Citigroup Giving in Asia Pacific
2005 Community Annual Report contents
Cover: Chinese microentrepreneur, Zhao Xiufen from 2 Citigroup Giving In Asia Pacific Yi County in Hebei Province, is one of a growing number of microfinance clients in China. Microfinance helps to reduce poverty through increased access to basic Priorities: financial services like credit. To support the development 4 Microfinance of the country’s microfinance sector, Citigroup has given 6 Financial Education a US$1.5 million grant to set up China’s first national 8 Educating The Next Generation microfinance training centre and microfinance association. 10 Disaster Response 12 Environment 13 Volunteering
Regional Highlights: 14 Australia 16 Bangladesh 17 Brunei 18 China 22 Guam 23 Hong Kong 25 India 27 Indonesia 29 Korea 33 Malaysia 35 New Zealand 36 Philippines 38 Singapore 40 Sri Lanka 41 Taiwan 44 Thailand 48 Vietnam
52 Asia Pacific Grants 2005
56 Asia Pacific Community Awards
58 from the management
Welcome to the 2005 Community Citigroup has been in this region Annual Report from Citigroup Asia for more than 100 years and we Pacific. It’s designed to provide an are proud of our focus on long-term insight into the wide-ranging work and sustainable community programs, that Citigroup and our many partners complemented by emergency relief are undertaking in communities when needed. We are also proud of throughout the region. our highly diverse and experienced workforce that contributes thousands Sharing Citigroup’s At Citigroup, we recognize that we are of hours each year to support part of these communities, and like these programs. resources, knowledge all community members, we share a and expertise to benefit responsibility to make them better. Our thanks go to our community partners, our employees and the individuals, families, We do this not only by providing Citigroup Foundation. Their collective communities and local vital financial services in our day-to- efforts are making a real difference to day business operations, but also by the lives of millions of individuals and economies across enabling individuals and families to families in Asia Pacific, and helping to have greater control over their own strengthen entire communities and Asia Pacific social and economic development. local economies. We hope this report This helps to spread the benefits of does at least some justice to your economic growth, to reduce poverty outstanding contributions. and to raise standards of living.
Robert Morse Ashok Vaswani Deepak Sharma CEO, Corporate & Investment Banking CEO, Consumer Banking CEO, Global Wealth Management Citigroup Asia Pacific Citigroup Asia Pacific Citigroup Asia Pacific & Middle East
Citigroup’s Community Giving in Asia Pacific
In 2005, Citigroup Our presence Citigroup’s community giving in Asia Pacific Citigroup, the world’s largest financial is primarily focused in the following areas: committed more than services company, does business in more than 100 countries. We provide consumers, Our priorities US$20 million to support corporations, governments and institutions Microfinance – reducing poverty over 140 community with a broad range of financial products by stimulating the development and services, including consumer banking of microenterprises programs in Asia Pacific and credit, corporate and investment Citigroup is one of the world’s largest banking, securities brokerage and corporate donors to the microfinance wealth management. sector. Over the last five years, the Citigroup Foundation has granted US$26.9 We have been in business in Asia Pacific million to fund microfinance initiatives for 104 years. With more than 20 million in more than 50 countries. In Asia alone, consumer accounts and 50,000 employees we have given more than US$10 million in across 18 countries and territories, we grants since 1997 to support microfinance offer more services and more markets programs. In addition to providing grants, to a greater number of clients than any the Citigroup Microfinance Group has other financial institution in Asia Pacific. commercial relationships with microfinance In addition, 98% of Citigroup employees in institutions around the world, including these countries are local residents. in Asia.
Strengthening local communities Citigroup’s commitment to the region The Citigroup Foundation arises not only from our history and broad Much of Citigroup’s contribution to the presence here, but also from our close community in Asia Pacific is in the form involvement with the communities that of grants from the Citigroup Foundation, Citigroup serves. based in New York.
Working together with a global In 2005, Citigroup committed more network of Citigroup colleagues and than US$20 million to support over 140 community partners, the Foundation community programs in Asia Pacific. This supports programs in the areas of amount included: Financial Education, Educating the Next Organized by Citigroup and the Resource Alliance Generation, and Building Communities and funded by the Citigroup Foundation, the Asia • US$8.4 million in grants from the Pacific NGO Awards promote best practices in the and Entrepreneurs. Within those areas, NGO sector. The 2005 winner was Hong Kong’s Citigroup Foundation the Foundation provides grants and Senior Citizen Home Safety Association (SCHSA). technical expertise to organizations Timothy Ma Kam Wah from SCHSA received the that help people improve their lives, award at a prize-giving ceremony in Singapore from • US$11 million that the Citigroup Catherine Weir, Head of ASEAN, Citigroup Corporate Foundation, Citigroup businesses and businesses grow, and communities and Investment Banking and Citigroup Country our employees committed to relief and prosper around the world. Officer for Singapore. reconstruction efforts following the In 2005, the Citigroup Foundation made South Asia tsunami (this excludes a more than 3,000 grants in 84 countries US$1 million grant in December 2004 to a value of US$85.1 million. for immediate disaster relief)
Since 2001, the Foundation has made • various contributions made by Citigroup contributions around the world totaling businesses to local charities over US$326 million.
Financial education/literacy million (including a US$1 million grant in – helping people make more informed December 2004) was committed by the decisions about how to manage Citigroup Foundation and by Citigroup their money businesses and employees toward disaster Citigroup globally has committed US$200 relief and reconstruction activities in the million over 10 years to financial education affected areas. for individuals, families and communities. In 2005, Citigroup Asia Pacific developed and Environment – rewarding funded more than 50 financial education environmentally-responsible programs, including financial services entrepreneurship training, to a value of over US$3 million. We contribute to sustainable development More than 1,000 Citigroup volunteers gave in countries such as China and Indonesia by their time to support these programs. awarding grants to programs that support environmentally and socially-responsible Every year, hundreds of Educating the next generation entrepreneurs. – improving access to quality education Citigroup employees in for young people Volunteering – contributing our time, In 2005, we contributed over US$1.6 knowledge and expertise Asia Pacific volunteer million to non-profit organizations in Every year, hundreds of Citigroup thousands of hours to a Asia Pacific to support educational employees in Asia Pacific volunteer initiatives. This included Citigroup thousands of hours to a wide range of wide range of community Foundation grants for programs that community programs. To encourage promote early literacy development or participation in volunteer activities, we give programs improve the quality of learning through each employee a paid day off every year innovative teaching methods. to lend their support to an organization of their choice. When employees give 50 Disaster response – supporting or more hours of their time in one year, relief and reconstruction efforts in crisis the Citigroup Foundation also contributes situations US$500 to that organization. In the aftermath of the 2004 South Asia tsunami, for example, more than US$12
In early 2005, tens of thousands of Citigroup employees contributed to tsunami disaster relief efforts by donating money, and participating in fund-raising and volunteer activities, such as this group of Citigroup Malaysia employees who helped Mercy Malaysia and the Malaysian Red Crescent Society to pack and load relief supplies bound for Aceh. Microfinance
Since its first microfinance According to the Asian Development Bank, initiatives in more than 50 countries. In some 690 million people in Asia live in Asia alone, we have committed more than grant over 25 years ago, extreme poverty, earning US$1 a day or less. US$10 million in grants since 1997 for They have no access to the basic financial programs that provide wide-scale support Citigroup has become services that the developed world takes for for the microfinance sector. Separately, one of the world’s largest granted, which makes it even harder for the Citigroup Microfinance Group has them to climb out of poverty. commercial relationships with a growing corporate donors to the number of well-managed and sustainable Microfinance has started to fill this gap. microfinance institutions (MFIs) around the microfinance sector The microfinance movement began with world, including in Asia. microcredit, the provision of very small loans at commercial interest rates to allow Citigroup Foundation grants focus on poor people to create or expand a small helping large numbers of MFIs to improve business that could provide them with reach and effectiveness, and also on ongoing income. For the very poor, even one promoting microfinance generally to US$50 loan can be enough to generate an stimulate wider support from the public enterprise that can change the future of a and private sectors. whole family. Several of these microfinance loans can change a community; thousands can transform an economy.
Microenterprises or the “world’s smallest businesses” now represent an estimated Microfinance and tsunami 80% of all enterprises throughout the In line with Citigroup’s commitment to world. They provide around 20% of GDP microfinance as a key factor in long-term in developing countries and are the main economic revitalization, we gave grants source of jobs for poor people. Today, the worth US$500,000 to the Foundation microfinance industry is developing rapidly for Development Cooperation (FDC). in Asia Pacific and globally, providing poor These reconstruction programs are communities with a range of financial strengthening microfinance providers so they can better protect and support products and services such as credit, poor communities impacted by future savings, insurance and remittances. disasters.
Citigroup and microfinance • Lead sponsorship of FDC’s Pan-Asian Citigroup recognizes that microfinance Forum on Microfinance in Crisis can play a critical role in reducing poverty Situations in Colombo, Sri Lanka, in Citigroup’s global Chief Executive Officer, Chuck Prince, and Ela Bhatt, Chairperson of the Indian and achieving local sustainable economic June 2005. More than 120 delegates School of Microfinance for Women (ISMW) at the growth and vitality. from 15 countries shared strategies dedication ceremony in Mumbai in 2005 for the and policies for microfinance school’s Citigroup Center for Financial Literacy. providers operating in communities The Citigroup Foundation has committed US$3.5 Since its first microfinance grant over 25 million over five years to establish the ISMW. years ago, Citigroup has become one of impacted by crises including natural The Ahmedabad-based school is one of the few disasters like the tsunami. educational institutions in the world to focus solely the world’s largest corporate donors to on the discipline of microfinance, and helps address the microfinance sector. Over the last five • Training program for more than the huge need for training that exists in the sector. years, the Citigroup Foundation has granted 500 people involved in microfinance US$26.9 million to fund microfinance in tsunami-affected areas in India, Indonesia, Sri Lanka and Thailand, so that these MFI staff, government officials, and private sector and NGO representatives are better prepared to deal with future disasters.
Initiatives in Asia Pacific approximately 2,800 people from across 10 countries in the region. These Since the Asian financial crisis in the late India as well as other parts of Asia trainers will in turn be able to train 1990s, Citigroup has given over US$4 and Africa more than 5,000 MFI staff in their million in grants to various microfinance own countries organizations including Grameen • US$1.5 million grant to the Chinese Foundation USA and Grameen Trust. Academy of Social Sciences to • To highlight the talents and These grants have provided seed-funding provide better training and support contributions of microentrepreneurs, to help new microfinance organizations services for China’s microfinance and inspire other people to start their establish themselves, as well as scale-up sector by establishing the Citigroup own businesses, Citigroup has run funding for existing organizations. This has Microfinance Training Center and the microentrepreneurship programs in the increased the capacity of at least 16 MFIs China Association of Microfinance. The Philippines and India for several years. to serve millions of poor people in training center will train more than In 2005, to celebrate the International Bangladesh, China, India, Indonesia, 1,000 management and staff from year of Microcredit, the Citigroup Korea, Malaysia, the Philippines, Sri Lanka, MFIs by 2009 and the association is Foundation and the United Nations Thailand, and Vietnam. providing a knowledge and information Capital Development Fund jointly hub to support the development of the organized the implementation of the More recent major Citigroup-funded microfinance sector in China Global Microentrepreneurship Awards microfinance initiatives in Asia Pacific include: (GMA). The GMA program was run in 30 • The MFI Management Training countries around the world including • US$3.5 million grant to help establish the Accreditation Program led by the Bangladesh, China, India, Indonesia, Indian School of Microfinance for Women, Asian Institute of Management (AIM) and the Philippines one of the few educational institutions in in Manila, which is using management the world to focus solely on the discipline training modules developed by Citibank of microfinance. Over the next five Philippines employees to certify more years the school will provide training for than 100 trainers from MFIs across
The 25 winners of the first-ever Global Microentrepreneurship Awards (GMA) in China received their awards in Beijing in November 2005. Run by Citigroup and the United Nations Development Programme (UNDP), the awards recognized and rewarded the entrepreneurial skills of some of China’s most outstanding microentrepreneurs across nine categories – Rural Agriculture; Rural Animal Husbandry; Rural Non-agriculture; Urban Trade; Urban Processing; Urban Services; Best Urban Loan Officer; Best Rural Loan Officer; and most Innovative Microentrepreneur.
Financial education
Founded on our belief that “knowledge In 2005, we funded two key regional is your greatest asset”, our commitment initiatives designed to increase the number, to financial education, also known as quality, and accessibility of financial financial literacy, is one of Citigroup’s education programs in Asia Pacific highest priorities. by providing support for the financial education advocates and providers: the It has long been our experience that 2005 Asia Pacific Financial Education teaching people how to spend, save, invest, Summit, and “FinEdx” (Financial Education borrow and manage debt wisely helps them Exchange), an innovative online learning improve the quality of their lives. Moreover, and knowledge hub. financial education benefits almost every level of society – individuals, families, small Advancing Financial Literacy in businesses, institutions, communities, and Asia Pacific: the Citigroup-INSEAD ultimately, entire economies. 2005 Asia Pacific Financial Education Summit Founded on our belief In April 2004, Citigroup and the Following the success of the first Citigroup Foundation announced a 10-year, Citigroup-INSEAD Financial Education that “knowledge is US$200 million commitment to financial Summit in Hong Kong in November 2004, education, focused on three areas: our next Financial Education Summit your greatest asset”, personal financial education, small business (www.financialeducationsummit.org) held in our commitment to financial education and institutional Kuala Lumpur, Malaysia, in December 2005, financial education. attracted 280 participants from financial education 30 countries. In Asia Pacific is one of Citigroup’s As a natural extension of the work we do highest priorities at Citigroup every day, we identify, support and implement initiatives that help give people the tools they need to make sound financial decisions. In 2005, Citigroup supported over 50 financial education programs in Asia Pacific with around US$3 million in funding from the Citigroup Foundation and Citigroup businesses. These programs involved an estimated 1,120 employee volunteers.
Our financial education programs span both developed and developing economies and are aimed at all ages from primary Keynote speaker at the second Citigroup-INSEAD school children to adults. They also cater Financial Education Summit in Kuala Lumpur in to different education levels: teenagers 2005 was Donald Johnston, Secretary-General for the OECD. His address emphasized that financial who need to learn how to use credit wisely; education needs to be part of basic education as some of the region’s top graduates who, it provides individuals with lifelong skills to better with enhanced business and financial manage their finances. acumen, can contribute to their country’s economic growth and policy-making; non-profit leaders who are seeking better financial management skills; and micro- entrepreneurs with the most basic financial literacy needs.
While the focus at the 2004 Summit was FinEdx: the Citigroup-INSEAD on financial education for women, the Asia Pacific Financial Education scope was widened in 2005 to examine Exchange how government, educators, non-profit Launched in 2005, FinEdx is the first organizations and the private sector can online knowledge and learning platform work together to advance financial literacy for financial educators in Asia Pacific. It among youth and adults in Asia Pacific. has been developed as an ongoing, easily accessible resource to help people develop The agenda included high-level discussions and deliver effective financial education about the economic and social development programs in the region. imperatives for improving financial literacy levels, as well as demonstrating different The FinEdx website (www.finedx.org) approaches and best practices in financial features a range of downloadable teaching education curriculum development and materials, research reports, best-practice Ashok Vaswani, CEO, Consumer Banking, Citigroup program delivery at both national and case studies and impact assessment tools, Asia Pacific was the first person to sign in as a grassroots levels. Panel discussions and as well as international resource directories FinEdx member at its launch in September 2005. case studies shared information about and local program contact information. financial education programs both in the region and globally, and introduced many In its first three months, FinEdx received of the programs funded by Citigroup. nearly 5,000 homepage hits and signed up more than 330 members from 36 different countries, representing a range of academic institutions, government agencies, corporations and non-profit organizations.
