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Exhibit 99.2

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT

				Page Number
Citigroup Consolidated
	Financial Summary			1
	Segment Income:
		Product View		2
		Regional View		3
	Segment Net Revenues:
		Product View		4
		Regional View		5
Segment Detail
	Global Consumer:
		Cards
			Global Cards	6
			North America Cards	7—8
			International Cards	9
		Consumer Finance
			Global Consumer Finance	10
			North America Consumer Finance	11
			International Consumer Finance	12
		Retail Banking
			Global Retail Banking	13
			North America Retail Banking	14—15
			International Retail Banking	16—17
	Corporate and Investment Banking:
		Income Statement		18
		Revenue Details		19
		Capital Markets and Banking		20
		Transaction Services		21
	Global Wealth Management:
		Smith Barney		22
		Private Bank		23
	Asset Management			24—25
	Alternative Investments			26
Citigroup Supplemental Detail
	Discontinued Operations			27
	Consolidated Statement of Income			28
	Consolidated Balance Sheet			29
	Segment Balance Sheet			30
	Return on Capital			31
	Consumer Loan Delinquency Amounts, Net Credit Losses and Ratios			32
	Allowance for Credit Losses:
		Total Citigroup		33
		Consumer Loans		34
		Corporate Loans		35
	Non-Performing Assets			36

CITIGROUP—FINANCIAL SUMMARY
(In millions of dollars, except per share amounts)

Citigroup, the leading global financial services company which has more than 200 million customer accounts and does business in more than 100 countries, provides consumers, corporations, governments and institutions a complete range of financial products and services.

	1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Income from Continuing Operations	$	5,024		$	980		$	5,063		$	5,078		$	5,168		3%
Discontinued Operations, After-tax		249			164			245			243			273
Net Income	$	5,273		$	1,144		$	5,308		$	5,321		$	5,441		3%
Basic Earnings Per Share:
Income from Continuing Operations	$	0.98		$	0.19		$	0.99		$	0.99		$	1.00		2%
Net Income	$	1.03		$	0.22		$	1.03		$	1.04		$	1.06		3%
Weighted average common shares applicable to Basic EPS		5,095.6			5,100.5			5,112.3			5,120.3			5,133.3
Preferred Dividends—Basic	$	17		$	17		$	17		$	17		$	17
Diluted Earnings Per Share:
Income from Continuing Operations	$	0.96		$	0.19		$	0.97		$	0.97		$	0.99		3%
Net Income	$	1.01		$	0.22		$	1.02		$	1.02		$	1.04		3%
Adjusted weighted average common shares applicable to Diluted EPS		5,203.1			5,201.3			5,205.6			5,219.5			5,226.0
Preferred Dividends—Diluted	$	17		$	17		$	17		$	17		$	17
Common Shares Outstanding, at period end		5,171.5			5,180.3			5,189.8			5,194.6			5,202.2
Tier 1 Capital Ratio		8.96	%		8.16	%		8.37	%		8.74	%		8.7	%*
Total Capital Ratio		12.25	%		11.31	%		11.49	%		11.85	%		12.0	%*
Leverage Ratio		5.40	%		4.88	%		5.01	%		5.20	%		5.1	%*
Total Assets, at period end (in billions)	$	1,317.6		$	1,396.6		$	1,436.6		$	1,484.1		$	1,490.1	*
Stockholders' Equity, at period end (in billions)	$	101.9		$	98.3		$	103.4		$	109.3		$	110.5	*
Equity and Trust Securities, at period end (in billions)	$	108.2		$	104.5		$	110.2		$	115.5		$	116.9	*
Book Value Per Share, at period end	$	19.48		$	18.76		$	19.70		$	20.82		$	21.03	*
Return on Common Equity (Net Income)		21.3	%		4.6	%		21.3	%		20.1	%		20.3	%
Return on Risk Capital (Net Income)		45	%		9	%		42	%		41	%		40	%

*

Preliminary

1

CITIGROUP—NET INCOME
PRODUCT VIEW
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Global Consumer:
	Cards		$	980		$	1,012		$	1,267		$	1,441		$	1,086		11%
	Consumer Finance			567			594			643			584			629		11%
	Retail Banking			1,135			1,167			1,240			1,142			1,285		13%
	Other(1)			(94	)		304			(62	)		(53	)		(181	)	(93)%
		Total Global Consumer		2,588			3,077			3,088			3,114			2,819		9%
Corporate and Investment Banking:
	Capital Markets and Banking			1,477			1,502			1,159			1,257			1,439		(3)%
	Transaction Services			234			261			285			261			245		5%
	Other(1)(2)			(4	)		(4,569	)		7			168			(5	)	(25)%
		Total Corporate and Investment Banking		1,707			(2,806	)		1,451			1,686			1,679		(2)%
Global Wealth Management:
	Smith Barney			251			209			195			226			195		(22)%
	Private Bank(3)			159			152			136			(129	)		122		(23)%
		Total Global Wealth Management		410			361			331			97			317		(23)%
Asset Management				105			99			79			(25	)		79		(25)%
Alternative Investments				26			273			111			333			362		NM
Corporate / Other				188			(24	)		3			(127	)		(88	)	NM
Income From Continuing Operations				5,024			980			5,063			5,078			5,168		3%
Discontinued Operations (4)				249			164			245			243			273
Net Income			$	5,273		$	1,144		$	5,308		$	5,321		$	5,441		3%

(1)

The 2004 second quarter includes a $756 million after-tax gain ($378 million in Consumer Other and $378 million in CIB Other) related to the sale of The Samba Financial Group (Samba).

(2)

The 2004 second quarter includes a $4.95 billion after-tax charge related to the WorldCom Settlement and increase in Litigation Reserves.

(3)

The 2004 fourth quarter includes a $244 million after-tax charge related to the exit plan implementation for the Company's Private Bank operations in Japan.

(4)

Discontinued Operations represents the operations from the Company's January 31, 2005 announced agreement for the sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance business, to MetLife, Inc. The transaction is subject to certain domestic and international regulatory approvals, as well as other customary conditions to closing and is expected to close during the 2005 second or third quarter.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

2

CITIGROUP—NET INCOME
REGIONAL VIEW
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004		4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
North America (excluding Mexico)(1)
	Consumer		$	1,748		$	1,785		$	2,123	$	2,071		$	1,905		9%
	Corporate			746			(4,244	)		501		807			893		20%
	Wealth Management			314			280			269		306			271		(14)%
	Asset Management			65			64			39		(64	)		50		(23)%
		Total North America (excluding Mexico)		2,873			(2,115	)		2,932		3,120			3,119		9%
Mexico
	Consumer			203			214			223		242			260		28%
	Corporate			94			184			198		183			83		(12)%
	Wealth Management			16			12			13		11			13		(19)%
	Asset Management			26			21			26		26			17		(35)%
		Total Mexico		339			431			460		462			373		10%
Europe, Middle East and Africa (EMEA)
	Consumer			204			601			154		224			120		(41)%
	Corporate			264			661			123		84			188		(29)%
	Wealth Management			9			4			4		(2	)		(1	)	NM
	Asset Management			(1	)		1			—		(2	)		(2	)	(100)%
		Total EMEA		476			1,267			281		304			305		(36)%
Japan
	Consumer			142			147			164		163			175		23%
	Corporate			93			87			91		63			48		(48)%
	Wealth Management			26			19			3		(253	)		(8	)	NM
	Asset Management			2			3			3		1			(1	)	NM
		Total Japan		263			256			261		(26	)		214		(19)%
Asia (excluding Japan)
	Consumer			247			280			332		328			311		26%
	Corporate			308			321			309		352			322		5%
	Wealth Management			35			34			33		23			35		—
	Asset Management			2			1			2		3			4		100%
		Total Asia		592			636			676		706			672		14%
Latin America
	Consumer			44			50			92		86			48		9%
	Corporate			202			185			229		197			145		(28)%
	Wealth Management			10			12			9		12			7		(30)%
	Asset Management			11			9			9		11			11		—
		Total Latin America		267			256			339		306			211		(21)%
Alternative Investments				26			273			111		333			362		NM
Corporate / Other				188			(24	)		3		(127	)		(88	)	NM
Income From Continuing Operations				5,024			980			5,063		5,078			5,168		3%
	Discontinued Operations			249			164			245		243			273
Net Income			$	5,273		$	1,144		$	5,308	$	5,321		$	5,441		3%

(1)

Excludes Alternative Investments and Corporate / Other which are predominantly related to North America.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

3

CITIGROUP—NET REVENUES
PRODUCT VIEW
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Global Consumer:
	Cards		$	4,598		$	4,467		$	4,602		$	4,654		$	4,576		—
	Consumer Finance			2,688			2,677			2,631			2,765			2,750		2%
	Retail Banking			4,303			4,452			4,587			4,654			4,947		15%
	Other			(16	)		557			(24	)		(1	)		(219	)	NM
		Total Global Consumer		11,573			12,153			11,796			12,072			12,054		4%
Corporate and Investment Banking:
	Capital Markets and Banking			4,531			4,495			3,733			4,347			4,899		8%
	Transaction Services			939			984			1,042			1,101			1,134		21%
	Other			1			585			2			14			1		—
		Total Corporate and Investment Banking		5,471			6,064			4,777			5,462			6,034		10%
Global Wealth Management:
	Smith Barney			1,729			1,578			1,523			1,637			1,666		(4)%
	Private Bank			573			505			482			484			504		(12)%
		Total Global Wealth Management		2,302			2,083			2,005			2,121			2,170		(6)%
Asset Management				461			427			442			460			413		(10)%
Alternative Investments				180			537			287			659			866		NM
Corporate / Other				295			(69	)		(227	)		(313	)		(4	)	NM
Total Net Revenues			$	20,282		$	21,195		$	19,080		$	20,461		$	21,533		6%
Managed Basis Net Revenues(1)			$	21,607		$	22,485		$	20,330		$	21,675		$	22,699		5%

(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 on page 6.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

4

CITIGROUP—NET REVENUES
REGIONAL VIEW
(In millions of dollars)

			1Q 2004		2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
North America (excluding Mexico)(1)
	Consumer		$	7,778	$	7,618		$	7,776		$	7,704		$	7,759		—
	Corporate			2,302		2,560			1,848			2,251			2,779		21%
	Wealth Management			1,912		1,761			1,713			1,837			1,869		(2)%
	Asset Management			297		291			292			293			271		(9)%
		Total North America (excluding Mexico)		12,289		12,230			11,629			12,085			12,678		3%
Mexico
	Consumer			798		794			849			948			914		15%
	Corporate			204		137			199			230			159		(22)%
	Wealth Management			38		34			35			31			31		(18)%
	Asset Management			56		48			57			59			45		(20)%
		Total Mexico		1,096		1,013			1,140			1,268			1,149		5%
Europe, Middle East and Africa (EMEA)
	Consumer			1,151		1,776			1,142			1,251			1,249		9%
	Corporate			1,559		2,064			1,349			1,528			1,691		8%
	Wealth Management			80		72			68			71			71		(11)%
	Asset Management			36		23			25			34			28		(22)%
		Total EMEA		2,826		3,935			2,584			2,884			3,039		8%
Japan
	Consumer			815		812			822			841			821		1%
	Corporate			227		204			226			160			180		(21)%
	Wealth Management			83		58			33			26			22		(73)%
	Asset Management			19		19			20			19			16		(16)%
		Total Japan		1,144		1,093			1,101			1,046			1,039		(9)%
Asia (excluding Japan)
	Consumer			824		944			998			1,046			1,072		30%
	Corporate			857		770			823			958			915		7%
	Wealth Management			131		102			102			97			119		(9)%
	Asset Management			15		15			16			18			18		20%
		Total Asia		1,827		1,831			1,939			2,119			2,124		16%
Latin America
	Consumer			207		209			209			282			239		15%
	Corporate			322		329			332			335			310		(4)%
	Wealth Management			58		56			54			59			58		—
	Asset Management			38		31			32			37			35		(8)%
		Total Latin America		625		625			627			713			642		3%
Alternative Investments				180		537			287			659			866		NM
Corporate/Other				295		(69	)		(227	)		(313	)		(4	)	NM
Total Net Revenues			$	20,282	$	21,195		$	19,080		$	20,461		$	21,533		6%

(1)

Excludes Alternative Investments and Corporate/Other which are predominantly related to North America.

NM Not meaningful

Reclassified to conform to the current period's presentation.

