Citibank 2014 Annual Report Download - page 6

looked back. In 2014 alone, we lent another $9.2 billion to
American small businesses — almost double the amount of
five years prior.
All these accomplishments — and many more — have
positioned our company well for 2015 and beyond. Yet I know
full well that the future is never guaranteed. And what all of
you expect — and deserve — is nothing less than to see these
actions and investments pay off for the company’s bottom
line and in our share price. I’m confident that they will, and
that you — and the world — will soon see the full potential of
this franchise realized.
In early February, 280 of Citi’s senior leaders met for our
annual gathering to set the agenda for the year. I’ve never
left a meeting more optimistic or energized. People held
their heads high and looked forward to helping create a
bright future for this firm. We are all determined that 2015
will be the year when we demonstrate conclusively what our
company can do.
I appreciate your continued trust and confidence in me, and I
strive every day to earn them.
Sincerely,
Michael L. Corbat
Chief Executive Officer, Citigroup Inc.
and fostered deeper engagement with the Comprehensive
Capital Analysis and Review process across all our businesses.
On March 11, we received the welcome news that the Federal
Reserve raised no objection to our 2015 capital plan. That
means that, beginning in the second quarter of this year, we
will raise our quarterly dividend from one penny per share to
five cents and will begin a common stock buy-back program
of up to $7.8 billion.
These amounts are significant and the fulfillment of a
promise we made to you long ago. Yet even more important
are the changes we’ve made to our capital planning process.
We intend to be able to return capital to you on a consistent
basis going forward. And we know that, in order to do this,
all the progress we made in 2014 to improve our processes
must not only be embedded in the way we do business,
but must also continue into the future. The challenge of
constantly refining and upgrading our capital planning is now
and will remain a permanent part of our mission. The bar
will always rise for the entire industry. And Federal Reserve
officials have made clear that, because of Citi’s unique global
franchise, they will hold us to the highest standard — one we
are committed to meeting.
In 2014, we also strengthened and deepened our efforts
to help the communities we serve. For instance, Citi is
committed to supporting small businesses and helping create
jobs. Four years ago, we made a pledge to lend $24 billion
over three years to U.S. small businesses — a substantial
increase in our small business lending — and not only did we
surpass that goal, we sustained those levels and have not
The initiative has been developed in tandem with leading
national partners with demonstrated ability and capacity to
implement impactful programs and support young people
to transform ambition into achievement.
In addition to the financial investment and technical
assistance being provided by the Citi Foundation, hundreds
of Citi employees have volunteered time and expertise in
Pathways to Progress programs as coaches, mentors and
leaders of professional skill-building workshops.
This year, Pathways to Progress will expand globally to
cities outside the United States.
“I applaud the Citi Foundation and its
partners for putting the needs of our
children first and coming together on
Pathways to Progress. The innovative
partnership among these organizations
will help our nation’s young people
succeed inside and outside the classroom
while strengthening and building a
thriving middle class.”
— U.S. Department of Education Secretary Arne Duncan
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