Educating the next generation
We believe all children We recognize that teachers have a vital CSFs provide small, competitive cash role to play in improving education where grants to teachers to implement creative should have access to it matters – in the classroom. The most curriculum ideas for their classes. effective education measures aren’t always Depending on the country, the teaching education that helps those handed down as part of a formal subject areas can include English, history, them acquire the framework; sometimes the best ideas come science, cultural studies, business, from those standing at the front of the personal finance, consumer education, or knowledge and skills to class who understand day-to-day what their environmental education. students need and will respond to. find a rewarding career, Teachers are invited to submit their ideas better manage their We also recognize that involving families as proposals, from which a number are and the wider community is key to selected to receive grants in order to lives and fully participate improving education on a sustainable, long- implement their suggestions. At the end term basis. This community-based approach of each year’s program, a small group of in society creates a wider culture of learning, so that winners and runners-up are selected to win when children leave the classroom and additional cash grants for their schools. return to their homes and communities Successful teachers may also prepare – and when the next generation comes detailed profiles and curriculum kits of their along – they find themselves part of an classroom-tested new ideas, so that other education-focused society where they teachers can adapt them in years to come. never stop learning. Judging panels are made up of volunteers To achieve this, our youth education drawn from the community and Citigroup programs focus on involving parents and employees. Winning proposals are selected community leaders to build a broader with reference to a range of criteria, learning network for children; improving including the level of innovation; the access to basic education for children in potential to involve parents, community all areas, whether they live in urban slums groups, businesses and government or remote rural regions; and shifting the agencies; the potential to bridge cultural emphasis in the classroom from a teacher- barriers to learning; and the ability to centered to a learner-centered approach in motivate students to embrace learning on order to improve children’s self-reliance. an ongoing basis.
Citigroup Success Funds: When implementing a CSF in a local rewarding innovation in the community, Citigroup works with local classroom in Asia Pacific groups including community leaders Close to 10,000 students in Western China will Citigroup Success Funds (CSFs) are offered and educators, educational institutions, improve their computing and online communication in six Asia Pacific countries and are all government agencies, teachers’ unions skills thanks to the Citigroup-UNICEF Sister Schools project. Following the launch of the program in funded by the Citigroup Foundation. and parent organizations to determine December 2004, around 50 schools in the region They are designed to stimulate innovation the particular educational needs of are now linked via a computer network. The program and achievement, enabling teachers to that community. promotes cooperation between students, teachers and schools – it also enables the sharing of quality put extraordinary ideas into practice to teaching resources. motivate their students and allow them to So far, CSFs have improved the quality experience success. of education in schools in Hong Kong, Indonesia, Korea, the Philippines, Taiwan and Thailand.
Case study: CSF Indonesia Raising the standard: further Asia In Indonesia, where the program has Pacific educational initiatives run since 2003, CSF is managed by supported by Citigroup the local non-profit organization, Yayasan As well as the Citigroup Success Funds, we Hope Indonesia, with support from Citibank support a broad range of other educational Peka, Citigroup Indonesia’s community initiatives in Asia Pacific, from basic literacy relations program. programs to vocational skills training, reaching children of all ages, from early Applications to the 2005 program were primary school to school-leavers. required to fall into one of three categories: activities that help prepare students to be In China, Citigroup and UNICEF collaborate self-reliant members of society; activities on the Sister Schools Project, an that encourage social concern and bridge educational initiative aimed at bridging differences such as ethnicity, religion and the “digital divide” between Eastern gender; and activities that develop English and Western China and urban and rural language proficiency. One of the key areas. The program is designed to desired outcomes was a more interactive, familiarize students, teachers and school less teacher-centric classroom. administrators with on-line research methods and web-based communication. In 2005, 987 proposals were received from The project links 50 schools across China Since its introduction in Jakarta in 2003, the high school teachers in Jakarta, Bandung, through a computer network and offers Indonesia Citigroup Success Funds program has expanded significantly. It now also involves schools Semarang and Surabaya, a 90% increase training activities that develop participants’ in Bandung, Semarang and Surabaya and nearly on the previous year. CSF grants equivalent computer proficiency and internet 1,000 applications were received in 2005. to US$71,900 were awarded to 133 teachers research skills. Participating schools will in the first round of proposal selection by have technology integrated into their a panel of judges that included leading curricula and over time it is hoped that educators and editors from major national the development of child-friendly learning and local newspapers. At the end of the environments will encourage an important year, the 10 best programs were awarded shift from teacher-centered to student- further cash prizes of US$500 per teacher centered learning. Citigroup has granted and US$1,000 per school. Additional cash US$230,000 over three years to support prizes of US$100 were given to the 10 this project, which is designed to benefit runner-up programs. around 10,000 children.
A newsletter was also developed and In India, where over 50 million children do circulated in high schools in the four not attend school and half of those who participating cities to provide a forum for do cannot read, the Citigroup Foundation teachers and students to share views about is supporting the expansion of Pratham, learning processes in their schools and to a leading NGO in the primary education familiarize them with the possibilities for field. Pratham works to involve families improvement opened up by CSF. and communities in its programs and operates at a grassroots level to provide In 2005 alone, the program is estimated to Indian children with access to preschool have directly involved up to 8,000 students and the ability to read, write and do basic and more than 420 Citigroup Indonesia arithmetic by the age of six. Pratham also employees participated in the running of sets up community-led libraries to sustain the program. children’s interest in reading and support wider learning. The Citigroup Foundation has pledged US$1,121,000 over three years, which will assist Pratham to expand its support to an additional 63,000 urban slum children in seven more cities.
Disaster response
Citigroup is committed to a long-term, Cash donations exceeded US$12 million, of sustainable approach to community which US$4.5 million was donated by more development. However, this is than 23,000 Citigroup employees, and this supplemented by an ability to respond amount was matched dollar for dollar by when communities suffer severe setbacks, the Citigroup Foundation. including natural disasters. These donations were distributed in the Our employees volunteer In the event of a catastrophe, the Citigroup following ways: Foundation gives grants to expert relief their time and expertise to agenices and NGOs. These can be relief • The Citigroup Foundation provided grants for a more immediate response, US$1 million in December 2004 to provide the people power or rehabilitation/reconstruction grants the Red Cross as an immediate required to distribute to support longer-term community disaster relief grant rebuilding efforts. supplies, or technical and • The Citigroup Foundation provided But we contribute more than just money. an additional US$2 million in grants operational support Citigroup also makes in-kind donations such to local relief organizations and as office space, equipment and networks. local rebuilding and reconstruction And our employees volunteer their time programs, as recommended by the and expertise to provide the people power Citigroup management teams in the required to distribute supplies, or technical affected countries and operational support, depending on what is needed. • US$4.5 million from employee donations was given to local tsunami Tsunami relief accounts or given directly to NGOs In the aftermath of the South Asia tsunami involved in tsunami relief efforts in December 2004, Citigroup and its employees around the world contributed • The Citigroup Foundation matched cash donations, in-kind donations and the employee donations with another people power. US$4.5 million commitment to the Red Cross, which has been earmarked for long-term rebuilding programs throughout the affected region
Robert Morse (left), CEO, Corporate and Investment Banking, Citigroup Asia Pacific presented the equivalent of US$500,000 to Bank of Indonesia Governor, Burhanuddin Abdullah (right) for the Bank of Indonesia Pooling Fund for Tsunami. The donation was used to support Habitat for Humanity Indonesia’s home building program in Banda Aceh.
Also at the presentation was Jusuf Abiantoro (center), the National Board Chairman for Habitat for Humanity Indonesia. 10 Citigroup also gave non-monetary resources • In Malaysia, 210 staff members to assist with disaster recovery such as volunteered more than 1,000 hours over Recent history of Citigroup’s providing office space and equipment four days to sort and pack supplies for disaster relief and rebuilding for relief organizations, enabling various NGOs involved in disaster relief efforts grants in Asia Pacific payment channels to accept donations, and supporting extensive fund-raising and • Operations and technology teams Philippines typhoons in December 2004 employee volunteering activities. Here are in many different countries worked Relief – US$25,000 to the Philippine just a few examples: around the clock to enable various National Red Cross channels, including ATMs, to accept Bangladesh floods in July 2004 • In India, Citibank’s internet team customer donations Relief – US$15,000 to the American established a payment gateway for the Red Cross Prime Minister’s Relief Fund within 36 • Citigroup provided office space Rebuilding – US$25,000 to the hours of receiving the request and equipment for the UN Joint Bangladesh Rural Advancement Logistics Center in Bangkok, Committee • Citigroup Indonesia employees Colombo and Jakarta volunteered at the Red Cross Tsunami Sri Lanka floods in May 2003 Relief Command Center in Jakarta, and • Citigroup represented the international Relief – US$20,000 to the American also assisted USAID and the American business community when the UN Red Cross Chamber of Commerce to load relief Special Envoy for Tsunami Recovery, Typhoon Pongsona in Guam in supplies and food on to planes bound former President Bill Clinton, met with December 2002 for Aceh and North Sumatra representatives from the private sector Relief – US$25,000 to the during his visit to Aceh in May 2005 American Red Cross • In Thailand, employees volunteered at the British Embassy to provide record South Asia Earthquake Typhoon Chata’an in Guam in management support to embassy staff Citigroup and its employees committed July 2002 who were overwhelmed with inquiries over US$5 million to support relief and Relief – US$25,000 to the rebuilding efforts after the November 2005 American Red Cross • Citigroup’s employees in Sri Lanka South Asia earthquake. This included a Gujarat earthquake in India in initiated a relief action plan to donate Citigroup Foundation grant of US$1 million January 2001 dry rations, medical supplies, clothes and a Citigroup grant of US$3 million to the Rebuilding – US$150,000 to SPARC to and bottled water to centers set up by Red Cross/Red Crescent and the South Asia work with Swayam Shikshan Prayog to the government Earthquake Relief Fund, respectively, as well rebuild Kutchch District; and US$150,000 as employee donation matching. to Friends of Women’s World Banking to work with Navsarjan to rebuild homes for 300 families in Surendranager District
Thailand floods in August 2001 Relief – US$10,000 to the American Red Cross
Taiwan earthquake in September 1999 Relief – US$25,000 to United Way International Rebuilding – US$200,000 to Puli Community Learning Center in 1999-2000
Vietnam floods in 1999 Relief – US$25,000 to the American Red Cross After the South Asia tsunami struck Thailand on December 26, 2004, 12 Citibank Thailand employees volunteered at the British Embassy to help deal with thousands of inquiries from friends and relatives who were concerned about the safety of their loved ones.
As many documents were hand-written, the bi-lingual Citibank volunteers worked patiently, including during evenings and public holidays, to verify the accuracy of the data and to track and update embassy records.
11 Environment
Working towards a sustainable future, The finalists included a company in we invest in a range of initiatives around Southern China that manufactures the world designed to build sustainable and commercializes energy efficiency communities through economic growth that technology; a Beijing-based enterprise that is compatible with the natural environment has developed and patented a successful and with the wellbeing of present and biodegradable replacement for petroleum- future generations. based plastics; and a company that captures and stores surplus energy from local We invest in a range of The Citigroup Foundation gives grants to a factories and sells the lower-cost recycled number of environmental non-government energy to retail consumers. initiatives around the organizations (NGOs) to support sustainable development in developing countries. In Indonesia, partnerships have been world designed to build established with the International Finance sustainable communities Enterprise development Corporation (IFC) and Yayasan Bina A key aspect of this work is funding Usaha Lingkungan (YBUL), a well-known through economic growth enterprise development award programs to NGO working in the area of renewable recognize and reward small and medium- energy and improving energy efficiency. that is compatible with the sized enterprises that are helping to In December 2005, a New Ventures natural environment transform emerging economies while Indonesia led seminar was held in Jakarta protecting the environment and supporting to introduce new investors and sector communities and their natural resources. stakeholders to the current trends and market opportunities available. Officials In 2005, the New Ventures Asia Pacific from organizations such as ForesTrade initiative, to which Citigroup has committed Indonesia, Bank Syariah Mandiri, WWF US$700,000 over two years, started in Indonesia, and Bukit Organik delivered presentations and chaired discussion China and Indonesia. New Ventures is a groups. New Ventures Indonesia program launched by the World Resources representatives also outlined processes Institute to support environmentally and and strategies to promote sustainable socially responsible entrepreneurs as they enterprise in Indonesia. start or scale up their operations.
The coming year will see the continuation The entrepreneurs supported by New and consolidation of these programs in Ventures include early to mid-stage small China and Indonesia. and medium environmental enterprises in fast-growth sectors including organic In late 2005, we also gave a US$75,000 foods and fibres, renewable energy, clean grant to Conservation International to technology, biodiversity and ecotourism. build ecotourism networks that will help to conserve biodiversity in Southwest China. In 2005, New Ventures China received applications from 88 companies. After a comprehensive assessment of each applicant’s business practices, management team, and environmental and social impact,
One of the speakers at the New Venture China 10 finalists were selected and these 10 Investors Forum was Su Bo, Director General, businesses had the opportunity to present Department of Small and Medium-sized Enterprises, to potential investors at the 2005 New National Development and Reform Commission, People’s Republic of China. The forum helped new Ventures Investor Forum. investors in China learn more about the sustainable enterprise sector and related business opportunities.
12 Volunteering – the power of our people
Our contributions extend way beyond And when employees give 50 or more writing cheques. Day in, day out, Citigroup hours of their time to an eligible non- Asia Pacific employees volunteer their time profit organization in one year, Citigroup and talent to work with hundreds of non- contributes US$500 to that organization. profit organizations in their communities. Throughout Asia Pacific, Citigroup staff Day in, day out, Citigroup In recognition of their generosity and to regularly donate their time, knowledge and support their community work, Citigroup’s expertise to help non-profit organizations in Asia Pacific employees Global Volunteer Program gives employees their communities, by organizing and taking a paid day off every year to support an part in educational programs, supplying volunteer their time organization of their choice. In Asia Pacific manpower and logistical support in disaster and talent to work with alone, where we have 50,000 employees, areas, building homes, and supporting that’s potentially 137 years’ worth of time fundraising drives. hundreds of non-profit every year! organizations in their communities
Roger Collantes, Citibank’s regional director for Habitat for Humanity building projects are extremely Frank Slevin (above), Citigroup Chief Operating training and development has volunteered more well supported by Citibank Korea employees and one Officer, Asia Pacific Investment Banking, Quek than 200 hours to the development and delivery of the most enthusiastic and dedicated volunteers Kwang Meng, Asia Pacific Real Estate Investment of the Citibank-AIM MFI Management Training is Planning and Communications Team Head, Bo In Head and Kevin Rasmussan, Manager and Foreign Program. Launched in 2005, the program provides Choi. She has participated in various builds since Exchange Counsellor, Investment together took high quality train-the-trainer programs for 2003 and says being involved means a lot to her on a a great plunge in December 2005 when they sky- representatives from microfinance institutions personal and professional level. jumped off the 233 meter high Macau Tower. The around the region. jump was part of a fun challenge that raised over “I really enjoy participating in the Habitat for US$150,000 for local Hong Kong charity, Operation “I am honored and delighted to be actively Humanity program because we get to see the Santa Claus. Speaking about the fundraising involved in this program because in terms of immediate difference that we make in the campaign, Frank was full of praise for the Citigroup results, it makes a telling difference to the community. As well, because I promote volunteer organizing team: lives of many,” says Collantes. activities through my work in the public affairs team, being involved helps me better communicate the “When we looked at the breadth of charities in “Our certified trainers will go on to train more than benefits and value of being an active volunteer.” Operation Santa Claus and the causes that were being 5,000 microfinance managers in their respective supported, we felt we ought to be supporting it.” countries. This will have the multiplier effect of enhancing the lives of millions of low-income “The staff were fabulous. The campaign was households served by their branch networks.” put together at relatively short notice and over US$25,000 was pledged by staff on the first day.”
