dollars)

	2002			2001			2000			1999
Revenues, net of interest expense	$	444		$	281		$	284		$	611
Operating expenses		536			449			423			661
Provision for credit losses		—			(89	)		5			(103	)
Income before taxes		(92	)		(79	)		(144	)		53
Income taxes		(40	)		(24	)		(58	)		26
Minority interest, after-tax		—			—			—			—
Income (loss) from continuing operations	$	(52	)	$	(55	)	$	(86	)	$	27

CITIGROUP
GLOBAL CORPORATE AND INVESTMENT BANK
Income Statement
(In millions of dollars)

				2002			2001			2000			1999
Revenues, net of interest expense:
	Commissions and Fees			$	2,180		$	2,060		$	2,071		$	1,518
	Asset Management and Administration Fees				1,824			1,632			1,431			1,138
	Investment Banking				3,512			4,002			3,696			2,878
	Principal Transactions				3,729			4,260			4,613			3,928
	Other Revenue				214			535			1,019			410
		Total Non-Interest Revenues			11,459			12,489			12,830			9,872
		Net Interest and Dividends			7,684			7,061			5,455			5,317
			Total Revenues, Net of Interest Expense		19,143			19,550			18,285			15,189
Non-Interest Expenses:
	Compensation and Benefits				6,410			7,333			6,841			5,924
	Other Operating and Administrative Expenses				5,683			4,572			4,523			3,611
		Total Non-Interest Expenses			12,093			11,905			11,364			9,535
Provision for Credit Losses					2,255			844			310			349
Income Before Taxes and Minority Interest					4,795			6,801			6,611			5,305
Income Taxes					1,611			2,381			2,360			1,960
Minority Interest, after-tax					25			26			18			8
Income from continuing operations				$	3,159		$	4,394		$	4,233		$	3,337
Pre-tax Profit Margin					25.0	%		34.8	%		36.2	%		34.9	%
Non-Compensation Expenses as a Percent of Net Revenues					29.7	%		23.4	%		24.7	%		23.8	%
Compensation and Benefits Expenses as a Percent of Net Revenues					33.5	%		37.5	%		37.4	%		39.0	%
Compensation and Benefits Expenses as a Percent of Risk Adjusted Revenues(1)					38.0	%		39.2	%		38.1	%		39.9	%

(1)

Risk Adjusted Revenues represent Revenues net of Interest Expense less Provision for Credit Losses.

CITIGROUP
GLOBAL CORPORATE AND INVESTMENT BANK
Capital Markets and Banking
(In millions of dollars)

			2002			2001			2000		1999
Revenues, net of interest expense			$	15,739		$	16,153		$	15,132	$	12,507
Operating expenses				7,671			9,209			8,787		7,241
Provision for credit losses				2,046			823			283		275
Income before taxes and minority interest				6,022			6,121			6,062		4,991
Income taxes				2,003			2,183			2,235		1,864
Minority interest, after-tax				24			20			25		8
Income from continuing operations			$	3,995		$	3,918		$	3,802	$	3,119
Investment Banking
Underwriting (full credit to book manager):
	Debt and equity:
		Global Volume(1)	$	440,092		$	515,712
		Global Market Share		10.3	%		12.1	%
		Rank		1			1
		U.S. Volume(2)	$	340,304		$	404,427
		U.S. Market Share		11.8	%		13.9	%
		Rank		1			1

(1)

Includes non-convertible debt, Rule 144A non-convertible debt, Rule 144A non-convertible preferred, non-convertible preferred, preferred, taxable municipal debt, mortgage and asset backed debt, all common stock, convertible debt and convertible preferred. Excludes all closed end funds.

(2)

Includes all U.S. mortgage and asset backed debt, U.S. non-convertible debt, U.S. Rule 144A non-convertible and U.S. taxable municipal debt, all U.S. common stock, U.S. convertible debt and U.S. convertible preferred. Excludes all closed end funds, 144A common stock, 144A convertible stock, and 144A convertible preferred.