5

GLOBAL CONSUMER
CARDS
(In millions of dollars)

				1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense				$	4,598		$	4,467		$	4,602		$	4,654		$	4,576		—
Effect of Securitization Activities					1,325			1,290			1,250			1,214			1,166		(12)%
		Adjusted Revenues, Net of Interest Expense(1)			5,923			5,757			5,852			5,868			5,742		(3)%
Total Operating Expenses					1,938			1,964			2,053			2,134			2,077		7%
	Net Credit Losses {a}				1,229			1,083			892			936			915		(26)%
	Effect of Securitization Activities				1,325			1,290			1,250			1,214			1,166		(12)%
			Adjusted Net Credit Losses(1)		2,554			2,373			2,142			2,150			2,081		(19)%
	Specific and General Credit Reserve Build / (Release) {a)				(1	)		(68	)		(246	)		(429	)		(5	)	NM
Total Provision for Credit Losses (Sum of {a})					1,228			1,015			646			507			910		(26)%
Income Before Taxes and Minority Interest					1,432			1,488			1,903			2,013			1,589		11%
Income Taxes and Minority Interest					452			476			636			572			503		11%
Net Income				$	980		$	1,012		$	1,267		$	1,441		$	1,086		11%
Average Assets (in billions of dollars)				$	95		$	94		$	96		$	96		$	96		1%
Return on Assets					4.15	%		4.33	%		5.25	%		5.97	%		4.59	%
Return on Managed Assets					2.32	%		2.42	%		2.96	%		3.26	%		2.47	%
Average Risk Capital				$	5,513		$	5,439		$	5,205		$	5,300		$	7,233
Return on Risk Capital					71	%		75	%		97	%		108	%		61	%
Return on Invested Capital					24	%		25	%		31	%		36	%		25	%
KEY INDICATORS (in billions of dollars):
End of Period Managed Loans				$	151.9		$	154.4		$	157.3		$	165.7		$	158.3		4%
EOP Open Accounts (in millions)					137.7			141.8			141.0			140.8			139.8		2%
Total Sales				$	79.1		$	87.0		$	90.8		$	97.8		$	86.4		9%
Managed Average Yield					14.27	%		13.87	%		13.69	%		13.53	%		13.88	%
Managed Net Interest Revenue (in millions of dollars)(1)				$	4,793		$	4,556		$	4,537		$	4,467		$	4,364		(9)%
	% of Average Managed Loans				12.56	%		12.03	%		11.66	%		11.07	%		10.98	%
Net Credit Margin (in millions of dollars)(2)				$	3,369		$	3,384		$	3,710		$	3,718		$	3,661		9%
	% of Average Managed Loans				8.83	%		8.94	%		9.53	%		9.22	%		9.21	%
Average Managed Loans:
	Securitized			$	75.9		$	75.6		$	76.2		$	83.7		$	86.5		14%
	Held for Sale				—			2.1			7.4			2.9			0.2		—
	On Balance Sheet				63.1			59.2			55.5			56.8			56.6		(10)%
	North America Managed				139.0			136.9			139.1			143.4			143.3		3%
	International				14.5			15.4			15.7			17.1			17.9		23%
		Total Managed		$	153.5		$	152.3		$	154.8		$	160.5		$	161.2		5%
Managed Net Credit Losses (in millions of dollars):
	Securitized			$	1,325		$	1,244		$	1,122		$	1,174		$	1,162		(12)%
	Held for Sale				—			46			128			40			4		—
	On Balance Sheet				1,089			958			731			801			779		(28)%
	North America Managed				2,414			2,248			1,981			2,015			1,945		(19)%
	International				140			125			161			135			136		(3)%
			Total Managed	$	2,554		$	2,373		$	2,142		$	2,150		$	2,081		(19)%
Coincident Managed Net Credit Loss Ratio					6.69	%		6.27	%		5.50	%		5.33	%		5.23	%
12 Month Lagged Managed Net Credit Loss Ratio					8.10	%		7.66	%		6.74	%		5.94	%		5.50	%
Loans 90+Days Past Due (in millions of dollars)				$	3,152		$	2,808		$	2,842		$	2,944		$	2,753		(13)%
	% of EOP Managed Loans				2.08	%		1.82	%		1.81	%		1.78	%		1.74	%

(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 Net Credit Losses. This income statement reconciles to Net Income 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 replaced by the contractual servicing and excess 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.

(2)

Total Revenues, net of Interest Expense less Adjusted Net Credit Losses. Previously reported as Risk Adjusted Revenue.

Reclassified to conform to the current period's presentation.

6

GLOBAL CONSUMER
CARDS
NORTH AMERICA CARDS—Page 1
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense(1)			$	3,859		$	3,686		$	3,815		$	3,756		$	3,740		(3)%
Effect of Securitization Activities				1,325			1,290			1,250			1,214			1,166		(12)%
	Adjusted Revenues, Net of Interest Expense(2)			5,184			4,976			5,065			4,970			4,906		(5)%
Total Operating Expenses				1,533			1,518			1,616			1,649			1,590		4%
	Net Credit Losses(a)			1,089			958			731			801			779		(28)%
	Effect of Securitization Activities			1,325			1,290			1,250			1,214			1,166		(12)%
		Adjusted Net Credit Losses(2)		2,414			2,248			1,981			2,015			1,945		(19)%
	Specific and General Credit Reserve Build / (Release)(a)			—			(59	)		(161	)		(420	)		—		—
Total Provision for Credit Losses (Sum of(a))				1,089			899			570			381			779		(28)%
Income Before Taxes and Minority Interest				1,237			1,269			1,629			1,726			1,371		11%
Income Taxes and Minority Interest				405			419			562			536			460		14%
Net Income			$	832		$	850		$	1,067		$	1,190		$	911		9%
Average Assets (in billions of dollars)			$	80		$	78		$	79		$	78		$	76		(5)%
Return on Assets				4.18	%		4.38	%		5.37	%		6.07	%		4.86	%
Return on Managed Assets				2.17	%		2.25	%		2.77	%		3.00	%		2.34	%
Adjusted Revenues, Net of Interest Expense(2):
	U.S. and Canada		$	4,978		$	4,782		$	4,837		$	4,728		$	4,637		(7)%
	Mexico			206			194			228			242			269		31%
		Total	$	5,184		$	4,976		$	5,065		$	4,970		$	4,906		(5)%
Net Income:
	U.S. and Canada		$	735		$	762		$	965		$	1,100		$	784		7%
	Mexico			97			88			102			90			127		31%
		Total	$	832		$	850		$	1,067		$	1,190		$	911		9%

(1)

The 2005 first quarter includes a release of $129 million from the allowance for credit losses related to loan receivables that have been securitized during the quarter.

(2)

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 Net Credit Losses. This income statement reconciles to Net Income which is a GAAP measure. For a discussion of managed basis reporting see the Cards business on Page 6.

Reclassified to conform to the current period's presentation.

7

GLOBAL CONSUMER
CARDS
NORTH AMERICA CARDS—Page 2
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
KEY INDICATORS (in billions of dollars)
EOP Open Accounts (in millions)			121.8			121.1			120.2			120.0			118.9		(2)%
Total Sales		$	67.8		$	74.3		$	77.3		$	82.5		$	71.7		6%
Average Managed Loans		$	139.0		$	136.9		$	139.1		$	143.4		$	143.3		3%
Net Credit Margin (NCM)(1)		$	2,770		$	2,728		$	3,084		$	2,955		$	2,961		7%
	NCM as a % of Average Managed Loans		8.02	%		8.01	%		8.82	%		8.20	%		8.38	%
Managed Average Yield			14.24	%		13.83	%		13.60	%		13.39	%		13.77	%
SUPPLEMENTAL DISCLOSURE:
End of Period Managed Loans:
	Bankcards	$	112.1		$	112.9		$	115.2		$	121.7		$	115.8		3%
	Private Label		25.2			25.8			26.0			26.1			24.7		(2)%
	Total	$	137.3		$	138.7		$	141.2		$	147.8		$	140.5		2%
Managed Net Interest Revenue (in millions of dollars)(2):
	Bankcards	$	3,108		$	2,953		$	2,904		$	2,934		$	2,844		(8)%
	Private Label		1,230			1,140			1,163			1,035			1,030		(16)%
	Total	$	4,338		$	4,093		$	4,067		$	3,969		$	3,874		(11)%
	% of Average Managed Loans:
	Bankcards		11.01	%		10.65	%		10.19	%		9.93	%		9.77	%
	Private Label		19.46	%		18.07	%		17.98	%		15.88	%		16.51	%
	Total		12.56	%		12.03	%		11.63	%		11.01	%		10.96	%
Managed Net Credit Losses (in millions of dollars):
	Bankcards	$	1,864		$	1,705		$	1,523		$	1,543		$	1,514		(19)%
	Private Label		550			543			458			472			431		(22)%
	Total	$	2,414		$	2,248		$	1,981		$	2,015		$	1,945		(19)%
Coincident Managed Net Credit Loss Ratio:
	Bankcards		6.60	%		6.15	%		5.34	%		5.22	%		5.20	%
	Private Label		8.70	%		8.61	%		7.08	%		7.24	%		6.91	%
	Total		6.99	%		6.61	%		5.66	%		5.59	%		5.50	%
12 Month Lagged Managed Net Credit Loss Ratio			8.43	%		8.02	%		6.93	%		6.15	%		5.68	%
Loans 90+Days Past Due (In millions of dollars):
	Bankcards	$	2,048		$	1,817		$	1,816		$	1,919		$	1,795		(12)%
	Private Label		843			748			777			748			684		(19)%
	Total	$	2,891		$	2,565		$	2,593		$	2,667		$	2,479		(14)%
% of EOP Managed Loans:
	Bankcards		1.83	%		1.61	%		1.58	%		1.58	%		1.55	%
	Private Label		3.35	%		2.90	%		2.99	%		2.87	%		2.77	%
	Total		2.10	%		1.85	%		1.84	%		1.80	%		1.76	%

(1)

Total Revenues, net of Interest Expense less Adjusted Net Credit Losses. Previously reported as Risk Adjusted Revenue.

(2)

The abbreviated income statement on page 7 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 Net Credit Losses. This income statement reconciles to Net Income which is a GAAP measure. For a discussion of managed basis reporting see the Cards business on Page 6.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

8

GLOBAL CONSUMER
CARDS
INTERNATIONAL CARDS
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense
	EMEA		$	295		$	286		$	281		$	296		$	294		—
	Japan			68			73			74			80			73		7%
	Asia (excluding Japan)			322			362			378			410			401		25%
	Latin America			54			60			54			112			68		26%
	Total Revenues, Net of Interest Expense			739			781			787			898			836		13%
Total Operating Expenses				405			446			437			485			487		20%
	Net Credit Losses			140			125			161			135			136		(3)%
	Specific and General Credit Reserve Build / (Release)			(1	)		(9	)		(85	)		(9	)		(5	)	NM
Total Provision for Credit Losses				139			116			76			126			131		(6)%
Income Before Taxes and Minority Interest				195			219			274			287			218		12%
Income Taxes and Minority Interest				47			57			74			36			43		(9)%
Net Income			$	148		$	162		$	200		$	251		$	175		18%
Average Assets (in billions of dollars)			$	15		$	16		$	17		$	18		$	20		33%
Return on Assets				3.97	%		4.07	%		4.68	%		5.55	%		3.55	%
Net Income by Region:
	EMEA		$	38		$	36		$	36		$	55		$	32		(16)%
	Japan			21			22			26			31			17		(19)%
	Asia (excluding Japan)			71			82			110			113			101		42%
	Latin America			18			22			28			52			25		39%
	Total		$	148		$	162		$	200		$	251		$	175		18%
KEY INDICATORS (in billions of dollars)
End of Period Loans			$	14.6		$	15.7		$	16.1		$	17.9		$	17.8		22%
EOP Open Accounts (in millions)				15.9			20.7			20.8			20.8			20.9		31%
Total Sales			$	11.3		$	12.7		$	13.5		$	15.3		$	14.7		30%
Net Interest Revenue (in millions of dollars)			$	455		$	463		$	470		$	498		$	490		8%
	% of Average Loans			12.62	%		12.09	%		11.91	%		11.59	%		11.10	%
Net Credit Margin (in millions of dollars)(1)			$	599		$	656		$	626		$	763		$	700		17%
	% of Average Loans			16.61	%		17.13	%		15.86	%		17.75	%		15.86	%
Managed Average Yield				14.50	%		14.14	%		14.45	%		14.69	%		14.71	%
Average Loans:
	EMEA		$	5.5		$	5.5		$	5.4		$	5.8		$	6.1		11%
	Japan			1.2			1.2			1.2			1.4			1.3		8%
	Asia (excluding Japan)			7.3			8.2			8.6			9.3			9.8		34%
	Latin America			0.5			0.5			0.5			0.6			0.7		40%
		Total	$	14.5		$	15.4		$	15.7		$	17.1		$	17.9		23%
Coincident Net Credit Loss Ratio				3.85	%		3.25	%		4.09	%		3.16	%		3.08	%
12 Month Lagged Net Credit Loss Ratio				4.85	%		4.24	%		5.08	%		3.89	%		3.78	%
Loans 90+Days Past Due (in millions of dollars)			$	261		$	243		$	249		$	277		$	274		5%
	% of EOP Loans			1.80	%		1.55	%		1.55	%		1.55	%		1.54	%

