Citibank 2014 Annual Report Download - page 35

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EMEA GCB
EMEA GCB provides traditional banking and Citi-branded card services to retail customers and small to mid-size businesses, primarily in Central and Eastern
Europe and the Middle East. The countries in which EMEA GCB has the largest presence are Poland, Russia and the United Arab Emirates.
At December 31, 2014, EMEA GCB had 137 retail bank branches with approximately 3.1 million retail banking customer accounts, $5.4 billion in retail
banking loans, $12.8 billion in deposits, and 2.0 million Citi-branded card accounts with $2.2 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 $ 899 $ 948 $ 1,010 (5)% (6)%
Non-interest revenue 459 501 475 (8) 5
Total revenues, net of interest expense $1,358 $ 1,449 $ 1,485 (6)% (2)%
Total operating expenses $1,283 $ 1,359 $ 1,469 (6)% (7)%
Net credit losses $ 61 $ 68 $ 105 (10)% (35)%
Credit reserve build (release) 24 (18) (5) NM NM
Provision for unfunded lending commitments 2— (1) 100 100
Provisions for credit losses $ 87 $ 50 $ 99 74% (49)%
Income (loss) from continuing operations before taxes $ (12) $ 40 $ (83) NM NM
Income taxes (benefits) (5) 5 (22) NM NM
Income (loss) from continuing operations $ (7) $ 35 $ (61) NM NM
Noncontrolling interests 20 11 4 82% NM
Net income (loss) $ (27) $ 24 $ (65) NM NM
Balance Sheet data (in billions of dollars)
Average assets $ 10 $ 10 $ 9 —% 11%
Return on average assets (0.27)% 0.24% (0.72)%
Efficiency ratio 94 94 99
Average deposits $ 13.1 $ 12.6 $ 12.6 4—
Net credit losses as a percentage of average loans 0.75% 0.85% 1.40%
Revenue by business
Retail banking $ 844 $ 868 $ 873 (3)% (1)%
Citi-branded cards 514 581 612 (12) (5)
Total $1,358 $ 1,449 $ 1,485 (6)% (2)%
Income (loss) from continuing operations by business
Retail banking $ (30) $ (42) $ (109) 29% 61%
Citi-branded cards 23 77 48 (70) 60
Total $ (7) $ 35 $ (61) NM NM
Foreign currency (FX) translation impact
Total revenues-as reported $1,358 $ 1,449 $ 1,485 (6)% (2)%
Impact of FX translation (1) —(72) (77)
Total revenues-ex-FX $1,358 $ 1,377 $ 1,408 (1)% (2)%
Total operating expenses-as reported $1,283 $ 1,359 $ 1,469 (6)% (7)%
Impact of FX translation (1) —(59) (79)
Total operating expenses-ex-FX $1,283 $ 1,300 $ 1,390 (1)% (6)%
Provisions for credit losses-as reported $ 87 $ 50 $ 99 74% (49)
Impact of FX translation (1) —(6) (6)
Provisions for credit losses-ex-FX $ 87 $ 44 $ 93 98% (53)%
Net income (loss)-as reported $ (27) $ 24 $ (65) NM NM
Impact of FX translation (1) —7 9
Net income (loss)-ex-FX $ (27) $ 31 $ (56) NM NM
(1) Reflects the impact of foreign exchange (FX) translation into U.S. dollars at the fourth quarter of 2014 average exchange rates for all periods presented.
NM Not meaningful