CITIGROUP
GLOBAL CORPORATE AND INVESTMENT BANK
Transaction Services
(In millions of dollars)

	2002		2001		2000		1999
Revenues, net of interest expense	$	3,620	$	3,601	$	3,429	$	2,891
Operating expenses		2,583		2,874		2,675		2,516
Provision for credit losses		209		21		27		74
Income before taxes and minority interest		828		706		727		301
Income taxes and minority interest, after-tax		270		266		258		117
Income from continuing operations	$	558	$	440	$	469	$	184
Liability Balances (Average in billions)	$	85	$	77	$	64	$	56
Assets Under Custody (EOP in trillions)	$	5.1	$	4.8	$	4.1	$	3.8

CITIGROUP
GLOBAL CORPORATE AND INVESTMENT BANK
Other Corporate
(In millions of dollars)

	2002			2001			2000			1999
Revenues, net of interest expense	$	(216	)	$	(204	)	$	(276	)	$	(209	)
Operating expenses(1)		1,839			(178	)		(98	)		(222	)
Loss before taxes		(2,055	)		(26	)		(178	)		13
Income tax benefits		(661	)		(62	)		(140	)		(21	)
Income (loss) from continuing operations	$	(1,394	)	$	36		$	(38	)	$	34

(1)

2002 includes a $1.3 billion after-tax reserve for settlement-in-principle and charge for regulatory and legal matters.

CITIGROUP
PRIVATE CLIENT SERVICES
(In millions of dollars)

			2002			2001			2000			1999
Revenues:
Fee-based and net interest revenue			$	2,955		$	3,081		$	3,420		$	2,445
Commissions and other transactional revenue				2,875			3,009			3,644			3,621
Total Revenues, net of interest expense				5,830			6,090			7,064			6,066
Operating expenses				4,555			4,710			5,192			4,456
Provision for credit losses				6			4			—			—
Income before taxes				1,269			1,376			1,872			1,610
Income taxes				470			499			699			601
Income from continuing operations			$	799		$	877		$	1,173		$	1,009
Pretax Profit Margin				22	%		23	%		27	%		27	%
Financial Consultants				12,690			12,927			12,353			11,463
Annualized Revenue per FC (in thousands of dollars)			$	418		$	451		$	635		$	513
Branch offices				536			536			522			485
Client Assets (in billions of dollars)
Assets Under Fee-Based Management:
	Consulting Group and Internally Managed Accounts		$	106		$	126
	Financial Consultant Managed Accounts			52			59
		Total Private Client(1)	$	158		$	185
Total Client Assets:
	Private Client		$	762		$	848
	Other Investor Assets within Citigroup Global Markets			129			119
		Total(1)	$	891		$	967
Net Client Asset Flows			$	3		$	13
Bank Deposit Program			$	41		$	35

(1)

Includes some assets jointly managed with Citigroup Asset Management.

CITIGROUP
GLOBAL INVESTMENT MANAGEMENT
Life Insurance and Annuities
(In millions of dollars)

			2002			2001			2000			1999
Revenues, net of interest expense			$	4,076		$	4,432		$	3,967		$	3,562
Operating expenses				501			394			447			468
Provision for credit losses				2,726			2,745			2,387			2,032
Income before taxes and minority interest				849			1,293			1,133			1,062
Income taxes and minority interest, net of tax				232			422			372			363
Minority interest, after-tax				—			—			—			—
Income from continuing operations			$	617		$	871		$	761		$	699
Income from continuing operations(1):
	Travelers Life & Annuity		$	562		$	854		$	744		$	688
	International Insurance Manufacturing		$	55		$	17		$	17		$	11
Income before tax (contribution by source):
	Individual annuities		$	418		$	433		$	466		$	373
	Group annuities			365			439			418			280
	Life and long-term care insurance			207			205			202			174
	Realized Insurance Investment Portfolio Gains / (Losses)			(329	)		52			(51	)		98
	Other			118			128			72			120
		Total Travelers Life & Annuity		779			1,257			1,107			1,045
	Total International Insurance Manufacturing			70			36			26			17
		Total Life Insurance and Annuities	$	849		$	1,293		$	1,133		$	1,062
Travelers Life and Annuity:
Individual annuities
Net written premiums and deposits
	Fixed		$	1,294		$	1,148		$	1,267		$	1,008
	Variable			4,081			4,972			5,025			4,265
	Individual Payout			58			59			80			78
		Total	$	5,433		$	6,179		$	6,372		$	5,351
Policyholder account balances & benefit reserves(2)
	Fixed		$	8,647		$	7,564		$	8,050		$	7,994
	Variable			19,152			21,837			20,704			19,311
	Individual Payout			649			648			630			617
		Total	$	28,448		$	30,049		$	29,384		$	27,922
Group annuities:
Net written premiums and deposits(3)			$	6,292		$	7,068		$	5,528		$	5,619
Policyholder account balances & benefit reserves:(2)
	GIC's and other investment contracts		$	16,099		$	15,345		$	12,599		$	10,754
	Payout Group annuities			6,202			5,630			4,861			4,363
		Total	$	22,301		$	20,975		$	17,460		$	15,117
Individual life insurance:
Net written premiums and deposits
	Direct periodic premiums and deposits		$	771		$	652		$	511		$	409
	Single premium deposits			285			208			98			84
	Reinsurance			(113	)		(96	)		(83	)		(71	)
		Total	$	943		$	764		$	526		$	422
Policyholder account balances & benefit reserves			$	3,852		$	3,401		$	2,983		$	2,682
Life insurance in force (in billions, face amt.)			$	82.0		$	75.0		$	66.9		$	60.6
Life insurance issued (in billions, face amt.)			$	15.0		$	13.8		$	11.7		$	10.7

