8-K - C - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 14, 2023

Citigroup Inc.

(Exact name of registrant as specified in its charter)


Delaware	1-9924	52-1568099
(State or other jurisdiction<br>of incorporation)	(Commission<br>File Number)	(IRS Employer<br>Identification No.)

388 Greenwich Street , New York , NY<br><br>(Address of principal executive offices)		10013 (Zip Code)

( 212 ) 559-1000

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 formatted in Inline XBRL: See Exhibit 99.3

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

CITIGROUP INC.

Current Report on Form 8-K

Item 2.02 Results of Operations and Financial Condition.

On April 14, 2023, Citigroup Inc. announced its results for the quarter ended March 31, 2023. A copy of the related press release, filed as Exhibit 99.1 to this Form 8-K, is incorporated herein by reference in its entirety and shall be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended (the Act).

In addition, a copy of the Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended March 31, 2023 is being furnished as Exhibit 99.2 to this Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Act or otherwise subject to the liabilities of that section.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	****

99.1		Citigroup Inc. press release dated April 14, 2023.

99.2		Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended March 31, 2023.

99.3		Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.

104.1		See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		CITIGROUP INC.

Dated: April 14, 2023
	By:	/s/ Johnbull E. Okpara
		Johnbull E. Okpara
		Controller and Chief Accounting Officer
		(Principal Accounting Officer)

Exhibit 99.1

<br><br><br><br>
For Immediate Release<br><br>Citigroup Inc. (NYSE: C)<br><br>April 14, 2023	****
FIRST QUARTER 2023 RESULTS AND KEY METRICS<br><br>		CEO COMMENTARY
RETURNED $1.0 BILLION IN DIVIDENDS TO COMMON SHAREHOLDERS<br><br>PAYOUT RATIO OF 23%^(3)^<br><br>BOOK VALUE PER SHARE OF $96.59<br><br>TANGIBLE BOOK VALUE PER SHARE OF $84.21^(4)^<br><br><br><br>New York, April 14, 2023 – Citigroup Inc. today reported net income for the first quarter 2023 of $4.6 billion, or $2.19 per diluted share, on revenues of $21.4 billion. This compares to net income of $4.3 billion, or $2.02 per diluted share, on revenues of $19.2 billion for the first quarter 2022.<br><br>First quarter results included divestiture-related impacts of $953^(5)^ million in earnings before taxes ($648 million after-tax), primarily driven by a gain on the sale of the India consumer business, recorded in Legacy Franchises. Excluding these divestiture-related impacts, earnings per share was $1.86^(5)^. This compares to divestiture-related impacts in the first quarter 2022 of $(677) million^(5)^ in earnings before taxes ($(588) million after-tax), primarily driven by goodwill impairment related to Asia Consumer Banking, also recorded in Legacy Franchises.<br><br>Revenues increased 12% from the prior-year period and 6% excluding the divestiture-related impacts^(5)^, as growth in net interest income was partially offset by lower non-interest revenues. The higher net interest income was driven by the impact of higher interest rates across businesses, including Services and Markets in Institutional Clients Group (ICG), as well as strong growth in average loans in US Personal Banking within Personal Banking and Wealth Management (PBWM). The lower non-interest revenues reflected declines in Investment Banking and Markets in ICG and lower investment product revenues in Global Wealth Management in PBWM.<br><br>Net income of $4.6 billion increased 7% from the prior-year period, and decreased 19% excluding the divestiture-related impacts^(5)^. The increase in net income was primarily driven by the higher revenue, partially offset by higher expenses and higher cost of credit.<br><br>Earnings per share of $2.19 increased 8% from the prior-year period, reflecting the higher net income and an approximate 1% decline in average diluted shares outstanding.<br><br>		<br><br>Citi CEO Jane Fraser said, "Citi delivered strong operating performance, showing good revenue growth and expense discipline despite the tumultuous environment for banks. Our robust and well-managed balance sheet was a source of strength for our clients and we continue making progress in executing our strategy focused on our five core interconnected businesses while simplifying and transforming the firm.<br><br>"TTS continued to perform extremely well, growing non-interest revenue on new mandates and strong cross-border activity. Markets saw the third best quarter in the last decade in Fixed Income. Banking activity picked up from the end of 2022. Our two cards businesses are showing momentum. While it is not an ideal environment for wealth management, the drivers of this business continue to be very positive, and we announced that Andy Sieg will be joining us as its CEO later this year.<br><br>"We closed the sale of two consumer franchises, which contributed to our healthy pace of capital generation. We ended the quarter with a CET1 ratio of 13.4%. We are committed to increasing the amount of excess capital we return over time as well as delivering with excellence for our clients and shareholders," Ms. Fraser concluded.

Percentage comparisons throughout this press release are calculated for the first quarter 2023 versus the first quarter 2022, unless otherwise specified.

First Quarter Financial Results


Citigroup( in millions, except per share amounts and as otherwise noted)	1Q'23		****	4Q'22		****	1Q'22		QoQ%	YoY%
Institutional Clients Group	$	11,233		$	9,159		$	11,160	23%	1%
Personal Banking and Wealth Management		6,448			6,096			5,905	6%	9%
Legacy Franchises		2,852			2,052			1,931	39%	48%
Corporate / Other		914			699			190	31%	NM
Total revenues, net of interest expense		21,447			18,006			19,186	19%	12%

Total operating expenses		13,289			12,985			13,165	2%	1%

Net credit losses		1,302			1,180			872	10%	49%
Net ACL build / (release)(a)		241			640			(138)	(62)%	NM
Other provisions(b)		432			25			21	NM	NM
Total cost of credit		1,975			1,845			755	7%	NM

Income from continuing operations before income taxes		6,183			3,176			5,266	95%	17%
Provision for income taxes		1,531			640			941	NM	63%
Income from continuing operations		4,652			2,536			4,325	83%	8%
Income (loss) from discontinued operations, net of taxes		(1)			(2)			(2)	50%	50%
Net income attributable to non-controlling interest		45			21			17	NM	NM
Citigroup's net income	$	4,606		$	2,513		$	4,306	83%	7%

Income (loss) from continuing operations, net of taxes
Institutional Clients Group		3,298			1,916			2,658	72%	24%
Personal Banking and Wealth Management		489			114			1,860	NM	(74)%
Legacy Franchises		606			75			(385)	NM	NM
Corporate / Other		259			431			192	(40)%	35%

EOP loans (B)		652			657			660	(1)%	(1)%
EOP assets (B)		2,455			2,417			2,394	2%	3%
EOP deposits (B)		1,330			1,366			1,334	(3)%	-

Book value per share	$	96.59		$	94.06		$	92.03	3%	5%
Tangible book value per share(4)	$	84.21		$	81.65		$	79.03	3%	7%
Common Equity Tier 1 (CET1) Capital ratio(2)		13.4%			13.0%			11.4%
Supplementary Leverage ratio (SLR)(2)		5.9%			5.8%			5.6%
Return on average common equity		9.5%			5.0%			9.0%
Return on average tangible common equity (RoTCE)(1)		10.9%			5.8%			10.5%

All values are in US Dollars.

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions for policyholder benefits and claims, HTM debt securities and other assets.

Citigroup

Citigroup revenues of $21.4 billion in the first quarter 2023 increased 12%. Excluding the divestiture-related impacts, primarily driven by the gain on the sale of the India consumer business in the current quarter, revenues were up 6%. The higher revenues reflected strength across Services and Fixed Income Markets, as well as strong average loan growth in US Personal Banking. The higher revenues were partially offset by a decline in Investment Banking and Equity Markets and lower investment product revenues in Global Wealth Management, as well as impacts from the closed exit markets and wind-downs.

Citigroup operating expenses of $13.3 billion in the first quarter 2023 increased 1%. Operating expenses included approximately $73 million of divestiture-related costs in the current quarter, compared to approximately $559 million in the prior-year period. Excluding these costs in both periods, expenses increased 5%, largely driven by transformation investments and other risk and control investments, resulting in an increase in direct staff, driving higher compensation and benefits. This increase in expenses was also driven by the impact of inflation and severance costs. The increase in expenses was partially offset by the benefit of productivity savings and foreign exchange translation as well as expense reduction from the closed exit markets and wind-downs.

Citigroup cost of credit was approximately $2.0 billion in the first quarter 2023, compared to $0.8 billion in the prior-year period, reflecting a net build in the allowance for credit losses (ACL) for loans and unfunded commitments of $241 million 2

and other provisions of $432 million, primarily driven by macroeconomic deterioration and growth in card revolving balances in PBWM. This compared to a net ACL release for loans and unfunded commitments of $(138) million in the prior-year period. The higher cost of credit also reflected higher net credit losses, primarily driven by ongoing normalization in Branded Cards and Retail Services.

Citigroup net income of $4.6 billion in the first quarter 2023 increased 7% from the prior-year period, primarily driven by the higher revenue, partially offset by the higher expenses and the higher cost of credit. Citigroup’s effective tax rate was approximately 25% in the current quarter, including the impact of divestitures, versus 18% in the first quarter 2022, which had higher discrete tax benefits.

Citigroup’s total allowance for credit losses on loans was approximately $17.2 billion at quarter end, with a reserve-to-funded loans ratio of 2.65%, compared to $15.4 billion, or 2.35% of funded loans, at the end of the prior-year period. Total non-accrual loans decreased 23% from the prior-year period to $2.6 billion. Consumer non-accrual loans decreased 8% to $1.4 billion and corporate non-accrual loans decreased 35% to $1.2 billion.

Citigroup’s end-of-period loans were $652 billion at quarter end, down 1% versus the prior-year period, as growth in PBWM was more than offset by a decline in ICG and Legacy Franchises.

Citigroup’s end-of-period deposits were approximately $1.3 trillion at quarter end, largely unchanged versus the prior-year period, as a decrease in PBWM, largely reflecting Wealth clients putting cash to work in fixed income investments on the businesses’ platform, was offset by an increase in institutional certificates of deposit in Corporate/Other.

Citigroup’s book value per share of $96.59 and tangible book value per share of $84.21 at quarter end increased 5% and 7%, respectively, versus the prior-year period, largely driven by net income, partially offset by adverse movements in the accumulated other comprehensive income (AOCI) component of equity and the payment of common dividends. At quarter end, Citigroup’s CET1 capital ratio was 13.4% versus 13.0% in the prior quarter, largely driven by the benefits of net income, closing of exit markets, and positive AOCI impact through Citigroup’s investment portfolio. The increase in the CET1 capital ratio was partially offset by the payment of common dividends. Citigroup’s Supplementary Leverage ratio for the first quarter 2023 was 5.9% versus 5.8% in the prior quarter. During the quarter, Citigroup returned a total of $1 billion to common shareholders in the form of dividends.


Institutional Clients Group( in millions, except as otherwise noted)	1Q'23		****	4Q'22		****	1Q'22		QoQ%	YoY%
Securities Services	$	1,056		$	1,040		$	858	2%	23%
Treasury and Trade Solutions		3,411			3,286			2,607	4%	31%
Total Services revenues		4,467			4,326			3,465	3%	29%
Fixed Income Markets		4,454			3,211			4,289	39%	4%
Equity Markets		1,147			733			1,520	56%	(25)%
Total Markets revenues		5,601			3,944			5,809	42%	(4)%
Investment Banking		774			645			1,028	20%	(25)%
Corporate Lending(a)		590			544			689	8%	(14)%
Total Banking revenues(a)		1,364			1,189			1,717	15%	(21)%
Product revenues, net of interest expense(a)		11,432			9,459			10,991	21%	4%
Gain / (loss) on loan hedges		(199)			(300)			169	34%	NM
Total revenues, net of interest expense		11,233			9,159			11,160	23%	1%

Total operating expenses		6,973			6,601			6,723	6%	4%

Net credit losses		22			104			30	(79)%	(27)%
Net ACL build / (release)(b)		(245)			(54)			948	NM	NM
Other provisions(c)		151			6			(7)	NM	NM
Total cost of credit		(72)			56			971	NM	NM

Net income	$	3,258		$	1,896		$	2,640	72%	23%

Services Key Drivers
Cross border transaction value (B)		83			81			76	2%	10%
Commercial card spend volume (B)		16			15			11	4%	40%
US dollar clearing volume (#MM)		38			38			36	-	6%
Assets under custody and/or administration (AUC/AUA) (T)		23			22			23	4%	-

All values are in US Dollars.

