Citibank 2005 Annual Report Download - page 12

10 | Citigroup 2005
Our consumer business is focused
not only on the affl uent, but across a
broad economic spectrum. In 2005,
CitiFinancial introduced a real estate-
secured loan product in several markets,
including Hong Kong and Poland,
where such loans historically have not
been available. The loan gives bor-
rowers who have been shut out of the
housing market the opportunity to
own a home.
EXPANDING OUR REACH
Likewise, the growing branch networks
of CitiFinancial and Citibank are help-
ing millions of consumers reach their
fi nancial goals and fulfi ll their dreams.
Consider South America: in Brazil
in 2005, our retail bank grew to 60
branches and 230,000 clients. In
Colombia, we increased the number of
branches and ATMs by 50 percent. And
in Peru, we added nine branches and
launched several key products, includ-
ing personal loans, retail accounts, and
online capabilities.
In the United States, we also completed
the acquisition of First American Bank
in Texas, adding 106 branches in one of
our key U.S. markets.
We expect to expand our Citibank
and CitiFinancial presence signifi cantly
in 2006, adding hundreds of branches
globally. We are working to grow our
retail bank branch network substantially
in Brazil, Turkey, and Russia, among
other countries. We also plan to expand
our consumer fi nance branch presence
in Mexico, Poland, India, Spain, Korea,
and elsewhere.
A FOUNDATION FOR GROWTH
One of the most valuable legacies of
our almost 200 years of banking is the
foundation we’ve built for growth for
the next 200: a worldwide network
of 7,919 retail branches and consumer
fi nance offi ces (includes automated
loan machines in Japan) serving mil-
lions of clients in 50 countries.
One of our priorities for 2006 and
beyond is to leverage this unique plat-
form to attract new clients and deepen
our relationships with existing clients.
We have the reach, products, and ser-
vices to succeed at both. What’s more,
we have the insight to fi nd innovative
ways to serve clients and to deliver these
services well—witness such unique
offerings as Citi Identity Theft Solutions,
the ThankYou Network, and Citibank®
Global Transfers.
SHARING EXPERTISE GLOBALLY
Citigroup is one of the world’s most
experienced fi nancial services compa-
nies, and our global footprint allows
us to share knowledge across borders.
Through our unrivaled risk and deci-
sion management expertise, we have
the ability to make loans to and open
accounts for consumers in any market.
Few companies have the advantages of
Citigroup when entering developing
markets such as India, Poland, or Brazil
and extending credit, opening checking
accounts, or issuing cards.
Small Businesses...College Students...Retirees...Homeowners...Small Bu