(1)

Total Revenues, net of Interest Expense less Adjusted Net Credit Losses. Previously reported as Risk Adjusted Revenue.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

9

GLOBAL CONSUMER
CONSUMER FINANCE
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	2,688		$	2,677		$	2,631		$	2,765		$	2,750		2%
Total Operating Expenses				923			873			853			951			960		4%
	Net Credit Losses			870			857			832			872			797		(8)%
	Specific and General Credit Reserve Build / (Release)			1			(5	)		(70	)		—			(17	)	NM
	Provision for Benefits & Claims			45			42			24			38			37		(18)%
Total Provisions for Benefits, Claims and Credit Losses				916			894			786			910			817		(11)%
Income Before Taxes				849			910			992			904			973		15%
Income Taxes				282			316			349			320			344		22%
Net Income			$	567		$	594		$	643		$	584		$	629		11%
Average Assets (in billions of dollars)			$	111		$	110		$	113		$	117		$	119		7%
Return on Assets				2.05	%		2.17	%		2.26	%		1.99	%		2.14	%
Average Risk Capital			$	3,710		$	3,798		$	3,675		$	3,704		$	3,876
Return on Risk Capital				61	%		63	%		70	%		63	%		66	%
Return on Invested Capital				22	%		21	%		23	%		21	%		23	%
KEY INDICATORS:
Average Loans (in billions of dollars):
	Real estate secured loans		$	56.4		$	56.7		$	58.6		$	61.2		$	62.0		10%
	Personal loans			24.5			24.4			24.6			25.7			25.7		5%
	Auto			11.4			11.5			11.6			11.8			11.8		4%
	Sales finance and other			5.8			5.2			5.1			5.4			5.4		(7)%
		Total	$	98.1		$	97.8		$	99.9		$	104.1		$	104.9		7%
Average Yield				13.14	%		13.09	%		12.83	%		12.70	%		12.76	%
Average Net Interest Margin				10.16	%		10.19	%		9.68	%		9.81	%		9.84	%
Net Credit Margin (NCM)(1)			$	1,818		$	1,820		$	1,799		$	1,893		$	1,953		7%
	NCM as a % of Average Loans			7.45	%		7.48	%		7.16	%		7.23	%		7.55	%
Net Credit Loss Ratio				3.57	%		3.52	%		3.31	%		3.33	%		3.08	%
Loans 90+ Days Past Due (in millions of dollars)			$	2,127		$	1,948		$	1,938		$	2,014		$	1,875		(12)%
	% of EOP Loans			2.15	%		1.96	%		1.91	%		1.90	%		1.80	%
Number of Sales Points:
	North America Branches			2,759			2,608			2,624			2,642			2,669		(3)%
	International Branches			940			997			1,039			969			1,011		8%
	Japan Automated Loan Machines			382			380			419			512			523		37%
		Total		4,081			3,985			4,082			4,123			4,203		3%

(1)

Total Revenues, net of Interest Expense less Net Credit Losses.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

10

GLOBAL CONSUMER
CONSUMER FINANCE
NORTH AMERICA CONSUMER FINANCE
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	1,835		$	1,806		$	1,753		$	1,850		$	1,845		1%
Total Operating Expenses				587			536			512			567			547		(7)%
	Net Credit Losses			529			515			487			534			486		(8)%
	Specific and General Credit Reserve Build / (Release)			1			(5	)		(45	)		—			(17	)	NM
	Provision for Benefits & Claims			44			41			24			38			38		(14)%
Total Provisions for Benefits, Claims and Credit Losses				574			551			466			572			507		(12)%
Income Before Taxes				674			719			775			711			791		17%
Income Taxes				230			262			281			266			291		27%
Net Income			$	444		$	457		$	494		$	445		$	500		13%
Average Assets (in billions of dollars)			$	85		$	85		$	88		$	91		$	93		9%
Return on Assets				2.10	%		2.16	%		2.23	%		1.95	%		2.18	%
KEY INDICATORS:
Average Loans (in billions of dollars):
	Real estate secured loans		$	49.6		$	49.9		$	51.4		$	53.1		$	53.7		8%
	Personal loans			12.2			12.3			12.6			12.9			12.9		6%
	Auto			10.0			10.3			10.6			10.9			11.0		10%
	Sales finance and other			4.5			4.4			4.3			4.5			4.6		2%
		Total	$	76.3		$	76.9		$	78.9		$	81.4		$	82.2		8%
Average Yield				11.93	%		11.78	%		11.50	%		11.33	%		11.42	%
Average Net Interest Margin				8.69	%		8.52	%		7.99	%		8.19	%		8.23	%
Net Credit Margin (NCM)(1)			$	1,306		$	1,291		$	1,266		$	1,316		$	1,359		4%
	NCM as a % of Average Loans			6.88	%		6.75	%		6.38	%		6.43	%		6.70	%
Net Credit Loss Ratio				2.79	%		2.69	%		2.46	%		2.61	%		2.40	%
Loans 90+ Days Past Due (in millions of dollars)			$	1,589		$	1,444		$	1,479		$	1,525		$	1,399		(12)%
	% of EOP Loans			2.06	%		1.84	%		1.84	%		1.84	%		1.71	%
Number of Branches:
	North America (excluding Mexico)			2,597			2,446			2,450			2,452			2,452		(6)%
	Mexico			162			162			174			190			217		34%
		Total		2,759			2,608			2,624			2,642			2,669		(3)%

(1)

Total Revenues, net of Interest Expense less Net Credit Losses.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

11

GLOBAL CONSUMER
CONSUMER FINANCE
INTERNATIONAL CONSUMER FINANCE
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	853		$	871		$	878		$	915		$	905		6%
Total Operating Expenses				336			337			341			384			413		23%
	Net Credit Losses			341			342			345			338			311		(9)%
	Specific and General Credit Reserve Build / (Release)			—			—			(25	)		—			—		—
	Provision for Benefits & Claims			1			1			—			—			(1	)	NM
Total Provisions for Benefits, Claims and Credit Losses				342			343			320			338			310		(9)%
Income Before Taxes				175			191			217			193			182		4%
Income Taxes				52			54			68			54			53		2%
Net Income			$	123		$	137		$	149		$	139		$	129		5%
Average Assets (in billions of dollars)			$	26		$	25		$	25		$	26		$	26		—
Return on Assets				1.90	%		2.20	%		2.37	%		2.13	%		2.01	%
KEY INDICATORS:
Average Loans (in billions of dollars):
	Real estate secured loans		$	6.8		$	6.8		$	7.2		$	8.1		$	8.3		22%
	Personal loans			12.3			12.1			12.0			12.8			12.8		4%
	Auto			1.4			1.2			1.0			0.9			0.8		(43)%
	Sales finance and other			1.3			0.8			0.8			0.9			0.8		(38)%
		Total	$	21.8		$	20.9		$	21.0		$	22.7		$	22.7		4%
Average Yield				17.42	%		17.88	%		17.82	%		17.64	%		17.63	%
Average Net Interest Margin				15.35	%		16.33	%		16.02	%		15.66	%		15.70	%
Net Credit Margin (NCM)(1)			$	512		$	529		$	533		$	577		$	594		16%
	NCM as a % of Average Loans			9.45	%		10.18	%		10.10	%		10.11	%		10.61	%
Net Credit Loss Ratio				6.31	%		6.57	%		6.52	%		5.92	%		5.59	%
Loans 90+ Days Past Due (in millions of dollars)			$	538		$	504		$	459		$	489		$	476		(12)%
	% of EOP Loans			2.47	%		2.38	%		2.17	%		2.13	%		2.13	%
Number of Sales Points:
	Japan Branches			530			530			529			405			405		(24)%
	Japan Automated Loan Machines			382			380			419			512			523		37%
		Total Japan		912			910			948			917			928		2%
	EMEA Branches			199			228			234			252			264		33%
	Asia (excluding Japan) Branches			119			146			173			196			224		88%
	Latin America Branches			92			93			103			116			118		28%
		Total		1,322			1,377			1,458			1,481			1,534		16%
Japan:
	Average Loans (in billions of dollars)		$	11.9		$	11.4		$	10.8		$	11.2		$	10.9		(8)%
	Net Credit Loss Ratio			10.08	%		10.45	%		10.99	%		10.36	%		9.25	%
	Net Income (in millions of dollars)		$	81		$	88		$	95		$	98		$	122		51%

(1)

Total Revenues, net of Interest Expense less Net Credit Losses.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

12

GLOBAL CONSUMER
RETAIL BANKING
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	4,303		$	4,452		$	4,587		$	4,654		$	4,947		15%
Total Operating Expenses				2,291			2,468			2,521			2,684			2,693		18%
	Net Credit Losses			205			207			219			276			218		6%
	Specific and General Credit Reserve Build / (Release)			(19	)		(138	)		(188	)		(104	)		(23	)	(21)%
	Provision for Benefits & Claims			182			182			182			191			180		(1)%
Total Provisions for Benefits, Claims and Credit Losses				368			251			213			363			375		2%
Income Before Taxes and Minority Interest				1,644			1,733			1,853			1,607			1,879		14%
Income Taxes				495			552			599			451			582		18%
Minority Interest, Net of Tax				14			14			14			14			12		(14)%
Net Income			$	1,135		$	1,167		$	1,240		$	1,142		$	1,285		13%
Average Assets (in billions of dollars)			$	241		$	261		$	276		$	286		$	294		22%
Return on Assets				1.89	%		1.80	%		1.79	%		1.59	%		1.77	%
Average Risk Capital			$	12,890		$	13,091		$	13,669		$	14,237		$	14,949
Return on Risk Capital				35	%		36	%		36	%		32	%		35	%
Return on Invested Capital				18	%		18	%		18	%		17	%		18	%
KEY INDICATORS:
Average Customer Deposits (in billions of dollars):
	North America		$	112.2		$	115.7		$	116.9		$	118.0		$	120.6		7%
	Bank Deposit Program Balances(1)			41.8			41.7			41.4			41.4			42.3		1%
	Total North America			154.0			157.4			158.3			159.4			162.9		6%
	International			96.3			102.1			104.9			109.6			112.6		17%
		Total	$	250.3		$	259.5		$	263.2		$	269.0		$	275.5		10%
Average Loans (in billions of dollars):
	North America		$	121.9		$	127.8		$	134.1		$	143.3		$	150.1		23%
	North America—Liquidating			6.3			5.9			5.4			5.3			2.4		(62)%
	International			38.2			45.8			50.5			53.9			54.6		43%
		Total	$	166.4		$	179.5		$	190.0		$	202.5		$	207.1		24%
Net Interest Revenue			$	2,618		$	2,692		$	2,807		$	2,916		$	2,886		10%
Net Credit Loss Ratio—Consumer				0.49	%		0.51	%		0.47	%		0.46	%		0.46	%
Net Credit Loss Ratio—Commercial Business				0.51	%		0.31	%		0.43	%		0.89	%		0.28	%
Loans 90+Days Past Due—Consumer (in millions of dollars)			$	3,698		$	3,576		$	3,907		$	4,094		$	3,992		8%
	% of EOP Loans			2.86	%		2.46	%		2.53	%		2.47	%		2.30	%
Cash Basis Loans—Commercial Business (in millions of dollars)			$	1,213		$	1,173		$	1,000		$	735		$	593		(51)%
	% of EOP Loans			3.11	%		2.96	%		2.55	%		1.78	%		1.56	%
EOP Accounts (in millions):
	North America			30.8			31.2			32.6			32.6			32.4		5%
	International			18.1			23.9			24.2			24.1			24.5		35%
		Total		48.9			55.1			56.8			56.7			56.9		16%
Branches:
	Citibanking North America			779			775			776			775			883		13%
	Mexico			1,357			1,347			1,347			1,349			1,346		(1)%
	International			868			1,110			1,118			1,129			1,144		33%
		Total		3,004			3,232			3,241			3,253			3,373		13%
Investment AUM's (in billions):
	North America		$	73.4		$	73.3		$	74.7		$	78.5		$	78.8		7%
	International			54.1			55.9			58.8			63.3			64.6		19%
		Total	$	127.5		$	129.2		$	133.5		$	141.8		$	143.4		12%

(1)

The Bank Deposit Program balances are generated from the Smith Barney channel (Global Wealth Management segment) and the funds are managed by Citibanking North America.

