Citibank 2014 Annual Report Download - page 33

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NORTH AMERICA GCB
North America GCB provides traditional banking and Citi-branded cards and Citi retail services to retail customers and small to mid-size businesses in the
U.S. North America GCB’s 849 retail bank branches as of December 31, 2014 are largely concentrated in the greater metropolitan areas of New York, Chicago,
Miami, Washington, D.C., Boston, Los Angeles and San Francisco.
At December 31, 2014, North America GCB had approximately 11.7 million retail banking customer accounts, $46.8 billion of retail banking loans and
$171.4 billion of deposits. In addition, North America GCB had approximately 111.7 million Citi-branded and Citi retail services credit card accounts, with
$114.0 billion in outstanding card loan balances.
In millions of dollars, except as otherwise noted 2014 2013 2012
% Change
2014 vs. 2013
% Change
2013 vs. 2012
Net interest revenue $17,200 $16,658 $16,460 3% 1%
Non-interest revenue 2,445 3,118 4,490 (22) (31)
Total revenues, net of interest expense $19,645 $19,776 $20,950 (1)% (6)%
Total operating expenses $ 9,676 $ 9,850 $10,204 (2)% (3)%
Net credit losses $ 4,203 $ 4,634 $ 5,756 (9)% (19)%
Credit reserve build (release) (1,241) (1,036) (2,389) (20) 57
Provisions for benefits and claims 41 60 70 (32) (14)
Provision for unfunded lending commitments (8) 6 1 NM NM
Provisions for credit losses and for benefits and claims $ 2,995 $ 3,664 $ 3,438 (18)% 7%
Income from continuing operations before taxes $ 6,974 $ 6,262 $ 7,308 11% (14)%
Income taxes 2,553 2,352 2,744 9(14)
Income from continuing operations $ 4,421 $ 3,910 $ 4,564 13% (14)%
Noncontrolling interests (1) 2 1 NM 100
Net income $ 4,422 $ 3,908 $ 4,563 13% (14)%
Balance Sheet data (in billions of dollars)
Average assets $ 178 $ 175 $ 172 2% 2%
Return on average assets 2.48% 2.23% 2.65%
Efficiency ratio 49 50 49
Average deposits $ 170.7 $ 166.0 $ 153.9 38
Net credit losses as a percentage of average loans 2.69% 3.09% 3.83%
Revenue by business
Retail banking $ 4,901 $ 5,376 $ 6,687 (9)% (20)%
Citi-branded cards 8,282 8,211 8,234 1—
Citi retail services 6,462 6,189 6,029 43
Total $19,645 $19,776 $20,950 (1)% (6)%
Income from continuing operations by business
Retail banking $ 349 $ 411 $ 1,136 (15)% (64)%
Citi-branded cards 2,402 1,942 1,988 24 (2)
Citi retail services 1,670 1,557 1,440 78
Total $ 4,421 $ 3,910 $ 4,564 13% (14)%
NM Not meaningful