13 Australia
Community focus Community highlights Today, Citigroup Australia’s community Finance First: teaching the basics of Citigroup snapshot initiatives operate at three levels: good money management to primary community-business partnerships funded school children and their parents History by the Citigroup Foundation, employee Citigroup established our presence in fundraising, and staff volunteering. Recognising that most young Australians Australia in the early 1970s. In 1984, the securities and investment banking have not been exposed to financial business commenced operations. Community-business partnerships education at school, Citigroup has joined In 1985, we became one of the first Citigroup Australia supports programs that forces with YWCA NSW (New South Wales) international banks to be granted an focus on improving the financial literacy and the NSW Department of Education and Australian banking licence with the skills of Australians, building stronger Training to develop a financial education deregulation of the financial services communities by improving leadership program for primary school children and industry. skills, and supporting young people in their their parents. transition from school to work. Businesses Finance First is built around the concept Citigroup Australia’s operations In 2005, the Citigroup Foundation funded that the earlier children are taught a encompass an innovative consumer two community-business partnerships in healthy approach to personal finance, bank, a premier global corporate and investment bank, a leading wealth Australia with grants worth A$400,000 the better they will manage their money advisors business, investment research (US$295,000): Finance First, a financial later in life. as well as the charge card, Diners education program for primary school Club Australia. children; and a leadership program for Finance First supports the mathematics indigenous Australians. and social studies curriculum in each state, Presence and has a strong emphasis on literacy and Sydney, Melbourne, Adelaide, Perth and Employee fundraising numeracy skills. It was the first curriculum- Brisbane Citigroup Australia runs a Workplace Giving based financial education program offered Program that enables employees to donate in Australian schools and it is the only Number of employees part of their pre-tax salary to charity. The financial education program in Australia More than 2,500 program is an employee-driven initiative to focus on the learning needs of primary with the charities selected and supported school children. directly by employees. Launched in 2001, the program provides employees and Funded by a A$1.1 million (US$813,000) charities with a cost effective and reliable multi-year grant from the Citigroup method of fundraising. Foundation, Finance First was developed with the help of teachers. The program In 2005, employees donated A$175,000 is supported by workshops that provide (US$130,000) to 14 charities, and teachers with a grounding in financial contributed to the South Asia tsunami concepts and demonstrate ways that disaster appeal by donating A$70,000 teachers can include financial education (US$51,000) to the Australian Red Cross. into their classrooms. In 2005, 1,800 teachers were trained to deliver the Staff volunteering program and a further 1,000 teachers Two hundred and seventy-five Citigroup will be trained throughout 2006. Australia employees also volunteered their time in 2005 to support a number of charitable initiatives including the Australian Red Cross winter blood drive, the Starlight Children’s Foundation’s annual star appeal, the Cancer Council’s Daffodil Day and the Brotherhood of St Laurence’s before-school breakfast program.
14 Finance First was the first History of giving in 2001 to support the Ardoch Youth • Citigroup was one of the first Foundation, an organisation that curriculum-based financial companies in Australia to join the supports primary school students in a Australian Charities Fund’s Workplace disadvantaged community of Melbourne education program offered Giving Program, and since 2001, our to make a successful transition from in Australian schools and employees have raised more than primary school to high school A$600,000 (US$440,000) for it is the only financial 14 charitable organisations • The Citigroup Foundation has supported the Australian Indigenous Leadership education program in • The Citigroup Foundation provided Program since 2001, providing nine Australia to focus on the grants totaling A$580,405 certificate-level courses and a diploma (US$430,000) in 1999 and 2000 to course in leadership to 237 young learning needs of primary support the establishment of a Learning indigenous leaders Links centre in a disadvantaged area school children of Western Sydney for children with • Citigroup Australia is an ongoing learning difficulties supporter of the Victor Chang Cardiac Research Institute, one of the world’s • The Citigroup Foundation provided leading heart disease research facilities a grant of A$43,000 (US$22,000)
Money management learning at home and at school
David Rodger, Principal of Shalvey Public School on the outskirts of Sydney, has seen first hand how a community-based financial education program like Finance First can make a difference to families. Shalvey Public School, situated in a low socio-economic area with an ethnically diverse population, was one of the first schools involved in the Finance First program.
“Some children at our school come from families with low incomes who have difficulty saving. At the canteen they often spend money and don’t think twice about their purchase. We’ve seen positive results from the Finance First program. Now we hear from the canteen that students are thinking more carefully about their purchases and saving money.
“The children are very excited about their parents coming to finance lessons. And parents report that children come home and discuss what they’ve learnt. Through their children, parents can often open up and share concerns about their own financial situation. This has started real dialogue within the family where talking about money is often considered taboo.”
15 Bangladesh
Community focus in 2005 as part of a partnership between the Citigroup snapshot Building communities and entrepreneurs Citigroup Foundation and the United Nations Citigroup Bangladesh is a long-term Capital Development Fund.
History supporter of microfinance programs Citigroup’s presence in Bangladesh and the Citigroup Foundation has Winners were awarded in four categories: dates back to 1987 with the opening of given significant grants to progressive Best Microfinance Institution of the Year, a representative office. We opened our microfinance institutions such as Grameen Most Innovative Business of the Year, Best first full-service branch in 1995. Trust and Shakti Foundation. In 2005, we Woman Microentrepreneur of the Year and broadened our support by launching the Best Microentrepreneur of the Year. Businesses first ever Global Microentrepreneurship Citigroup Bangladesh offers a Awards (GMA) program in Bangladesh. Shamima Khatun, the winner of the GMA comprehensive range of corporate Bangladesh Most Innovative Business of the and investment banking products Educating the Next Generation Year 2005, also represented Bangladesh’s and services to corporate clients, Citigroup is an ongoing supporter of microentrepreneurs at the culminating event governments and financial institutions. of the International Year of Microcredit 2005 Citigroup also provides remittance the World Literature Center’s book-reading services to the expatriate community program. In 2005, the Citigroup Foundation at the United Nations headquarters in New largely in the Middle East. provided a grant of approximately York in November 2005. BDT 1.67 million (US$25,000) to support Presence the program. History of giving Dhaka and Chittagong • Citigroup gave grants totaling BDT At a local level, Citigroup Bangladesh’s 24 million (US$400,000) in 2004 Number of employees contribution to the Liberation War to establish the country’s first Asian More than 100 Museum’s countrywide book reading University for Women in Chittagong. campaign allowed them to reach 146 The institution’s mission is to further schools in eight districts. In the near future, economic and social development we intend to introduce the program to 56 by preparing women for leadership districts nationwide. roles in political, business, social and cultural arenas Fundraising & disaster response Every year, Citigroup Bangladesh joins • Citigroup has supported well-known its clients and leading daily newspaper, local NGO, the Shakti Foundation Prothom Alo, to raise funds for different since 1999. Grants totaling BDT 8.74 charities. Under this special program, million (US$168,000) have funded Citibank makes a percentage contribution an infrastructure lending program Citigroup Bangladesh’s to charity from every international payment which has enabled many women or reimbursement processed by the bank entrepreneurs to develop their major community for corporate banking clients. business operations activities in 2005 Following the tsunami in December 2004, • Citigroup contributed to the have been focused on all employees from Citigroup Bangladesh development of the first floating contributed one day’s pay to support the hospital in Bangladesh with a grant of building communities survivors of the disaster in Sri Lanka. This BDT 1.44 million (US$25,000) in 2002. and entrepreneurs, youth amount was matched dollar for dollar by The mobile hospital provides primary the Citigroup Foundation. healthcare and disease prevention education, and business education to remote island residents Community highlights and employee fundraising Global Microentrepreneurship Awards: • To help rehabilitate victims of acid for disaster response recognizing and rewarding leadership attacks and violence, Citigroup gave and entrepreneurial skills among a BDT 868,000 (US$15,000) grant in microfinance clients 2003 to the Acid Survivors Foundation The first-ever Global Microentrepreneurship to provide support and training Awards program was launched in Bangladesh programs for the victims
16 Bangladesh’s first Global small business entrepreneurs coming from Bangladesh Most Innovative Business of the Microentrepreneurship Awards the remote villages and who have with their Year 2005, said, “Before last November, I were a resounding success strong determination, innovation and hard had never even been to Dhaka. From this work, overcome the barriers to poverty”, said experience, I have learned that if I deal in Chief Guest, M. Saifur Rahman, MP, Minister M. Saifur Rahman, MP, Minister for Finance business with integrity, trust, good planning for Finance and Planning presenting and Planning, Government of the People’s and proper management of credit, then the cheque to Shamima Khatun. The Republic of Bangladesh. success must come to me and this will also others are: (from right) Dr Fakhruddin ensure employment for others.’’ Ahmed, Chairperson, Advisory Council, Shamima Khatun, the winner of the GMA GMA programme and Managing Director, Palli Karma-Sahayak Foundation (PKSF), Economist, Dr Wahiduddin Mahmud; Mamun Rashid, Citigroup Country Officer, Bangladesh and Jeremy Amias, Managing Director, Citigroup Global Markets Asia and Head, Fixed Income, Asia Pacific.
“Despite having small loans from different NGOs, today I am extremely overwhelmed to see the outstanding achievement of the
Brunei
Community focus Citigroup snapshot Fundraising and Volunteering In 2005, Citigroup Brunei employees History participated in a Charity Walkathon Established November 1972 organized by the Brunei Association of Banks to raise funds for tsunami Businesses relief programs. More than B$50,000 Corporate and Investment Banking (US$30,000) was raised and donated to a tsunami relief fund managed by the Presence Ministry of Culture, Youth & Sports. Bandar Seri Begawan and Kuala Belait An environmental program organized Project AWARE Number of employees by the Brunei Divers Association was More than 60 enthusiastically supported by Citibank Last October, Citibank Brunei showed Brunei in October 2005. Credit Risk we could make a difference to the Manager, Kim Mee, was one of the local environment when we sponsored volunteers involved in running project project AWARE, a beach clean-up day. This was a first-of-its-kind program in AWARE (Aquatic World Awareness, Brunei and was a great success as divers Responsibility and Education). and volunteers on the beach worked together to clean up the reef.
17 china
Community focus The Citigroup-UNICEF/NCET Sister Citigroup snapshot Citigroup China’s community activities Schools Project will improve the quality focus on financial education, educating the of basic education for around 10,000 History next generation, and building communities children in Western China through on-line Citigroup has been in China for more and entrepreneurs, especially through communication and learning. After the than a century, with the first Citigroup microfinance programs. project’s launch in December 2004, eight office opening in Shanghai in May 1902. schools in Shanghai, Guangzhou, and Financial education Anhui were selected in 2005 to join “hand Businesses Citigroup China’s financial education in hand” with 15 other poorer schools Citigroup China offers a broad range programs are designed to support the from Guangxi and Chongqing in Western of financial services to both corporate China. The project enables the sharing of and consumer clients. Key businesses development of China’s financial talent quality teaching resources, and promotes include corporate and investment pool, financial infrastructure, and corporate banking, consumer banking, Citicorp governance standards. cooperation between teachers and students Software and Technology Services, as well as between students and students and a regional training center under With the launch of the Citigroup Banking through face-to-face training and internet- the banner of Citigroup Management Course at the Fudan University School based distance collaborative learning. Consulting Company. of Management in 2001, Citigroup has pioneered banking courses in China. Since The Citigroup China-US Friendship Library Presence then, around 100 students annually have is an English library project that builds on Six corporate and investment bank attended this course and it has become the success of the earlier Citigroup English branches (Shanghai, Beijing, Guangzhou, an important part of the Fudan School Teachers training program in Southwestern Shenzhen, Tianjin, Chengdu); one of Management’s curriculum. Every year, China. The English library project gives representative office in Xiamen; and teachers easy access to books and teaching 12 consumer outlets. members of Citigroup China’s senior management team devote time to teaching tools while helping students to improve Number of employees the course and sharing their knowledge their study of English. In 2005, libraries More than 2,300 with the students. were set up in six of the poorest high schools in Guizhou, benefiting more than The Citigroup Financial IT Education 15,700 students. Program, established in 2005, involves 20 universities in China and is helping Building communities and entrepreneurs to promote local financial IT talent and Citigroup is one of the leading corporate support the development of China’s finance supporters of microfinance and sector infrastructure. microenterprise development in China.
Citigroup China’s Officially opened in May 2005, the The Citigroup Microfinance Training Citigroup-Renmin University Corporate Center aims to support the sustainable community activities Governance Center, housed at the Asia development of the Chinese microfinance Research Center is the first university- sector by providing systematic and focus on financial based corporate governance program of practical training courses to microfinance education, educating its kind in China. It provides an ongoing practitioners in China. So far, 296 source of information and leadership on managers, including trainers, have the next generation, financial services corporate governance been trained since the Center opened in issues. Renmin has also set up a Corporate August 2004. and building communities Governance Library that is open to faculty, and entrepreneurs, students and interested parties as an Citigroup also supports the China ongoing resource. Association of Microfinance in its work to especially through unify Chinese microfinance institutions by Educating the next generation setting up industry standards under the microfinance programs Citigroup China’s youth education programs guidance of China’s central bank. More than focus on improving the quality of basic 95 qualified microfinance institutions have education in China and helping to reduce already become members. urban-rural disparities.
18 Citigroup-Fudan Management Research Community highlights A total of 317 applications were received Center in 2001-2004. The Center was Citigroup Financial IT Education Program from clients and loan officers from 81 built with hi-tech equipment that can This program operates through three main microfinance institutions around China. be used for distance education. In channels: the awarding of scholarships After several rounds of screening and field addition, the grant covered teaching and fellowships to recognize and reward trip interviews, a total of 25 people were materials, finance-related periodicals, outstanding students and teachers; selected as winners across nine categories: and the appointment of Citigroup mainframe training to meet the immediate rural agriculture, rural animal husbandry, chair professors needs for specialized talent in the finance rural non-agricultural, urban trade, urban sector in China; and a software application processing, urban services, best urban • Citigroup Foundation grant of competition to promote and facilitate the loan officer, best rural loan officer, and RMB860,000 (US$100,000) to Shantou use of IT in the financial industry. a special prize for the most innovative University for the establishment of a microentrepreneur. To help the process 2002-2005 program in Negotiation and In 2005, 80 students and 20 teachers run smoothly, over 100 students from 11 Dispute Resolution based on Harvard received scholarships or fellowships under major universities in Beijing, as well as a Law School’s very successful Program the program. A total of 106 students number of Chinese students from top US of Negotiation attended the mainframe training program, universities, participated in the program. 40 of whom have taken up a one-month • Citigroup Foundation grant of software developing practice internship. The final winners were selected by an RMB750,000 (US$87,000) to the Citigroup technology experts delivered Awards Selection Committee made up of Chinese People’s Association for lectures in Huazhong, Fudan and Beijing several well-respected figures in Chinese Friendship with Foreign Countries University on the trends of mainframe microcredit. The China GMA program was from 2003-2004 to provide training application in the finance industry, helped also supported by an Advisory Council, to provincial leaders and business write case studies and examinations and whose members include senior government managers on the market economy after assisted in the coordination between the officials from China’s central bank, the China joined the WTO 20 universities. Eighty thousand students Ministry of Commerce, one of the Chinese nationwide participated in the first policy banks, renowned economists, and • Citigroup Foundation grant of software competition program, with 100 senior representatives from NGOs. RMB430,000 (US$75,000) to the students reaching the finals. The judging Chinese People’s Association for committee was made up of representatives History of giving Friendship with Foreign Countries from from China’s universities, local education • Citigroup Foundation grant of 2002-2005 to fund training by Beijing ministry and Citigroup. RMB4,500,000 (US$520,000) to Fudan Normal University for 120 English University, School Management for the teachers from Guizhou, Guangxi, China’s Global Microentrepreneurship Yunnan and Sichuan provinces Awards In 2005, Citigroup China launched its Global Financial IT Education Microentrepreneurship Awards (GMA) to raise awareness of microentrepreneurs and Recognising the important role of their financial needs, and to demonstrate Information Technology (IT) in the the significant economic contribution financial sector, Richard Stanley that they make to their families and local (second from left), CEO, Citigroup communities. In China, GMA also highlighted China launched the Financial IT Education Program in March the importance of building inclusive 2005. The program sponsors a financial sectors in an effort to address the number of initiatives promoting IT development imbalances that China faces excellence in China including study as it moves toward building a successfully scholarships, mainframe training integrated society. and a software development competition.