Reclassified to conform to the current period's presentation.

13

GLOBAL CONSUMER
RETAIL BANKING
NORTH AMERICA RETAIL BANKING—Page 1
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense:
	Retail Distribution		$	751		$	778		$	786		$	751		$	852		13%
	Commercial Business			474			619			620			582			678		43%
	Prime Home Finance			442			312			414			339			492		11%
	Student Loans			149			149			151			163			132		(11)%
	Primerica Financial Services			531			529			532			549			551		4%
Total North America, excluding Mexico				2,347			2,387			2,503			2,384			2,705		15%
Mexico				551			560			578			663			602		9%
	Total Revenues, Net of Interest Expense			2,898			2,947			3,081			3,047			3,307		14%
Total Operating Expenses				1,542			1,698			1,733			1,795			1,699		10%
	Net Credit Losses			72			71			64			113			54		(25)%
	Specific and General Credit Reserve Build / (Release)			(18	)		(148	)		(180	)		(109	)		(8	)	56%
	Provision for Benefits & Claims			180			180			181			190			178		(1)%
Total Provisions for Benefits, Claims and Credit Losses				234			103			65			194			224		(4)%
Income Before Taxes and Minority Interest				1,122			1,146			1,283			1,058			1,384		23%
Income Taxes				339			368			422			312			437		29%
Minority Interest, Net of Tax				14			14			14			15			12		(14)%
Net Income			$	769		$	764		$	847		$	731		$	935		22%
Net Income by Business:
	Retail Distribution		$	133		$	124		$	130		$	127		$	184		38%
	Commercial Business			161			190			259			155			252		57%
	Prime Home Finance			183			147			157			108			189		3%
	Student Loans			58			56			55			58			52		(10)%
	Primerica Financial Services			137			131			136			140			134		(2)%
Total North America, excluding Mexico				672			648			737			588			811		21%
Mexico				97			116			110			143			124		28%
		Total Net Income	$	769		$	764		$	847		$	731		$	935		22%
KEY INDICATORS:
Net Interest Revenue			$	1,740		$	1,742		$	1,817		$	1,844		$	1,814		4%
Net Credit Loss Ratio—Consumer				0.11	%		0.18	%		0.09	%		0.13	%		0.15	%
Net Credit Loss Ratio—Commercial Business				0.51	%		0.30	%		0.44	%		0.86	%		0.13	%
Loans 90+Days Past Due—Consumer (in millions of dollars)			$	2,163		$	2,054		$	2,473		$	2,515		$	2,469		15%
	% of EOP Loans			2.30	%		2.03	%		2.29	%		2.10	%		2.00	%
Cash Basis Loans—Commercial Business (in millions of dollars)			$	1,135		$	1,094		$	957		$	701		$	560		(53)%
	% of EOP Loans			3.15	%		3.23	%		2.74	%		1.93	%		1.67	%

Reclassified to conform to the current period's presentation.

14

GLOBAL CONSUMER
RETAIL BANKING
NORTH AMERICA RETAIL BANKING—Page 2
(In millions of dollars)

			1Q 2004		2Q 2004			3Q 2004		4Q 2004			1Q 2005		1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
KEY INDICATORS (continued):
Retail Distribution—Average Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	60.8	$	63.0		$	64.0	$	63.9		$	65.6	8%
	Time Deposits, CDs and Other			11.9		11.2			10.7		10.6			10.9	(8)%
		Total Branch Deposits		72.7		74.2			74.7		74.5			76.5	5%
	Smith Barney Bank Deposit Program(1)			41.8		41.7			41.4		41.4			42.3	1%
		Total Deposits	$	114.5	$	115.9		$	116.1	$	115.9		$	118.8	4%
	Investment AUMs (EOP)		$	40.0	$	40.1		$	40.5	$	42.6		$	41.9	5%
	Average Loans		$	7.1	$	7.4		$	7.6	$	8.0		$	8.3	15%
Commercial Business—Average Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	13.1	$	13.3		$	13.1	$	13.5		$	13.4	2%
	Time Deposits, CDs and Other			1.0		1.1			1.2		1.5			1.7	70%
		Total Deposits	$	14.1	$	14.4		$	14.3	$	15.0		$	15.1	7%
	Average Loans		$	26.9	$	26.6		$	26.3	$	26.8		$	27.3	2%
	Average Loans—Liquidating			6.3		5.9			5.4		5.3			2.4	(62)%
	Average Loans—Total(2)		$	33.2	$	32.5		$	31.7	$	32.1		$	29.7	(10)%
Prime Home Finance—Balances (in billions of dollars)
	Average Loans		$	60.2	$	66.5		$	72.2	$	78.1		$	82.4	37%
	Originations		$	22.0	$	29.2		$	22.9	$	25.0		$	24.0	9%
	Third Party Mortgage Servicing Portfolio (EOP)		$	174.5	$	170.1		$	297.5	$	291.3		$	288.8	66%
	Net Servicing & Gain/(Loss) on Sale		$	107.1	$	(84.0	)	$	25.8	$	(48.5	)	$	82.3	(23)%
Student Loans—Balances (in billions of dollars):
	Average Loans(3)		$	24.5	$	24.5		$	25.2	$	25.9		$	26.8	9%
	Originations		$	2.2	$	1.0		$	2.6	$	2.0		$	2.5	14%
Primerica Financial Services:
	Life Insurance in Force (in billions of dollars)		$	510.7	$	522.0		$	534.2	$	545.4		$	553.1	8%
	Loan Volumes (in millions of dollars)(4)		$	749.3	$	1,104.0		$	961.0	$	987.0		$	972.8	26%
	Mutual Fund / UIT Sales at NAV (in millions of dollars)		$	927	$	861		$	768	$	769		$	903	(3)%
	Variable Annuity Net Written Premiums & Deposits (in millions of dollars)		$	296	$	263		$	258	$	278		$	328	11%
	Investment AUMs (EOP)		$	25.5	$	25.7		$	25.7	$	27.9		$	27.5	8%
Mexico—Average Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	12.3	$	11.8		$	12.0	$	12.4		$	12.9	5%
	Time Deposits, CDs and Other			9.0		9.6			9.2		9.5			10.0	11%
	Total Deposits		$	21.3	$	21.4		$	21.2	$	21.9		$	22.9	8%
	Investment AUMs (EOP)		$	7.9	$	7.5		$	8.5	$	8.0		$	9.4	19%
	Average Loans		$	6.3	$	6.2		$	6.2	$	6.9		$	7.3	16%
North America Retail Banking (including Mexico, in billions of dollars)
	Total Average Deposits		$	154.0	$	157.4		$	158.3	$	159.4		$	162.9	6%
	Total Average Loans		$	128.2	$	133.7		$	139.5	$	148.6		$	152.5	19%
	Total Investment Product Sales(5)		$	5.5	$	4.7		$	4.7	$	5.1		$	6.2	13%
	Total Investment AUMs (EOP)		$	73.4	$	73.3		$	74.7	$	78.5		$	78.8	7%
	Total EOP Accounts (in millions)			30.8		31.2			32.6		32.6			32.4	5%
		Checking Accounts (in millions)		11.7		11.8			11.8		11.8			11.4	(3)%

(1)

The Bank Deposit Program balances are generated from the Smith Barney channel (Global Wealth Management segment) and the funds are managed by Citibanking North America.

(2)

In the 2004 second quarter, approximately $2.0 billion of operating leases were reclassified from loans to other assets.

(3)

Includes approximately $2 billion of Loans Held for Sale each quarter.

(4)

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

(5)

Investment product sales include mutual funds, annuities, structured notes, brokerage activity and other investment products.

Reclassified to conform to the current period's presentation.

15

GLOBAL CONSUMER
RETAIL BANKING
INTERNATIONAL RETAIL BANKING—Page 1
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense:
	EMEA		$	685		$	721		$	687		$	764		$	766		12%
	Japan			125			119			113			114			121		(3)%
	Asia (excluding Japan)			467			540			574			583			610		31%
	Latin America			128			125			132			146			143		12%
	Total Revenues, Net of Interest Expense			1,405			1,505			1,506			1,607			1,640		17%
Total Operating Expenses				749			770			788			889			994		33%
	Net Credit Losses			133			136			155			163			164		23%
	Specific and General Credit Reserve Build / (Release)			(1	)		10			(8	)		5			(15	)	NM
	Provision for Benefits & Claims			2			2			1			1			2		—
Total Provisions for Benefits, Claims and Credit Losses				134			148			148			169			151		13%
Income Before Taxes and Minority Interest				522			587			570			549			495		(5)%
Income Taxes and Minority Interest				156			184			177			138			145		(7)%
Net Income			$	366		$	403		$	393		$	411		$	350		(4)%
Net Income (loss) by Region:
	EMEA		$	132		$	151		$	90		$	138		$	93		(30)%
	Japan			40			37			43			35			36		(10)%
	Asia (excluding Japan)			171			191			214			207			201		18%
	Latin America			23			24			46			31			20		(13)%
		Total	$	366		$	403		$	393		$	411		$	350		(4)%
KEY INDICATORS:
Net Interest Revenue			$	878		$	950		$	990		$	1,072		$	1,072		22%
Net Credit Loss Ratio—Consumer				1.48	%		1.28	%		1.33	%		1.21	%		1.20	%
Net Credit Loss Ratio—Commercial Business				0.45	%		0.42	%		0.33	%		1.05	%		1.38	%
Loans 90+Days Past Due—Consumer (in millions of dollars)			$	1,535		$	1,522		$	1,434		$	1,579		$	1,523		(1)%
	% of EOP Loans			4.35	%		3.46	%		3.08	%		3.15	%		3.05	%
Cash Basis Loans—Commercial Business (in millions of dollars)			$	78		$	79		$	43		$	34		$	33		(58)%
	% of EOP Loans			2.60	%		1.38	%		0.99	%		0.71	%		0.73	%

NM Not meaningful

Reclassified to conform to the current period's presentation.

16

GLOBAL CONSUMER
RETAIL BANKING
INTERNATIONAL RETAIL BANKING—Page 2

			1Q 2004		2Q 2004		3Q 2004		4Q 2004		1Q 2005		1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
KEY INDICATORS (Continued):
International—Balances (in billions of dollars)
	Checking, Savings & Money Market Deposits		$	51.4	$	54.7	$	55.4	$	58.2	$	59.6	16%
	Time Deposits, CDs and Other			44.9		47.4		49.5		51.4		53.0	18%
		Total Average Deposits	$	96.3	$	102.1	$	104.9	$	109.6	$	112.6	17%
	Investment Sales		$	10.2	$	9.7	$	8.8	$	9.8	$	11.3	11%
	Investment AUMs (EOP)		$	54.1	$	55.9	$	58.8	$	63.3	$	64.6	19%
Average Customer Deposits by Region (in billions of dollars):
	EMEA		$	23.9	$	24.1	$	23.9	$	25.5	$	26.0	9%
	Japan			22.6		21.7		21.6		21.9		21.8	(4)%
	Asia (excluding Japan)			43.2		49.6		52.5		55.3		57.8	34%
	Latin America			6.6		6.7		6.9		6.9		7.0	6%
		Total	$	96.3	$	102.1	$	104.9	$	109.6	$	112.6	17%
Average Loans by Type (in billions of dollars):
	Mortgages		$	12.5	$	16.4	$	19.1	$	20.2	$	20.7	66%
	Auto			2.4		2.4		2.5		2.5		2.4	—
	Personal			18.8		20.6		21.3		23.1		23.2	23%
	Commercial Markets			3.0		4.7		5.3		5.0		4.5	50%
	Other			1.5		1.7		2.3		3.1		3.8	NM
		Total	$	38.2	$	45.8	$	50.5	$	53.9	$	54.6	43%
Average Loans by Region (in billions of dollars):
	EMEA		$	18.0	$	18.1	$	18.4	$	19.5	$	19.2	7%
	Japan			0.3		0.3		0.3		0.3		0.3	—
	Asia (excluding Japan)			19.0		26.6		31.0		33.3		34.3	81%
	Latin America			0.9		0.8		0.8		0.8		0.8	(11)%
		Total	$	38.2	$	45.8	$	50.5	$	53.9	$	54.6	43%
EOP Accounts by Region (in billions of dollars):
	EMEA		$	7.9	$	8.0	$	8.1	$	8.3	$	8.4	6%
	Japan			2.2		2.2		2.1		2.1		2.1	(5)%
	Asia (excluding Japan)			5.8		11.5		11.8		11.4		11.7	NM
	Latin America			2.2		2.2		2.2		2.3		2.3	5%
		Total	$	18.1	$	23.9	$	24.2	$	24.1	$	24.5	35%
Branches by Region:
	EMEA			596		599		604		606		612	3%
	Japan			25		25		25		25		25	—
	Asia (excluding Japan)			106		341		342		347		354	NM
	Latin America			141		145		147		151		153	9%
		Total		868		1,110		1,118		1,129		1,144	33%

NM Not meaningful

Reclassified to conform to the current period's presentation.