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Excludes gain / (loss) on credit derivatives as well as the mark-to-market on loans at fair value. For additional information, please refer to Footnote 6.

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments. 3

Institutional Clients Group

ICG revenues of $11.2 billion were up 1% (including gain/(loss) on loan hedges)^(6)^, as strength in Treasury and Trade Solutions (TTS), Securities Services, and Fixed Income Markets was partially offset by declines in Banking and Equity Markets.

Services revenues of $4.5 billion increased 29%. TTS revenues of $3.4 billion increased 31%, driven by 41% growth in net interest income and 13% growth in non-interest revenue. Strong performance in TTS was driven by higher interest rates and business actions, which included growing deposits, managing repricing, and driving fee growth. Securities Services revenues of $1.1 billion increased 23%, as net interest income increased 94%, driven by higher interest rates across currencies, partially offset by a 6% decrease in non-interest revenue due to the impact of lower market valuations on assets under custody and administration.

Markets revenues of $5.6 billion decreased 4%, as growth in Fixed Income Markets was more than offset by a decline in Equity Markets. Fixed Income Markets revenues of $4.5 billion increased 4%, largely driven by strength in rates and currencies, partially offset by lower revenues in spread products / other fixed income. Equity Markets revenues of $1.1 billion were down 25%, primarily reflecting reduced client activity in cash and equity derivatives relative to a very strong quarter last year.

Banking revenues of $1.2 billion decreased 38%, including gain/loss on loan hedges in the current quarter and the prior-year period. Excluding gain/loss on loan hedges^(6)^, Banking revenues of $1.4 billion decreased 21%, driven by lower revenues in Investment Banking and Corporate Lending. Investment Banking revenues of $774 million decreased 25%, as continued geopolitical uncertainty, heightened macroeconomic uncertainty and volatility continued to impact client activity. Excluding gain/loss on loan hedges^(6)^, Corporate Lending revenues decreased 14% versus the prior-year period, driven by lower volumes and higher credit default swap premiums.

ICG operating expenses of $7.0 billion increased 4%, driven by transformation investments, other risk and control investments, and volume-related expenses, partially offset by the impacts of foreign exchange translation and productivity savings.

ICG cost of credit of $(72) million, compared to $971 million in the prior-year period, included a net ACL release for loans and unfunded commitments of $(245) million, other provisions of $151 million, and net credit losses of $22 million.

ICG net income **** of $3.3 billion increased 23%, largely driven by the lower cost of credit and the higher revenues, partially offset by the higher expenses.


Personal Banking and Wealth Management( in millions, except as otherwise noted)	1Q'23		****	4Q'22		****	1Q'22		QoQ%	YoY%
Branded Cards	$	2,466		$	2,376		$	2,090	4%	18%
Retail Services		1,613			1,420			1,299	14%	24%
Retail Banking		613			608			595	1%	3%
Total US Personal Banking revenues		4,692			4,404			3,984	7%	18%
Private Bank		567			589			779	(4)%	(27)%
Wealth at Work		193			195			183	(1)%	5%
Citigold		996			908			959	10%	4%
Total Global Wealth Management revenues		1,756			1,692			1,921	4%	(9)%
Total revenues, net of interest expense		6,448			6,096			5,905	6%	9%

Total operating expenses		4,254			4,307			3,889	(1)%	9%

Net credit losses		1,094			908			691	20%	58%
Net ACL build / (release)(a)		501			752			(1,064)	(33)%	NM
Other provisions(b)		(4)			6			(3)	NM	(33)%
Total cost of credit		1,591			1,666			(376)	(5)%	NM

Net income	$	489		$	114		$	1,860	NM	(74)%

Key Indicators (B)
US Personal Banking average loans		183			180			161	2%	14%
US Personal Banking average deposits		111			111			118	-	(6)%
US cards average loans		146			143			128	2%	14%
US credit card spend volume(c)		137			152			128	(10)%	7%
Global Wealth Management client assets		759			746			788	2%	(4)%
Global Wealth Management average loans		150			150			151	-	(1)%
Global Wealth Management average deposits		323			320			329	1%	(2)%

All values are in US Dollars.

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions for policyholder benefits and claims, HTM debt securities and other assets.

Personal Banking and Wealth Management

PBWM revenues of $6.4 billion increased 9%, as net interest income growth, driven by strong loan growth across US Personal Banking, was partially offset by a decline in non-interest revenue, driven by the lower investment product revenues in Global Wealth Management.

US Personal Banking revenues of $4.7 billion increased 18%. Branded Cards revenues of $2.5 billion increased 18%, primarily driven by the higher net interest income as card spend volumes increased 9% and average loans increased 15%. Retail Services revenues of $1.6 billion increased 24%, primarily driven by the higher net interest income. Retail Banking revenues of $613 million increased 3%, primarily driven by higher mortgage revenue and strong growth in installment lending, partially offset by the impact of the transfer of relationships and the associated deposit balances to Global Wealth Management.

Global Wealth Management revenues of $1.8 billion decreased 9%, driven by investment product revenue headwinds and higher interest rates paid on deposits, particularly in the Private Bank.

PBWM operating expenses of $4.3 billion increased 9%, primarily driven by investments in transformation and other risk and control investments.

PBWM cost of credit was $1.6 billion, compared to $(376) million in the prior-year period. The increase was largely driven by a net build in the ACL for loans and unfunded commitments of $501 million in the current quarter, primarily driven by a deterioration in macroeconomic assumptions and growth in card revolving balances, compared to a net ACL release of $1.1 billion in the prior-year period. Net credit losses of $1.1 billion increased 58% from near historically low levels, reflecting ongoing normalization in Branded Cards and Retail Services.

PBWM net income of $489 million decreased 74%, driven by the higher cost of credit and the higher expenses, partially offset by the higher revenues.


Legacy Franchises( in millions, except as otherwise noted)	1Q'23		****	4Q'22		****	1Q'22		QoQ%	YoY%
Asia Consumer	$	1,509		$	772		$	787	95%	92%
Mexico Consumer/SBMM(a)		1,322			1,255			1,139	5%	16%
Legacy Holdings Assets		21			25			5	(16)%	NM
Total Legacy revenues, net of interest expense		2,852			2,052			1,931	39%	48%

Total operating expenses		1,752			1,830			2,293	(4)%	(24)%

Net credit losses		186			168			151	11%	23%
Net ACL build / (release)(b)		(15)			(58)			(22)	74%	32%
Other provisions(c)		174			13			31	NM	NM
Total cost of credit		345			123			160	NM	NM

Net income (loss)	$	604		$	72		$	(383)	NM	NM

Key Indicators (B)
Asia Consumer EOP loans		10			13			20	(25)%	(49)%
Asia Consumer EOP deposits		14			15			18	(1)%	(18)%
Mexico Consumer/SBMM EOP loans(a)		24			22			21	10%	16%
Mexico Consumer/SBMM EOP deposits(a)		38			37			34	5%	13%
Legacy Holdings EOP loans		3			3			4	(7)%	(24)%

All values are in US Dollars.

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) SBMM refers to Small Business & Middle Market Banking.

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

Legacy Franchises

Legacy Franchises revenues of $2.9 billion increased 48%, primarily driven by the gain on the sale of the India consumer business, partially offset by the absence of closed exit markets and wind-downs.

Legacy Franchises expenses of $1.8 billion decreased 24%, largely driven by the absence of the goodwill impairment in Asia recorded in the prior-year period and the benefit of the closed exit markets and wind-downs.

Legacy Franchises cost of credit was $345 million, compared to $160 million in the prior-year period, and included net credit losses of $186 million, other provisions of $174 million driven by macroeconomic deterioration, and a net ACL release of $15 million.

Legacy Franchises net income was $604 million, compared to a net loss of $(383) million in the prior-year period, primarily reflecting the higher revenues and the lower expenses, partially offset by the higher cost of credit.

3
Corporate / Other( in millions)	1Q'23		****	4Q'22		****	1Q'22		QoQ%	YoY%
Revenues, net of interest expense	$	914		$	699		$	190	31%	NM

Total operating expenses		310			247			260	26%	19%

Total cost of credit(a)		111			-			-	NM	NM

Income (loss) from continuing operations		259			431			192	(40)%	35%

Net income (loss)	$	255		$	431		$	189	(41)%	35%

All values are in US Dollars.

(a) Includes provisions for HTM debt securities and other assets.

Corporate / Other

Corporate / Other revenues increased to $914 million from $190 million in the prior-year period, largely driven by higher net revenue from the investment portfolio, primarily due to higher interest rates.

Corporate / Other expenses of $310 million increased 19%, driven by increases in transformation and other risk and control investments, partially offset by lower consulting expenses.

Corporate / Other cost of credit of $111 million was driven by a reserve build.

Corporate / Other income from continuing operations was $259 million, compared to $192 million in the prior-year period, largely reflecting the higher net revenue from the investment portfolio.

Citigroup will host a conference call today at 11:00 AM (ET). A live webcast of the presentation, as well as financial results and presentation materials, will be available at www.citigroup.com/citi/investor. Dial-in numbers for the conference call are as follows: (800) 343-1703 (for U.S. and Canada callers) or (785) 424-1226 (for international callers).

Additional financial, statistical and business-related information, as well as business and segment trends, is included in a Quarterly Financial Data Supplement. Both this earnings release and Citigroup’s First Quarter 2023 Quarterly Financial Data Supplement are available on Citigroup’s website at www.citigroup.com.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Certain statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors. These factors include, among others: continued elevated levels of inflation and its impacts; elevated interest rates and the impacts on macroeconomic conditions, customer and client behavior, as well as Citi’s funding costs; potential recessions in the U.S., Europe and other countries; Citi’s ability to execute against its transformation and other strategic initiatives, including consummation of its remaining exits and wind-downs and any loss on sale and temporary capital impacts related to currency translation adjustment (CTA) losses and other impacts; the impacts related to or resulting from recent bank failures and other volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; the impacts related to or resulting from Russia’s war in Ukraine; and the precautionary statements included in this release. These factors also consist of those contained in Citigroup’s filings with the U.S. Securities Exchange and Commission, including without limitation the “Risk Factors” section of Citigroup’s 2022 Form 10-K. Any forward-looking statements made by or on behalf of Citigroup speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Contacts:
Investors: Jennifer Landis (212) 559-2718
Press: Danielle Romero-Apsilos (212) 816-2264

Appendix A


Citigroup (in millions)
Net Income	$	4,606
Less: Preferred Dividends		277
Net Income to Common Shareholders	$	4,329

Common Share Repurchases		-
Common Dividends		1,000
Total Capital Returned to Common Shareholders	$	1,000

Payout Ratio		23%

Average TCE	$	161,050

RoTCE		10.9%

All values are in US Dollars.