19 20
Guam
Community focus Rural Development Housing Citigroup snapshot Disaster relief Our mortgage has been one of our flagship In response to the South Asia tsunami, products throughout Citibank’s 35 years on History Hurricane Katrina and the South Asia Guam. Citibank was recognized by the US Citigroup was established in earthquake, Citigroup employees organized Department of Agriculture’s (USDA) Rural December 1969 a number of staff yard sales to raise money Development Housing Program for its role for relief efforts, and donated a total of in making home loans available to those Businesses US$20,000 to the American Red Cross over who might otherwise be unable to access Consumer banking, insurance and the course of the year. Over 500 hours a mortgage. investment products and services of volunteer time were also donated by employees to various relief activities. Under this program, more than 700 Guam Presence households have become first-time home Hagatna Financial education buyers over the past five years. Citibank has Number of employees Twice a year, the American Bankers had a one-third share of the total lending 100 Association Education Foundation guaranteed by the USDA during this period, designates a day when bankers volunteer helping make the dream of home ownership their time in their local communities to a reality for more than 300 of those 700 increase awareness of the importance of families. Citibank Guam was the only financial education. On April 26, 2005, financial institution in the Western Pacific National Teach Children to Save Day saw Region to receive federal recognition for its 21 Citibank Guam volunteers become participation in this program. teachers to more than 500 students in five elementary schools throughout the island. History of giving Among all the banks on the island, Citibank • The Citigroup Foundation donated a took the lead by sending the largest number total of US$350,000 to the University of volunteers. of Guam’s Citibank Women in Business Program that, from 1998 to 2004, On October 20, 2005, Get Smart About assisted more than 1,000 women Credit Day focused on high school students to ensure they properly understood credit • In 1999, the Citigroup Foundation prior to their graduation. Fourteen Citibank granted US$50,000 for the Excellence employees volunteered to teach the basics in Teaching Foundation for the Citibank of credit to more than 150 seniors at John F. Innovate-to-Educate Challenge Kennedy and Simon Sanchez High Schools.
Guam’s National Save Day
Among the schools visited by Citibank Guam’s volunteers was Ordot Chalan Pago Elementary School and one of the teachers, Bobbie Salas said: "The National Teach Children To Save Day is a great, informative, educational program that gives the children an in-class experience on the concept of saving. As teachers, we take this opportunity and integrate it with other Math lessons.”
22 Hong Kong
Community focus 7. Citibank University Banking Course Citigroup snapshot Citigroup’s community support in Hong 8. Making $ense of Money Kong is focused on two main areas: financial 9. Personal Economics Program History education and employee volunteering. 10. RTHK Student Quiz Show Citigroup opened our first office in Hong 11. The Adventures of Agent Penny Kong in 1902. We are now one of the Financial education 12. The Next Generation of Elite Personal largest foreign financial institutions in In 2005 alone, Citigroup Hong Kong and the Finance Program Hong Kong. Citigroup Foundation contributed around HK$8,000,000 (US$1 million) to financial Personal Economics Program Businesses education in Hong Kong with grants made This six-week financial literacy program is Citigroup provides a full range of organized by Junior Achievement Hong financial services to both corporate and to partnering organizations including the Kong and sponsored by the Citigroup consumer clients under the three key HOPE worldwide, Junior Achievement HK, businesses of corporate and investment the Learning Society, and Tung Wah Group Foundation. In 2005, under the guidance banking, consumer banking and private of Hospitals. of 80 Citigroup volunteers, 2,000 Form 3-4 banking. The Asia Pacific headquarters students assessed their personal skills and for corporate and investment banking is Employees volunteering and fundraising interests, explored career options, learned also located in Hong Kong. In 2005, we recorded over 650 Citigroup job-hunting skills, developed budgets, employee volunteer activities, totalling and learned personal and family financial Presence more than 4,100 voluntary hours. Our management skills. Our volunteers inspired Key districts including Central, Hung volunteers helped a large number of non- these young people to be financially and Hom and Quarry Bay profit organizations such as Caritas HK, socially responsible by sharing their real-life Fu Hong Society, HOPE worldwide, Junior experiences. Number of employees More than 4,000 Achievement HK, and the Tung Wah Group of Hospitals. Citigroup Hong Kong was Citigroup Stock Challenge also one of the major corporate donors to The Stock Challenge is an annual Citigroup the Community Chest of Hong Kong and Foundation-sponsored program, jointly Operation Santa Claus. organized by Citigroup Hong Kong and the Learning Society. In 2005, more than Community highlights 300 Form 5-6 students from 11 secondary The Hong Kong Citigroup Financial schools participated in this two-day stock Education Series simulation program to learn the basics of equities and stock investment. The Financial Education Series is a company-wide effort to support and During this, students were guided implement programs that help provide through carefully planned activities which individuals, families and communities introduced financial concepts, built their in Hong Kong with the tools they need critical thinking, expanded their reading to make sound financial decisions. and interpretation skills, developed their The series includes 12 programs: time management skills and lifted their understanding of group dynamics. 1. Building Lifelong Wealth Project 2. Business and Economic Policy Seminar Over 30 Citigroup volunteers assisted Series the trainers to ensure the program ran 3. Citigroup Global Young Fellowship smoothly, and we received valuable support Program from the Hong Kong Securities and Futures 4. Citigroup International Case Commission, Education and Manpower Competition Bureau of the HKSAR, and Hong Kong 5. Citigroup Stock Challenge Exchanges and Clearing Limited. 6. Citigroup Success Fund
23 In 2005 alone, Citigroup Citibank University Banking Course donors of the Community Chest of Funded by the Citigroup Foundation, this Hong Kong, which is one of the biggest, Hong Kong and the course is jointly organized by Citibank independent non-profit organizations and the University of Hong Kong. It is in Hong Kong Citigroup Foundation the first structured practical banking contributed around course delivered by experienced bankers • Since 2001, Citigroup Hong Kong has in a university in Hong Kong. The course been supporting the Tung Wah Group of HK$8,000,000 (US$1 is designed to provide students with a Hospitals (TWGH) in various programs. sound understanding of modern banking TWGH has a history of 135 years and million) to financial operations and essential banking practices. is the oldest and one of the largest In addition, the students will gain a charitable organisations in Hong Kong. education in Hong Kong better understanding of the importance Several successful community programs of managing personal finances so that have been arranged, providing they can become financially responsible volunteer opportunities for Citigroup individuals. As volunteer lecturers, Hong Kong employees Citigroup senior executives from a range of banking disciplines gave students the • In 2003, the Citigroup Community opportunity to learn about banking from a Club announced the launch of the variety of perspectives. Citigroup Volunteer Team to encourage employee participation in voluntary and History of giving social services. In the last two years, • The Citigroup Foundation and Citigroup volunteering has increased over Hong Kong sponsored HOPE worldwide 83% and volunteer hours have in Hong Kong to establish a permanent increased by 105% HOPE for Kids Centre at Shamshuipo in 2000 • Citigroup Hong Kong has received recognition for its community giving • Since 2000, over 50,000 students from from Social Welfare Department of 500 schools and universities in Hong Hong Kong SAR, the Hong Kong Council Kong have participated in Citigroup’s of Social Services, the Community financial education programs Chest of Hong Kong, and the Tung Wah Group of Hospitals • For many years, Citigroup Hong Kong has been among the top corporate
Citigroup Stock Challenge
On the second day of the 2005 Citigroup Stock Challenge, students like this group from Heep Yunn School formed their own ‘brokerage’ houses with uniforms and brands before starting to invest in a mock stock market to test the theories and decision-making skills that they had learned. Ivy Lai, Head of Investor Education and Communications, Hong Kong Securities and Futures Commission, said, “I was really impressed with the level of enthusiasm the students have towards the Stock Challenge. Youth financial education is important and I would encourage businesses to organize more financial literacy programs for students to help prepare them to invest wisely.”
24 India
Community focus Foundation to support relief efforts Citigroup snapshot Disaster relief following the massive earthquake that 2005 saw a number of natural disasters struck Jammu and Kashmir, Pakistan. The History that seriously affected many communities Foundation also announced it would match Citigroup opened our first office in India in India. Given this, disaster relief and donations made by Citigroup employees. in 1902. Since then we have become one rehabilitation initiatives were a high priority The Foundation is supporting a number of of India’s most diverse and recognized for Citigroup India. relief agencies like the Red Crescent and financial service providers. Red Cross societies. A donation account for Immediately after the December 2004 employee and customer donations was also Businesses tsunami that devastated the southern part opened in India. Our operations encompass a premier corporate and investment bank and a of India, and the Andaman and Nicobar Volunteer events well-established consumer business. islands, the Prime Minister’s Office (PMO) We also provide banking services to the asked Citigroup India to create an online A blood donation camp organized with the international Indian community around payment gateway to allow people from Lions Club of Juhu and Bombay Hospital the world. around the world to make donations to at Citigroup Center in Mumbai received the PM’s Relief Fund Account. In response, an overwhelming response from Citigroup Presence our Internet team launched the payment volunteers. The anticipated 80-donor 39 Citibank branches across 27 cities gateway on the PMO website within target was exceeded with 103 employees and 317 CitiFinancial branches across 162 36 hours. donating blood. cities/towns.
Citigroup India also launched a Tsunami Organized by the Concern India Foundation Number of employees Relief Fund Account, to which all employees and involving many Citigroup employee More than 15,000 donated a day’s pay. The amount collected volunteers, Khel Khel Main is an annual was close to US$390,000. Immediate sports day for underprivileged children. relief and rebuilding efforts in tsunami- Last year, the events in Chennai and affected areas were also supported by Mumbai were fun and memorable occasions grants totalling US$450,000 from the for the more than 400 attending children Citigroup Foundation. from Concern India-sponsored schools.
Relief items including clothing, blankets, In April, more than 30 volunteers organized dry foods, medicines and other basic a fun day for children from Akanksha supplies were collected through a Citigroup Foundation (one of our NGO partners). Tsunami Relief Supplies Drive conducted Sixty-two children took part in a range of in 18 locations nationwide. The distribution interactive sessions and games. of supplies was coordinated by various local NGOs including Citigroup’s long-term The Global Decision Management team NGO partners, Working Women’s Forum, in Bangalore ran a ‘working bee session’ Akanksha Foundation and Sasha. in July to repair the walls and windows of a children’s home ’Abhaya Ashram’. It was In July, a Mumbai Flood Relief account not all manual-work for the team as they was opened to help communities impacted also spent a few hours talking and playing by flooding in Maharashtra and Mumbai. games with the children. Employees and customers were invited Community highlights to make monetary contributions, or Citigroup Micro Entrepreneur Award in-kind donations at the `Citigroup 2005: recognizing the achievements of Center’ in Mumbai. The collected items individual micro entrepreneurs were sent to Sahyog, an NGO working in the Given the great success of the first Citigroup affected areas. Micro Entrepreneur Award in 2004, the 2005 program was extended to include rural districts And in October, an immediate commitment and urban areas, with Citigroup Foundation of US$1 million was made by the Citigroup grant support of US$200,000. This expansion
25 generated a dramatic rise in applications Women’s World Banking (FWWB) and sector, including the Society for – close to 200% more than in 2004. Coady International Institute, a Canadian Promotion of Area Resource Center organization specializing in sustainable (SPARC), FWWB, Working Women’s The Citigroup Micro Entrepreneur Award 2005 community development. Forum (WWF), Sasha and Saahasee. was part of the Global Microentrepreneur Awards (GMA) program launched by the United ISMW was made possible with core funding • US$260,000 towards Citigroup Micro Nations (UN) in more than 30 countries to of US$3.5 million, spread over five years Entrepreneur Award programme in mark the International Year of Microcredit from the Citigroup Foundation in 2004. The 2004 and 2005. 2005. The United Nations Development Fund Citigroup Centre for Financial Literacy will (UNDP), the UN’s development network, provide training for micro finance practitioners • A total of US$3,608,000 to financial partnered Citigroup India for the 2005 award and members and leaders of grassroots education initiatives which it supports in program. The award process was implemented microfinance institutions in financial education, association with ISMW and SEWA Bank. by Partners in Change, a Delhi-based NGO. needs assessment, curriculum development, The 2005 winners from four regions of the campaign execution and evaluation. • A total of US$1,428,000 to support country were recognized at a special ceremony primary education for underprivileged in early 2006. History of giving children, including programs run by Citigroup India’s community support Pratham India, Akshara Foundation and Citigroup Centre for Financial initiatives fall into three areas: capacity Akanksha Foundation. Literacy: training the next generation building of the microfinance sector, financial of microfinance professionals and education, and primary education for • US$750,000 toward disaster relief practitioners underprivileged children. and rehabilitation efforts following the In October, Citigroup CEO, Chuck Prince Gujarat earthquake in 2001 and the attended a dedication ceremony to open the Since 1997, Citigroup has given: South Asia tsunami in 2004. Partners Citigroup Centre for Financial Literacy at the in these efforts include Swayam Indian School of Microfinance for Women • A total of US$2,014,000 towards Shikshan Prayog, FWWB, Plan India, (ISMW). The school is a partnership between capacity building support to a number Pratham India, United Way Mumbai, microfinance pioneers SEWA Bank, Friends of of NGO partners in the microfinance Indian Red Cross Society – Chennai and Mumbai, and WWF.