17

CORPORATE AND INVESTMENT BANK
INCOME STATEMENT
(In millions of dollars)

				1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Revenues:
	Commissions and Fees			$	586		$	485		$	460		$	515		$	601		3%
	Asset Management and Administration Fees				610			630			624			677			696		14%
	Investment Banking				830			917			793			1,016			805		(3)%
	Principal Transactions				963			728			228			608			1,533		59%
	Other				254			1,013			469			318			250		(2)%
		Total Non-Interest Revenues			3,243			3,773			2,574			3,134			3,885		20%
		Net Interest and Dividends			2,228			2,291			2,203			2,328			2,149		(4)%
			Total Revenues, Net of Interest Expense		5,471			6,064			4,777			5,462			6,034		10%
Non-Interest Expenses:
	Compensation and Benefits				1,905			1,959			1,657			2,139			2,227		17%
	Other Operating and Administrative Expenses				1,114			9,189			1,397			1,165			1,439		29%
			Total Non-Interest Expenses		3,019			11,148			3,054			3,304			3,666		21%
Provision for Credit Losses					(60	)		(347	)		(405	)		(163	)		(56	)	7%
Income (Loss) Before Taxes and Minority Interest					2,512			(4,737	)		2,128			2,321			2,424		(4)%
Income Taxes (Benefits)					789			(1,951	)		633			622			734		(7)%
Minority Interest, Net of Tax					16			20			44			13			11		(31)%
		Net Income (Loss)		$	1,707		$	(2,806	)	$	1,451		$	1,686		$	1,679		(2)%
Pre-tax Profit Margin					45.9	%		(78.1	)%		44.5	%		42.5	%		40.2	%
Non-Compensation Expenses as a Percent of Net Revenues(1)					20.4	%		167.7	%		29.2	%		21.3	%		23.8	%
Compensation and Benefits Expenses as a Percent of Net Revenues(1)(2)					34.8	%		35.7	%		34.7	%		39.2	%		32.9	%
Compensation and Benefits Expenses as a Percent of Risk Adjusted Revenues(1)(2)(3)					34.4	%		33.6	%		32.0	%		38.0	%		32.6	%

(1)

The 2004 second quarter period excludes revenue of $584 million related to the gain on Samba.

(2)

The 2005 first quarter period excludes Expenses of $243 million related to the repositioning of certain CIB businesses.

(3)

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

NM Not meaningful

Reclassified to conform to the current period's presentation.

18

CORPORATE AND INVESTMENT BANK
CIB REVENUE DETAILS
(In millions of dollars)

					1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Revenue Details:
	Investment Banking Revenue:
		Advisory and Other Fees			$	203		$	235		$	204		$	348		$	256		26%
		Equity Underwriting				302			253			205			348			269		(11)%
		Debt Underwriting				498			544			557			588			500		—
		Revenue Allocated to Private Client Segment:
			Equity Underwriting			(115	)		(63	)		(60	)		(78	)		(95	)	17%
			Debt Underwriting			(32	)		(27	)		(18	)		(22	)		(22	)	31%
				Total Investment Banking Revenue		856			942			888			1,184			908		6%
	Lending					439			522			504			521			510		16%
	Equity Markets					747			519			490			552			707		(5)%
	Fixed Income Markets					2,504			2,536			1,816			2,229			2,916		16%
	Other Capital Markets and Banking					(15	)		(24	)		35			(139	)		(142	)	NM
	Total Capital Markets and Banking Revenues(1)					4,531			4,495			3,733			4,347			4,899		8%
	Transaction Services					939			984			1,042			1,101			1,134		21%
	Other(2)					1			585			2			14			1		—
	Total CIB Revenues				$	5,471		$	6,064		$	4,777		$	5,462		$	6,034		10%

(1)

Capital Markets and Banking revenues reflect Citigroup's portion (49%) of the results of the Nikko Citigroup Joint Venture on each respective line with an offset in Other Capital Markets and Banking to conform to the GAAP presentation.

(2)

The 2004 second quarter includes a $584 million gain related to the sale of Samba.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

19

CORPORATE AND INVESTMENT BANK
CAPITAL MARKETS AND BANKING
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense		$	4,531		$	4,495		$	3,733		$	4,347		$	4,899		8%
Total Operating Expenses			2,354			2,537			2,344			2,724			2,859		21%
Provision for Credit Losses			(26	)		(276	)		(335	)		(140	)		(46	)	(77)%
Income Before Taxes and Minority Interest			2,203			2,234			1,724			1,763			2,086		(5)%
Income Taxes			711			713			522			494			637		(10)%
Minority Interest, Net of Tax			15			19			43			12			10		(33)%
Net Income		$	1,477		$	1,502		$	1,159		$	1,257		$	1,439		(3)%
Average Risk Capital		$	15,019		$	17,470		$	19,081		$	19,094		$	19,344
Return on Risk Capital			40	%		35	%		24	%		26	%		30	%
Return on Invested Capital			31	%		27	%		19	%		20	%		23	%
Investment Banking
Global Debt, Equity and Equity-related Underwriting:
	Global Volume(1)	$	172,766		$	120,179		$	129,174		$	118,261		$	148,179		(14)%
	Global Market Share		10.1	%		8.7	%		9.6	%		8.8	%		9.2	%
	Rank		1			1			1			1			1
	U.S. Volume(1)	$	122,224		$	81,326		$	97,944		$	78,929		$	92,054		(25)%
	U.S. Market Share		12.4	%		10.0	%		11.6	%		9.9	%		10.8	%
	Rank		1			1			1			1			1

(1)

Full credit to book manager. Market volumes and shares sourced from Thomson Financial Securities Data.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

20

CORPORATE AND INVESTMENT BANK
TRANSACTION SERVICES
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense		$	939		$	984		$	1,042		$	1,101		$	1,134		21%
Total Operating Expenses			658			692			711			780			801		22%
Provision for Credit Losses			(34	)		(71	)		(70	)		(23	)		(13	)	62%
Income Before Taxes and Minority Interest			315			363			401			344			346		10%
Income Taxes			81			102			116			83			101		25%
Net Income		$	234		$	261		$	285		$	261		$	245		5%
Average Risk Capital		$	1,263		$	1,340		$	1,462		$	1,454		$	1,435
Return on Risk Capital			75	%		78	%		78	%		71	%		69	%
Return on Invested Capital			47	%		48	%		47	%		43	%		40	%
Revenue Details:
	Cash Management	$	522		$	558		$	618		$	647		$	658		26%
	Securities Services		277			283			274			304			333		20%
	Trade		140			143			150			150			143		2%
Total Revenues, Net of Interest Expense		$	939		$	984		$	1,042		$	1,101		$	1,134		21%
Liability Balances (Average in billions)		$	111		$	113		$	121		$	138		$	139		25%
Assets Under Custody (EOP in trillions)		$	6.6		$	7.0		$	7.3		$	7.9		$	8.0		21%

Reclassified to conform to the current period's presentation.

21

GLOBAL WEALTH MANAGEMENT
SMITH BARNEY
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Revenues:
Fee-Based and Net Interest Revenue		$	848		$	850		$	849		$	868		$	908		7%
Commissions and Other Transactional Revenue			881			728			674			769			758		(14)%
Total Revenues, Net of Interest Expense			1,729			1,578			1,523			1,637			1,666		(4)%
Total Operating Expenses			1,320			1,234			1,204			1,257			1,351		2%
Total Provision for Credit Losses			—			—			—			—			—		—
Income Before Taxes			409			344			319			380			315		(23)%
Income Taxes			158			135			124			154			120		(24)%
Net Income		$	251		$	209		$	195		$	226		$	195		(22)%
Pretax Profit Margin			24	%		22	%		21	%		23	%		19	%
Average Risk Capital		$	1,258		$	1,261		$	1,080		$	905		$	845
Return on Risk Capital			80	%		67	%		72	%		99	%		94	%
Return on Invested Capital			61	%		50	%		52	%		70	%		64	%
Financial Consultants			12,037			12,094			12,096			12,138			12,189		1%
Annualized Revenue per FC (000)		$	577		$	527		$	500		$	536		$	555		(4)%
Branch offices			528			526			526			524			522		(1)%
Assets (in billions of dollars):
Client Assets Under Fee-Based Management:
	Consulting Group and Internally Managed Accounts	$	144		$	146		$	145		$	156		$	155		8%
	Financial Consultant Managed Accounts		76			76			76			84			84		11%
	Total Smith Barney	$	220		$	222		$	221		$	240		$	239		9%
Total Client Assets(1)		$	925		$	924		$	920		$	978		$	969		5%
Net Client Asset Flows		$	6		$	5		$	3		$	10		$	13		NM
Bank Deposit Program Balances		$	43		$	42		$	42		$	43		$	43		—

(1)

Total Client Assets excludes previously reported Other Investor Assets within Citigroup Global Markets. These assets were historically recorded in both Smith Barney and Citigroup Asset Management. They are not a business driver for Smith Barney, so we have excluded them from Smith Barney's schedule. They will continue to be reported in Asset Management's AUMs.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

22

GLOBAL WEALTH MANAGEMENT
PRIVATE BANK
(In millions of dollars)

					1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense					$	573		$	505		$	482		$	484		$	504		(12)%
Total Operating Expenses(1)						339			286			292			733			339		0%
Total Provision for Credit Losses						4			(1	)		(7	)		(1	)		(16	)	NM
Income (Loss) Before Taxes						230			220			197			(248	)		181		(21)%
Income Taxes (Benefits)						71			68			61			(119	)		59		(17)%
Net Income (Loss)(1)					$	159		$	152		$	136		$	(129	)	$	122		(23)%
Pretax Profit Margin						40	%		44	%		41	%		(51	)%		36	%
Average Risk Capital					$	688		$	727		$	761		$	828		$	1,117
Return on Risk Capital						93	%		84	%		71	%		(62	)%		44	%
Return on Invested Capital						91	%		82	%		69	%		(63	)%		42	%
Client Business Volumes (in billions of dollars):
	Proprietary Managed Assets				$	36		$	36		$	41		$	44		$	43		19%
	Other Assets under Fee-Based Management					8			8			8			8			9		13%
	Banking and Fiduciary Deposits					45			46			47			49			46		2%
	Investment Finance					38			40			41			42			42		11%
	Other, Principally Custody Accounts					75			73			75			81			81		8%
		Total Client Business Volumes			$	202		$	203		$	212		$	224		$	221		9%
Revenues:
	Recurring Fee-Based and Net Interest Revenues(2)				$	396		$	375		$	391		$	394		$	401		1%
	Transactional Revenues					177			130			91			90			103		(42)%
			Total Revenues		$	573		$	505		$	482		$	484		$	504		(12)%
				North America	$	221		$	217		$	225		$	231		$	234		6%
				International		352			288			257			253			270		(23)%
					$	573		$	505		$	482		$	484		$	504		(12)%
Net Credit Loss Ratio						0.04	%		(0.01	)%		(0.08	)%		(0.01	)%		(0.05	)%

(1)

The 2004 fourth quarter includes a $244 million after-tax ($400 million pretax) charge related to the exit plan implementation for the Company's Private Bank operations in Japan.