Appendix B


Citigroup ( in millions, except per share amounts)	1Q'23		****	1Q'22		YoY
Total Citigroup Revenues - As Reported	$	21,447		$	19,186	12%
Less:
Total Divestiture Impact on Revenue(5)	$	1,018		$	(47)
Total Citigroup Revenues, Excluding Divestiture Impacts	$	20,429		$	19,233	6%
Total Citigroup Operating Expenses - As Reported	$	13,289		$	13,165	1%
Less:
Total Divestiture Impact on Operating Expenses(5)	$	73		$	559
Total Citigroup Operating Expenses, Excluding Divestiture Impacts	$	13,216		$	12,606	5%

Total Citigroup Cost of Credit - As Reported	$	1,975		$	755	NM
Less:
Total Divestiture Impact on Cost of Credit(5)		(8)			71
Total Citigroup Cost of Credit, Excluding Divestiture Impacts	$	1,983		$	684	NM
						****
Total Citigroup Net Income - As Reported	$	4,606		$	4,306	7%
Less:
Total Divestiture Impact on Revenue(5)		1,018			(47)
Total Divestiture Impact on Operating Expenses(5)		73			559
Total Divestiture Impact on Cost of Credit(5)		(8)			71
Total Divestiture Impact on Taxes(5)		305			(89)
Total Citigroup Net Income, Excluding Divestiture Impacts	$	3,958		$	4,894	(19%)
		****
Citigroup Diluted EPS - As Reported	$	2.19
Less:
Total Divestiture Impact on Citigroup Diluted EPS(5)	$	0.33
Citigroup Diluted EPS, Excluding Divestiture Impacts	$	1.86

All values are in US Dollars.

Appendix C


(in millions)		1Q'23^(1)^		4Q'22		1Q'22


Citigroup Common Stockholders' Equity(2)	$	188,186	$	182,325	$	178,845
Add: Qualifying noncontrolling interests		137		128		126
Regulatory Capital Adjustments and Deductions:		****
Add: CECL transition provision(3)		1,514		2,271		2,271
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(2,161)		(2,522)		(1,440)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		1,037		1,441		27
Intangible Assets:
Goodwill, net of related deferred tax liabilities (DTLs)(4)		18,844		19,007		20,120
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,607		3,411		3,698
Defined benefit pension plan net assets; other		1,999		1,935		2,230
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards(5)		11,783		12,197		11,701
Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs(5)(6)		1,052		325		1,157

Common Equity Tier 1 Capital (CET1)	$	153,676	$	148,930	$	143,749
		****		****		****
Risk-Weighted Assets (RWA)(3)	$	1,144,592	$	1,142,985	$	1,257,293
		****
Common Equity Tier 1 Capital Ratio (CET1 / RWA)		13.4%		13.0%		11.4%

All values are in US Dollars.

Note:	Citi’s binding CET1 Capital ratios were derived under the Basel III Standardized Approach for all periods reflected.
(1)	Preliminary.
---	---
(2)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
---	---
(3)	Please refer to Footnote 2 at the end of this press release for additional information.
---	---
(4)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.
---	---
(5)	Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit and general business credit tax carry-forwards and DTAs arising from timing differences (future deductions) that are deducted from CET1 capital exceeding the 10% limitation.
---	---
(6)	Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
---	---

Appendix D


(in millions)		1Q'23^(1)^	****		4Q'22	****		1Q'22

Common Equity Tier 1 Capital (CET1)(2)	$	153,676		$	148,930		$	143,749
		****
Additional Tier 1 Capital (AT1)(3)		21,499			20,215			20,266
		****
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	175,175		$	169,145		$	164,015
		****
Total Leverage Exposure (TLE)(2)	$	2,944,452		$	2,906,773		$	2,939,533
		****
Supplementary Leverage Ratio (T1C / TLE)		5.9%			5.8%			5.6%

All values are in US Dollars.

(1)Preliminary.

(2)Please refer to Footnote 2 at the end of this press release for additional information.

(3)Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

Appendix E

( and shares in millions, except per share amounts)		1Q'23^(1)^		4Q'22		1Q'22

Common Stockholders' Equity	$	188,050	$	182,194	$	178,714
Less:
Goodwill		19,882		19,691		19,865
Intangible Assets (other than MSRs)		3,974		3,763		4,002
Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Assets Held-for-Sale		246		589		1,384
Tangible Common Equity (TCE)	$	163,948	$	158,151	$	153,463

Common Shares Outstanding (CSO)		1,947		1,937		1,942

Tangible Book Value Per Share	$	84.21	$	81.65	$	79.03

All values are in US Dollars.

(1)	Preliminary.

Appendix F


( and shares in millions, except per share amounts)		1Q'23^(1)^	****		4Q'22	****		1Q'22	****	% Δ QoQ	****	% Δ YoY

Total Banking Revenues – As Reported	$	1,165		$	889		$	1,886		31	%	(38)	%
Less:
Gain/(loss) on loan hedges(6)	$	(199)		$	(300)		$	169
Total Banking Revenues – Excluding Gain/(loss) on loan hedges	$	1,364		$	1,189		$	1,717		15	%	(21)	%

All values are in US Dollars.

Appendix G


( and shares in millions, except per share amounts)		1Q'23^(1)^	****		4Q'22	****		1Q'22	****	% Δ QoQ	****	% Δ YoY

Banking Corporate Lending Revenues – As Reported	$	391		$	224		$	858		60	%	(54)	%
Less:
Gain/(loss) on loan hedges(6)	$	(199)		$	(300)		$	169
Banking Corporate Lending Revenues – Excluding Gain/(loss) on loan hedges	$	590		$	544		$	689		8	%	(14)	%

All values are in US Dollars.

^(1)^ Preliminary. Citigroup’s return on average tangible common equity (RoTCE) is a non-GAAP financial measure. RoTCE represents annualized net income available to common shareholders as a percentage of average tangible common equity (TCE). For the components of the calculation, see Appendix A. See Appendix E for a reconciliation of common equity to tangible common equity.

^(2)^Ratios as of March 31, 2023 are preliminary. Citigroup’s Common Equity Tier 1 (CET1) Capital ratio and Supplementary Leverage ratio (SLR) reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. Excluding these deferrals, Citigroup’s CET1 Capital ratio and SLR as of March 31, 2023 would be 13.3% and 5.9%, respectively, on a fully reflected basis. For additional information, see “Capital Resources—Regulatory Capital Treatment—Modified Transition of the current expected” in Citigroup’s 2022 Annual Report on Form 10-K.

For the composition of Citigroup’s CET1 Capital and ratio, see Appendix C. For the composition of Citigroup’s SLR, see Appendix D.

^(3)^ Citigroup’s payout ratio is the sum of common dividends and common share repurchases divided by net income available to common shareholders. For the components of the calculation, see Appendix A.

^(4)^ Citigroup’s tangible book value per share is a non-GAAP financial measure. See Appendix E for a reconciliation of common equity to tangible common equity and resulting calculation of tangible book value per share.

^(5)^ First quarter 2023 results included divestiture-related impacts of $953 million in earnings before taxes ($648 million after-tax), primarily recorded in Legacy Franchises. This amount included (i) $1 billion primarily related to the gain on sale of the India consumer business, recorded in Other revenue; (ii) $73 million of aggregate divestiture-related costs, recorded in Operating expenses; (iii) a $8 million benefit of divestiture-related credit costs; and (iv) and related taxes of $305 million.

First quarter 2022 results included Asia Consumer Banking divestiture-related impacts of $(677) million in earnings before taxes ($(588) million after-tax), recorded in Legacy Franchises, reflecting (i) the revenue impact from a pretax loss due to the sale of the Australia consumer business of $(118) million; this pretax loss included an ACL release of $(104) million and a net revenue impact of $(14) million due to contractual adjustments of the divestiture recorded in Other revenue; (ii) revenues and credit costs also exclude a cost of credit reclass of approximately $71 million, as once a divestiture is classified as held for sale, credit costs, including ACL builds/releases and NCL’s are reclassified to Other Revenue; (iii) the operating expense impact related to a goodwill write-down of approximately $535 million due to the re-segmentation and sequencing of divestitures, as well as costs related to the Korea Voluntary Early Retirement Program (VERP) of $24 million ; and (iv) related taxes of $(89) million.

Results of operations excluding these divestiture-related impacts are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix B.

^(6)^ Credit derivatives are used to economically hedge a portion of the Corporate Lending portfolio that includes both accrual loans and loans at fair value. Gain / (loss) on loan hedges includes the mark-to-market on the credit derivatives and the mark-to-market on the loans in the portfolio that are at fair value. In the first quarter 2023, gain / (loss) on loan hedges included $(199) million related to Corporate Lending, compared to $169 million in the prior-year period. The fixed premium costs of these hedges are netted against the Corporate Lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain / (loss) on loan hedges are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix F and G. 12

Exhibit 99.2


CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT	1Q23


		Page
	Citigroup
	Financial Summary	1
	Consolidated Statement of Income	2
	Consolidated Balance Sheet	3
	Operating Segment and Reporting Unit - Net Revenues and Income	4

	Institutional Clients Group (ICG)	5
	Reporting Unit Revenues	6
	Personal Banking and Wealth Management (PBWM)	7
	Metrics	8
	Legacy Franchises	9
	Corporate / Other	10

	Citigroup Supplemental Detail
	Average Balances and Interest Rates	11
	EOP Loans	12
	Deposits	13
	Allowance for Credit Losses (ACL) Rollforward	14
	Allowance for Credit Losses on Loans and Unfunded Lending Commitments	15 - 16
	Non-Accrual Assets	17
	CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity,	18
	Book Value Per Share and Tangible Book Value Per Share

CITIGROUP FINANCIAL SUMMARY

(In millions of dollars, except per share amounts and as otherwise noted)


											1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2022		2022		2022		2022		2023		4Q22	1Q22

Total revenues, net of interest expense^(1)(2)^	$	19,186	$	19,638	$	18,508	$	18,006	$	21,447	19%	12%
Total operating expenses		13,165		12,393		12,749		12,985		13,289	2%	1%
Net credit losses (NCLs)		872		850		887		1,180		1,302	10%	49%
Credit reserve build / (release) for loans		(612)		534		441		593		435	(27%)	NM
Provision / (release) for unfunded lending commitments		474		(159)		(71)		47		(194)	NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		21		49		108		25		432	NM	NM
Provisions for credit losses and for benefits and claims		755		1,274		1,365		1,845		1,975	7%	NM
Income from continuing operations before income taxes		5,266		5,971		4,394		3,176		6,183	95%	17%
Income taxes		941		1,182		879		640		1,531	NM	63%
Income from continuing operations		4,325		4,789		3,515		2,536		4,652	83%	8%
Income (loss) from discontinued operations, net of taxes^(3)^		(2)		(221)		(6)		(2)		(1)	50%	50%
Net income before noncontrolling interests		4,323		4,568		3,509		2,534		4,651	84%	8%
Net income (loss) attributable to noncontrolling interests		17		21		30		21		45	NM	NM
Citigroup's net income	$	4,306	$	4,547	$	3,479	$	2,513	$	4,606	83%	7%

Diluted earnings per share:
Income from continuing operations	$	2.02	$	2.30	$	1.63	$	1.16	$	2.19	89%	8%
Citigroup's net income	$	2.02	$	2.19	$	1.63	$	1.16	$	2.19	89%	8%

Preferred dividends	$	279	$	238	$	277	$	238	$	277	16%	(1%)

Income allocated to unrestricted common shareholders - basic
Income from continuing operations	$	4,004	$	4,495	$	3,180	$	2,253	$	4,296	91%	7%
Citigroup's net income	$	4,002		4,274	$	3,174	$	2,251	$	4,295	91%	7%

Income allocated to unrestricted common shareholders - diluted
Income from continuing operations	$	4,012	$	4,506	$	3,191	$	2,264	$	4,307	90%	7%
Citigroup's net income	$	4,010	$	4,285	$	3,185	$	2,262	$	4,306	90%	7%