Tsunami Disaster Relief
Jaya Arunachalam, President of Working the vulnerable situations. But the magnitude Women’s Forum (WWF), seen here at a of the tsunami disaster required relief and relief distribution drive organised by the rehabilitation measures of an order rarely Forum, said: seen in recent times. What was crucial at that moment was timely support and a helping “Working Women’s Forum is not just an hand, and it is here that our association with organisation in itself, it is a movement. It Citigroup came in as a major help. Citigroup’s is commendable to see the WWF members, prompt response to relief efforts helped who belong to poor families, accomplish so us reach out to the affected immediately. much in helping their communities achieve And today, with support from Citigroup economic and social independence. There Foundation, we are rebuilding the lives of have been crisis situations and emergencies those affected by the disaster.” in the past to which we have immediately responded by helping the affected overcome
26 indonesia
Community focus Democratic Institute and Pacivis to hold Citigroup snapshot All Citigroup Indonesia community an NGO Management Certificate Program programs are grouped under Citibank Peka, designed to help raise the levels of History formed from the Bahasa Indonesian words expertise in the local NGO sector. Course Citigroup has had a presence in PEduli, meaning “caring” and berKArya, focus areas include financial management, Indonesia since 1968. meaning “to do”. network building, and fundraising and volunteer mechanisms. Businesses The active involvement of Citigroup Citigroup Indonesia provides corporate employees as volunteers is an important Indonesia’s Global Microentrepreneurship and investment banking, consumer element of Citibank Peka. More than 700 Awards program is sponsored by Citigroup banking and private banking services Citigroup Indonesia employees volunteered and UNDP and organized by the Microfinance and products to corporate and consumer Centre, and the University of Indonesia, clients. for Citibank Peka programs in 2005. Faculty of Economics. The awards recognize Presence Education microfinance institutions that add value Jakarta, Bandung, Surabaya, Semarang, Creating Learning Communities for Children to entrepreneurs’ businesses and offer Medan and Denpasar is a program run with UNICEF that aims opportunities for the involvement of women, to improve basic education in primary young people and the disabled. Over 400 Number of employees schools and develop a transparent and submissions were received in 2005, and More than 3,000 effective education management system nine winners were selected and announced to administer the funding of schools. in December 2005. Students’ parents and the wider community are involved to support a better quality Disaster relief of education. The program is targeted at Citibank Peka’s Tsunami Relief and 20,000 children, 400 community leaders Reconstruction Program provided support and 650 teachers. to Indonesia’s Aceh and Nias regions in 2005 and included a wide range of In addition, the Citigroup Success Fund fundraising and volunteer activities, as well (CSF) initiative, a collaboration between as grants and in-kind donations. Citibank Peka and Hope Foundation, encourages innovation in education by Community highlights making grants to high school teachers that Creating Learning Communities for enable them to implement creative learning Children (CLCC) activities. For more information about the The CLCC program aims to raise basic levels 2005 program please read the CSF case of education in primary schools. Other study on page 9. goals include promoting: • Transparency and effective The Citigroup University Banking Course management in schools together with the Faculty of Economics at • Better utilization of school resources the University of Indonesia (FEUI) offers • Greater involvement of parents and the an undergraduate three-credit banking community in education management course. Fourteen Citigroup senior staff volunteer to lecture for the Citibank Peka also works with the Kartika course. The Citigroup University Banking Soekarno Foundation and provided Scholarship funds scholarships for IDR500,000,000 (US$50,000) in 2004 to students accepted to the FEUI graduate run the CLCC program in Gianyar, Bali. program. Since 2004, the program has provided 23 scholarships. In 2005, 50 Launched in August 2004, Citibank Peka students attended the lectures with 13 provides US$346,000 to run the program receiving scholarships. over three years with the United Nations Childrens Fund (UNICEF) in four regions. Community development for the poor More than 80 primary schools in Sukabumi, Citibank Peka works with the National Indramayu, Surakarta, and Tulungagung
27 are participating and up to 20,000 children, March 2005, carrying out administrative Scholarship IDR1,635,000,000 400 community leaders, and 650 teachers duties, manning phone lines, updating the (US$163,500) are expected to be involved for the duration Indonesian Red Cross website, and packing • NGO Management Certificate Program of the program. supplies and donations. Another 25 staff IDR3,940,000,000 (US$394,000) worked with the American Chamber of • Global Microentrepreneurship Awards Close to 300 Citigroup Indonesia employees Commerce and USAID to pack and load (US$20,000) in Jakarta, Bandung, Surabaya, and relief supplies bound for tsunami victims • Tsunami Relief and Reconstruction Semarang are actively involved as in Banda Aceh. IDR23,050,000,000 (US$2,305,000) volunteer mentors in the Adopt-A- School component of the program. They In addition, Citigroup provided office Between 1998 and 2003, IDR9,050,000,000 participate in activities such as teaching and computing equipment to the United (US$905,000) was used to support: English, storytelling, and working with Nations Joint Logistics Center Tsunami teachers, school board members and Operation of the UN World Food Program • Nanda Dian Nusantara, Bintang community leaders. office in Jakarta. Citigroup also represented Pancasila and Usaha Mulia Foundations Indonesia’s international business to provide education for street children; Citibank Peka Tsunami Relief and community at a meeting coordinated • Pustaka Kelana Foundation to manage a Reconstruction Program: helping rebuild by the UN Office for the Coordination mobile library for children; Indonesia’s worst-affected areas of Humanitarian Affairs, the American • Mitra Netra Foundation to develop an In the aftermath of the 2004 tsunami, Chamber of Commerce and the Indonesian electronic Indonesian-English dictionary the Citibank Peka’s Relief and Chamber of Commerce and chaired by for the blind; Reconstruction Program distributed former US President Bill Clinton. • Grameen Trust to provide microfinance funding from the Citigroup Foundation and training for the development of and Citigroup businesses, employees and History of giving microbusinesses in Indonesia customers totalling IDR23,050,000,000 Between 2003 and 2005, (US$2,305,000). IDR36,984,280,000 (US$3,698,428) Citibank Peka volunteers also got was distributed as follows: involved by: Funds were distributed to a range of relief organizations, including: • Creating Learning Communities • Teaching English to children; for Children IDR3,360,000,000 • Entering data for the electronic • International Red Cross emergency (US$346,000) dictionary for the blind; disaster relief fund; • Citigroup Success Fund • Translating English books into Bahasa • Habitat for Humanity Indonesia for the IDR4,699,280,000 (US$469,928) Indonesian; construction of 200 houses in Tibang • Citigroup University Banking • Story reading for children village and 100 homes in Mulia village, Banda Aceh; • Bina Swadaya Foundation to support an Citigroup University Banking economic rebuilding program; Course • Hope Foundation to provide food, counselling, health education, sanitation Launched in 2003, Citigroup business and English courses for children and to managers like Country Collection Head, Global Consumer Group Indonesia, Rudy build a learning center in Nias; Widjaja (pictured) have presented lectures • The Foundation for Development and set assignments at a three-credit Cooperation to help improve the banking management course at the Faculty effectiveness and capacity of the of Economics at the University of Indonesia. local microfinance institution network through disaster preparedness training “Limited to 50 students per year, the and stakeholder engagement course is one of the most popular courses on campus because students enjoy the Citigroup Indonesia staff also gave chance to listen and interact with actual generously of their time. Fifty volunteers practitioners” said Dr Bambang Hermanto, helped manage the Indonesian Red Cross Head, Management Department, Faculty of Economics, University of Indonesia. headquarters in Jakarta from January to
28 Korea
Community focus Citigroup also supported the 2005 National Citigroup snapshot Citibank Korea’s community support YWCA of Korea Women’s Leadership focuses on programs for financial Awards. A committee of prominent leaders History education, educating the next from universities, NGOs and the media Citigroup was the first foreign bank to generation and building communities chose two winners from a field of 70 establish a presence in Korea in 1967. and entrepreneurs, especially those that candidates. The Awards were presented In 2004, Citigroup acquired KorAm involve our employees and build long-term at a ceremony attended by the Minister of Bank, a leading local bank, and became partnership with the community. Gender Equality. Citibank Korea, Incorporated.
Financial education For the young in our community, Citibank Businesses Korea supports two specific programs. Our operations in Korea include The Ewha-Citigroup Global Finance Citibank and six other banks in Korea consumer banking, corporate and Academy, a collaboration between Ewha’s investment banking and private banking. Department of Business Administration and partnered with the Seoul Saemaul Undong Citibank offers courses in the major areas Association, a private self-support Presence of finance to fourth year business majors organization, and invited children from 253 branches across 40 cities in and graduate school students. Citibank seven elementary schools in remote areas 9 provinces Korea’s executives are actively involved as to visit Seoul in May 2005. The aim was to lecturers over the three-month duration of increase the knowledge and confidence of Number of employees the course. these less privileged children. More than 5,000
Educating the next generation Citibank Korea also supports ‘Beauty of Launched jointly with the YWCA Korea Korea Children’s Drawing Contest’, one and supported by the Ministry of Finance of the Bank’s most popular community and Economy, Ministry of Environment and events. In the final round, the professor Ministry of Education, Citigroup Success and students of Seoul National University Fund program encourages elementary, College of Fine Arts judged 450 entries out secondary and high school teachers to of over 20,000 submitted. develop innovative classroom activities and teaching materials for their students.
Building communities and entrepreneurs Since 1998, more than 380 of our employees have donated their time and skills to the building of homes for less fortunate families as part of the Habitat for Humanity program. In 2005, around 30 staff volunteered for the program.
Through the Joyful Union microcredit program, Citibank extends small but vitally needed funds to borrowers on a long-term, low-interest basis and without security, which most commercial banks in Korea would be unwilling or unable to provide. In 2005, the Citigroup Foundation also provided funding support for the Microcredit International Forum, which was held in Korea.
29 Community highlights in 2001, a total of 450 students have and covered training for about 80 Citigroup Success Fund: extending and participated in the 12-week course. Senior existing and new borrowers, 10 branch supporting the national curriculum in executives from Citibank deliver lectures managers, and 80 branch staff. About innovative ways in global finance, corporate banking, 100 delegates attended the 2005 Korea The Citigroup Success Fund program consumer business, wealth management, Microcredit Symposium started in 1988 to provide grants to credit management, investment banking, teachers who wish to implement interesting marketing and career development. From • Citibank Korea donated to the and innovative curriculum ideas for their 2006, Ewha Womans University will nationwide children’s drawing/painting classes. In the program’s first year, 104 out extend the duration to allow an expansion competition called ‘Beauty of Korea of 124 proposals were selected and grants of course material. The University will Children’s Drawing Contest’. In 2005, were given to the teachers to put their also grant official course credits to a total of about 20,000 drawings proposals into action. participating students. from preschool and elementary school students were submitted. The In 2005, the Citigroup Success Fund was History of giving winning drawings were displayed for implemented in association with the • In December 2005, Citibank Korea public viewing at COEX Convention & National YWCA. In a survey, carried out employees collected and donated Exhibition Centre after the 2005 awards, 94% of teachers money to the Korea Red Cross-managed indicated they intended to apply for this South Asia tsunami relief fund as • Citibank Korea supported the ‘Resource program in the future. well as to the KBS fund (major local Alliance NGO Seminar’ organized by broadcaster) in support of relief efforts Resource Alliance and Citigroup Asia Ewha-Citigroup Global Finance Academy: following a major snow storm Pacific headquarters for NGOs in providing quality financial services the region education for Korean women • Citigroup Foundation donated to Since the Ewha Womans University- ‘Joyful Union’ and sponsored the 2005 Citigroup Global Finance Academy financial Microcredit Forum in Korea. The grant services lecture series was launched supported the loan program operations
Innovative teaching ideas in action
The Citigroup Success Fund 2005 offers creative teachers both financial support and the opportunity to implement their new ideas in the classroom. Hun-Kwan Yim from Koduk Junior High School received the Korea Citibank President Prize for his innovative stock market simulation program. He says, “Students used to daydream about becoming millionaires through the stock market. But as they played the stock market simulation, students learned that they could not earn money without economic knowledge and an understanding of how money works. I was very pleased when students began to realize the value of money and changed their attitudes toward stocks.” Hun-Kwan Yim is shown seated in the centre of the front row, together with Citibank Korea members, YWCA members and other prize winners at the 2005 Success Fund Program Award Ceremony.
30 31 32 Malaysia
Community focus sponsor secondary schools in the Klang Citigroup snapshot In Malaysia, Citigroup’s “Reaching Out” Valley and Penang, where Citigroup community program is designed to touch all volunteers work closely with 16-year olds to History facets of society through the three broad build a viable business enterprise. Citigroup has been operating in Malaysia pillars of Financial Education, Education, since 1959. The bank was locally and Building Communities. Building communities incorporated in 1994. Through the Asia Pacific NGO Awards, Financial Education Citigroup recognizes local NGOs for their Businesses Citigroup Malaysia is committed to accomplishments and best practices. Citigroup provides a comprehensive helping young people develop the skills This promotes a vibrant and effective range of financial solutions to consumers NGO sector. As part of the Awards and corporations in Malaysia including and knowledge they need to manage program in Malaysia, a two-day seminar corporate and investment banking, their personal finances responsibly, make consumer banking and private banking. informed economic decisions, and achieve promoting effective resource mobilisation, Citigroup also provides offshore success in the global workplace. To instill good governance, accountability and financial services out of its office in good money-management values, we have transparency was held in Kuala Lumpur in Labuan, Malaysia. published two dual-language financial June 2005. education books, The Adventures of Agent Presence Penny and Making $ense of Money, as part In support of tsunami relief efforts by Kuala Lumpur, Penang, Johor Bahru and of Malaysia’s first financial literacy outreach the Malaysian Red Crescent Society Labuan programs for youth. (MRCS), Citigroup Malaysia employees pledged and donated over RM166,642.48 Number of employees Another program developed to promote (US$43,853.29). Citigroup volunteers also More than 4,000 financial education among students contributed more than 1,000 hours to is the Kuala Lumpur Stock Challenge. assist MERCY Malaysia and MRCS at their The Challenge advocates creative and relief centres by coordinating, sorting and experiential learning as students are put packing food and medical supplies to be through an intensive two-day workshop. shipped to areas that needed urgent help. Students aged 16-17 are exposed to the basics of equities, stock markets and Community highlights trading. The program is organized and Agent Penny: illustrating the basics conducted by experienced educators and of financial literacy for primary school Citigroup employees. children The Citigroup Malaysia launch of The We are also committed to helping Adventures of Agent Penny in 2005 was undergraduates and postgraduates expand the first financial education program for their knowledge and insights into the primary school children in Malaysia. Agent banking industry so that Malaysia has Penny, or Ejen Mas as she’s known in an even more talented pool of finance Bahasa Malaysia, educates students aged professionals in future years. Through 10-12 using a comic book and skit the University Banking Seminar Series, to illustrate the importance of savings Citigroup executives conduct courses and budgeting. during the university calendar year that provide a practitioner’s perspective on Over 10,000 copies of the comic book were the industry and expose students to the distributed to primary school students in theoretical as well as practical aspects Kuala Lumpur, Selangor, Penang and Johor. of banking. Students from the participating schools Education also performed skits, demonstrating their Citigroup Malaysia also supports the understanding of the fundamentals of Young Enterprise Program, a community money management. Their peers were service education program by the American invited to watch the skit and interact with Malaysian Chamber of Commerce. We Citigroup volunteers as part of the school’s
33 extra-curricular enrichment activities. Via importance of personal financial planning Following the overwhelming success in the website www.kidswealthfoundation.org, and management. The book also has an 2005, the program will cover another students, parents and teachers are able interactive CD-Rom to help illustrate the 50 new schools in 2006, reaching to obtain more information and resource fundamentals of the program. 17,000 students. materials on the program. In 2005, the Making $ense of Money History of giving The program was funded by a grant from program was conducted in 50 schools • Since 2003, Citigroup has contributed Citigroup Foundation amounting to in Kuala Lumpur, Selangor, Penang and RM285,000 (US$75,000) to the Young RM182, 400 (US$48,000). Johor Bahru. Over 10,000 16-18 year-old Enterprise Program, and over 40 students at these schools attended two- Citigroup volunteers have acted as In 2006, the program will be extended hour workshops conducted by 100 Citigroup Advisers to more than 150 students to another 15,000 students from various volunteers. The volunteers also participated in four schools as part of the student schools nationwide, including East Malaysia. in a train-the-trainer program to ensure mentoring program they would be able to deliver the program Making $ense of Money: introducing effectively. Students were introduced to • Since the launch of the University young adults to financial planning the basics of financial planning, including Banking Series in September 2004, essentials savings, debt and credit, the time-value Citigroup Malaysia has reached close Making $ense of Money – A Financial of money, insurance, budgeting and to 2,000 students from different ethnic Survival Guide for the Next Generation is entrepreneurship. groups through these lectures a book produced by Citigroup, targeted at young adults to introduce the The program was funded by a grant worth RM323,000 (US$85,000) from Citigroup Foundation.