(2)

Includes treasury revenue, which was previously disclosed separately.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

23

ASSET MANAGEMENT
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004		1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense		$	461		$	427		$	442		$	460	$	413		(10)%
Total Operating Expenses			293			285			321			468		297		1%
Income Before Taxes and Minority Interest			168			142			121			(8)		116		(31)%
Income Taxes			57			44			42			12		36		(37)%
Minority Interest, Net of Tax			6			(1	)		—			5		1		(83)%
Net Income (Loss)(1)		$	105		$	99		$	79		$	(25)	$	79		(25)%
Pre-tax profit margin			36.4	%		33.3	%		27.4	%		(1.7)%		28.1	%
Average Risk Capital		$	631		$	587		$	596		$	618	$	616
Return on Risk Capital			67	%		68	%		53	%		(16)%		52	%
Return on Invested Capital			14	%		14	%		12	%		0%		13	%
Asset Management (Excl. Retirement Services):
	Total Revenues, Net of Interest Expense	$	386		$	366		$	369		$	382	$	349		(10)%
	Total Operating Expenses		263			255			288			434		264		0%
	Income Before Taxes and Minority Interest		123			111			81			(52)		85		(31)%
	Income Taxes		46			40			33			1		29		(37)%
	Minority Interest, Net of Tax		6			(2	)		—			5		1		(83)%
	Net Income (Loss)(1)	$	71		$	73		$	48		$	(58)	$	55		(23)%
Retirement Services:
	Total Revenues, Net of Interest Expense	$	75		$	61		$	73		$	78	$	64		(15)%
	Total Operating Expenses		30			30			33			34		33		10%
	Income (Loss) Before Taxes and Minority Interest		45			31			40			44		31		(31)%
	Income Taxes (Benefits)		11			4			9			11		7		(36)%
	Minority Interest, Net of Tax		—			1			—			—		—		—
	Net Income (Loss)	$	34		$	26		$	31		$	33	$	24		(29)%

Reclassified to conform to the current period's presentation.

24

GLOBAL INVESTMENT MANAGEMENT
ASSET MANAGEMENT — Page 2
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005		1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Net Flows by Business (in billions of dollars):
Retail/Private Bank		$	3.9		$	0.1		$	0.6		$	(0.2	)	$	0.7	(82)%
Institutional(4)
	Long Term		4.1			3.3			0.9			(10.1	)		2.1	(49)%
	Liquidity		(4.6	)		(0.1	)		5.6			6.9			9.4	NM
Total Institutional			(0.5	)		3.2			6.5			(3.2	)		11.5	NM
	Net Flows Excluding US Retail Money Markets	$	3.4		$	3.3		$	7.1		$	(3.4	)	$	12.2	NM
US Retail Money Markets		$	—		$	(3.2	)	$	(0.7	)	$	(0.4	)	$	0.7	—
Assets Under Management (in billions of dollars)(1):
Assets Under Management by Business (in billions of dollars):
Retail/Private Bank(2)(6)		$	236.4		$	231.8		$	230.8		$	239.1		$	230.1	(3%)
Institutional(3)(6)			227.5			194.1			204.3			209.1			218.3	(4)%
Retirement Services			9.8			9.5			10.1			10.8			11.1	13%
	Total Assets Under Management(2, 3, 6)	$	473.7		$	435.4		$	445.2		$	459.0		$	459.5	(3)%
Assets Under Management by Product (in billions of dollars):
Equity/Balanced		$	165.4		$	166.8		$	165.2		$	172.1		$	166.0	0%
Fixed Income(5)			185.7			147.0			152.4			152.3			151.5	(18)%
Money Markets/Liquidity			122.6			121.6			127.6			134.6			142.0	16%
	Total Assets Under Management(2, 3, 6)	$	473.7		$	435.4		$	445.2		$	459.0		$	459.5	(3)%
Number of Morningstar 4- and 5-star Mutual Fund share classes(5)
Equity			15			12			15			16			11	(27)%
Fixed Income			11			17			16			17			19	73%
CitiStreet Joint Venture—Assets Under Administration (in billions of dollars)		$	208		$	198		$	202		$	218		$	224	8%

(1)

Assets Under Management are reported on a levered-basis which reflects assets purchased with borrowed funds. Assets owned by clients totaled $458 billion at March 31, 2005. Assets related to CAI Institutional alternative investments of $52 billion as of December 31, 2004 were previously shown here (on a levered basis), and are now reflected in Client Capital under Management (on an unlevered basis) in the Alternative Investments business.

(2)

Includes $34, $33, $34 and $34 billion for the first, second, third and fourth quarters of 2004, respectively, and $34 billion for the first quarter of 2005 for Citigroup Private Bank clients.

(3)

Includes St. Paul Travelers Fixed Income assets of $36, $2, $3 and $3 billion for the first, second, third and fourth quarters of 2004, respectively. Assets related to CAI Institutional alternative investments of $54, $52, $53 and $52 billion for the first, second, third and fourth quarters of 2004, respectively, were previously shown here (on a levered basis), and are now reflected in Client Capital under Management (on an unlevered basis) in the Alternative Investment business.

(4)

Institutional flows exclude the impact of changes in asset levels with the St. Paul Travelers Fixed Income account referenced in footnote (3).

(5)

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.

(6)

Includes $3 billion of AUMs for the 2004 second, third and fourth quarters (Retail of $1 billion and Institutional of $2 billion for all three quarters) and $2 billion of AUM's for the first quarter of 2005 related to KorAm.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

25

ALTERNATIVE INVESTMENTS(1)
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense			$	180		$	537		$	287		$	659		$	866		NM
Total Operating Expenses				87			123			112			140			105		21%
Provision for Credit Losses				1			(1	)		—			—			—		(100)%
Income Before Taxes and Minority Interest				92			415			175			519			761		NM
Income Taxes				30			135			54			164			267		NM
Minority Interest, Net of Tax				36			7			10			22			132		NM
Net Income			$	26		$	273		$	111		$	333		$	362		NM
	Assets (in billions)		$	8.6		$	8.4		$	8.4		$	8.9		$	9.7
	Average Risk Capital (in billions)			3.6			3.7			3.6			3.7			4.1
	Return on Risk Capital			3	%		30	%		12	%		36	%		36	%
	Return on Invested Capital			1	%		28	%		10	%		34	%		34	%
Total Revenues, Net of Interest Expense (by Business):
Client			$	49		$	50		$	58		$	76		$	62
Proprietary Investment Activities:
	Private Equity			76			460			225			563			752
	Hedge Funds			50			(30	)		(15	)		7			30
	Other			5			57			19			13			22
Total Proprietary Investment Activities				131			487			229			583			804
		Total	$	180		$	537		$	287		$	659		$	866
Total Revenues, Net of Interest Expense (by Type):
Client			$	49		$	50		$	58		$	76		$	62
Proprietary Investment Activities:
	Fees/Dividends/Interest			38			92			50			89			81
	Realized & Unrealized Gains (including Public Mark-to-Market)			60			364			148			467			706
	Other			33			31			31			27			17
Total Proprietary Investment Activities				131			487			229			583			804
		Total	$	180		$	537		$	287		$	659		$	866
Capital Under Management (in billions):
Client			$	21.8		$	19.7		$	20.2		$	20.4		$	20.2
Proprietary Investment Activities				7.3			7.4			7.6			8.1			8.8
Capital Under Management			$	29.1		$	27.1		$	27.8		$	28.5		$	29.0

(1)

Includes Citigroup Venture Capital activities and certain other corporate investments.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

26

SUPPLEMENTAL INFORMATION
DISCONTINUED OPERATIONS(1)
(In millions of dollars)

	1Q 2004		2Q 2004		3Q 2004		4Q 2004		1Q 2005		1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	1,206	$	1,107	$	1,434	$	1,425	$	1,362	13%
Total Operating Expenses		222		220		289		281		273	23%
Provision for Benefits and Claims		649		627		853		788		692	7%
Income Before Taxes		335		260		292		356		397	19%
Income Taxes		86		96		47		113		124	44%
Net Income	$	249	$	164	$	245	$	243	$	273	10%

(1)

Discontinued Operations represents the operations from the Company's January 31, 2005 announced agreement for the sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance business, to MetLife, Inc. The transaction is subject to certain domestic and international regulatory approvals, as well as other customary conditions to closing and is expected to close during the 2005 second or third quarter.

27

CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004		4Q 2004			1Q 2005		1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Revenues
	Loan interest, including fees		$	10,769		$	10,794		$	11,018	$	11,215		$	11,273	5%
	Other interest and dividends			4,328			4,627			5,181		5,751			6,262	45%
	Insurance premiums			648			636			668		774			735	13%
	Commissions and fees			4,139			4,308			3,305		4,229			4,209	2%
	Principal transactions			1,311			1,062			400		943			2,215	69%
	Asset management and administration fees			1,714			1,651			1,683		1,790			1,832	7%
	Realized gains (losses) from sales of investments			131			218			303		183			243	85%
	Other revenue			1,702			2,867			2,396		2,274			2,192	29%
		Total revenues		24,742			26,163			24,954		27,159			28,961	17%
		Interest expense		4,460			4,968			5,874		6,698			7,428	67%
		Total revenues, net of interest expense		20,282			21,195			19,080		20,461			21,533	6%
Benefits, Claims, and Credit Losses
	Policyholder benefits and claims			227			223			206		228			217	(4)%
	Provision for credit losses			2,230			1,588			1,029		1,386			1,813	(19)%
		Total benefits, claims, and credit losses		2,457			1,811			1,235		1,614			2,030	(17)%
Operating Expenses
	Non-insurance compensation and benefits			5,878			5,877			5,595		6,295			6,677	14%
	Net occupancy expense			1,067			1,228			1,242		1,303			1,253	17%
	Technology / communication expense			866			902			931		884			882	2%
	Insurance underwriting, acquisition and operating			102			93			85		76			82	(20)%
	Restructuring-related items			(3	)		—			—		(2	)		—	100%
	Other operating			2,510			10,313			2,602		3,118			2,761	10%
		Total operating expenses		10,420			18,413			10,455		11,674			11,655	12%
Income from Continuing Operations before Income
	Taxes and Minority Interest			7,405			971			7,390		7,173			7,848	6%
Provision (benefit) for income taxes				2,312			(47	)		2,258		2,044			2,516	9%
Minority interest, net of income taxes				69			38			69		51			164	NM
Income from Continuing Operations				5,024			980			5,063		5,078			5,168	3%
Discontinued Operations (1)
	Income from Discontinued Operations			335			260			292		356			397
	Provision for income taxes			86			96			47		113			124
Income from Discontinued Operations, net				249			164			245		243			273
Net Income			$	5,273		$	1,144		$	5,308	$	5,321		$	5,441	3%

(1)

Discontinued Operations represents the operations from the Company's January 31, 2005 announced agreement for the sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance business, to MetLife, Inc. The transaction is subject to certain domestic and international regulatory approvals, as well as other customary conditions to closing and is expected to close during the 2005 second or third quarter.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

28

CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)

		March 31, 2004			June 30, 2004			September 30, 2004			December 31, 2004			March 31, 2005 (1)			March 31, 2005 vs. December 31, 2004 Inc (Decr)
Assets
Cash and due from banks (including segregated cash and other deposits)		$	23,104		$	26,462		$	25,483		$	23,556		$	25,620		9%
Deposits at interest with banks			23,104			24,710			23,407			23,889			28,563		20%
Federal funds sold and securities borrowed or purchased under agreements to resell			184,089			194,594			208,159			200,739			202,099		1%
Brokerage receivables			35,159			41,494			37,987			39,273			40,747		4%
Trading account assets			232,227			245,037			264,227			280,167			272,841		(3)%
Investments			203,311			205,245			205,632			213,243			167,585		(21)%
Loans, net of unearned income
	Consumer		383,678			398,558			408,376			435,226			430,008		(1)%
	Corporate		100,438			112,859			112,309			113,603			117,651		4%
Loans, net of unearned income			484,116			511,417			520,685			548,829			547,659		—
Allowance for credit losses			(12,506	)		(12,715	)		(12,034	)		(11,269	)		(10,894	)	3%
	Total loans, net		471,610			498,702			508,651			537,560			536,765		—
Goodwill			28,549			30,215			30,809			31,992			32,076		—
Intangible assets			13,953			14,525			16,192			15,271			15,572		2%
Reinsurance recoverables			4,598			4,683			4,722			4,783			818		(83)%
Separate and variable accounts			28,841			29,474			29,839			32,264			1,225		(96)%
Other assets			69,046			81,427			81,446			81,364			71,093		(13)%
Assets of discontinued operations held for sale			—			—			—			—			95,078		—
Total assets		$	1,317,591		$	1,396,568		$	1,436,554		$	1,484,101		$	1,490,082		—
Liabilities
	Non-interest-bearing deposits in U.S. offices	$	30,078		$	31,654		$	30,785		$	31,533		$	32,840		4%
	Interest-bearing deposits in U.S. offices		151,124			153,237			156,802			161,113			166,141		3%
	Non-interest-bearing deposits in offices outside the U.S.		25,730			27,182			27,420			28,379			29,930		5%
	Interest-bearing deposits in offices outside the U.S.		292,257			312,327			319,444			341,056			339,958		—
Total deposits			499,189			524,400			534,451			562,081			568,869		1%
Federal funds purchased and securities loaned or sold under agreements to repurchase			179,743			202,940			217,157			209,555			217,599		4%
Brokerage payables			37,271			42,524			41,986			50,208			52,088		4%
Trading account liabilities			127,076			132,247			137,078			135,487			120,511		(11)%
Contractholder funds and separate and variable accounts			60,618			62,237			63,341			68,801			1,621		(98)%
Insurance policy and claims reserves			17,871			18,007			18,416			19,177			4,994		(74)%
Investment banking and brokerage borrowings			26,159			26,459			27,697			25,799			30,433		18%
Short-term borrowings			40,705			40,917			35,506			30,968			32,271		4%
Long-term debt			178,588			189,071			198,713			207,910			208,148		—
Other liabilities(2)			48,487			59,455			58,843			64,824			56,658		(13)%
Liabilities of discontinued operations held for sale			—			—			—			—			86,376		—
Total liabilities			1,215,707			1,298,257			1,333,188			1,374,810			1,379,568		—
Stockholders' equity
Preferred Stock			1,125			1,125			1,125			1,125			1,125		—
Common Stock			55			55			55			55			55		—
Additional paid-in capital			18,407			18,519			18,685			18,851			19,884		5%
Retained earnings			96,659			95,707			98,930			102,154			105,269		3%
Treasury stock			(11,442	)		(11,135	)		(10,814	)		(10,644	)		(10,497	)	1%
Accumulated other changes in equity from nonowner sources			(122	)		(3,338	)		(2,424	)		(304	)		(1,681	)	NM
Unearned compensation			(2,798	)		(2,622	)		(2,191	)		(1,946	)		(3,641	)	(87)%
Total stockholders' equity			101,884			98,311			103,366			109,291			110,514		1%
Total liabilities and stockholders' equity		$	1,317,591		$	1,396,568		$	1,436,554		$	1,484,101		$	1,490,082		—

(1)

Preliminary.

