Citibank 2013 Annual Report Download - page 42

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ASIA REGIONAL CONSUMER BANKING
Asia Regional Consumer Banking (Asia RCB) provides traditional banking and Citi-branded card services to retail customers and small- to mid-size
businesses, with the largest Citi presence in Korea, Australia, Singapore, Hong Kong, Taiwan, Japan, India, Malaysia, Indonesia, Thailand and the Philippines.
At December 31, 2013, Asia RCB had 553 retail branches, approximately 16.8 million customer accounts, $71.6 billion in retail banking loans and
$101.4 billion in deposits. In addition, the business had approximately 16.6 million Citi-branded card accounts with $19.1 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 $ 4,756 $ 5,154 $ 5,377 (8)% (4)%
Non-interest revenue 2,868 2,774 2,646 35
Total revenues, net of interest expense $ 7,624 $ 7,928 $ 8,023 (4)% (1)%
Total operating expenses $4,450 $ 4,766 $ 4,632 (7)% 3%
Net credit losses $ 782 $ 841 $ 883 (7)% (5)%
Credit reserve build (release) 9(36) (63) NM 43
Provision for unfunded lending commitments 31 — — ——
Provisions for loan losses $ 822 $ 805 $ 820 2% (2)%
Income from continuing operations before taxes $ 2,352 $ 2,357 $ 2,571 —% (8)%
Income taxes 782 561 668 39 (16)
Income from continuing operations $1,570 $ 1,796 $ 1,903 (13)% (6)%
Noncontrolling interests —— — ——
Net income $1,570 $ 1,796 $ 1,903 (13)% (6)%
Balance Sheet data (in billions of dollars)
Average assets $ 129 $ 127 $ 122 2% 4%
Return on average assets 1.22% 1.41% 1.56%
Efficiency ratio 58 60 58
Average deposits $102.6 $ 110.8 $ 110.5 (7)—
Net credit losses as a percentage of average loans 0.88% 0.95% 1.03%
Revenue by business
Retail banking $4,564 $ 4,766 $ 4,968 (4)% (4)%
Citi-branded cards 3,060 3,162 3,055 (3)4
Total $ 7,624 $ 7,928 $ 8,023 (4)% (1)%
Income from continuing operations by business
Retail banking $ 848 $ 987 $ 1,214 (14)% (19)%
Citi-branded cards 722 809 689 (11)17
Total $ 1,570 $ 1,796 $ 1,903 (13)% (6)%
Foreign Currency (FX) Translation Impact
Total revenue-as reported $7,624 $ 7,928 $ 8,023 (4)% (1)%
Impact of FX translation (1) —(238) (329)
Total revenues-ex-FX $7,624 $ 7,690 $ 7,694 (1)% —%
Total operating expenses-as reported $4,450 $ 4,766 $ 4,632 (7)% 3%
Impact of FX translation (1) —(172) (240)
Total operating expenses-ex-FX $4,450 $ 4,594 $ 4,392 (3)% 5%
Provisions for loan losses-as reported $ 822 $ 805 $ 820 2% (2)%
Impact of FX translation (1) —(20) (39)
Provisions for loan losses-ex-FX $ 822 $ 785 $ 781 5% 1%
Net income-as reported $1,570 $ 1,796 $ 1,903 (13)% (6)%
Impact of FX translation (1) —(20) (26)
Net income-ex-FX $1,570 $ 1,776 $ 1,877 (12)% (5)%
(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