Shares (in millions):
Average basic		1,971.7		1,941.5		1,936.8		1,936.9		1,943.5	-	(1%)
Average diluted		1,988.2		1,958.1		1,955.1		1,955.9		1,964.1	-	(1%)
Common shares outstanding, at period end		1,941.9		1,936.7		1,936.9		1,937.0		1,946.8	1%	-


Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(4)(5)(6)^		11.43%		11.95%		12.29%		13.03%		13.4%
Tier 1 Capital ratio^(4)(5)(6)^		13.05%		13.62%		14.01%		14.80%		15.3%
Total Capital ratio^(4)(5)(6)^		14.84%		15.20%		15.09%		15.46%		15.6%
Supplementary Leverage ratio (SLR)^(4)(6)(7)^		5.58%		5.66%		5.71%		5.82%		5.9%
Return on average assets		0.74%		0.77%		0.58%		0.41%		0.76%
Return on average common equity		9.0%		9.7%		7.1%		5.0%		9.5%
Average tangible common equity (TCE) (in billions of dollars)	$	155.3	$	154.4	$	155.5	$	156.9	$	161.1	3%	4%
Return on average tangible common equity^^(RoTCE)		10.5%		11.2%		8.2%		5.8%		10.9%
Efficiency ratio (total operating expenses/total revenues, net)		68.6%		63.1%		68.9%		72.1%		62.0%	(1,010) bps	(660) bps

Balance sheet data (in billions of dollars, except per share amounts):
Total assets	$	2,394.1	$	2,380.9	$	2,381.1	$	2,416.7	$	2,455.1	2%	3%
Total average assets		2,374.0		2,380.1		2,399.4		2,430.6		2,462.2	1%	4%
Total loans		659.7		657.3		646.0		657.2		652.0	(1%)	(1%)
Total deposits		1,333.7		1,321.8		1,306.5		1,366.0		1,330.5	(3%)	-
Citigroup's stockholders' equity		197.7		199.0		198.6		201.2		208.3	4%	5%
Book value per share		92.03		92.95		92.71		94.06		96.59	3%	5%
Tangible book value per share		79.03		80.25		80.34		81.65		84.21	3%	7%

Direct staff (in thousands)		228		231		238		240		240	-	5%



	(1)1Q23 includes an approximate 1.059 billion gain on sale recorded in Other revenue (approximately 727 million after various taxes) related to Citi's sale of the India consumer banking business.(2)3Q22 includes an approximate 616 million gain on sale recorded in Other revenue (approximately 290 million after various taxes) related to Citi's sale of the Philippines consumer banking business.(3)2Q22 discontinued operations reflects the release of a currency translation adjustment (CTA) loss (net of hedges) recorded in Accumulated Other Comprehensive Income (AOCI) related to the substantial liquidation of a legal entity (with a non-U.S. dollar functional currency), that had previously divested a legacy business.(4)1Q23 is preliminary.(5)Citi's binding CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Standardized Approach, whereas Citi's binding Total Capital ratios were derived under the Basel III Advanced Approaches framework for all periods presented. For the composition of Citi's CET1 Capital and ratio, see page 18.(6)Citi's regulatory capital ratios and components reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. For additional information, see "Capital Resources-Regulatory Capital Treatment-Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2022 Annual Report on Form 10-K.(7)For the composition of Citi's SLR, see page 18.Note: Ratios and variance percentages are calculated based on the displayed amounts.NM Not meaningful.Reclassified to conform to the current period's presentation.

All values are in US Dollars.

Page1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

											1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2022		2022		2022		2022		2023		4Q22	1Q22
Revenues
Interest revenue	$	13,151	$	15,630	$	19,919	$	25,708	$	29,395	14%	NM
Interest expense		2,280		3,666		7,356		12,438		16,047	29%	NM
Net interest income (NII)		10,871		11,964		12,563		13,270		13,348	1%	23%

Commissions and fees		2,568		2,452		2,139		2,016		2,366	17%	(8%)
Principal transactions		4,590		4,525		2,625		2,419		3,939	63%	(14%)
Administrative and other fiduciary fees		966		1,023		915		880		896	2%	(7%)
Realized gains (losses) on investments		80		(58)		52		(7)		72	NM	(10%)
Impairment losses on investments and other assets		(90)		(96)		(91)		(222)		(86)	61%	4%
Provision for credit losses on AFS debt securities^(1)^		-		2		5		(2)		(1)	50%	(100%)
Other revenue (loss)		201		(174)		300		(348)		913	NM	NM
Total non-interest revenues (NIR)		8,315		7,674		5,945		4,736		8,099	71%	(3%)
Total revenues, net of interest expense	$	19,186	$	19,638	$	18,508	$	18,006	$	21,447	19%	12%


Provisions for credit losses and for benefits and claims
Net credit losses		872		850		887		1,180		1,302	10%	49%
Credit reserve build / (release) for loans		(612)		534		441		593		435	(27%)	NM
Provision for credit losses on loans		260		1,384		1,328		1,773		1,737	(2%)	NM
Provision for credit losses on held-to-maturity (HTM) debt securities		(2)		20		10		5		(17)	NM	NM
Provision for credit losses on other assets		(4)		7		73		-		425	NM	NM
Policyholder benefits and claims		27		22		25		20		24	20%	(11%)
Provision for credit losses on unfunded lending commitments		474		(159)		(71)		47		(194)	NM	NM
Total provisions for credit losses and for benefits and claims^(2)^		755		1,274		1,365		1,845		1,975	7%	NM

Operating expenses
Compensation and benefits		6,820		6,472		6,745		6,618		7,538	14%	11%
Premises and equipment		543		619		557		601		598	-	10%
Technology / communication		2,016		2,068		2,145		2,358		2,127	(10%)	6%
Advertising and marketing		311		414		407		424		331	(22%)	6%
Other operating		3,475		2,820		2,895		2,984		2,695	(10%)	(22%)
Total operating expenses		13,165		12,393		12,749		12,985		13,289	2%	1%


Income from continuing operations before income taxes		5,266		5,971		4,394		3,176		6,183	95%	17%
Provision for income taxes		941		1,182		879		640		1,531	NM	63%

Income (loss) from continuing operations		4,325		4,789		3,515		2,536		4,652	83%	8%
Discontinued operations^(3)^
Income (loss) from discontinued operations		(2)		(262)		(6)		(2)		(1)	50%	50%
Provision (benefit) for income taxes		-		(41)		-		-		-	-	-
Income (loss) from discontinued operations, net of taxes		(2)		(221)		(6)		(2)		(1)	50%	50%

Net income before noncontrolling interests		4,323		4,568		3,509		2,534		4,651	84%	8%
Net income (loss) attributable to noncontrolling interests		17		21		30		21		45	NM	NM

Citigroup's net income	$	4,306	$	4,547	$	3,479	$	2,513	$	4,606	83%	7%

(1)This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.

(2)This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.

(3)See footnote 2 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)


	****											1Q23 Increase/
		March 31,		June 30,		September 30,		December 31,		March 31,		(Decrease) from
		2022		2022		2022		2022		2023^(1)^		4Q22	1Q22
Assets
Cash and due from banks (including segregated cash and other deposits)		$	27,768	$	24,902	$	26,502	$	30,577	$	26,224	(14%)	(6%)
Deposits with banks, net of allowance			244,319		259,128		273,105		311,448		302,735	(3%)	24%
Securities borrowed and purchased under agreements to resell, net of allowance			345,410		361,334		349,214		365,401		384,198	5%	11%
Brokerage receivables, net of allowance			89,218		80,486		79,696		54,192		55,491	2%	(38%)
Trading account assets			357,997		340,875		358,260		334,114		383,906	15%	7%
Investments
Available-for-sale debt securities			264,774		238,499		232,143		249,679		240,487	(4%)	(9%)
Held-to-maturity debt securities, net of allowance			242,547		267,592		267,864		268,863		264,342	(2%)	9%
Equity securities			7,281		7,787		8,009		8,040		7,749	(4%)	6%
Total investments			514,602		513,878		508,016		526,582		512,578	(3%)	-
Loans, net of unearned income
Consumer^(2)^			350,328		355,605		357,583		368,067		363,696	(1%)	4%
Corporate^(3)^			309,341		301,728		288,377		289,154		288,299	-	(7%)
Loans, net of unearned income			659,669		657,333		645,960		657,221		651,995	(1%)	(1%)
Allowance for credit losses on loans (ACLL)			(15,393)		(15,952)		(16,309)		(16,974)		(17,169)	(1%)	(12%)
Total loans, net			644,276		641,381		629,651		640,247		634,826	(1%)	(1%)
Goodwill			19,865		19,597		19,326		19,691		19,882	1%	-
Intangible assets (including MSRs)			4,522		4,526		4,485		4,428		4,632	5%	2%
Property, plant and equipment, net			24,624		24,788		25,157		26,253		27,119	3%	10%
Other assets, net of allowance			121,504		110,009		107,652		103,743		103,522	-	(15%)
Total assets		$	2,394,105	$	2,380,904	$	2,381,064	$	2,416,676	$	2,455,113	2%	3%

Liabilities
Non-interest-bearing deposits in U.S. offices		$	153,666	$	147,214	$	135,514	$	122,655	$	123,969	1%	(19%)
Interest-bearing deposits in U.S. offices			557,327		565,785		570,920		607,470		587,477	(3%)	5%
Total U.S. deposits			710,993		712,999		706,434		730,125		711,446	(3%)	-
Non-interest-bearing deposits in offices outside the U.S.			98,579		100,266		98,904		95,182		90,404	(5%)	(8%)
Interest-bearing deposits in offices outside the U.S.			524,139		508,583		501,148		540,647		528,609	(2%)	1%
Total international deposits			622,718		608,849		600,052		635,829		619,013	(3%)	(1%)

Total deposits			1,333,711		1,321,848		1,306,486		1,365,954		1,330,459	(3%)	-
Securities loaned and sold under agreements to resell			204,494		198,472		203,429		202,444		257,681	27%	26%
Brokerage payables			91,324		96,474		87,841		69,218		76,708	11%	(16%)
Trading account liabilities			188,059		180,453		196,479		170,647		185,010	8%	(2%)
Short-term borrowings			30,144		40,054		47,368		47,096		40,187	(15%)	33%
Long-term debt			253,954		257,425		253,068		271,606		279,684	3%	10%
Other liabilities^(4)^			94,066		86,552		87,276		87,873		76,365	(13%)	(19%)
Total liabilities		$	2,195,752	$	2,181,278	$	2,181,947	$	2,214,838	$	2,246,094	1%	2%

Equity
Stockholders' equity
Preferred stock		$	18,995	$	18,995	$	18,995	$	18,995	$	20,245	7%	7%
Common stock			31		31		31		31		31	-	-
Additional paid-in capital			108,050		108,210		108,347		108,458		108,369	-	-
Retained earnings			187,962		191,261		193,462		194,734		198,353	2%	6%
Treasury stock, at cost			(73,744)		(73,988)		(73,977)		(73,967)		(73,262)	1%	1%
Accumulated other comprehensive income (loss) (AOCI)^(5)^			(43,585)		(45,495)		(48,298)		(47,062)		(45,441)	3%	(4%)
Total common equity		$	178,714	$	180,019	$	179,565	$	182,194	$	188,050	3%	5%

Total Citigroup stockholders' equity		$	197,709	$	199,014	$	198,560	$	201,189	$	208,295	4%	5%
Noncontrolling interests			644		612		557		649		724	12%	12%
Total equity			198,353		199,626		199,117		201,838		209,019	4%	5%
Total liabilities and equity		$	2,394,105	$	2,380,904	$	2,381,064	$	2,416,676	$	2,455,113	2%	3%

(1)	Preliminary.
(2)	Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business and Middle-Market Banking (Mexico SBMM) loans).
---	---
(3)	Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.
---	---
(4)	Includes allowance for credit losses for unfunded lending commitments. See page 15.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page3

