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Global Consumer Banking

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Global Consumer Banking 2017 Investor Day Global Consumer Banking Stephen Bird, CEO, Global Consumer Banking Jud Linville, CEO, Global Cards and Consumer Services July 25, 2017 Global Consumer Banking Our Franchise Contribution to Citi ($B, LTM’17) • Global business with presence in 19 markets GCB ICG Corp / Other • Business model designed to meet the full financial needs of attractive client segments in high growth markets $1,864 $959 $71 $15 5% 3% 5% • Leading positions in Cards & Wealth Management across U.S., Asia and Mexico 30% 22% 32% ‒ #1 credit card issuer globally by loans 45% ‒ Strong position in retail in U.S. wealth markets ‒ Top 3 wealth manager in Asia, #1 NPS in key markets(1) ‒ Leading franchise in Mexico, #1 in deposits + AUMs 73% • Light physical presence with high digital capability 65% 70% 49% • Unique commercial banking solutions leveraging ICG network • Source of stable, low-cost funding • Strong track record of expense and credit discipline, pivoting to (2) (2) revenue growth Assets Deposits Revenues Net Income GCB: $419 $309 $32 $5 Note: Throughout this presentation, LTM is defined as last twelve months ended June 30th and totals may not sum due to rounding. GCB: Global Consumer Banking; ICG: Institutional Clients Group. 1 (1) #1 Citigold Net Promoter Score (NPS) in 9 of 14 markets where survey results are available; #1 Citi Priority NPS in 7 of 9 markets where survey results are available. (2) End of period as of 2Q’17. Poised for Sustainable Growth and Improved Returns • A streamlined, diversified franchise and business model with significant opportunities for global leverage Strong franchise • Common, segment-driven model focused on affluent and emerging affluent target clients in growing with world-class value propositions for each segment markets… • Light physical footprint and leading global capabilities and partnerships that differentiate us from peers • Disciplined risk management framework • Executing on important investments across the business in areas like Branded Cards, U.S. wealth management and Mexico …driving client- • Able to rapidly deploy new digital capabilities across markets led growth and • Optimizing how we engage with clients to improve client experience, deepen client improved returns penetration and also lower cost to serve • Clear path to longer-term RoTCE of over 20% reflecting client-led growth and the benefit of higher interest rates, along with continued expense and credit discipline 2 A Diversified Global Business With Leading Market Positions U.S. Asia Mexico Net Income Net Income Net Income Retail Banking* 17% Branded Branded Branded Retail Retail Cards Cards Cards Revenue: $20B Banking Revenue: $7B Banking Revenue: $5B * 37% * 41% Retail 46% Net Income: $3B 63% Net Income: $1B 59% Net Income: $0.6B Services 37% • 72MM clients • 16MM clients • 21MM clients • ~700 branches • ~400 branches • ~1,500 branches • #1 deposits per branch in core • Leading wealth management • #1 client share(3) (1) markets franchise • #1 in bank brand recognition • #2 credit card issuer by loans • Citigold NPS: #1 in key markets(2) (Citibanamex)(4) • Iconic card partnerships: American • Strong cards and loans business • #1 bank in total deposits and AUMs(5) Airlines, Costco, The Home Depot • #2 credit card issuer by loans Note: *Shaded portion within Retail Banking represents Commercial Banking. Totals may not sum due to rounding. Revenue and net income represents LTM’17 results. Throughout this presentation, Asia GCB includes the results of operations of GCB activities in certain EMEA countries for all periods presented. (1) Source: FDIC as of June 2016. National Average across Top 15 deposit institutions. (2) #1 Citigold NPS in 9 of 14 markets where survey results are available. (3) PRM Base study on banking market in Mexico 2016. 3 (4) Source: Brand Finance Mexico 50 2017 report. (5) Source: CNBV and competitive analysis. Our Business Model Creates Opportunities for Global Leverage & Scale Our Global Operating Model Benefits of Global Leverage Delivered Globally Managed Locally Value Propositions • Brand & Marketing • Client Service • Segmentation Design • Sales & Advisory Partnerships & Suppliers • Value Proposition • Product & Pricing • Network Playbook • Distribution • Process & Platform • Mobile Execution ATMs • Partnerships • Merchants & Suppliers Success Transfer Across Markets • Risk & Control Framework • Underwriting Mobile Banking / Agile Development Next Generation Digital Capabilities Formats and Partnerships 4 Our Client-Led Growth Model is Supported by Unique Global Capabilities Our Clients Segment Definition(1) Retail & Wealth Management Cards/Payments $200K+ in DM / Affluent $100K+ in EM Emerging $50K+ in DM / Affluent $25K+ in EM <$50K