Citibank 2010 Annual Report Download - page 44

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INSTITUTIONAL CLIENTS GROUP
Institutional Clients Group (ICG) includes Securities and Banking and Transaction Services. ICG provides corporate, institutional, public sector and
high-net-worth clients with a full range of products and services, including cash management, trade finance and services, securities services, trading,
underwriting, lending and advisory services, around the world. ICG’s international presence is supported by trading floors in approximately 75 countries and a
proprietary network within Transaction Services in over 95 countries. At December 31, 2010, ICG had $953 billion of assets and $451 billion of deposits.
In millions of dollars 2010 2009 2008
% Change
2010 vs. 2009
% Change
2009 vs. 2008
Commissions and fees $ 4,266 $ 4,194 $ 5,136 2% (18)%
Administration and other fiduciary fees 2,747 2,850 3,178 (4) (10)
Investment banking 3,520 4,687 3,334 (25) 41
Principal transactions 5,567 5,626 6,102 (1) (8)
Other 1,442 1,513 (1,129) (5) NM
Total non-interest revenue $17,542 $18,870 $16,621 (7)% 14%
Net interest revenue (including dividends) 15,576 18,028 18,053 (14) —
Total revenues, net of interest expense $33,118 $36,898 $34,674 (10)% 6%
Total operating expenses 19,405 17,599 21,007 10 (16)
Net credit losses 568 745 916 (24) (19)
Provision (release) for unfunded lending commitments (28) 138 (191) NM NM
Credit reserve build (release) (624) 896 1,314 NM (32)
Provisions for loan losses and benefits and claims $ (84) $ 1,779 $ 2,039 NM (13)%
Income from continuing operations before taxes $13,797 $17,520 $11,628 (21)% 51%
Income taxes 3,544 4,599 2,209 (23) NM
Income from continuing operations $10,253 $12,921 $ 9,419 (21)% 37%
Net income attributable to noncontrolling interests 131 68 18 93 NM
Net income $10,122 $12,853 $ 9,401 (21)% 37%
Average assets (in billions of dollars) $ 946 $ 846 $ 1,057 12% (20)%
Return on assets 1.07% 1.52% 0.89%
Revenues by region
North America $11,875 $11,359 $12,982 5% (13)%
EMEA 10,198 13,438 9,640 (24) 39
Latin America 4,022 4,794 3,813 (16) 26
Asia 7,023 7,307 8,239 (4) (11)
Total $33,118 $36,898 $34,674 (10)% 6%
Income from continuing operations by region
North America $ 3,081 $ 3,000 $ 2,718 3% 10%
EMEA 3,056 4,713 1,834 (35) NM
Latin America 1,725 2,140 1,701 (19) 26
Asia 2,391 3,068 3,166 (22) (3)
Total $10,253 $12,921 $ 9,419 (21)% 37%
Average loans by region (in billions of dollars)
North America $ 66 $ 52 $ 58 27% (10)%
EMEA 38 45 56 (16) (20)
Latin America 22 22 25 —(12)
Asia 36 28 37 29 (24)
Total $ 162 $ 147 $ 176 10% (16)%
NM Not meaningful