OPERATING SEGMENT AND REPORTING UNIT DETAILS

(In millions of dollars)


																	1Q23 Increase/
	****	1Q		****	2Q		****	3Q		****	4Q		****	1Q		****	(Decrease) from
		2022			2022			2022			2022			2023			4Q22	1Q22
Net revenues
Institutional Clients Group		$	11,160		$	11,419		$	9,468		$	9,159		$	11,233		23%	1%
Personal Banking and Wealth Management			5,905			6,029			6,187			6,096			6,448		6%	9%
Legacy Franchises			1,931			1,935			2,554			2,052			2,852		39%	48%
Corporate/Other			190			255			299			699			914		31%	NM

Total net revenues		$	19,186		$	19,638		$	18,508		$	18,006		$	21,447		19%	12%

Income (loss) from continuing operations
Institutional Clients Group		$	2,658		$	3,978		$	2,186		$	1,916		$	3,298		72%	24%
Personal Banking and Wealth Management			1,860			553			792			114			489		NM	(74%)
Legacy Franchises			(385)			(15)			316			75			606		NM	NM
Corporate/Other			192			273			221			431			259		(40%)	35%

Income from continuing operations		$	4,325		$	4,789		$	3,515		$	2,536		$	4,652		83%	8%

Discontinued operations		$	(2)		$	(221)		$	(6)		$	(2)		$	(1)		50%	50%

Net income attributable to noncontrolling interests			17			21			30			21			45		NM	NM

Net income		$	4,306		$	4,547		$	3,479		$	2,513		$	4,606		83%	7%

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page4

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)


																	1Q23 Increase/
	****	1Q		****	2Q		****	3Q		****	4Q		****	1Q		****	(Decrease) from
		2022			2022			2022			2022			2023			4Q22	1Q22
Commissions and fees		$	1,130		$	1,125		$	1,082		$	1,067		$	1,150		8%	2%
Administration and other fiduciary fees			672			732			651			629			654		4%	(3%)
Investment banking fees^(1)^			1,039			990			816			728			834		15%	(20%)
Principal transactions			4,442			4,358			2,776			2,057			3,709		80%	(17%)
Other			93			(306)			(427)			(359)			(142)		60%	NM
Total non-interest revenue			7,376			6,899			4,898			4,122			6,205		51%	(16%)
Net interest income (including dividends)			3,784			4,520			4,570			5,037			5,028		-	33%
Total revenues, net of interest expense		****	11,160		****	11,419		****	9,468		****	9,159		****	11,233	****	23%	1%
Total operating expenses			6,723			6,434			6,541			6,601			6,973		6%	4%
Net credit losses on loans			30			18			-			104			22		(79%)	(27%)
Credit reserve build / (release) for loans			596			(76)			75			(117)			(75)		36%	NM
Provision for credit losses on unfunded lending commitments			352			(169)			(59)			63			(170)		NM	NM
Provisions for credit losses for HTM debt securities and other assets			(7)			25			70			6			151		NM	NM
Provision for credit losses			971			(202)			86			56			(72)		NM	NM
Income from continuing operations before taxes			3,466			5,187			2,841			2,502			4,332		73%	25%
Income taxes			808			1,209			655			586			1,034		76%	28%
Income from continuing operations		****	2,658		****	3,978		****	2,186		****	1,916		****	3,298	****	72%	24%
Noncontrolling interests			18			17			24			20			40		100%	NM
Net income		$	2,640		$	3,961		$	2,162		$	1,896		$	3,258	****	72%	23%
EOP assets (in billions)		$	1,704		$	1,700		$	1,706		$	1,730		$	1,769		2%	4%
Average assets (in billions)			1,685			1,698			1,729			1,753			1,774		1%	5%
Efficiency ratio			60%			56%			69%			72%			62%		(1,000) bps	200 bps

Revenue by reporting unit
Services		$	3,465		$	4,050		$	4,177		$	4,326		$	4,467		3%	29%
Markets			5,809			5,292			4,068			3,944			5,601		42%	(4%)
Banking			1,886			2,077			1,223			889			1,165		31%	(38%)
Total revenues, net of interest expense		$	11,160		$	11,419		$	9,468		$	9,159		$	11,233		23%	1%

Revenue by region
North America		$	3,722		$	4,410		$	3,091		$	2,444		$	3,503		43%	(6%)
EMEA			4,030			3,566			3,099			3,293			4,059		23%	1%
Latin America			1,141			1,266			1,202			1,320			1,272		(4%)	11%
Asia			2,267			2,177			2,076			2,102			2,399		14%	6%
Total revenues, net of interest expense		$	11,160		$	11,419		$	9,468		$	9,159		$	11,233		23%	1%

Income (loss) from continuing operations by region
North America		$	589		$	1,501		$	97		$	(90)		$	575		NM	(2%)
EMEA			928			1,172			1,003			857			1,380		61%	49%
Latin America			359			544			426			508			501		(1%)	40%
Asia			782			761			660			641			842		31%	8%
Income (loss) from continuing operations		$	2,658		$	3,978		$	2,186		$	1,916		$	3,298		72%	24%

Average loans by reporting unit (in billions)
Services		$	81		$	85		$	82		$	79		$	79		-	(2%)
Banking			194			199			197			194			191		(2%)	(2%)
Markets			14			13			12			12			13		8%	(7%)
Total		$	289		$	297		$	291		$	285		$	283		(1%)	(2%)

Average deposits by reporting unit and selected component (in billions)
Treasury and trade solutions (TTS)		$	670		$	672		$	664		$	694		$	704		1%	5%
Securities services			135			137			131			129			125		(3%)	(7%)
Services			805			809			795			823			829		1%	3%
Markets and Banking			21			21			22			25			24		(4%)	14%
Total		$	826		$	830		$	817		$	848		$	853		1%	3%

Services Key Drivers (in billions of dollars, except as otherwise noted)
AUC/AUA (in trillions of dollars)		$	23.0		$	21.2		$	20.9		$	22.2		$	23.0		4%	-
Cross border transaction value		$	75.6		$	79.3		$	75.6		$	81.1		$	83.0		2%	10%
U.S.dollar clearing volume (in millions)			36.1			36.7			37.6			38.2			38.3		-	6%
Commercial card spend volume		$	11.4		$	15.0		$	15.6		$	15.4		$	16.0		4%	40%

(1)	Investment banking fees are substantially composed of underwriting and advisory revenues.

NM Not meaningful.

Reclassified to conform to the current period's presentation. Page5

INSTITUTIONAL CLIENTS GROUP

REPORTING UNIT REVENUES

(In millions of dollars, except as otherwise noted)


																	1Q23 Increase/
	****	1Q		****	2Q		****	3Q		****	4Q		****	1Q		****	(Decrease) from
		2022			2022			2022			2022			2023			4Q22	1Q22
Services
Net interest income		$	1,924		$	2,354		$	2,619		$	2,821		$	2,839		1%	48%
Non-interest revenue			1,541			1,696			1,558			1,505			1,628		8%	6%
Total Services revenues		$	3,465		$	4,050		$	4,177		$	4,326		$	4,467		3%	29%

Net interest income		$	1,676		$	2,053		$	2,231		$	2,340		$	2,358		1%	41%
Non-interest revenue			931			1,003			977			946			1,053		11%	13%
Treasury and trade solutions		$	2,607		$	3,056		$	3,208		$	3,286		$	3,411		4%	31%

Net interest income		$	248		$	301		$	388		$	481		$	481		-	94%
Non-interest revenue			610			693			581			559			575		3%	(6%)
Securities services		$	858		$	994		$	969		$	1,040		$	1,056		2%	23%


Markets
Net interest income		$	1,092		$	1,355		$	1,228		$	1,489		$	1,470		(1%)	35%
Non-interest revenue			4,717			3,937			2,840			2,455			4,131		68%	(12%)
Total Markets revenues		$	5,809		$	5,292		$	4,068		$	3,944		$	5,601		42%	(4%)

Fixed income markets		$	4,289		$	4,078		$	3,122		$	3,211		$	4,454		39%	4%
Equity markets			1,520			1,214			946			733			1,147		56%	(25%)
Total		$	5,809		$	5,292		$	4,068		$	3,944		$	5,601		42%	(4%)

Rates and currencies		$	3,214		$	3,249		$	2,492		$	2,787		$	3,640		31%	13%
Spread products / other fixed income			1,075			829			630			424			814		92%	(24%)
Total fixed income markets revenues		$	4,289		$	4,078		$	3,122		$	3,211		$	4,454		39%	4%


Banking
Net interest income		$	768		$	811		$	723		$	727		$	719		(1%)	(6%)
Non-interest revenue			1,118			1,266			500			162			446		NM	(60%)
Total Banking revenues, including gain/(loss) on loan hedges		$	1,886		$	2,077		$	1,223		$	889		$	1,165		31%	(38%)
Investment banking
Advisory		$	347		$	357		$	392		$	269		$	289		7%	(17%)
Equity underwriting			185			177			100			149			109		(27%)	(41%)
Debt underwriting			496			271			139			227			376		66%	(24%)
Total investment banking			1,028			805			631			645			774		20%	(25%)
Corporate lending - excluding gain/(loss) on loan hedges^(1)^			689			778			648			544			590		8%	(14%)
Total Banking revenues (ex-gain/(loss) on loan hedges)^(1)^		$	1,717		$	1,583		$	1,279		$	1,189		$	1,364		15%	(21%)
Gain/(loss) on loan hedges^(1)^			169			494			(56)			(300)			(199)		34%	NM
Total Banking revenues including gain/(loss) on loan hedges^(1)^		$	1,886		$	2,077		$	1,223		$	889		$	1,165		31%	(38%)


Total ICG revenues, net of interest expense		$	11,160		$	11,419		$	9,468		$	9,159		$	11,233		23%	1%
Taxable-equivalent adjustments^(2)^			100			116			115			103			122		18%	22%

Total ICG revenues - including taxable-equivalent adjustments^(2)^		$	11,260		$	11,535		$	9,583		$	9,262		$	11,355		23%	1%

(1)	Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain/(loss) on loan hedges includes the mark-to-market on the credit derivatives partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain/(loss) on loan hedges are non-GAAP financial measures.
(2)	Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.
---	---

(1)

Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain/(loss) on loan hedges includes the mark-to-market on the credit derivatives partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain/(loss) on loan hedges are non-GAAP financial measures.

