Citibank 2013 Annual Report Download - page 40

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LATIN AMERICA REGIONAL CONSUMER BANKING
Latin America Regional Consumer Banking (Latin America RCB) provides traditional banking and Citi-branded card services to retail customers and small-
to mid-size businesses, with the largest presence in Mexico and Brazil. Latin America RCB includes branch networks throughout Latin America as well as
Banco Nacional de Mexico, or Banamex, Mexico’s second-largest bank, with nearly 1,700 branches. At December 31, 2013, Latin America RCB had 2,021 retail
branches, with approximately 32.2 million customer accounts, $30.6 billion in retail banking loans and $47.7 billion in deposits. In addition, the business had
approximately 9.2 million Citi-branded card accounts with $12.1 billion in outstanding loan balances.
In millions of dollars, except as otherwise noted 2013 2012 2011
% Change
2013 vs. 2012
% Change
2012 vs. 2011
Net interest revenue $6,305 $ 6,061 $ 5,853 4% 4%
Non-interest revenue 3,013 2,697 2,694 12 —
Total revenues, net of interest expense $9,318 $ 8,758 $ 8,547 6% 2%
Total operating expenses $5,244 $ 5,186 $ 5,093 1% 2%
Net credit losses $1,727 $ 1,405 $ 1,333 23% 5%
Credit reserve build (release) 376 254 (153) 48 NM
Provision for benefits and claims 152 167 130 (9) 28
Provisions for loan losses and for benefits and claims (LLR & PBC) $2,255 $ 1,826 $ 1,310 23% 39%
Income from continuing operations before taxes $1,819 $ 1,746 $ 2,144 4% (19)%
Income taxes 384 278 471 38 (41)
Income from continuing operations $1,435 $ 1,468 $ 1,673 (2)% (12)%
Noncontrolling interests 4(2) — NM —
Net income $1,431 $ 1,470 $ 1,673 (3)% (12)%
Balance Sheet data (in billions of dollars)
Average assets $ 82 $ 80 $ 80 3% —%
Return on average assets 1.77% 1.93% 2.21%
Efficiency ratio 56 59 60
Average deposits $ 46.2 $ 45 $ 45.8 3(2)
Net credit losses as a percentage of average loans 4.16% 3.81% 4.12%
Revenue by business
Retail banking $6,135 $ 5,857 $ 5,557 5% 5%
Citi-branded cards 3,183 2,901 2,990 10 (3)
Total $ 9,318 $ 8,758 $ 8,547 6% 2%
Income from continuing operations by business
Retail banking $ 833 $ 909 $ 952 (8)% (5)%
Citi-branded cards 602 559 721 8(22)
Total $ 1,435 $ 1,468 $ 1,673 (2)% (12)%
Foreign Currency (FX) Translation Impact
Total revenue-as reported $9,318 $ 8,758 $ 8,547 6% 2%
Impact of FX translation (1) —(33) (477)
Total revenues-ex-FX $9,318 $ 8,725 $ 8,070 7% 8%
Total operating expenses-as reported $5,244 $ 5,186 $ 5,093 1% 2%
Impact of FX translation (1) —(62) (326)
Total operating expenses-ex-FX $ 5,244 $ 5,124 $ 4,767 2% 7%
Provisions for LLR & PBC-as reported $2,255 $ 1,826 $ 1,310 23% 39%
Impact of FX translation (1) —(19) (104)
Provisions for LLR & PBC-ex-FX $2,255 $ 1,807 $ 1,206 25% 50%
Net income-as reported $1,431 $ 1,470 $ 1,673 (3)% (12)%
Impact of FX translation (1) —25 (82)
Net income-ex-FX $1,431 $ 1,495 $ 1,591 (4)% (6)%
(1) Reflects the impact of foreign exchange (FX) translation into U.S. dollars at 2013 average exchange rates for all periods presented.
NM Not Meaningful