The Adventures Of Agent Penny
At the launch of the comic book, Education Ministry Deputy Director General, Dato’ Hj Khusaini Hasbullah said: “Developing skills in financial management among school children from an early age is important so as to prepare them for the working life.” He also encouraged teachers to take up the challenge of educating students on managing money wisely.
At the Agent Penny launch, Dr Leo Ann Mean, Vice President, Malaysian Invention and Design Society (Citigroup’s program partner) said, "Agent Penny is beneficial to the children as they learn about managing money through interesting channels, the comic books and plays. Teachers are also involved via using the resource books and in helping organize the plays."
34 New Zealand
Community focus In 2005 Citigroup staff supported a Citigroup snapshot Through grants provided by the Citigroup number of Kiwi Can fundraising events, Foundation, Citigroup New Zealand including a wine auction dinner, and there Citigroup established supports the Kiwi Can program, a values- will be opportunities in the year ahead 1975 based initiative that involves schools in for Citigroup staff to visit schools and disadvantaged areas. Run by the Kiwi get involved in various mentoring and Businesses Can Trust, the program aims to teach fundraising activities. Citigroup Country Corporate and Investment Banking, primary school children a system of Officer, Mark Fitzgerald, has recently Citigroup Global Markets Wealth values, respect for themselves and a become a Trustee of the Auckland Kiwi Can Management feeling of belonging and engagement Trust to further assist with administration and fundraising activities. Presence with their local community. Auckland and Wellington By supporting the individual child, and Di Palfrey, CEO of the Auckland Kiwi Can Number of employees building their self-esteem, the Kiwi Can Trust, says, “Kiwi Can is very lucky to have 56 Trust believes a significant difference can an organization like Citigroup contribute be made in preventing educational failure, funds to us. Kiwi Can gives kids a sense of anti-social behaviour and crime in later pride and self-esteem and that it’s good to years. The Trust also believes the program’s be a New Zealander. We strongly push the values have a ripple effect into homes ‘I can’ message so that even kids who have and the wider community. The program had difficulty achieving in the past learn to involves training local Kiwi Can leaders, keep trying if they don’t succeed at first. usually themselves from disadvantaged Kiwi Can helps the kids stand a bit taller.” backgrounds, to mentor the children and lead by example.
Kiwi Can is currently involved with 12,000 children in 44 schools around New Zealand. In 2005, the Citigroup Foundation grant of US$25,000 allowed the Auckland Kiwi Can Trust to fund coordinators in two of the biggest schools in South Auckland, Te Matauranga in Clendon and Robertson Road School in Mangere. These coordinators The Kiwi Can Trust campaign logo work full-time and are based in the schools, visiting each class at least once a week.
The program has had measurable success History of giving in reducing bullying, truancy and anti- • Citigroup gave US$25,000 a year social behaviour in schools and improving from 2000 to 2003 to the Books in attitudes to learning and the community. Homes program, a nationwide literacy Schools where the program has been program that provides books for implemented report increased levels of disadvantaged children numeracy and literacy, improved physical fitness and more confident and effective • In 2004 and 2005, we gave US$25,000 communication skills among the children. each year to support the Kiwi Can Trust
35 Philippines
Community focus Congress aims to equip talented young Over the years Citigroup Philippines has undergraduates with the practical skills been involved in ongoing programs in and insights to help them plan a long-term Citigroup snapshot three priority areas – financial education, career path in the finance sector. The program also allows Citigroup employees History educating the next generation, and building Citigroup’s history in the Philippines communities and entrepreneurs – enabling to share their expertise and help raise dates back to 1902 when the first branch us to build effective long-term partnerships the quality of financial education at the was established in Manila, followed by with key non-profit organizations and NGOs. tertiary level. another branch in Cebu in 1904. Today, we are the largest foreign commercial We are focused on providing good financial Microentrepreneur of the Year Awards: bank in the Philippines. education to young people, supplying recognizing outstanding innovations in educational facilities and promoting a microfinance Businesses better learning environment, particularly The launch of the third Philippines Citigroup provides a comprehensive for marginalized early learners. In Microentrepreneur of the Year Awards, range of financial solutions to consumers addition, we recognize outstanding supported by funding from the Citigroup and corporations including corporate and microentrepreneurs and highlight best Foundation, was one of the major events investment banking, consumer banking that marked the UN’s 2005 International and private banking. practices to boost microentrepreneurship that helps build better communities. Year of Microcredit. Piloted in the Presence Philippines in 2002, the nationwide search 53 branches in 14 key cities in the Employee volunteerism has been a for outstanding microentrepreneurs is metropolis and 11 provinces. significant area of activity in 2005 with now on its third run in the Philippines the successful rollout in June of the and in 2005 was held in four other Number of employees Citigroup Global Volunteer Program, countries in Asia under the Global More than 3,500 which allows employees a day off for Microentrepreneurship Awards banner. community service. Interest in the program The program is designed to highlight the has been considerable from the beginning best Filipino microentrepreneurs to raise as employees went out in groups, taking awareness of microfinance and its benefits their time off to share their knowledge, in impoverished communities, create role skills, talents, and in some cases, their models and inspire other poor people to personal funds. start their own businesses. Around 20 Citigroup senior staff volunteers go out in Employees also responded quickly to the field to be evaluators and assessors. several disasters during the year. Local accounts were set up to collect funds for Project BLUE: improving the quality of relief efforts after the South Asia tsunami public education in late 2004 and the South Asia earthquake Our biggest and most successful program in November 2005, and the areas hardest for providing better learning facilities hit by the four successive typhoons in is Project BLUE (Buildings for Literacy, Quezon province in the Philippines. Understanding and Education) run in partnership with Philippines Business Community highlights for Social Progress and the Department Citigroup Junior Bankers Congress: of Education. In the Philippines, 80% of expanding opportunities for promising schoolchildren study in public elementary young finance students schools that lack classrooms and basic In September 2005, the third Citigroup facilities such as desks and chairs. In Junior Bankers Congress hosted 30 of the 2005, Citigroup donated its biggest school country’s top finance students for a three- building so far – a two-storey, six-classroom day program of workshops and discussions building – to Tipas Elementary School in with Citigroup senior executives. The Taguig. A two-classroom building was also
36 provided for Maysilo Elementary School • In 2001, Citigroup supported the Asian facilitators from the International in Malabon. To date, under this program, Microcredit Conference at the Asian School in Manila, and more than 450 Citigroup has provided 32 brand-new Institute of Management (AIM). In public school students benefited from classrooms to 14 public schools in Metro 2002, the Citigroup Foundation 600 new storybooks Manila and in three towns in the province granted US$82,000 to Philnet, a local of Laguna. microfinance network, for a series • In 2004, a US$50,000 grant was made of training programs focusing on to the Citigroup Success Fund Awards History of giving management development, quality, to promote innovation in reading • As a result of Project BLUE, Citigroup credit and risk management, and programs that supports overall nation was recognized in 2004 and 2005 micromarketing. These modules building. This nationwide competition, by the Department of Education as a are now being used by Citigroup and in partnership with Sa Aklat Sisikat partner in its Adopt-A-School Program. AIM to certify microfinance trainers Foundation and the Department of For the past three years, the program across the region Education, received a total of 118 entries has also attracted more than 200 and the nine most innovative reading Citigroup employee volunteers who • In 2003, Citigroup granted US$10,000 programs for public school students have “adopted” the schools and spent to the Sa Aklat Sisikat Reading Program won awards time with the school children, holding and Teacher Training Power Conference reading sessions, basketball and to implement a reading program in badminton clinics, art competitions and three schools in Bulacan. A two-day Christmas activities teacher training course was run by
Junior Bankers get opportunity to meet and learn from Citigroup business managers
The winning 30 finance students of the 7th Inter-Collegiate Finance Competition (ICFC) gathered for the 2005 Citibank Junior Bankers Congress in September. The ICFC is the country’s most prestigious annual academic competition focusing on business, economics and finance and is organized by the Financial Executives Institute of the Philippines (FINEX). Seventy-nine colleges and universities nationwide participated in this year’s competitions.
Many of the students left the congress highly motivated and better informed and Ateneo de Manila University student, Mark Robert Uy said, “The Junior Bankers Congress gave me a better view on the inner workings of a bank and at the same time, made me realize that there is more to banking other than the financial aspect. Service is also very important.
“As well as the information, we enjoyed the format of the program because it was interactive and also had many light-hearted moments. Most of all, the Congress, and the presenters reinforced the big opportunity for us to make a difference through banking,” added Mr Uy.
37 Singapore
Community focus characters Agent Penny and Will Power, Citigroup snapshot In 2005, Citigroup Singapore used a drama based on the same characters, S$813,120 (US$492,800) in grants teacher activity resource kits and an History from the Citigroup Foundation to benefit interactive website with on-line games Citigroup first established a presence the community. and quizzes. in Singapore in 1902, the first American bank to set up a branch in Singapore. We Citigroup Singapore supports programs that In Singapore, The Adventures of Agent were among the first foreign banks to be focus on promoting financial literacy among Penny and Will Power has already reached awarded the Qualifying Full Bank status youths, building stronger communities 25,900 students in 37 schools in just one by the Monetary Authority of Singapore. by encouraging social entrepreneurship, year, representing 22% of all primary The bank was locally incorporated in schools in Singapore. It has since been 2005. developing community leadership as well as promoting creativity and innovation rolled out to Hong Kong, Malaysia Businesses amongst the younger generation. and Taiwan. The key businesses include corporate and investment banking, consumer Through our partnership with the Learning Citibank-YMCA Youth for Causes: banking, private banking, wealth Society, we have the most comprehensive developing the next generation of management and alternative range of financial education initiatives for community leaders investments. Singapore is also a youths in Singapore. These programs have Youth for Causes is a community initiative strategic hub for regional consumer reached out to 40% of the schools here, launched in 2003 by Citibank and the banking management, marketing, representing over 40,000 youths. YMCA of Singapore, aimed at promoting operations and technology. Citigroup’s social entrepreneurship and developing processing and computer centers in community leadership among youths in Singapore serve the transactional needs Community highlights Singapore. It provides young people aged of our branches in over 60 countries. The Singapore Stock Challenge: a hands- Our Asia Pacific processing hub for cash on introduction to stocks and equities 15 to 35 years of age with seed funds and and securities services is also here. The Singapore Stock Challenge is a two-day resources to execute creative ideas that interactive learning event that teaches they believe will benefit and support a non- Presence the basics of equities and stock trading to profit organization of their choice. In key business and sub-urban districts 15-year-old students, as well as involving including Orchard Road, Church teachers. A total of 627 students from 28 Each participating youth group is assigned Street, Raffles Link, Marine Parade and schools participated in the Stock Challenge mentors from among Citibank staff and Tampines. in 2005, and the program has also been YMCA members who offer advice, guidance introduced in Malaysia and Hong Kong. A and project management supervision Number of employees total of 72 Citigroup staff have volunteered throughout the duration of the project. In More than 7,000 to help run the Stock Challenge. Since the 2005, 75 Citigroup staff from across the program was introduced in 2002, we have businesses volunteered as mentors. This reached out to a total of 2,400 students. program has seen huge success since its launch and the number of participating The Adventures of Agent Penny and teams grew from 25 in 2003 to 100 teams Will Power: bringing good financial in 2005. sense to life Piloted in Singapore in 2005, Agent Penny In 2005, the program received the is an innovative financial education program endorsement of the President of the for students aged 10 to 12 designed to teach Republic of Singapore to be included them good money-handling habits from under the President’s Challenge 2005. The an early age. The initiative is in line with President’s Challenge is an annual series Singapore Ministry of Education objectives of community-based activities started by to promote financial education in schools. President S R Nathan in 2000 to rally the public towards helping those in need of The core elements of the program are a assistance. It is one of only 19 nationwide comic book with three stories featuring the community programs to be accorded recognition at this level.
38 Citigroup Singapore Funds raised in 2005 hit a high of S$1,638,000 (US$964,000) since its S$441,000 (US$268,000), nearly three inception in 2002 to support our local supports programs that times the seed funding provided and twice not-for-profit partner, the Learning the funds raised in 2004. Through the 100 Society in the delivery of a wide range focus on promoting projects, it mobilized 10,000 volunteers, of financial education programs such financial literacy 100% more than 2004 and benefited 65 as Stock Challenge and Making $ense not-for-profit organizations, twice the of Money. These programs reach out to among youths, building number in 2004. In total, since the launch secondary and pre-university students in 2003, we reached out to over 500,000 by providing them with a head start in stronger communities people through this program. the disciplines of budgeting, financial by encouraging social planning and investment History of giving entrepreneurship, • A total of S$2,267,000 (US$1,340,000) • Of the total grants given to the has been received in grants from Learning Society since 2002, S$637,500 developing community Citigroup Foundation since the (US$375,000) was provided in support leadership as well as introduction of our first community of Ideas in Action, a program aimed at initiative in 2002 bringing innovation, entrepreneurship promoting creativity and and creativity to schools by providing • Citigroup was the first financial grants to student and teacher projects. innovation amongst the institution in Singapore to introduce This is the only Citigroup program younger generation financial education to youths. Citigroup endorsed by Singapore’s Ministry Foundation provided grants totalling of Education
Cartoon approach to money management a big hit in Singapore
A successful Citigroup-Learning Society financial education initiative aimed at primary school children sees comic book heroes Agent Penny and her trusty sidekick Will Power go on fun-filled adventures into the world of saving and budgeting. They explore issues about money management, including how to budget pocket money, how to maintain a savings account and how to make responsible purchasing decisions.
“What Agent Penny teaches is important, because many children are spending their money senselessly. After the Agent Penny show, I’ve learned a lot about saving money,” says Muhammed Habib, aged 11.
“Agent Penny and Will Power are cool and smart. They teach people to save money so that when emergencies come, they are prepared. They also teach people to compare things and make decisions on whether it’s worth buying these things. I’ve learned to use money wisely,” says Muhammed Firdaus, also 11.
39 Sri Lanka
Community focus • RS. 15,000,000 (US$150,000) to Citigroup snapshot Financial education Sudeera Daruwo, the Central Bank Since 2001, Citigroup has given Employees Trust Fund for Tsunami- History RS. 10,000,000 (US$100,000) to support Affected Children, to improve the living Citigroup has had a presence in Sri Lanka Young Entrepreneurs Sri Lanka (YESL), a standards of children orphaned by the since 1979. member of Junior Achievement Worldwide. tsunami and to provide counselling, YESL is the only program in Sri Lanka care and amenities to the schools Businesses designed to encourage children from they attend Citigroup offers corporate and primary school through to high school to investment banking services in the learn about business, economics and free • RS. 5,000,000 (US$50,000) to country. enterprise. YESL also gives students the Habitat for Humanity Sri Lanka for the construction of a building training Presence practical skills, self-reliance and confidence Colombo to help them succeed in the workforce. center in Galle, one of the areas most In 2005, the program ran in two districts, affected by the tsunami. The training Number of employees involving 15 schools, over 1,500 students, center will be a place where people More than 70 and more than 300 principals and teachers. come to learn construction skills and information about new environmentally- Disaster relief friendly housing building technologies In the aftermath of the tsunami, Colombo branch staff formed a tsunami Community support disaster relief committee in response to Citigroup contributed RS. 310,000 the nationwide call for help. We distributed (US$3,000) to improve living conditions in dry rations, clothes, medical supplies and Rohana Deaf and Blind Special School in drinking water to those directly affected, Matara. This enabled the school to upgrade and many staff made in-kind contributions its wastewater and drainage systems, install and donated a day’s pay. In addition, another 20 showers, and improve the Citigroup Foundation grants were drinking water facilities and the ventilation allocated as follows: in the dormitories.