(2)

Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page6

PERSONAL BANKING AND WEALTH MANAGEMENT

(In millions of dollars, except as otherwise noted)


																	1Q23 Increase/
	****	1Q		****	2Q		****	3Q		****	4Q		****	1Q		****	(Decrease) from
		2022			2022			2022			2022			2023			4Q22	1Q22
Net interest income		$	5,385		$	5,569		$	5,836		$	5,866		$	5,934		1%	10%
Non-interest revenue			520			460			351			230			514		NM	(1%)
Total revenues, net of interest expense		****	5,905		****	6,029		****	6,187		****	6,096		****	6,448	****	6%	9%
Total operating expenses			3,889			3,985			4,077			4,307			4,254		(1%)	9%
Net credit losses on loans			691			699			723			908			1,094		20%	58%
Credit reserve build / (release) for loans			(1,062)			638			360			771			507		(34%)	NM
Provision for credit losses on unfunded lending commitments			(2)			13			19			(19)			(6)		68%	NM
Provisions for benefits and claims, and other assets			(3)			5			7			6			(4)		NM	(33%)
Provisions for credit losses and for benefits and claims (PBC)			(376)			1,355			1,109			1,666			1,591		(5%)	NM
Income (loss) from continuing operations before taxes			2,392			689			1,001			123			603		NM	(75%)
Income taxes (benefits)			532			136			209			9			114		NM	(79%)
Income (loss) from continuing operations		****	1,860		****	553		****	792		****	114		****	489	****	NM	(74%)
Noncontrolling interests			-			-			-			-			-		-	-
Net income (loss)		$	1,860		$	553		$	792		$	114		$	489	****	NM	(74%)
EOP assets (in billions)		$	476		$	479		$	479		$	494		$	490		(1%)	3%
Average assets (in billions)			474			474			473			484			495		2%	4%
Efficiency ratio			66%			66%			66%			71%			66%		(500) bps	0 bps
Revenue by reporting unit and component
Branded cards		$	2,090		$	2,168		$	2,258		$	2,376		$	2,466		4%	18%
Retail services			1,299			1,300			1,431			1,420			1,613		14%	24%
Retail banking			595			656			642			608			613		1%	3%
U.S. Personal Banking			3,984			4,124			4,331			4,404			4,692		7%	18%
Private bank			779			745			649			589			567		(4%)	(27%)
Wealth at Work			183			170			182			195			193		(1%)	5%
Citigold			959			990			1,025			908			996		10%	4%
Global Wealth Management			1,921			1,905			1,856			1,692			1,756		4%	(9%)
Total		$	5,905		$	6,029		$	6,187		$	6,096		$	6,448		6%	9%

Average loans by reporting unit (in billions)		****	****		****			****			****			****		****
U.S. Personal Banking		$	161		$	167		$	174		$	180		$	183		2%	14%
Global Wealth Management			151			150			151			150			150		-	(1%)
Total		$	312		$	317		$	325		$	330		$	333		1%	7%

Average deposits by reporting unit (in billions)		****	****		****			****			****			****		****
U.S. Personal Banking		$	118		$	116		$	115		$	111		$	111		-	(6%)
Global Wealth Management			329			319			313			320			323		1%	(2%)
Total		$	447		$	435		$	428		$	431		$	434		1%	(3%)

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page7

PERSONAL BANKING AND WEALTH MANAGEMENT

Metrics


											1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2022		2022		2022		2022		2023		4Q22	1Q22
U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise noted)

New account acquisitions (in thousands)
Branded cards		991		1,069		1,090		1,023		1,164	14%	17%
Retail services		2,178		2,634		2,339		2,806		1,976	(30%)	(9%)
Credit card spend volume
Branded cards	$	106.8	$	121.8	$	120.7	$	125.3	$	115.9	(8%)	9%
Retail services		21.4		26.1		24.5		27.1		20.8	(23%)	(3%)
Average loans^(1)^
Branded cards	$	84.0	$	87.9	$	91.8	$	95.4	$	96.8	1%	15%
Retail services		44.2		44.8		46.1		48.0		48.8	2%	10%
EOP loans^(1)^
Branded cards	$	85.9	$	91.6	$	93.7	$	100.2	$	97.1	(3%)	13%
Retail services		44.1		45.8		46.7		50.5		48.4	(4%)	10%
NII as a % of average loans^(2)^
Branded cards		9.16%		8.86%		8.98%		8.97%		9.34%
Retail services		16.93%		17.32%		17.45%		16.92%		17.57%
NCLs as a % of average loans
Branded cards		1.46%		1.50%		1.50%		1.68%		2.18%
Retail services		2.31%		2.60%		2.71%		3.30%		4.08%
Loans 90+ days past due as a % of EOP loans
Branded cards		0.47%		0.46%		0.51%		0.63%		0.78%
Retail services		1.15%		1.16%		1.35%		1.56%		1.76%
Loans 30-89 days past due as a % of EOP loans
Branded cards		0.49%		0.47%		0.59%		0.69%		0.76%
Retail services		1.27%		1.27%		1.53%		1.62%		1.66%

Average deposits	$	118	$	116	$	115	$	111	$	111	-	(6%)
Branches (actual)		658		658		653		654		653	-	(1%)
Mortgage originations	$	3.1	$	4.1	$	4.2	$	2.7	$	3.3	22%	6%

Global Wealth Management Key Indicators (in billions of dollars)
Client assets	$	788	$	730	$	708	$	746	$	759	2%	(4%)
Average loans		151		150		151		150		150	-	(1%)
Average deposits		329		319		313		320		323	1%	(2%)
U.S. mortgage originations		3.7		5.3		4.4		2.5		1.8	(28%)	(51%)

(1)	Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.
(2)	Net interest income includes certain fees that are recorded as interest revenue.
---	---

Reclassified to conform to the current period's presentation.

Page8

LEGACY FRANCHISES^(1)^

(In millions of dollars, except as otherwise noted)


												1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q			(Decrease) from
	2022		2022		2022		2022		2023			4Q22	1Q22

Net interest income	$	1,508	$	1,474	$	1,385	$	1,324	$	1,290		(3%)	(14%)
Non-interest revenue^(2)(3)^		423		461		1,169		728		1,562		NM	NM
Total revenues, net of interest expense	****	1,931	****	1,935	****	2,554	****	2,052	****	2,852	****	39%	48%
Total operating expenses		2,293		1,814		1,845		1,830		1,752		(4%)	(24%)
Net credit losses on loans		151		133		164		168		186		11%	23%
Credit reserve build / (release) for loans		(146)		(28)		6		(61)		3		NM	NM
Provision for credit losses on unfunded lending commitments		124		(3)		(31)		3		(18)		NM	NM
Provisions for benefits and claims, HTM debt securities and other assets		31		19		28		13		174		NM	NM
Provisions for credit losses and for benefits and claims (PBC)		160		121		167		123		345		NM	NM
Income (loss) from continuing operations before taxes		(522)		-		542		99		755		NM	NM
Income taxes (benefits)		(137)		15		226		24		149		NM	NM
Income (loss) from continuing operations	****	(385)	****	(15)	****	316	****	75	****	606	****	NM	NM
Noncontrolling interests		(2)		2		-		3		2		(33%)	NM
Net income (loss)	$	(383)	$	(17)	$	316	$	72	$	604	****	NM	NM
EOP assets (in billions)	$	122	$	108	$	100	$	97	$	94		(3%)	(23%)
Average assets (in billions)		124		115		103		99		97		(2%)	(22%)
Efficiency ratio		119%		94%		72%		89%		61%		(2,800) bps	(5,800) bps

Revenue by reporting unit and component
Asia Consumer	$	787	$	880	$	1,372	$	772	$	1,509		95%	92%
Mexico Consumer/SBMM		1,139		1,184		1,173		1,255		1,322		5%	16%
Legacy Holdings Assets		5		(129)		9		25		21		(16%)	NM
Total	$	1,931	$	1,935	$	2,554	$	2,052	$	2,852		39%	48%

Asia Consumer - Key Indicators (in billions of dollars)
EOP loans	$	19.5	$	17.3	$	13.4	$	13.3	$	10.0		(25%)	(49%)
EOP deposits		17.5		17.2		14.6		14.5		14.4		(1%)	(18%)
Average loans		23.1		18.2		15.2		13.2		12.1		(8%)	(48%)
NCLs as a % of average loans		0.79%		0.77%		1.02%		1.23%		1.47%
Loans 90+ days past due as a % of EOP loans		0.28%		0.29%		0.35%		0.37%		0.55%
Loans 30-89 days past due as a % of EOP loans		0.32%		0.40%		0.47%		0.53%		0.65%

Mexico Consumer/SBMM - Key Indicators (in billions of dollars)
EOP loans	$	20.7	$	20.6	$	20.7	$	21.9	$	24.0		10%	16%
EOP deposits		33.9		35.5		35.8		36.5		38.3		5%	13%
Average loans		19.6		20.5		20.4		21.3		22.8		7%	16%
NCLs as a % of average loans		2.55%		2.15%		2.64%		2.48%		2.63%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.32%		1.29%		1.26%		1.28%		1.24%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.30%		1.18%		1.23%		1.26%		1.26%

Legacy Holdings Assets - Key Indicators (in billions of dollars)
EOP loans	$	3.7	$	3.2	$	3.2	$	3.0	$	2.8		(7%)	(24%)

(1)	Legacy Franchises consists of the consumer franchises in 13 markets across Asia and EMEA that Citi intends to exit or has exited (Asia Consumer); the consumer, small business and middle-market banking (Mexico SBMM) operations in Mexico (collectively Mexico Consumer/SBMM); and Legacy Holdings Assets (primarily North America consumer mortgage loans and other legacy assets).
(2)	See footnote 1 on page 1.
---	---
(3)	See footnote 2 on page 1.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page9

CORPORATE / OTHER^(1)^

(In millions of dollars, except as otherwise noted)


												1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q			(Decrease) from
	2022		2022		2022		2022		2023			4Q22	1Q22

Net interest income	$	194	$	401	$	772	$	1,043	$	1,096		5%	NM
Non-interest revenue		(4)		(146)		(473)		(344)		(182)		47%	NM
Total revenues, net of interest expense	****	190	****	255	****	299	****	699	****	914	****	31%	NM
Total operating expenses		260		160		286		247		310		26%	19%
Provisions for HTM debt securities and other assets		-		-		3		-		111		NM	NM
Income (loss) from continuing operations before taxes		(70)		95		10		452		493		9%	NM
Income taxes (benefits)		(262)		(178)		(211)		21		234		NM	NM
Income (loss) from continuing operations	****	192	****	273	****	221	****	431	****	259	****	(40%)	35%
Income (loss) from discontinued operations, net of taxes^(2)^		(2)		(221)		(6)		(2)		(1)		50%	50%
Noncontrolling interests		1		2		6		(2)		3		NM	NM
Net income (loss)	$	189	$	50	$	209	$	431	$	255	****	(41%)	35%
EOP assets (in billions)	$	92	$	94	$	96	$	96	$	102		6%	11%

(1)	Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.
(2)	See footnote 3 on page 1.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page10

AVERAGE BALANCES AND INTEREST RATES^(1)(2)(3)(4)(5)^

Taxable Equivalent Basis


		Average Volumes						Interest							% Average Rate^(4)^					****
																				****
																				****
In millions of dollars, except as otherwise noted	****	1Q22		4Q22		1Q23^(5)^		1Q22		4Q22		1Q23^(5)^			1Q22		4Q22		1Q23^(5)^	****
Assets
Deposits with banks		$	260,536	$	305,658	$	328,141	$	296	$	2,343	$	3,031	****	0.46%		3.04%		3.75%
Securities borrowed and purchased under resale agreements^(6)^			343,636		358,513		368,049		394		3,779		5,174		0.46%		4.18%		5.70%
Trading account assets^(7)^			270,460		277,374		298,824		1,148		2,626		2,748		1.72%		3.76%		3.73%
Investments			518,820		519,072		516,524		2,067		3,812		4,159		1.62%		2.91%		3.27%
Consumer loans			352,230		360,518		363,669		6,262		8,148		8,624		7.21%		8.97%		9.62%
Corporate loans			296,346		291,984		290,068		2,477		4,121		4,687		3.39%		5.60%		6.55%
Total loans (net of unearned income)^(8)^			648,576		652,502		653,737		8,739		12,269		13,311		5.46%		7.46%		8.26%
Other interest-earning assets			119,815		98,131		87,758		549		912		1,016		1.86%		3.69%		4.70%
Total average interest-earning assets		$	2,161,843	$	2,211,250	$	2,253,033	$	13,193	$	25,741	$	29,439		2.47%		4.62%		5.30%

Liabilities
Deposits		$	1,080,105	$	1,131,425	$	1,147,176	$	871	$	5,998	$	7,708		0.33%		2.10%		2.72%
Securities loaned and sold under repurchase agreements^(6)^			210,101		205,138		223,708		282		2,267		3,566		0.54%		4.38%		6.46%
Trading account liabilities^(7)^			114,313		121,423		129,361		147		681		787		0.52%		2.23%		2.47%
Short-term borrowings and other interest-bearing liabilities			138,861		153,326		144,022		55		1,420		1,649		0.16%		3.67%		4.64%
Long-term debt^(9)^			170,927		169,642		170,533		925		2,072		2,337		2.19%		4.85%		5.56%
Total average interest-bearing liabilities		$	1,714,307	$	1,780,954	$	1,814,800	$	2,280	$	12,438	$	16,047		0.54%		2.77%		3.59%


Net interest income as a % of average interest-earning assets (NIM)^(9)^		****	****	****	****	****		$	10,913	$	13,303	$	13,392		2.05%		2.39%		2.41%

1Q23 increase (decrease) from:		****	****	****	****	****	****					****		****	36	bps	2	bps

(1)	Interest revenue and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $42 million for 1Q22, $33 million for 4Q22 and $44 million for 1Q23.
(2)	Citigroup average balances and interest rates include both domestic and international operations.
---	---
(3)	Monthly averages have been used by certain subsidiaries where daily averages are unavailable.
---	---
(4)	Average rate percentage is calculated as annualized interest over average volumes.
---	---
(5)	1Q23 is preliminary.
---	---
(6)	Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).
---	---
(7)	Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue. Interest revenue and Interest expense on cash collateral positions are reported in Trading account assets and Trading account liabilities, respectively.
---	---
(8)	Nonperforming loans are included in the average loan balances.
---	---
(9)	Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.
---	---

Reclassified to conform to the current period's presentation.