(1)

Includes Realized Gain/(Losses) on Investments.

(2)

Includes general account, separate accounts and managed funds.

(3)

Excludes deposits of $250.0 million, $909.0 million, $320.0 million and $580.2 million in 2002, 2001, 2000 and 1999, respectively, related to Citigroup plans previously managed externally.

CITIGROUP
GLOBAL INVESTMENT MANAGEMENT
Private Bank
(In millions of dollars)

			2002			2001			2000			1999
Revenues, net of interest expense			$	1,704		$	1,546		$	1,420		$	1,214
Operating expenses				1,007			946			892			768
Provision for credit losses				18			23			23			12
Income before taxes				679			577			505			434
Income taxes				216			207			185			163
Minority interest, after-tax				—			—			—			—
Income from continuing operations			$	463		$	370		$	319		$	271
Average assets (in billions of dollars)			$	29		$	26		$	25		$	20
Return on average assets				1.60	%		1.42	%		1.28	%		1.36	%
Client Business Volumes (in billions of dollars)			$	170		$	159		$	153		$	140
Client Business Volumes (in billions of dollars):
	Proprietary managed assets		$	32		$	31		$	31		$	30
	Other assets under fee based management			8			8			5			3
	Banking and fiduciary deposits			38			34			31			27
	Loans			33			27			28			24
	Other, principally custody accounts			59			59			58			56
		Total	$	170		$	159		$	153		$	140
Revenues:
Customer Revenues
	Net Interest Spread and Recurring Fee-Based Revenues		$	1,095		$	1,010		$	973		$	827
	Transaction Revenues			351			336			297			227
		Total Customer Revenues		1,446			1,346			1,270			1,054
Other Revenues (Principally Allocated Equity     and Treasury Revenues)				258			200			150			160
		Total Revenues	$	1,704		$	1,546		$	1,420		$	1,214
	North America		$	755		$	624		$	557		$	487
	International			949			922			863			727
		Total Revenues	$	1,704		$	1,546		$	1,420		$	1,214
Net Credit Loss Ratio				0.05	%		0.06	%		0.09	%		0.10	%

CITIGROUP
GLOBAL INVESTMENT MANAGEMENT
Asset Management(1)
(In millions of dollars)