in DM / Mass Market <$25K in EM Borrow Pay Save Invest Protect Fulfilling Client Needs Across Life Stages Our Capabilities Class-Leading Value Propositions & Partnerships Retail & Wealth Management | Cards Network Digital Innovation Risk, Data & Analytics Distinctive Brand Talent & Culture 5 Note: DM: Developed Markets; EM: Emerging Markets. (1) Balance requirements for each segment refer to total deposits and assets under management. Agenda Strong Foundation For Growth Path to Achieving Our Targets Our Businesses Key Takeaways 6 Strong Foundation for Growth Efforts to streamline franchise and enhance global capabilities are now delivering results • Reduced presence to 19 markets with large, growing revenue pools Market Focus • Concentrated branch presence in urban locations • Completed common platform in U.S. to enable holistic client view and segmentation strategy Value Propositions • Rationalized card products and continued roll-out of global products and rewards • Renewed all key co-brand card and Retail Services relationships through 2020+ Partnerships • Established important digital partnerships to support eCommerce and client acquisition • Continued to reduce branches and optimize formats (e.g., wealth centers) Network • Rapidly migrated transaction activity from tellers / call centers to self-service channels • Radically accelerated time to market with new digital capabilities Innovation • Enhanced risk analytics and client acquisitions using big data 7 Value Propositions & Partnerships: Retail & Wealth Management Segment-driven Business Model(1) Citigold Value Proposition Accelerating Growth Segments Client Footings Rev. / Client Citigold Clients In-depth research on markets, Insight trends and opportunities from 12% Citi Institutional Research Citigold >$230B >25x Custom “always on” end-to-end Access Wealth Management solutions 2Q'16 2Q'17 Citi Priority ~$70B >6x Citi Priority Clients Dedicated Citi Relationship Your Team Manager and team of experts 7% Exclusive, curated lifestyle and Citibank >$90B 1x Privileges banking privileges, preferred pricing and service 2Q'16 2Q'17 Note: 8 (1) Clients by segment, qualified by maintaining deposits & investments balances above local currency thresholds. (Asia clients qualify based on deposit & investments and insurance balances). Client footings includes deposits, investments and loan balances. Footings and rev. / client across retail banking and cards, for 2Q’17. Value Propositions & Partnerships: Cards Proprietary Global Products & Platforms(1) Iconic Partners(2) Accelerating Growth (Constant $B) Branded Cards Retail Services Costco Home Improvement ex Costco #1 Retailer LTM Purchase Sales $478 80 $342 $364 #1 No fee product 80 103 80 3 #1 Cash back (U.S.) World’s Largest #1 Airline 281 295 #1 General purpose reward card program 262 2Q'15 2Q'16 2Q'17 Warehouse EOP Loans $155 #1Club $144 $130 45 43 43 Consumer 110 #1 Electronics Retailer 87 100 Digital Rewards Entertainment #1 Platform #1 Platform 2Q'15 2Q'16 2Q'17 Note: Constant dollar excludes the impact of foreign exchange translation into U.S. dollars for reporting purposes. For a reconciliation of constant dollars to reported results, please refer to Slide 55. (1) Simplicity rank based on number of countries where no late fee card offered; Double Cash rank based on NPS as measured by JDPower; Reward cards rank based on number of markets where general purpose rewards cards offered (excluding charge and commercial cards); Rewards Platform based on number of markets where online redemption offered; Entertainment Platform based on Private Pass ticket 9 sales and events including those offered through our Live Nation partnership. (2) Source: Forbes (THD, AA) and Market Realist (COST, BBY) based on total sales volume relative to overall industry. Network: Light Physical Footprint with Leading Digital Capabilities Client-Centric Ecosystem Relationship Next Generation Managers & ATMs Mobile Banking Digital Partnerships Formats Financial Advisors (21)% 15% 57% 42% 50+ Branch Count Banker Expansion in U.S. Global ATMs Mobile Users Digital Partnerships (2013 to 2Q’17) (2Q’16 to 2Q’17) (2Q’16 to 2Q’17) (May’16 to May’17) 10 Digital Innovation: Engaging Clients Through Digital & Mobile Channels Increased Acquisitions Improvements in NPS (Cards Example) Accounts Acquired through Digital Channels since YoY %r Mobile App NPS tracking 15% +800bps 2Q'12 2Q'13 2Q'14 2Q'15 2Q'16 2Q'17 May'16 May'17 Increased Adoption Digital / Mobile Users YoY %r Digital NPS 42% +1,650bps Mobile 27% Digital 2Q'12 2Q'13 2Q'14 2Q'15 2Q'16 2Q'17 May'16 May'17 Increased Engagement Industry Recognition Digital Usage (90 day) / Mobile Usage (30 day) YoY %r World’s Best 17% Mobile Digital Bank Digital 5% 11 May'16 May'17 Risk, Data & Analytics: Building Next Generation Targeting Capabilities Moving
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