Page11

EOP LOANS^(1)(2)^

(In billions of dollars)


												1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q			(Decrease) from
	2022		2022		2022		2022		2023			4Q22	1Q22

Corporate loans by region
North America	$	129.2	$	129.9	$	125.9	$	127.8	$	125.1		(2%)	(3%)
EMEA		81.2		76.8		71.6		71.0		70.0		(1%)	(14%)
Latin America		35.9		36.2		35.4		36.2		38.6		7%	8%
Asia		63.0		58.8		55.5		54.2		54.6		1%	(13%)
Total corporate loans	$	309.3	$	301.7	$	288.4	$	289.2	$	288.3	****	-	(7%)

Corporate loans by reporting unit
Services	$	86.6	$	85.9	$	80.4	$	76.6	$	80.1		5%	(8%)
Markets		14.6		12.6		11.7		13.6		13.5		(1%)	(8%)
Banking		201.0		196.1		189.3		191.9		187.0		(3%)	(7%)
Legacy Franchises - Mexico SBMM		7.1		7.1		7.0		7.1		7.7		8%	8%
Total corporate loans	$	309.3	$	301.7	$	288.4	$	289.2	$	288.3	****	-	(7%)

Personal Banking and Wealth Management
Branded cards	$	85.9	$	91.6	$	93.7	$	100.2	$	97.1		(3%)	13%
Retail services		44.1		45.8		46.7		50.5		48.4		(4%)	10%
Retail banking		33.3		35.4		35.8		37.1		39.2		6%	18%
U.S. Personal Banking	$	163.3	$	172.8	$	176.2	$	187.8	$	184.7		(2%)	13%
Global Wealth Management		150.2		148.8		151.1		149.2		149.9		-	-
Total	$	313.5	$	321.6	$	327.3	$	337.0	$	334.6	****	(1%)	7%

Legacy Franchises - Consumer
Asia Consumer^(3)^	$	19.5	$	17.3	$	13.4	$	13.3	$	10.0		(25%)	(49%)
Mexico Consumer		13.6		13.5		13.7		14.8		16.3		10%	20%
Legacy Holdings Assets		3.7		3.2		3.2		3.0		2.8		(7%)	(24%)
Total	$	36.8	$	34.0	$	30.3	$	31.1	$	29.1		(6%)	(21%)

Total consumer loans	$	350.3	$	355.6	$	357.6	$	368.1	$	363.7	****	(1%)	4%

Total loans	$	659.7	$	657.3	$	646.0	$	657.2	$	652.0	****	(1%)	(1%)

(1)	Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.
(2)	Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business and Middle-Market Banking (Mexico SBMM) loans).
---	---
(3)	Asia Consumer includes loans of certain EMEA countries for all periods presented.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page12

DEPOSITS

(In billions of dollars)


												1Q23 Increase/
	1Q		2Q		3Q		4Q		1Q			(Decrease) from
	2022		2022		2022		2022		2023			4Q22	1Q22

ICG by region
North America	$	390.5	$	404.3	$	391.0	$	405.5	$	394.7		(3%)	1%
EMEA		208.6		210.7		197.7		215.6		208.8		(3%)	-
Latin America		38.9		37.7		35.5		40.9		41.8		2%	7%
Asia		187.5		176.0		172.7		183.4		174.1		(5%)	(7%)
Total	$	825.5	$	828.7	$	796.9	$	845.4	$	819.4		(3%)	(1%)

ICG by reporting unit
Treasury and trade solutions	$	664.2	$	670.3	$	647.1	$	701.3	$	670.9		(4%)	1%
Securities services		138.7		136.3		127.8		119.8		124.2		4%	(10%)
Services	$	802.9	$	806.6	$	774.9	$	821.1	$	795.1		(3%)	(1%)
Markets		21.5		20.9		20.5		22.6		23.0		2%	7%
Banking		1.1		1.2		1.5		1.7		1.3		(24%)	18%
Total	$	825.5	$	828.7	$	796.9	$	845.4	$	819.4		(3%)	(1%)

Personal Banking and Wealth Management
U.S. Personal Banking	$	119.5	$	115.7	$	115.2	$	112.5	$	114.7		2%	(4%)
Global Wealth Management		332.1		311.9		312.1		325.3		322.2		(1%)	(3%)
Total	$	451.6	$	427.6	$	427.3	$	437.8	$	436.9		-	(3%)

Legacy Franchises
Asia Consumer^(1)^	$	17.5	$	17.2	$	14.6	$	14.5	$	14.4		(1%)	(18%)
Mexico Consumer/SBMM		33.9		35.5		35.8		36.5		38.3		5%	13%
Legacy Holdings Assets		-		-		-		-		-		-	-
Total	$	51.4	$	52.7	$	50.4	$	51.0	$	52.7		3%	3%

Corporate/Other	$	5.2	$	12.8	$	31.9	$	31.8	$	21.5		(32%)	NM

Total deposits - EOP	$	1,333.7	$	1,321.8	$	1,306.5	$	1,366.0	$	1,330.5	****	(3%)	-

Total deposits - average	$	1,334.3	$	1,322.5	$	1,315.9	$	1,361.1	$	1,363.2	****	-	2%

(1)	Asia Consumer includes deposits of certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page13

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)


																	Builds						ACLL/EOP
	Balance		Builds (releases)										FY 2022		Balance		(Releases)		1Q23		Balance		Loans
	12/31/21		1Q22		2Q22		3Q22		4Q22		FY 2022		FX/Other		12/31/22		1Q23		FX/Other^(1)^		3/31/23		3/31/23

Allowance for credit losses on loans (ACLL)
ICG	$	2,241	$	596	$	(76)	$	75	$	(117)	$	478	$	(4)	$	2,715	$	(75)	$	3	$	2,643
Legacy Franchises corporate (Mexico SBMM)		174		5		(3)		(34)		(7)		(39)		5		140		(10)		7		137

Total corporate ACLL	$	2,415	$	601	$	(79)	$	41	$	(124)	$	439	$	1	$	2,855	$	(85)	$	10	$	2,780	0.98%
U.S. Cards	$	10,840	$	(1,009)	$	447	$	303	$	814	$	555	$	(2)	$	11,393	$	536	$	(173)	$	11,756	8.08%
Retail banking and Global Wealth Management		1,181		(53)		191		57		(43)		152		(3)		1,330		(29)		(60)		1,241
Total PBWM	$	12,021	$	(1,062)	$	638	$	360	$	771	$	707	$	(5)	$	12,723	$	507	$	(233)	$	12,997
Legacy Franchises consumer		2,019		(151)		(25)		40		(54)		(190)		(433)		1,396		13		(17)		1,392
Total consumer ACLL	$	14,040	$	(1,213)	$	613	$	400	$	717	$	517	$	(438)	$	14,119	$	520	$	(250)	$	14,389	3.96%

Total ACLL	$	16,455	$	(612)	$	534	$	441	$	593	$	956	$	(437)	$	16,974	$	435	$	(240)	$	17,169	2.65%
Allowance for credit losses on unfunded lending commitments (ACLUC)	$	1,871	$	474	$	(159)	$	(71)	$	47	$	291	$	(11)	$	2,151	$	(194)	$	2	$	1,959
Total ACLL and ACLUC (EOP)		18,326														19,125						19,128
Other^(2)^		148		(6)		27		83		5		109		(14)		243		408		(19)		632
Total allowance for credit losses (ACL)	$	18,474	$	(144)	$	402	$	453	$	645	$	1,356	$	(462)	$	19,368	$	649	$	(257)	$	19,760

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326) TDRs and Vintage Disclosures. See page 15.
(2)	Includes ACL on HTM securities and Other assets.
---	---

Reclassified to conform to the current period's presentation.

Page14

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 1

(In millions of dollars)

																	1Q23 Increase/
		1Q			2Q			3Q			4Q			1Q			(Decrease) from
	****	2022		****	2022		****	2022		****	2022		****	2023		****	4Q22	****	1Q22

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	****	$	16,455	****	$	15,393	****	$	15,952	****	$	16,309	****	$	16,974		4%		3%
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures^(1)^			-			-			-			-			(352)
Adjusted ACLL at beginning of period			16,455			15,393			15,952			16,309			16,622		2%		1%
Gross credit (losses) on loans			(1,240)			(1,212)			(1,237)			(1,467)			(1,634)		(11%)		(32%)
Gross recoveries on loans			368			362			350			287			332		16%		(10%)
Net credit (losses) / recoveries on loans (NCLs)			(872)			(850)			(887)			(1,180)			(1,302)		10%		49%
Replenishment of NCLs			872			850			887			1,180			1,302		10%		49%
Net reserve builds / (releases) for loans			(612)			534			441			593			435		(27%)		NM
Provision for credit losses on loans (PCLL)			260			1,384			1,328			1,773			1,737	****	(2%)		NM
Other, net^(2)(3)(4)(5)(6)(7)^			(450)			25			(84)			72			112		56%		NM
ACLL at end of period (a)	****	$	15,393	****	$	15,952	****	$	16,309	****	$	16,974	****	$	17,169	****	1%		12%

Allowance for credit losses on unfunded lending commitments (ACLUC)^(8)^ (a)	****	$	2,343	****	$	2,193	****	$	2,089	****	$	2,151	****	$	1,959	****	(9%)		(16%)

Provision (release) for credit losses on unfunded lending commitments	****	$	474	****	$	(159)	****	$	(71)	****	$	47	****	$	(194)	****	NM		NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	****	$	17,736	****	$	18,145	****	$	18,398	****	$	19,125	****	$	19,128	****	-		8%

Total ACLL as a percentage of total loans^(9)^			2.35%			2.44%			2.54%			2.60%			2.65%

Consumer
ACLL at beginning of period	****	$	14,040	****	$	12,368	****	$	12,983	****	$	13,361	****	$	14,119	****	6%		1%
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures^(1)^			-			-			-			-			(352)
Adjusted ACLL at beginning of period			14,040			12,368			12,983			13,361			13,767		3%		(2%)

NCLs			(841)			(827)			(881)			(1,062)			(1,280)		21%		52%
Replenishment of NCLs			841			827			881			1,062			1,280		21%		52%
Net reserve builds / (releases) for loans			(1,213)			613			400			717			520		(27%)		NM
Provision for credit losses on loans (PCLL)			(372)			1,440			1,281			1,779			1,800	****	1%		NM
Other, net^(2)(3)(4)(5)(6)(7)^			(459)			2			(22)			41			102		NM		NM
ACLL at end of period (b)	****	$	12,368	****	$	12,983	****	$	13,361	****	$	14,119	****	$	14,389	****	2%		16%

