Citibank 2015 Annual Report Download - page 8

The Global Consumer Bank (GCB)
operates four geographical business
lines — Branded Cards, Retail Services,
Retail Banking and Commercial Banking
— in Citi’s four regions: Asia; Europe, the
Middle East and Africa (EMEA); Latin
America; and North America. With more
than a century of enviable brand and
market leadership in markets like the U.S.,
Mexico and Asia, GCB is competitively
well-positioned to grow a high credit-
quality customer base that benefits most
from our global capabilities.
In 2015, GCB delivered meaningful
progress on strategic initiatives and
set the foundation for growth. We
streamlined our product suite and
sharpened value propositions to drive
new customer acquisition, concentrated
our retail presence in top urban centers
with our distinctive Smart Banking®
model and prioritized the digitization of
our business today to reflect the massive
shift in transaction activity to digital
channels. We also continued to simplify
and standardize systems and processes
to improve efficiency while accelerating
the completion of a uniform technology
platform in 2016.
To accelerate speed to market with next-
generation mobile banking capabilities,
we established a new unit called Citi
FinTech. This agile unit is charged with
designing a mobile banking solution that
delivers a radically simple, connected
customer experience across the full
range of client services: Borrow, Pay,
Save, Invest and Protect. In addition
Citi’s App for Apple Watch
In March 2015, Citi was the first U.S.
bank to launch a banking app designed
for Apple Watch™. The app provides Citi
U.S. debit and credit card clients with
access to their account balances, recent
transactions and real-time notifications
of credit card transactions right on their
wrist. The app heralded a radically new
visual and navigation style, based on
a single-mindedly user-centric design.
Citi’s digital team brought the app from
concept to a ready-to-launch product in
just under 120 days, illustrating the Global
Consumer Bank’s transformation into a
nimble, open banking model that can plug
into the best skills and ideas. This marked
the first time Citi was present at the birth
of a new device class from Apple.
Global Consumer
Banking
Citi’s Global Consumer
Bank serves more than
100 million customers1
in the fastest-growing
cities in 24 countries
worldwide.
to benefiting from Citi’s distinct
strengths, the team will engage the
best capabilities, talent and partners in
financial technology (FinTech) to deliver
a value proposition in the U.S. in fourth
quarter 2016.
Operating approximately 3,000 branches2
in more than 100 top cities worldwide,
GCB generated $9.8 billion in pretax
earnings, representing 43 percent of
Citicorp’s total. In 2015, the business held
$301 billion in deposits, had $391 billion in
average assets and included $281.3 billion
in average loans.
Credit Cards
Citi is the world’s largest credit card
issuer, with more than 138 million
accounts, $363.9 billion in annual
purchase sales and $133.2 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 48.2
million accounts globally. In 2015, the
business generated annual purchase
sales of $283.9 billion and had an
average loan portfolio of $89.7 billion.
In 2015, Citi Branded Cards continued
to simplify and standardize its global
product portfolio, further reducing
the number of product variations by
61 percent and rolling out common
global product platforms that increase
product competitiveness while allowing
for local customization. We introduced
1
This includes Citi Retail Services customers.
2
This does not include approximately 400 Banco de Chile branches, which are part of a joint venture between
Citi and Banco de Chile.
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