Young Entrepreneurs Sri Lanka: students get a slice of real business life
In 2005, the Most Outstanding Young Entrepreneur of the Year Award was won by Ferguson High School, Ratnapura.
Speaking about the competition, Ferguson School student, Samindi Fernando said: “We really enjoyed taking part in this competition because we not only got a taste of what it’s like to prepare a business plan and run a company, we also learnt a lot about teamwork, and coming up with new ideas and researching and testing them.
“We also enjoyed the interaction with Citigroup volunteers who gave great advice and helped us to get a sense of what real business is like.”
40 Taiwan
Community focus Affinity card, launched in 1998; and Public Citigroup snapshot Citigroup Taiwan’s commitment to the Television Station (PTS) sponsorship, in community can be traced to the opening place since 1999. The Citibank-CRU Affinity History of our first branch. In addition to corporate card contributes 0.275% of the amount Citigroup opened our first branch in giving, our employees play an active role spent on each card to the CRU Foundation. Taiwan in 1964. in the community initiatives. Last year, Citigroup provides funding to the PTS to Citigroup Taiwan donated nearly produce high-quality television programs Businesses NT$40 million (US$1.23 million) to covering topics like financial education and Key businesses in Taiwan include fund community programs, the largest local culture and community developments. corporate and investment banking, contribution among the foreign banks in consumer banking and private banking. the country, focusing on financial Educating the next generation
Presence education, building communities and Citigroup Success Fund and Read for the Major cities including Taipei, Kaohsiung, educating the next generation. Future are our two major initiatives in Pan Chiao, Taoyuan, Hsinchu, Taichung youth education. Citigroup Success Fund and Tainan Financial education encourages English teachers to develop Citigroup’s major financial education and implement creative teaching ideas. Number of employees programs include the University Lecture Read for the Future is a joint project with More than 3,500 Series since 1998; Educities, launched in the Commonwealth Education Foundation, 2001; Dollars and Sense since 2004; and providing 100 rural elementary schools the Kids Wealth Foundation, launched with more reading resources to help in 2005. These programs benefit students develop good reading skills for elementary school, senior high school future learning. and undergraduate students as well as members of the public. Citigroup has Community highlights collaborated with various professional Citibank-United Way fundraising institutions to reach these target groups campaign: a long tradition of public giving through in-class lectures, internet-based 2005 marked the 11th year of the Citibank- tutoring and drama performances. United Way Fundraising Campaign, one of Citigroup not only provides funding Taiwan’s most important public fundraising to these programs; it also contributes events. Since 1995, more than 220,000 the expertise of its staff, who volunteer people have contributed to the campaign as instructors to share their professional and raised more than NT$620 million knowledge and experience with (US$18,770,000) in donations. These the students. funds were allocated to 3,747 nonprofit organizations, including Good Shepherd Building communities Sisters Social Welfare Service and Syin- Citigroup’s major community-building Lu Social Welfare Foundation making a sponsorship programs are the Citibank- significant difference to many individuals United Way Fundraising Campaign, since and communities throughout Taiwan. 1995; the Citibank-Children Are Us (CRU) During the 2005 campaign, Citigroup held a Staff Fundraising Day, when all 3,500 staff donated generously to the appeal. Fifty staff also volunteered to help with external fundraising activities involving their customers and business partners. In total staff volunteer about 4,500 hours each year.
41 Since 1995, more than Dollars and $ense: taking financial History of giving education into secondary schools • Citibank has donated NT$7 million 220,000 people have 2005 was the second year that the (US$215,000) to the Citibank-United Citigroup Foundation collaborated with raised more than NT$620 Way Fundraising Campaign each year, the Taipei Women’s Rescue Foundation in for the past 11 years million (US$18,770,000) Dollars and $ense, a financial education program aimed at school students aged 15 • The Citigroup Foundation has donated in donations to 18. The program is the only school-based NT$3.2 million (US$100,000) to the financial education program for teenagers Taipei Women’s Rescue Foundation in Taiwan. The 2005 program was rolled in support of the Dollars and $ense out in October and included 45 campus financial education program each year sessions and four discussion panels. By May since it started in 2004 2006, 13,000 students and 50 staff from Citibank (providing more than 50 volunteer • The Citigroup Foundation has donated hours) are expected to participate in NT$2.5 million (US$78,500) to Ifkids the program. Theatre Company in support of Citigroup Kids Wealth Foundation In 2005, Citigroup commissioned a financial education program. The comprehensive survey of senior high program started in Taiwan in 2005 and school students, asking them about their will continue to be a community focus value systems, attitude toward money, for Citigroup Taiwan their wants, needs and interests outside of school. More than 1,800 students • Each year, Citibank donates NT$10 responded to the survey. The key findings million (US$307,000) to support Public included: 90% of the students said their Television Station to produce social financial knowledge came from their family; awareness programs. In 1998, Citibank 60% from television; and only 41% from made a NT$120 million (US$3.7million) teachers. Based on these findings, Citigroup commitment to support PTS for 12 years volunteers developed topics to address the gaps in the teenagers’ financial knowledge • Citibank-Children Are Us (CRU) Affinity and interests. card has raised NT$90 million (US$2.82 million) to CRU Foundation since 1998
Dollars & $ense
Vivi Chen, aged 16, from Hsin Chu Girls High School (second row, extreme left), was one of the thousands of students to participate in the 2005 Dollars and $ense financial education program.
“After the Dollars and $ense program, I have a much clearer idea about how to define my needs and wants. The video and the instructors’ tutoring encouraged me to review my consumer behaviour. I now know it’s really important to keep a balance between my pocket money and my daily expenses. From now on, I plan to save a portion of my pocket money as soon as I get it from my parents - then I’ll be able to go abroad to study English after I graduate.”
42 43 Thailand
Community focus The 2005 camp took place in Ayudhaya Citigroup snapshot Educating the next generation province, the ancient capital of Thailand, to Citigroup focuses on providing educational develop a sense of pride in Thai culture and History opportunities for financially-challenged an appreciation of their country’s heritage Citigroup entered Thailand in 1967 with students throughout the country. Our among the students. Sixty-four secondary a 50% equity stake in Bangkok First programs included Citigroup Foundation school and college students gathered Investment Trust. Two years later First grants to support School Scholarship and together in this ancient world heritage site National City Finance was formed. In Student Development Camps, and a Public with its many historic ruins, spectacular 1984, we acquired the Mercantile Bank in School Partnership Program that provided temples and museums. Thailand to obtain a full banking license THB 8,232,000 (US$205,800) in funding to and the Citibank name went up on 29 poor schools in urban and rural areas of Citigroup volunteers played an important November 1, 1985. Thailand based on staff recommendations. mentoring role in the camp, taking part Businesses in fun social skill-development activities Citigroup is Thailand’s largest and Building communities with the students and offering them advice most diversified foreign bank, offering Citigroup Thailand contributes to a range about their future. a full range of banking services across of community programs that help improve consumer, corporate, investment and health and living conditions in local Habitat for Humanity: improving the private banking. Citigroup’s major communities. Core programs include the living conditions of impoverished families commercial banking businesses include Habitat for Humanity project, Operation Citigroup Thailand is an active supporter of foreign exchange and treasury, cash Smile, and Bed Push, a local fundraising Habitat for Humanity. The response from management, trade finance, custodian program initiated by a local hospital employees is always positive, with the number services, lending, securitization, and to support HIV-affected patients and of volunteers growing every year. Some capital markets. On the consumer side, volunteers even travelled from other Asia we are the leader in credit card, personal supported by Citigroup employees. loan and wealth management. Pacific countries to join in the 2004 builds. We also donated THB 7 million Citigroup serves more than one million (US$150,000) to help tsunami victims in In 2005, the building project was located in customers for local, international and southern Thailand. This disaster relief grant the See-Kew district of Nakhon Ratchasima retail activities. money was divided equally between the province in North East Thailand. When Thai Red Cross and the Rajaprajanugroh the call for volunteers was announced, 80 Presence Foundation, a charitable organization under employees signed up within a few days. Bangkok the patronage of the King of Thailand. Led by Citigroup Country Officer, Gary Employees Community highlights Newman and supported by Citigroup More than 2,500 School Scholarship and Student sponsorship of THB 840,000 (US$21,000), the Development Camps: broadening the team built seven houses over two days with horizons of promising young students each volunteer contributing 10 hours of time. Citigroup Thailand’s school scholarship program is run in association with the National Council on Social Welfare of Thailand. Each year we give out 200 scholarships to financially underprivileged secondary school or college students nationwide, enabling them to further their studies. The scholarship program is unique in that it also offers an education and development camp for students.
44 Citigroup Thailand’s History of giving (US$192,030) to the program. In • In 2001, Citigroup supported an e-learning addition, Citigroup organizes a community activities in initiative by donating THB 5.5 million development camp for the students (US$ 125,000) to set up a large-scale IT – the camp provides a chance for 2005 were centered on Classroom at Yannawate Wittayakom participants to learn a range of skills two main areas: educating School. Her Royal Higness, Princess and make new friends. At the camp, Somsawalee attended the opening of Citigroup volunteers play an active the next generation, and the classroom role as student mentors building communities • Since 2002, Citigroup Thailand has • The Public School Partnership helped provide safe, comfortable initiative started in 2001. Through Habitat housing for 22 underprivileged this, Citigroup employees can families. Each year, up to 135 employees actively help schools in rural work on these building projects areas of Thailand. They do this by conducting a needs analysis survey • Citigroup Thailand has supported a then mobilizing resources and school scholarship program since 2002. manpower to conduct repair and Over a three-year period, Citigroup upgrade projects has contributed THB 7,852,854.15
School Scholarship and Development Camps
The 2005 Student Development Camp was held in Ayudhaya, the former capital of Thailand, to promote Thai culture and history. At the camp, students from other provinces visited many historical places for the first time.
Four-year scholarship holder, Somkiet Chupor from Chiangrai province from the North of Thailand, said: “Like many of the others, this was my first trip to Ayudhaya and I’m looking forward to sharing my new knowledge with classmates. This was also the first time that I have had the opportunity to meet students from the south of Thailand, and I am sure we will remain friends for a long time.” With skills gained from the camp, and his college education, Somkiet plans to return to his hill tribe hometown and help continue the development of the region.
45 46 47 vietnam
Community focus Financial education Citigroup snapshot In addition to microfinance and health Citigroup provides grant support to many programs, Citigroup supports financial top financial services students in Vietnam, History education and initiatives to promote the including scholarships for 50 top graduates Citigroup has had a presence in Vietnam teaching of English in Vietnam. of the Certificate of Banking and Finance since 1993. A full branch was opened in Practices Course at the College of Business Hanoi in 1994 and later in Ho Chi Minh City. Educating the next generation Administration for Managers in Ho Chi Minh Developed by the Business Alliance for City. Citigroup also awards scholarships to Businesses Vietnamese Education and supported by the top business students from Vietnam’s Corporate and Investment Banking a grant from the Citigroup Foundation, four leading business universities in Hanoi and Ho Chi Minh City. Presence the main feature of the “English for Hanoi, Ho Chi Minh City Vietnam” campaign is an animated TV series designed to help improve the English Community support Number of employees language skills of primary and secondary Bringing Sustainable Banking to Rural 150 students and their teachers. Women is a microfinance initiative run by Save the Children to help families in Thanh The 36-episode series, which aired on Hoa province, one of the poorest regions a national television channel was also in Vietnam. The Citigroup Foundation distributed throughout the country via has contributed VND1,876,200,000 VCD. The program was launched to help (US$118,000) to this program since 2001, redress the disparity in English skills providing many thousands of women with between urban and rural areas, and also small cash loans that allow them to create enhance the academic, professional and their own sources of income. economic opportunities for a generation of Vietnamese young people. Citigroup Citigroup also supports Operation Smile, employee volunteers have assisted with the the international microsurgery mission that marketing and promotion of the series. provides free reconstructive surgery to children with facial disfigurements. Other Citigroup education programs include the Street Children Vocational Training Community highlights Program in Hanoi. Through this program, Microfinance for rural women: granting 50 young homeless people every year livelihoods to Vietnam’s poorest families are trained in basic vocational skills in the Since 2001, Citigroup Vietnam has following areas: welding, cooking, sewing supported the Bringing Sustainable Banking and house keeping. Citigroup support also to Rural Women microfinance project. helped establish computer-training centers Managed by Save the Children with the in rural areas like Vinh Long province. Both Thanh Hoa Province Women’s Union, programs are run in association with the the program aims to provide women in Vietnam Youth Federation. Thanh Hoa, one of the poorest provinces in Vietnam, with the means to create sustainable livelihoods to support their families. Over the last 10 years, programs that provide savings services and small loans for the underprivileged have helped significantly reduce poverty in Vietnam.
48 In 2005, the Citigroup Foundation the surgery at a half-day medical exchange • Citigroup awards VND477,000,000 contributed VND318,000,000 (US$20,000) workshop. Citigroup volunteers joined the (US$30,000) to 50 top graduates and for the Thanh Hoa project. Today, the mission, assisting with logistics, patient qualified students participating in the program has over 10,000 active borrowers screening and translating services for Certificate of Banking and Finance and last year saw a huge increase in active patients before and after their operations. Practices Course at the College of savers. More than 10,000 women now put Business Administration for Managers in money aside for the future. History of giving Ho Chi Minh City • Citigroup has granted VND477,000,000 Operation Smile: rehabilitating injured (US$30,000) over three years • The Citigroup Scholarships Fund and disfigured children (2004–2006) to develop and market has awarded annual grants totalling In 2005, a Citigroup Foundation donation of the educational “English for Vietnam” between VND159,000,000 (US$6,000- VND238,500,000 (US$15,000) in support television series $10,000) per year to top business of Operation Smile, allowed international students in four leading universities teams of surgeons to operate on children • For the past 10 years Citigroup has with birth defects and facial injuries. contributed up to VND318,000,000 • In 2004, Citigroup contributed (US$20,000) per year to VND318,000,000 (US$20,000) to This year’s mission, the 10th supported Operation Smile establish a computer training center for by Citigroup, took place in Quang Nam young people in Tien Giang; in 2005, it in central Vietnam. Forty-seven medical • Since 2001, Citigroup Vietnam donated a further US$20,000 to launch professionals from around the world worked has donated VND1,876,200,000 a similar center in Vinh Long Province alongside a team of Vietnamese staff for 10 (US$118,000) to a microfinance program days to treat 162 children and young adults run by the Thanh Hoa Province Women’s • Citigroup gave VND238,500,000 with cleft lips and palates, burn injuries Union, in collaboration with Save (US$15,000) in 2004 and 2005 to and tumors. The mission also offered the Children support the Street Children Vocational opportunities for local doctors and nurses Training Program in Hanoi to learn new medical techniques during
Vocational Training for underprivileged youths
The Street Children Vocational Training Program, run by the Vietnam Youth Federation and sponsored by Citigroup, equips homeless children with practical skills like welding, sewing and cooking to help them find jobs and build a future.
Hoang Van Nha, a 15-year-old graduate of the course, says, “I come from a very poor family and both of my parents died leaving my brother and I alone. We came to Hanoi looking for work. I was fortunate to have the opportunity to attend the vocational training program in mechanics and welding. After graduation I was introduced to work at a mechanic workshop and now earn enough to make a living. I’m so grateful to Citigroup and the vocational training centre for giving me and other kids in my situation this excellent opportunity.”