			2002			2001			2000			1999
Revenues, net of interest expense			$	1,841		$	1,867		$	1,673		$	1,309
Operating expenses				1,189			1,373			1,252			897
Income before taxes and minority interest				652			494			421			412
Income taxes and minority interest, after-tax				209			198			172			164
Income from continuing operations			$	443		$	296		$	249		$	248
Pre-tax Profit Margin				35.4	%		26.5	%		25.2	%		31.5	%
Asset Management (excl. Retirement Services):
Revenues, net of interest expense			$	1,500		$	1,489		$	1,428		$	1,292
Operating expenses				1,006			1,125			1,078			891
Income before taxes				494			364			350			401
Income taxes				187			144			140			160
	Income from continuing operations		$	307		$	220		$	210		$	241
Retirement Services:
Revenues, net of interest expense			$	341		$	378		$	245		$	17
Operating expenses				183			248			174			6
Income before taxes and minority interest				158			130			71			11
Income taxes and minority interest, after-tax				22			54			32			4
		Income from continuing operations	$	136		$	76		$	39		$	7
Net Flows by Business (in billions of dollars):
	Retail/Private Bank		$	10.7		$	30.8		$	15.0		$	8.5
	Institutional
		Long Term		10.7			8.8			(4.1	)		5.7
		Liquidity		13.5			25.8			1.9			1.8
	Total Institutional			24.2			34.6			(2.2	)		7.5
		Net Flows excluding US Retail Money Markets		34.9			65.4			12.8			16.0
	US Retail Money Markets		$	(12.6	)	$	(26.2	)	$	10.1		$	6.7
Assets Under Management by Business (in billions of dollars):
	Retail/ Private Bank(2)		$	205.1		$	237.1		$	244.1		$	225.1
	Institutional			163.9			142.5			115.3			119.3
	Retirement Services			11.1			12.1			6.0			0.3
	Other(3)			82.8			45.8			34.5			30.8
		Total Assets Under Management(2)	$	462.9		$	437.5		$	399.9		$	375.5
Assets Under Management by Product (in billions of dollars):
	Equity/Balanced		$	132.9		$	167.2		$	168.6		$	163.1
	Fixed Income			152.9			99.8			77.9			73.6
	Money Markets/Liquidity			132.3			132.2			127.5			107.6
	Alternative Investments			44.8			38.3			25.9			31.2
		Total Assets Under Management(2,3)	$	462.9		$	437.5		$	399.9		$	375.5
Number of Morningstar 4- and 5-star Mutual Fund share classes(4)
	Equity			14			10			11			9
	Fixed Income			12			7			11			11
CitiStreet Joint Venture—Asset Under Administration (in billions of dollars)			$	162.7		$	179.3		$	180.7			N/A

(1)

Includes Retirement Services Businesses.

(2)

Includes $31 billion, $29 billion, $30 billion, and $31 billion in 2002, 2001, 2000 and 1999, respectively, for Private Bank clients.

(3)

Includes $35 billion of Travelers Property Casualty Corp. assets in 2002 which Asset Management manages on a third-party basis following the spin-off.

(4)

Asset calculations are based on classes of such funds ranked by Morningstar. Number of funds reflects only one class per fund and are based on performance of non-money market retail funds.

CITIGROUP
PROPRIETARY INVESTMENT ACTIVITIES(1)
(In millions of dollars)

		2002			2001		2000		1999
Revenues, net of interest expense(2)		$	(35	)	$	503	$	2,427	$	930
Operating expenses		$	238		$	177	$	181	$	124
Income (loss) from continuing operations		$	(229	)	$	224	$	1,387	$	497
Total Revenue, Net of Interest Expense (by Type):
	Private Equity	$	(754	)	$	373
	Hedge Funds		71			10
	Refinancing Portfolio		14			59
	Other(2)		634			61		2,427		930
	Total	$	(35	)	$	503	$	2,427	$	930
Total End-of-Period Assets (in billions of dollars)		$	9.4		$	9.7	$	10.9	$	11.1

(1)

Includes Venture Capital Activities and certain other corporate investments.

(2)

2002 includes $527 million related to the gain on sale of 399 Park Avenue.

CITIGROUP
CORPORATE/OTHER
(In millions of dollars)

	2002			2001			2000			1999
Revenues, net of interest expense	$	629		$	(333	)	$	(582	)	$	122
Operating expenses		828			763			1,000			835
Provision for benefits, claims, and credit losses		(22	)		(9	)		39			208
Loss from continuing operations before taxes, minority interest, and cumulative effect of accounting changes		(177	)		(1,087	)		(1,621	)		(921	)
Income tax benefits		(116	)		(480	)		(599	)		(352	)
Minority interest, after-tax		2			11			—			—
Loss from continuing operations		(63	)		(618	)		(1,022	)		(569	)
Income from discontinued operations		1,875			1,055			1,288			1,177
Cumulative effect of accounting changes		(47	)		(158	)		—			(127	)
Net income	$	1,765		$	279		$	266		$	481

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Exhibit 99.1