Citibank 2014 Annual Report Download - page 7

Global Consumer Banking
s more than 96% of GCB’s existing revenue base
and concentrates resources on markets where our scale and
network provide the greatest competitive advantage.
A significant and growing contributor to the company
as a whole, in 2014, GCB generated $10 billion in pretax
earnings, more than half of Citicorp’s total, while improving
performance and profitability. Key business drivers
demonstrated strong growth: Average loans grew 3%, cards
purchase sales increased 3%, assets under management
rose 7% and average deposits were up 1%, with growth
concentrated in checking and savings accounts.
In 2014, GCB businesses held $331 billion in average
deposits, included $298 billion in average loans and
managed $173 billion in average assets. GCB operates
approximately 3,2802 branches in 700 cities worldwide.
Credit Cards
Citi is the world’s largest credit card issuer, with 139 million
accounts, $375 billion in annual purchase sales, and $142
billion in average receivables across Citi® Branded Cards and
Citi Retail Services.
Citi Branded Cards
Citi Branded Cards provides payment and credit solutions to
consumers and small businesses. With more than 50 million
accounts in circulation, in 2014, the business generated
annual purchase sales of $294 billion and held an average
loan portfolio of $99 billion.
Citi’s Global Consumer Bank is a
client-centric, urban-focused bank
serving approximately 59 million
clients in 35 countries.
The Global Consumer Bank (GCB) operates four geographical
business lines — Branded Cards, Retail Services1, Retail
Banking and Commercial Banking — in Citi’s four regions:
Asia; Europe, the Middle East and Africa (EMEA); Latin
America; and North America. Generating nearly half of its
revenues outside of North America, GCB is diversified and
well-positioned, with a strategic focus on the 100 cities in
the U.S. and top emerging markets with the highest growth
potential and where our target client segments are thriving.
The business serves a quality, globally diverse client base
through simple, flexible and powerful solutions, a network
of state-of-the-art retail branch formats, and innovative
digital offerings that aim to deliver a simple, secure and
seamless client experience.
GCB continues to simplify operations and capture global
efficiencies. In 2014, Citi announced strategic actions to
streamline its consumer footprint to the 24 markets with the
greatest scale and growth potential for the firm. As a result,
Citi is exiting Consumer operations in 11 markets as well as
its consumer finance business in Korea. The new footprint
Newly launched Citi Bike® Miami is expanding the success of the
city’s current bike share system in Miami Beach by adding 750
bikes at 70 new stations throughout downtown.
In Brazil, Citi opened a flagship branch in São Paulo with state-of-
the-art technology that showcases a differentiated level of client
service and the full breadth of its products and services.
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