(2)

Includes allowance for credit losses for letters of credit and unfunded lending commitments of $600 million for the first, second, third and fourth quarters of 2004, respectively, and $600 million for the first quarter of 2005.

NM

Not meaningful

Reclassified to conform to the current period's presentation.

29

CITIGROUP SEGMENT BALANCE SHEET(1)
March 31, 2005
(In millions of dollars)

		Global Consumer			Corporate and Investment Banking			Global Wealth Management			Asset Management		Alternative Investments		Corporate/ Other & Consolidating Eliminations			Discontinued Operations		Total Citigroup Consolidated (GAAP)
Assets:
Cash and due from banks		$	9,866		$	15,450		$	152		$	131	$	5	$	16		$	—	$	25,620
Deposits at interest with banks			4,608			23,301			609			—		43		2			—		28,563
Federal funds sold and securities borrowed or purchased under agreements to resell			2,389			199,092			286			332		—		—			—		202,099
Brokerage receivables			4			26,127			14,616			—		—		—			—		40,747
Trading account assets			2,579			269,316			649			262		—		35			—		272,841
Investments			50,108			93,158			1,741			475		8,983		13,120			—		167,585
Consumer loans			389,408			—			40,600			—		—		—			—		430,008
Corporate loans			—			117,406			—			50		177		18			—		117,651
	Loans, net of unearned income		389,408			117,406			40,600			50		177		18			—		547,659
Allowance for credit losses			(7,972	)		(2,834	)		(88	)		—		—		—			—		(10,894	)
	Total loans, net		381,436			114,572			40,512			50		177		18			—		536,765
Goodwill			23,410			5,924			377			2,003		—		362			—		32,076
Intangible assets			14,190			330			—			847		—		205			—		15,572
Reinsurance receivables			818			—			—			—		—		—			—		818
Separate and variable accounts			1,225			—			—			—		—		—			—		1,225
Other			34,118			25,968			3,015			1,355		497		6,140			—		71,093
Assets of discontinued operations held for sale			—			—			—			—		—		—			95,078		95,078
Total identifiable assets		$	524,751		$	773,238		$	61,957		$	5,455	$	9,705	$	19,898		$	95,078	$	1,490,082
Liabilities and Equity:
Total deposits		$	239,251		$	236,229		$	92,787		$	531	$	—	$	71		$	—	$	568,869
Federal funds purchased and securities loaned or sold under agreements to repurchase			7,302			207,906			1,971			420		—		—			—		217,599
Brokerage payables			—			47,920			4,168			—		—		—			—		52,088
Trading account liabilities			177			119,823			414			39		58		—			—		120,511
Contractholder funds and separate and variable accounts			1,621			—			—			—		—		—			—		1,621
Insurance policy and claims reserve			4,844			—			—			—		—		150			—		4,994
Investment banking and brokerage borrowings			—			30,433			—			—		—		—			—		30,433
Short-term borrowings			2,268			15,781			2,432			3		—		11,787			—		32,271
Long-term debt			41,861			60,479			—			4		—		105,804			—		208,148
Other liabilities			23,777			28,078			1,967			465		1,987		384			—		56,658
Liabilities of discontinued operations held for sale			—			—			—			—		—		—			86,376		86,376
Net intersegment funding/(lending)			203,650			26,589			(41,782	)		3,993		7,660		(208,812	)		8,702		—
Stockholders' equity			—			—			—			—		—		110,514			—		110,514
Total liabilities and equity allocation to businesses		$	524,751		$	773,238		$	61,957		$	5,455	$	9,705	$	19,898		$	95,078	$	1,490,082
Average Risk Capital for the Three Months Ended March 31, 2005:
Average Risk Capital(1)(2)		$	26,058		$	20,779		$	1,962		$	616	$	4,089	$	(1,834	)	$	3,244	$	54,914

NOTE—The above supplemental information reflects the Company's consolidated period ending GAAP balance sheet broken out by reporting segment. The respective segment information closely depicts the assets and liabilities managed by each segment. While this presentation is not defined by GAAP (generally accepted accounting principles), the Company believes that these non-GAAP financial measures enhance investors understanding of the balance sheet components managed by the underlying business segments as well as the beneficial interrelationship of the asset and liability dynamics of the balance sheet components among the Company's business segments. The Company believes that investors may find it useful to see these non-GAAP financial measures to analyze financial performance. The table above provides the supplemental information and the corresponding GAAP financial measure at March 31, 2005.

This Segment Balance Sheet closely depicts the assets and liabilities managed by each of the respective business segments. The reported balances have been derived from the core financial reporting processes managed by the respective segment's finance organization. Adjustments have been made, where they are significant, to balances managed by one segment's financial infrastructure on behalf of another segment's customer base.

(1)

Preliminary

(2)

Risk Capital provides a better understanding of the capital resources employed in each segment. Risk Capital is defined as the amount of capital needed to cover unexpected economic losses during extreme events and is the denominator used in calculating Return on Risk Capital on page 31 of the supplement. Management believes Return on Risk Capital is useful to make incremental decisions and serves as a key metric for organic growth initiatives. Return on Risk Capital is a non-GAAP performance measure.

30

CITIGROUP—RETURN ON CAPITAL(1)

			Average Risk Capital ($M)									Return on Risk Capital			Return on Invested Capital
			First Quarter 2004			Fourth Quarter 2004			First Quarter 2005			First Quarter 2004	Fourth Quarter 2004	First Quarter 2005	First Quarter 2004	Fourth Quarter 2004	First Quarter 2005
Global Consumer:
	Cards		$	5,513		$	5,300		$	7,233		71%	108%	61%	24%	36%	25%
	Consumer Finance			3,710			3,704			3,876		61%	63%	66%	22%	21%	23%
	Retail Banking			12,890			14,237			14,949		35%	32%	35%	18%	17%	18%
	Other			—			—			—		—	—	—	—	—	—
		Total Global Consumer		22,113			23,241			26,058		47%	53%	44%	20%	23%	20%
Corporate and Investment Banking:
	Capital Markets and Banking			15,019			19,094			19,344		40%	26%	30%	31%	20%	23%
	Transaction Services			1,263			1,454			1,435		75%	71%	69%	47%	43%	40%
	Other			—			—			—		—	—	—	—	—	—
		Total Corporate and Investment Banking		16,282			20,548			20,779		42%	33%	33%	33%	24%	24%
Global Wealth Management:
	Smith Barney			1,258			905			845		80%	99%	94%	61%	70%	64%
	Private Bank			688			828			1,117		93%	(62)%	44%	91%	(63)%	42%
	Total Global Wealth Management			1,946			1,733			1,962		85%	22%	66%	70%	17%	54%
Asset Management				631			618			616		67%	(16)%	52%	14%	0%	13%
Alternative Investments				3,647			3,722			4,089		3%	36%	36%	1%	34%	34%
Corporate / Other(2)				(1,017	)		(2,082	)		(1,834	)	NM	NM	NM	NM	NM	NM
Total Citigroup—Continuing Operations(2)(3)			$	43,602		$	47,780		$	51,670		46%	42%	41%
Discontinued Operations(4)				3,479			3,355			3,244		29%	29%	34%	26%	26%	31%
Total Citigroup—Net Income(2)(4)			$	47,081		$	51,135		$	54,914		45%	41%	40%	21%	20%	20%

(1)

Risk Capital is defined as the amount of capital needed to cover unexpected economic losses during extreme events. Return on Risk Capital is defined as income divided by Risk Capital. Return on Invested Capital is a similar calculation but includes adjustments for goodwill and intangibles in both the numerator and denominator, similar to those necessary to translate return on tangible equity to return on total equity. Return on Risk Capital and Return on Invested Capital are non-GAAP performance measures. Management believes Return on Risk Capital is useful to make incremental investment decisions and serves as a key metric for organic growth initiatives. Return on Invested Capital is used for multi-year investment decisions and as a long term performance measure.

(2)

Average Risk Capital is net of the cross-sector diversification. Average Invested Capital includes the difference between Tangible Equity and Risk Capital, which is also included in the Total Citigroup Return on Invested Capital.

(3)

On a Continuing Operations Basis. See Note 4 on page 2.

(4)

Total Citigroup Return on Invested Capital equals Citigroup Return on Equity.

NM

Not meaningful

31

CONSUMER LOAN DELINQUENCY AMOUNTS, NET CREDIT LOSSES AND RATIOS
(In millions of dollars, except loan amounts in billions)

				90 Days Or More Past Due(1)												Net Credit Losses(1)
													EOP Loans 1Q05												Average Loans 1Q05
				1Q04			4Q04			1Q05						1Q04			4Q04			1Q05
PRODUCT VIEW:
	Cards			$	3,152		$	2,944		$	2,753		$	158.3		$	2,554		$	2,150		$	2,081		$	161.2
	Ratio				2.08	%		1.78	%		1.74	%					6.69	%		5.33	%		5.23	%
		North America Cards			2,891			2,667			2,479			140.5			2,414			2,015			1,945			143.3
			Ratio		2.10	%		1.80	%		1.76	%					6.99	%		5.59	%		5.50	%
		International Cards			261			277			274			17.8			140			135			136			17.9
			Ratio		1.80	%		1.55	%		1.54	%					3.85	%		3.16	%		3.08	%
	Consumer Finance				2,127			2,014			1,875			104.3			870			872			797			104.9
	Ratio				2.15	%		1.90	%		1.80	%					3.57	%		3.33	%		3.08	%
		North America Consumer Finance			1,589			1,525			1,399			82.0			529			534			486			82.2
			Ratio		2.06	%		1.84	%		1.71	%					2.79	%		2.61	%		2.40	%
		International Consumer Finance			538			489			476			22.3			341			338			311			22.7
			Ratio		2.47	%		2.13	%		2.13	%					6.31	%		5.92	%		5.59	%
	Retail Banking (excluding Commercial Markets)				3,698			4,094			3,992			173.2			155			186			192			169.0
	Ratio				2.86	%		2.47	%		2.30	%					0.49	%		0.46	%		0.46	%
		North America Retail Banking			2,163			2,515			2,469			123.3			26			36			43			119.1
			Ratio		2.30	%		2.18	%		2.00	%					0.11	%		0.13	%		0.15	%
		International Retail Banking			1,535			1,579			1,523			49.9			129			150			149			49.9
			Ratio		4.35	%		3.15	%		3.05	%					1.48	%		1.21	%		1.20	%
	Private Bank				155			127			125			39.0			4			(1	)		(5	)		38.7
	Ratio				0.43	%		0.33	%		0.32	%					0.04	%		(0.01	)%		(0.05	)%
	Other				—			—			—			1.6			(1	)		(1	)		—			1.4
Managed Loans (Excluding Commercial Markets)(2)				$	9,132		$	9,179		$	8,745		$	476.4		$	3,582		$	3,206		$	3,065		$	475.2
	Ratio				2.19	%		1.92	%		1.84	%					3.47	%		2.73	%		2.62	%
Securitized Receivables (all in North America Cards)					(1,399	)		(1,296	)		(1,296	)		(87.7	)		(1,325	)		(1,174	)		(1,162	)		(86.5	)
Loans Held-for-Sale					—			(32	)		(10	)		(0.6	)		—			(40	)		(4	)		(0.2	)
On-Balance Sheet Loans (Excluding Commercial Markets)				$	7,733		$	7,851		$	7,439		$	388.1		$	2,257		$	1,992		$	1,899		$	388.5
	Ratio				2.27	%		2.02	%		1.92	%					2.68	%		2.09	%		1.98	%
				Cash-Basis Loans(1)												Net Credit Losses(1)
		Commercial Markets Groups		$	1,213		$	735		$	593			38.0		$	50		$	90		$	26			38.1
			Ratio		3.11	%		1.78	%		1.56	%					0.51	%		0.89	%		0.28	%
Total Consumer Loans(2)(3)													$	426.1											$	426.6