Consumer ACLUC^(8)^ (b)	****	$	139	****	$	165	****	$	143	****	$	120	****	$	101	****	(16%)		(27%)

Provision (release) for credit losses on unfunded lending commitments	****	$	109	****	$	19	****	$	(8)	****	$	(20)	****	$	(17)	****	15%		NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	****	$	12,507	****	$	13,148	****	$	13,504	****	$	14,239	****	$	14,490	****	2%		16%

Consumer ACLL as a percentage of total consumer loans			3.53%			3.65%			3.74%			3.84%			3.96%

Corporate
ACLL at beginning of period	****	$	2,415	****	$	3,025	****	$	2,969	****	$	2,948	****	$	2,855	****	(3%)		18%

NCLs			(31)			(23)			(6)			(118)			(22)		(81%)		(29%)
Replenishment of NCLs			31			23			6			118			22		(81%)		(29%)
Net reserve builds / (releases) for loans			601			(79)			41			(124)			(85)		31%		NM
Provision for credit losses on loans (PCLL)			632			(56)			47			(6)			(63)	****	NM		NM
Other, net^(2)^			9			23			(62)			31			10		(68%)		11%
ACLL at end of period (c)	****	$	3,025	****	$	2,969	****	$	2,948	****	$	2,855	****	$	2,780	****	(3%)		(8%)

Corporate ACLUC^(8)^ (c)	****	$	2,204	****	$	2,028	****	$	1,946	****	$	2,031	****	$	1,858	****	(9%)		(16%)

Provision (release) for credit losses on unfunded lending commitments	****	$	365	****	$	(178)	****	$	(63)	****	$	67	****	$	(177)	****	NM		NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	****	$	5,229	****	$	4,997	****	$	4,894	****	$	4,886	****	$	4,638	****	(5%)		(11%)
Corporate ACLL as a percentage of total corporate loans^(9)^			1.00%			1.00%			1.04%			1.01%			0.98%

Footnotes to this table are on the following page (page 16).

Page15

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 2

The following footnotes relate to the table on the preceding page (page 15):

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326) TDRs and Vintage Disclosures.
(2)	Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.
---	---
(3)	1Q22 includes an approximate $350 million reclass related to the announced sales of Citi's consumer banking businesses in Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain and Vietnam. The ACLL was reclassified to Other assets during 1Q22. 1Q22 consumer also includes a decrease of approximately $100 million related to FX translation.
---	---
(4)	2Q22 primarily relates to FX translation.
---	---
(5)	3Q22 primarily relates to FX translation.
---	---
(6)	4Q22 primarily relates to FX translation.
---	---
(7)	1Q23 primarily relates to FX translation.
---	---
(8)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
---	---
(9)	March 31, 2022, June 30, 2022, September 30, 2022, December 31, 2022 and March 31, 2023 exclude $5.7 billion, $4.5 billion, $3.9 billion, $5.4 billion and $5.1 billion, respectively, of loans that are carried at fair value.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page16

NON-ACCRUAL ASSETS

(In millions of dollars)

																	1Q23 Increase/
		1Q			2Q			3Q			4Q			1Q			(Decrease) from
	****	2022		****	2022		****	2022		****	2022		****	2023		****	4Q22	****	1Q22

Corporate non-accrual loans by region^(1)^
North America		$	462		$	304		$	276		$	138		$	285		NM		(38%)
EMEA			688			712			598			502			383		(24%)		(44%)
Latin America			631			563			555			429			462		8%		(27%)
Asia			85			76			56			53			83		57%		(2%)
Total	****	$	1,866	****	$	1,655	****	$	1,485	****	$	1,122	****	$	1,213	****	8%	****	(35%)

Corporate non-accrual loans by reporting unit^(1)^
Banking		$	1,323		$	1,015		$	1,085		$	767		$	868		13%		(34%)
Services			297			353			185			153			133		(13%)		(55%)
Markets			13			11			-			3			3		-		(77%)
Mexico SBMM			233			276			215			199			209		5%		(10%)
Total	****	$	1,866	****	$	1,655	****	$	1,485	****	$	1,122	****	$	1,213	****	8%	****	(35%)

Consumer non-accrual loans^(1)^
U.S. Personal Banking and Global Wealth Management		$	586		$	536		$	585		$	541		$	608		12%		4%
Asia Consumer^(2)^			38			34			30			30			29		(3%)		(24%)
Mexico Consumer			512			493			486			457			480		5%		(6%)
Legacy Holdings Assets - Consumer			381			317			300			289			278		(4%)		(27%)
Total	****	$	1,517	****	$	1,380	****	$	1,401	****	$	1,317	****	$	1,395	****	6%	****	(8%)

Total non-accrual loans (NAL)	****	$	3,383	****	$	3,035	****	$	2,886	****	$	2,439	****	$	2,608	****	7%	****	(23%)

Other real estate owned (OREO)^(3)^	****	$	26	****	$	13	****	$	16	****	$	15	****	$	21	****	40%	****	(19%)

NAL as a percentage of total loans			0.51%			0.46%			0.45%			0.37%			0.40%

ACLL as a percentage of NAL			455%			526%			565%			696%			658%

(1)	Corporate loans are placed on non-accrual status based upon a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance Sheet.
(2)	Asia Consumer includes balances for certain EMEA countries for all periods presented.
---	---
(3)	Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer contemplated.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page17

CITIGROUP

CET1 CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS, TANGIBLE COMMON EQUITY, BOOK VALUE

PER SHARE AND TANGIBLE BOOK VALUE PER SHARE

(In millions of dollars or shares, except per share amounts and ratios)

	March 31,		June 30,		September 30,		December 31,		March 31,
Common Equity Tier 1 Capital Ratio and Components^(1)^	2022		2022		2022		2022		2023^(2)^
Citigroup common stockholders' equity^(3)^	$	178,845	$	180,150	$	179,696	$	182,325	$	188,186
Add: qualifying noncontrolling interests		126		129		113		128		137
Regulatory capital adjustments and deductions:
Add:
CECL transition provision^(4)^		2,271		2,271		2,271		2,271		1,514
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(1,440)		(2,106)		(2,869)		(2,522)		(2,161)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		27		2,145		3,211		1,441		1,037
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)^(5)^		20,120		19,504		18,796		19,007		18,844
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,698		3,599		3,492		3,411		3,607
Defined benefit pension plan net assets; other		2,230		2,038		1,932		1,935		1,999
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards^(7)^		11,701		11,679		11,690		12,197		11,783
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs^(7)(8)^		1,157		798		1,261		325		1,052
Common Equity Tier 1 Capital (CET1)	$	143,749	$	144,893	$	144,567	$	148,930	$	153,676
Risk-Weighted Assets (RWA)^(4)^	$	1,257,293	$	1,212,386	$	1,176,749	$	1,142,985	$	1,144,592
Common Equity Tier 1 Capital ratio (CET1/RWA)		11.43%		11.95%		12.29%		13.03%		13.4%

Supplementary Leverage Ratio and Components
Common Equity Tier 1 Capital (CET1)^(4)^	$	143,749	$	144,893	$	144,567	$	148,930	$	153,676
Additional Tier 1 Capital (AT1)^(6)^		20,266		20,266		20,263		20,215		21,499
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	164,015	$	165,159	$	164,830	$	169,145	$	175,175
Total Leverage Exposure (TLE)^(4)^	$	2,939,533	$	2,918,273	$	2,888,535	$	2,906,773	$	2,944,452
Supplementary Leverage ratio (T1C/TLE)		5.58%		5.66%		5.71%		5.82%		5.9%

Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders' equity	$	178,714	$	180,019	$	179,565	$	182,194	$	188,050
Less:
Goodwill		19,865		19,597		19,326		19,691		19,882
Intangible assets (other than MSRs)		4,002		3,926		3,838		3,763		3,974
Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS		1,384		1,081		794		589		246
Tangible common equity (TCE)	$	153,463	$	155,415	$	155,607	$	158,151	$	163,948
Common shares outstanding (CSO)		1,941.9		1,936.7		1,936.9		1,937.0		1,946.8
Book value per share (common equity/CSO)	$	92.03	$	92.95	$	92.71	$	94.06	$	96.59
Tangible book value per share (TCE/CSO)	$	79.03	$	80.25	$	80.34	$	81.65	$	84.21

(1)	See footnote 5 on page 1.
(2)	1Q23 is preliminary.
---	---
(3)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
---	---
(4)	See footnote 6 on page 1.
---	---
(5)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.
---	---
(6)	Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.
---	---
(7)	Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit and general business credit tax carry-forwards and DTAs arising from timing differences (future deductions) that are deducted from CET1 capital exceeding the 10% limitation.
---	---
(8)	Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
---	---

Reclassified to conform to the current period's presentation. Page18


			Exhibit 99.3

Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Ticker Symbol(s)	Title for iXBRL	Name of each exchange on which registered

Common Stock, par value $.01 per share	C	Common Stock, par value $.01 per share	New York Stock Exchange
Depositary Shares, each representing 1/1,000th interest in a share of 7.125% Fixed/Floating Rate Noncumulative Preferred Stock, Series J	C Pr J	Dep Shs, represent 1/1,000th interest in a share of 7.125% Fix/Float Rate Noncum Pref Stk, Ser J	New York Stock Exchange
Depositary Shares, each representing 1/1,000th interest in a share of 6.875% Fixed/Floating Rate Noncumulative Preferred Stock, Series K	C Pr K	Dep Shs, represent 1/1,000th interest in a share of 6.875% Fix/Float Rate Noncum Pref Stk, Ser K	New York Stock Exchange
7.625% Trust Preferred Securities of Citigroup Capital III (and registrant’s guaranty with respect thereto)	C/36Y	7.625% TRUPs of Cap III (and registrant’s guaranty)	New York Stock Exchange
7.875% Fixed Rate / Floating Rate Trust Preferred Securities (TruPS^®^) of Citigroup Capital XIII (and registrant’s guaranty with respect thereto)	C N	7.875% FXD / FRN TruPS of Cap XIII (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Step-Up Coupon Notes Due March 31, 2036 of CGMHI (and registrant’s guaranty with respect thereto)	C/36A	MTN, Series N, Callable Step-Up Coupon Notes Due Mar 2036 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Step-Up Coupon Notes Due February 26, 2036 of CGMHI (and registrant's guaranty with respect thereto)	C/36	MTN, Series N, Callable Step-Up Coupon Notes Due Feb 2036 of CGMHI (and registrant's guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due December 18, 2035 of CGMHI (and registrant's guaranty with respect thereto)	C/35	MTN, Series N, Callable Fixed Rate Notes Due Dec 2035 of CGMHI (and registrant's guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due April 26, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28	MTN, Series N, Callable Fixed Rate Notes Due Apr 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 17, 2026 of CGMHI (and registrant’s guaranty with respect thereto)	C/26	MTN, Series N, Floating Rate Notes Due Sept 2026 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 15, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28A	MTN, Series N, Floating Rate Notes Due Sept 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
---	---	---	---
Medium-Term Senior Notes, Series N, Floating Rate Notes Due October 6, 2028 of CGMHI (and registrant’s guaranty with respect thereto)	C/28B	MTN, Series N, Floating Rate Notes Due Oct 2028 of CGMHI (and registrant’s guaranty)	New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due March 21, 2029 of CGMHI (and registrant’s guaranty with respect thereto)	C/29A	MTN, Series N, Floating Rate Notes Due Mar 2029 of CGMHI (and registrant’s guaranty)	New York Stock Exchange