49 50 51 Citigroup Foundation 2005 GRANTs Asia Pacific*
Regional Australia United Way International INSEAD Management Education United Way International Chinese Academy of Social Sciences: Foundation Australian Indigenous Leadership Centre Citigroup Microfinance Training Center Financial Education Exchange Program $330,000 payable @ $120,000 in 2004, $880,000 payable @ $221,000 in 2004, $760,000 payable @ $260,000 in 2004, $120,000 in 2005, and $90,000 in 2006 $196,000 in 2005, $196,000 in 2006, $270,000 in 2005, and $230,000 in 2006 $163,000 in 2007, and $104,000 in 2008 YWCA New South Wales: Financial Education Summit 2005 Finance First Program Chinese Academy of Social Sciences: $250,000 $475,000 payable @ $300,000 in 2004, Global Microentrepreneurship and $175,000 in 2005 Awards 2005 microfinance opportunities $160,000 Financial Education for the Poor (global Bangladesh program including Asia) Charities Aid Foundation America Chinese Academy of Social Sciences: $3,900,000 payable @ 1,050,000 in 2005, Shakti Foundation for Disadvantaged Microfinance Association Program 1,820,000 in 2006, and 1,030,000 in 2007 Women: Entrepreneurship Program $725,000 payable @ $158,000 in 2004, for Women $183,000 in 2005, $139,000 in 2006, united way international $86,000 payable @ $25,000 in 2005, $128,000 in 2007, and $117,000 in 2008 Asian Institute of Management: Training $28,000 in 2006, and $33,000 in 2007 Accreditation Program Chinese People’s Association for $350,000 payable @ $175,000 a year, United Nations foundation Friendship with Foreign Countries: 2004–2005 Palli Karma Sahayak Foundation: Global Citigroup English Teachers’ Innovative Microentrepreneurship Awards 2005 Teaching Competition Foundation for Development Cooperation: $15,000 $108,000 payable @ $42,000 in 2005, Asian Forum on MFIs in Crisis Situations $42,000 in 2006, and $24,000 in 2007 $50,000 United Way International Grameen Trust: Chinese People’s Association for Foundation for Development Cooperation: Struggling Members Program Friendship with Foreign Countries: Banking with the Poor Network and Online $250,000 payable @ $75,000 in 2005, Citigroup-Qu Geping Green Aid Program Asia Resource Center for Microfinance $85,000 in 2006, and $90,000 in 2007 $146,000 payable @ $90,000 in 2005, $200,000 $36,000 in 2006, $10,000 in 2007, and World Literature Center: Nationwide $10,000 in 2008 Foundation for Development Cooperation: Enrichment Program Expansion Tsunami MFI Capacity Building Program $30,000 payable @ $15,000 a year, Charities Aid Foundation America $450,000 2004–2005 Tongji University Case Competition $234,000 payable @ $78,000 a year, Resource Alliance: NGO Awards China 2004–2006 Supplementary Budget Johns Hopkins University $25,000 Nanjing Center for Chinese Studies: Fudan University: IT Course Teaching and Research Programs $62,000 payable @ $32,000 in 2004, world resources institute $25,000 $15,000 in 2005, and $15,000 in 2006 WRI Global Forest Watch 2005 (primarily for Indonesia) United States Fund for UNICEF Beijing University: IT Course $150,000 UNICEF China: Sister Schools Tele- $62,000 payable @ $32,000 in 2004, Collaborative Learning Project $15,000 in 2005, and 2006 WRI New Ventures 2005 $230,000 payable @ $77,000 in 2004, Huazhong University: IT Course (China and Indonesia) $78,000 in 2005, and $75,000 in 2006 $62,000 payable @ $32,000 in 2004, $350,000 $15,000 in 2005, and 2006
Conservation International Building Local Ecotourism Networks $75,000
*This list only includes grants that were approved by the Citigroup Foundation during calendar year 2005. Some of the grants mentioned in this report may have been approved earlier. All figures are in US$. 52 China (continued) Jiang University: IT Student Scholarship University of Science and Technology of Charities Aid Foundation America and Faculty Fellowship Programs China: IT Student Scholarship and Faculty Beihang University: IT Student $3,500 Fellowship Programs Scholarship and Faculty $3,500 Fellowship Programs Jilin University: IT Student Scholarship $3,500 and Faculty Fellowship Programs Wu Han University: IT Student Scholarship $3,500 and Faculty Fellowship Programs Beijing University Education Foundation: $3,500 Scholarship and Fellowship Program Nanjing University: IT Student Scholarship $10,000 and Faculty Fellowship Programs Xiamen University: IT Student Scholarship $3,500 and Faculty Fellowship Programs Beijing University: Insurance Initiatives $3,500 $25,000 Renmin University: Corporate Governance Education Center Xi’an Jiaotong University: IT Student Beijing University Software College: $130,000 payable @ $38,000 in 2004, Scholarship and Faculty IT Student Scholarship and Faculty $43,000 in 2005, and $49,000 in 2006 Fellowship Programs Fellowship Programs $3,500 $3,500 Shanghai Jiao Tong University: IT Student Scholarship and Faculty Zhongshan University: Citibank Forum Delian University of Foreign Languages: Fellowship Programs and Competition Series IT Student Scholarship and Faculty $3,500 $10,000 Fellowship Programs $3,500 Shanghai University of Finance and Zhongshang University: IT Student Economics: IT Student Scholarship and Scholarship and Faculty Fellowship Dalian University of Technology: Faculty Fellowship Programs Programs IT Student Scholarship and Faculty $3,500 $3,500 Fellowship Programs $3,500 Shantou University: Citigroup Negotiation Hong Kong and Dispute Resolution Program Junior Achievement Worldwide Dongbei University of Finance and $100,000 payable @ $30,000 in 2003, Junior Achievement Hong Kong: Personal Economics: IT Student Scholarship and $30,000 in 2004, $25,000 in 2005, and Economics Program Faculty Fellowship Programs $15,000 in 2006 $168,500 payable @ $48,500 in 2004, $3,500 $54,500 in 2005, and $65,500 in 2006 Southwestern University of Finance and Fudan University: IT Student Scholarship Economics: IT Student Scholarship and United Way International and Faculty Fellowship Programs Faculty Fellowship Programs Hong Kong University: Citigroup/HKU/ $3,500 $3,500 SCMP Business and Economic Policy Seminar Series Fudan University: Science Faculty Tsinghua University: IT Student $90,000 payable @ $45,000 a year, Fellowships Scholarship and Faculty 2004–2005 $25,000 Fellowship Programs $3,500 Hong Kong University: Citigroup, HKU, Fudan University School of Management: SCMP Business and Economic Policy Banking Course and Scholarship Program Tsinghua University, School of Economics Seminar Series $18,000 and Management: Scholarship and $60,000 Fellowship Program Hua Zhong University of Science and $10,000 Hong Kong University of Science Technology: IT Student Scholarship and and Technology Business School: Faculty Fellowship Programs Tongji University: IT Student Scholarship Case Competition $3,500 and Faculty Fellowship Programs $100,000 $3,500
53 Hong Kong (continued) United Way International Hope Worldwide United Way International Akanksha Foundation: Mumbai Sponsor Citigroup Success Fund: Indonesia Hope Worldwide Hong Kong: Citigroup a School Program $461,000 payable @ $73,000 in 2004, Success Fund $36,000 payable @ $18,000 a year, $196,000 in 2005, and $192,000 in 2006 $160,000 2004–2005 Citigroup Success Fund Newsletter, Learning Society: Adventures of Agent Indian Red Cross Society in Chennai: Indonesia Penny and Will Power Financial Education Tsunami Relief Grant $36,000 payable @ $16,400 in 2005, and Program $133,750 $19,600 in 2006 $94,300 Plan India: Support for childcare centers Hope Worldwide Indonesia: Nias Island Learning Society: Hong Kong Stock for tsunami-affected children Education Program Market Challenge Program in Nagapattinam $100,000 $45,000 $34,500 National Democratic Institute University of Hong Kong, Faculty of Pratham India Education Initiative: NGO Management Certificate Business and Economics: University Basic Education Expansion Program Training Program Banking Course $1,122,000 payable @ $374,000 a year, $330,000 payable @ $75,000 in 2005, $70,000 payable @ $35,000 a year, 2004–2006 $150,000 in 2006, and $105,000 in 2007 2005–2006 Pratham India Education Initiative: United Nations FOUNDATION India Tsunami Relief Grant Global Microentrepreneurship Awards Charities Aid Foundation America $46,500 2005 Indian School for Microfinance $40,000 $3,500,000 payable @ $700,000 a year, Swayam Shikshan Prayog India: 2004–2008 Rebuilding Communities Program United States Fund for UNICEF supporting Women’s Leadership in UNICEF Indonesia: Child Friendly Schools Partners in Change: Global Tsunami Affected Countries and Learning Communities Program Microentrepreneurship Awards 2005 $115,000 $346,000 payable @ $132,000 in 2004, $200,000 $107,000 in 2005, and $101,000 in 2006 United Way Mumbai: Tsunami Relief Grant Saahasee: Thrift and Credit-Based $23,250 United Way International Cooperative Groups Strengthening Bina Swadaya (Self Reliance Development Program Working Women’s Forum: Rehabilitation Foundation) Indonesia: Microfinance $60,000 payable @ $30,000 in and Lifelihood Options for Tsunami Program in Aceh 2004–2005 Victims $100,000 $50,500 Sarba Shanti Ayog, Sasha: Spice University of Indonesia: Faculty of Business Project Working Women’s Forum: Economics Scholarship Program $60,000 payable @ $30,000 a year, Tsunami Relief Grant $98,000 payable @ $49,000 a year, 2004–2005 $46,500 2005–2006
Working Women’s Forum: Employment Indonesia Korea Training and Financial Education Habitat for Humanity International Habitat for Humanity International $140,000 payable @ $70,00 a year, Habitat for Humanity Indonesia: Tsunami Habitat for Humanity Korea: Blitz Build 2005–2006 Relief Project $52,100 $250,000 Working Women’s Forum: United Way International Entrepreneurship and Capacity Habitat for Humanity Indonesia: Central Council of Corporation of Building Program Post-Tsunami Home Build in Saemaul Undong: Education and Cultural $100,000 payable @ $50,000 a year, Banda Aceh City Enrichment Program for Rural Children 2004–2005 $150,000 $16,000
54 Korea (continued) United Way International Tuloy Foundation: Alternative Education United Way International ABS-CBN Foundation Philippines: Program for Street Children and Out-of- Ewha Women’s University: Citigroup Education Through Multi-Media Program School Youth Global Finance Academy $20,000 $15,000 $20,000 ANCOP Foundation International United Way Philippines: Munting Joyful Union: Korea Microcredit Philippines: Community Building and Panaginip, Simple Dreams Program Symposium Education Program in Gawad Ilalinga $10,000 $50,000 $100,000 Singapore National YWCA of Korea: Citigroup Ayala Foundation Philippines: Gearing Up United Way International Success Fund for Internet Literacy and Students Access Learning Society: Further Adventures $15,000 Program of Agent Penny and Will Power Program $25,000 Development National YWCA Korea: Financial Education $609,000 payable over 2 years @ for Youth Initiative FINEX: Citigroup Junior Bankers’ $294,000 in 2005, and $315,000 in 2006 $400,000 Congress $25,000 Learning Society: Citigroup Ideas in Action National YWCA of Korea: Women’s $200,000 payable @ $100,000 a year, Leadership Awards Hands On Manila Foundation: Volunteer 2004–2005 $65,000 Enhancement Program $10,000 Learning Society: Foundations in Finance Malaysia Program in Singapore United Way International Knowledge Channel Foundation $220,000 payable at $110,000 a year, Invention and Design Society Malaysia: Philippines: Cable a School Program 2004–2005 Adventures of Agent Penny Program $20,000 $42,500 YMCA Singapore: Citibank-YMCA Kythe: Child Life Program Youth for Causes Initiative Learning Society: Malaysia Stock Market $10,000 $140,000 Challenge Program $40,000 Philippine Business for Social Progress: Sri Lanka Citigroup Information and Communication Habitat for Humanity International Malaysian Invention and Design Society: Technology Teacher Training Program Habitat Sri Lanka – Galle Building Centre Pow Wow Program $10,000 $50,000 $25,000 Philippine Business for Social Progress: Junior Achievement Worldwide Mercy Malaysia: Tsunami Relief Grant School Desk Project Young Entrepreneurs Sri Lanka: $100,000 $13,000 Elementary, Middle, and Secondary School Philippine Business for Social Progress: Program Expansion New Zealand Citigroup Shares IT Program $25,000 United Way International $17,000 Kiwi Can Charitable Trust: Otara School United Way International Programs Philippines Microfinance Council: Global Central Bank Employees Trust Fund for $25,000 Microentrepreneurship Awards 2005 Tsunami Affected Children: Tsunami $45,000 Relief Grant Philippines $150,000 Operation Smile SAS Reading Program and Philippines Medical Missions Star Teacher Magazine South Asia Partnership Sri Lanka: $10,000 $20,000 Empowering 150 Tsunami-Affected Families in Galle and Matara to Achieve Sustainable Livelihoods $50,000
55 Taiwan National Council on Social Welfare of Community Awards United Way International Thailand: Citibank Scholarship Program Chinese Christian Relief Organization: and Education and Development Camp Big Brothers, Big Sisters Guam – Guam After School Program for $201,850 payable @ $61,300 in 2003, Distinguished Service Award, Disadvantaged Children $66,250 in 2004, and $74,300 in 2005 (Corporate Volunteerism) $22,500 Rajaprajanugroh Foundation: Community Chest of Hong Kong – National Central University of Taiwan: Tsunami Relief Grant Hong Kong EduCities Financial Education Program $75,000 • 3rd Highest Donation for CARE $180,000 payable @ $100,000 in 2005, Scheme (companies & organizations and $80,000 in 2006 Thai Red Cross Society: Tsunami category) Relief Grant • highest Donation for Donation Drive National Teachers Association R.O.C.: $75,000 president’s Award – Corporate & Citigroup Success Fund Employee Contribution Program $80,000 Vietnam • top Fundraiser Award (employee Business Alliance for Vietnamese contribution) Taipei Women’s Rescue Foundation: Education Dollars and $ense Campaign English for Vietnam TV/Video/CD Common Wealth Magazine – Taiwan $100,000 Series Program Most Respected Bank $30,000 payable @ $10,000 a year, United Way Taiwan: National Taiwan 2004–2006 Happiness Republic Magazine – Taiwan University and National Chengchi Best Corporate Citizen University Cross-Straits Operation Smile Exchange Program Mission to Vietnam Hong Kong Council of Special $25,000 $15,000 Services – Hong Kong Caring Company (4th year in a row) Thailand Save the Children Habitat for Humanity International Sustainable Banking Program for Prime Ministers Office – Australia Habitat for Humanity Hong Kong: Rural Women NSW Winner of the Prime Minister’s Post-tsunami Habitat Build in Phang Nga, $20,000 Award for Community Business Thailand Partnerships $65,000 United Way International AmCham United Way Vietnam: Citigroup Social Welfare Department of Hong Kong Habitat for Humanity Thailand: Scholarship Fund Volunteer Services – Hong Kong Home Build Projects $10,000 Volunteer Services Award $21,000 College of Business Administration for SWA Magazine – Indonesia Operation Smile Managers: Banking and Finance Courses Corporate Social Responsibility Award Surgery and Speech Therapy Programs $30,000 in Thailand Tung Wah Group of Hospitals – Hong Kong $20,000 Vietnam Youth Federation: Computer Corporate Social Responsibility Award Training Center for Youth in Vinh Long United Way International Province U.S. Department of State – Bangladesh National Council on Social Welfare $20,000 Special Citation for Corporate Excellence Thailand: Citibank Public School Partnership Program Vietnam Youth Federation: Vocational $47,100 Training Program for Street Children in Hanoi $15,000
56
For more information on Citigroup community activities in Asia Pacific, please e-mail [email protected]. For additional information on the Citigroup Foundation, please visit www.citigroup.com.