REGIONAL VIEW (Excluding Commercial Markets):

			90 Days Or More Past Due(1)												Net Credit Losses(1)
												EOP Loans 1Q05												Average Loans 1Q05
			1Q04			4Q04			1Q05						1Q04			4Q04			1Q05
	North America (excluding Mexico)		$	6,316		$	6,327		$	5,957		$	361.2		$	2,959		$	2,546		$	2,428		$	359.3
		Ratio		1.96	%		1.75	%		1.65	%					3.72	%		2.88	%		2.74	%
	Mexico			395			433			436			9.3			14			37			47			9.1
		Ratio		5.43	%		4.93	%		4.70	%					0.77	%		1.69	%		2.07	%
	Europe, Middle East and Africa			1,722			1,781			1,732			38.5			207			230			227			38.5
		Ratio		5.08	%		4.53	%		4.50	%					2.46	%		2.40	%		2.39	%
	Japan			382			308			276			14.8			305			297			257			15.6
		Ratio		2.14	%		1.91	%		1.86	%					7.07	%		7.15	%		6.68	%
	Asia (excluding Japan)			281			299			316			49.3			91			95			101			49.5
		Ratio		0.83	%		0.61	%		0.64	%					1.09	%		0.79	%		0.82	%
	Latin America			36			31			28			3.3			6			1			5			3.2
		Ratio		1.27	%		0.93	%		0.85	%					0.76	%		0.18	%		0.59	%
Managed Loans (Excluding Commercial Markets)(2)			$	9,132		$	9,179		$	8,745		$	476.4		$	3,582		$	3,206		$	3,065		$	475.2
	Ratio			2.19	%		1.92	%		1.84	%					3.47	%		2.73	%		2.62	%
Securitized Receivables (all in North America Cards)				(1,399	)		(1,296	)		(1,296	)		(87.7	)		(1,325	)		(1,174	)		(1,162	)		(86.5	)
Loans Held-for-Sale				—			(32	)		(10	)		(0.6	)		—			(40	)		(4	)		(0.2	)
On-Balance Sheet Loans (Excluding Commercial Markets)			$	7,733		$	7,851		$	7,439		$	388.1		$	2,257		$	1,992		$	1,899		$	388.5
	Ratio			2.27	%		2.02	%		1.92	%					2.68	%		2.09	%		1.98	%

(1)

The ratios of 90 days or more past due, cash-basis loans and net credit losses are calculated based on end-of-period and average loans, respectively, both net of unearned income.

(2)

This table presents consumer credit information on a managed basis and shows the impact of securitizations to reconcile to a held basis. Only North America Cards from a product view and North America from a regional view are impacted. Managed basis reporting is a non-GAAP measure. Held basis reporting is the related GAAP measure. For a discussion of managed basis reporting see the Cards business on page 6.

(3)

Total Loans and Total Average Loans exclude certain interest and fees on credit cards of approximately $4 billion and $4 billion, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.

Reclassified to conform to the current period's presentation.

32

ALLOWANCE FOR CREDIT LOSSES
TOTAL CITIGROUP
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Allowance for Credit Losses at Beginning of Period		$	12,643		$	12,506		$	12,715		$	12,034		$	11,269
Gross Credit (Losses)			(3,012	)		(2,660	)		(2,574	)		(2,627	)		(2,451	)	19%
Gross Recoveries			527			535			660			550			549		4%
	Net Credit (Losses) / Recoveries (NCL's)		(2,485	)		(2,125	)		(1,914	)		(2,077	)		(1,902	)	23%
NCL'S—Excluding Loan Charge-offs with a Specific Reserve			2,343			2,078			1,665			1,919			1,797		(23)%
General Reserve Releases			(171	)		(541	)		(752	)		(618	)		(20	)	88%
General Reserve Builds			—			—			66			12			—		—
Specific Reserve Builds			58			51			50			73			36		(38)%
	Provision for Credit Losses		2,230			1,588			1,029			1,386			1,813		(19)%
Other(1)			118			746			204			(74	)		(286	)
Allowance for Credit Losses at End of Period		$	12,506		$	12,715		$	12,034		$	11,269		$	10,894
Corporate Allowance for Unfunded Lending Commitments(2)		$	600		$	600		$	600		$	600		$	600
Total Allowance for Loans, Leases and Unfunded Lending Commitments		$	13,106		$	13,315		$	12,634		$	11,869		$	11,494
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Loans			2.71	%		2.60	%		2.43	%		2.16	%		2.10	%

(1)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

(a)

For the first quarter 2005, reductions to the credit loss reserves of $129 million related to securitizations and $90 million from the sale of CitiCapital's transportation portfolio.

(b)

For the second quarter 2004, the addition of $715 million of credit loss reserves from the acquisition of KorAm Bank.

(c)

For the first quarter 2004, the addition of $148 million of credit loss reserves related to the acquisition of Washington Mutual Finance Corporation.

(2)

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

NM Not meaningful

Reclassified to conform to the current period's presentation.

33

ALLOWANCE FOR CREDIT LOSSES
CONSUMER LOANS(1)
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Allowance for Credit Losses at Beginning of Period		$	9,088		$	9,218		$	9,316		$	8,894		$	8,379
Gross Credit (Losses)			(2,746	)		(2,572	)		(2,390	)		(2,533	)		(2,379	)	13%
Gross Recoveries			439			425			455			451			454		3%
	Net Credit (Losses)/Recoveries (NCL's)		(2,307	)		(2,147	)		(1,935	)		(2,082	)		(1,925	)	17%
NCL'S—Excluding Loan Charge-offs with a Specific Reserve			2,307			2,126			1,863			1,984			1,884		(18)%
General Reserve Releases			(21	)		(191	)		(502	)		(468	)		(20	)	5%
General Reserve Builds			—			—			66			12			—		—
Specific Reserve Builds			4			—			4			21			5		25%
	Provision for Credit Losses		2,290			1,935			1,431			1,549			1,869		(18)%
Other(2)			147			310			82			18			(263	)
Allowance for Credit Losses at End of Period		$	9,218		$	9,316		$	8,894		$	8,379		$	8,060
Net Consumer Credit (Losses) as a Percentage of Average Consumer Loans			2.45	%		2.22	%		1.93	%		1.97	%		1.83	%
Consumer Allowance for Credit Losses As a Percentage of Total Consumer Loans			2.40	%		2.34	%		2.18	%		1.93	%		1.87	%

(1)

Includes Commercial Business loans and loans made to Private Bank clients.

(2)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

(a)

For the first quarter 2005, reductions to the credit loss reserves of $129 million related to securitizations and $90 million from the sale of CitiCapital's transportation portfolio.

(b)

For the second quarter 2004, the addition of $274 million of credit loss reserves from the acquisition of KorAm Bank.

(c)

For the first quarter 2004, the addition of $148 million of credit loss reserves related to the acquisition of Washington Mutual Finance Corporation.

NM Not meaningful

Reclassified to conform to the current period's presentation.

34

ALLOWANCE FOR CREDIT LOSSES
CORPORATE LOANS(1)
(In millions of dollars)

		1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005			1Q 2005 vs. 1Q 2004 Increase/ (Decrease)
Allowance for Credit Losses at Beginning of Period		$	3,555		$	3,288		$	3,399		$	3,140		$	2,890
Gross Credit (Losses)			(266	)		(88	)		(184	)		(94	)		(72	)	73%
Gross Recoveries			88			110			205			99			95		8%
	Net Credit (Losses) / Recoveries (NCL's)		(178	)		22			21			5			23		NM
NCL'S—Excluding Loan Charge-offs with a Specific Reserve			36			(48	)		(198	)		(65	)		(87	)	NM
General Reserve Releases			(150	)		(350	)		(250	)		(150	)		—		100%
General Reserve Builds			—			—			—			—			—		—
Specific Reserve Builds			54			51			46			52			31		(43)%
	Provision for Credit Losses		(60	)		(347	)		(402	)		(163	)		(56	)	7%
Other(2)			(29	)		436			122			(92	)		(23	)
Allowance for Credit Losses at End of Period		$	3,288		$	3,399		$	3,140		$	2,890		$	2,834
Net Corporate Credit (Losses) as a Percentage of Average Corporate Loans			0.73	%		NM			NM			NM			NM
Corporate Allowance for Credit Losses As a Percentage of Total Corporate Loans			3.27	%		3.01	%		2.80	%		2.54	%		2.41	%
Corporate Allowance for Unfunded Lending Commitments (3)		$	600		$	600		$	600		$	600		$	600
Total Corporate Allowance for Loans, Leases and Unfunded Lending Commitments		$	3,888		$	3,999		$	3,740		$	3,490		$	3,434
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Corporate Loans			3.87	%		3.54	%		3.33	%		3.07	%		2.92	%

(1)

Includes Loans related to the Corporate / Other segment.

(2)

Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc. The significant items reported on this line for the periods presented include:

(a)

The 2004 second quarter includes the addition of $441 million of credit loss reserves related to the acquisition of KorAm Bank.

(3)

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

NM

Not meaningful

Reclassified to conform to the current period's presentation.

35

NON-PERFORMING ASSETS
(In millions of dollars)

			1Q 2004			2Q 2004			3Q 2004			4Q 2004			1Q 2005
CASH-BASIS AND RENEGOTIATED LOANS
Corporate Cash-Basis Loans
Collateral Dependent (at lower of cost or collateral value)			$	71		$	59		$	15		$	7		$	8
Other				2,842			2,560			2,185			1,899			1,724
		Total Corporate Cash-Basis Loans	$	2,913		$	2,619		$	2,200		$	1,906		$	1,732
Corporate Cash-Basis Loans
JENA(1)			$	805		$	748		$	553		$	483		$	510
Other International(2)(3)				2,108			1,871			1,647			1,423			1,222
		Total Corporate Cash-Basis Loans	$	2,913		$	2,619		$	2,200		$	1,906		$	1,732
Corporate Cash-Basis Loans as a % of Total Corporate Loans				2.90	%		2.32	%		1.96	%		1.68	%		1.47	%
Consumer Cash-Basis (excluding Commercial Markets)			$	4,693		$	4,399		$	4,452		$	4,728		$	4,477
Commercial Markets Cash-Basis Loans				1,213			1,173			1,000			735			593
	Total Consumer Cash-Basis Loans		$	5,906		$	5,572		$	5,452		$	5,463		$	5,070
CitiCapital Collateral Dependent Loans (included in Commercial Markets Cash-Basis Loans)			$	474		$	377		$	440		$	285		$	167
Renegotiated Loans (includes Corporate and Commercial Markets Loans)			$	124		$	111		$	95		$	83		$	36
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS
Consumer(4)			$	396		$	369		$	373		$	320		$	286
Corporate and Investment Bank(4)				94			98			95			126			127
TOTAL OTHER REAL ESTATE OWNED			$	490		$	467		$	468		$	446		$	413
OTHER REPOSSESSED ASSETS(5)			$	123		$	97		$	100		$	93		$	74

(1)

JENA includes Japan, Western Europe and North America.

(2)

Other International includes Asia (excluding Japan), Mexico, Latin America, Central and Eastern Europe, the Middle East and Africa.

(3)

Includes $227 million, $313 million, $248 million and $209 million of cash-basis loans for KorAm at June 30, 2004, September 30, 2004, December 31, 2004 and March 31, 2005, respectively. The $39 million decrease from December 31, 2004, reflects the Company's ongoing review of KorAm's loan portfolio.

(4)

Represents repossessed real estate, carried at lower of cost or fair value, less costs to sell.

(5)

Primarily transportation equipment, carried at lower of cost or fair value, less costs to sell.

Reclassified to conform to the current period's presentation.

36

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CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT