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) October 14, 2022

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 October 14, 2022, Citigroup Inc. announced its results for the quarter ended September 30, 2022. 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 September 30, 2022 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 October 14, 2022.

99.2		Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2022.

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: October 14, 2022
	By:	/s/ Johnbull E. Okpara
		Johnbull E. Okpara
		Controller and Chief Accounting Officer
		(Principal Accounting Officer)

Exhibit 99.1

For Immediate Release<br><br>Citigroup Inc. (NYSE: C)<br><br>October 14, 2022
THIRD QUARTER 2022 RESULTS AND KEY METRICS<br><br><br><br><br><br>	CEO COMMENTARY
		<br><br>Citi CEO Jane Fraser said, “We are intensely focused on supporting our clients and executing our strategy. We have made good progress on many of the core business drivers we laid out at Investor Day, despite the complex macro environment. Treasury and Trade Solutions saw revenues up 40% year-over-year, with growth across all segments, and Securities Services was up 15%. In Fixed Income, we matched last year’s showing through our strength in FX, while Equities came in lower than last year. Banking was the business most adversely impacted by the macro environment with reduced deal flows and a lower appetite for M&A. While the backdrop for wealth management was difficult, our revenues were up outside of Asia. U.S. Personal Banking further solidified its growth trajectory with double digit revenue growth in both of our cards businesses.<br><br><br><br>“We continue to shrink our operations in and exposure to Russia and we will be ending nearly all of the institutional banking services we offer next quarter. To be clear, our intention is to wind down our presence in this country.<br><br><br><br>“We returned $1 billion in capital to our shareholders and ended the quarter with a CET1 ratio of 12.2%, as we actively managed our RWA to improve the returns we generate for our shareholders. Given the strength of our balance sheet, capital levels and liquidity, we are well positioned to help our clients navigate very challenging markets and slower growth”, Ms. Fraser concluded.
RETURNED $1.0 BILLION IN DIVIDENDS TO COMMON SHAREHOLDERS<br><br><br><br>PAYOUT RATIO OF 31%^(3)^<br><br><br><br>BOOK VALUE PER SHARE OF $92.71<br><br><br><br>TANGIBLE BOOK VALUE PER SHARE OF $80.34^(4)^<br><br><br><br>New York, October 14, 2022 – Citigroup Inc. today reported net income for the third quarter 2022 of $3.5 billion, or $1.63 per diluted share, on revenues of $18.5 billion. This compares to net income of $4.6 billion, or $2.15 per diluted share, on revenues of $17.4 billion for the third quarter 2021.<br><br><br><br>Third quarter results included Asia Consumer divestiture-related impacts of approximately $520 million in earnings before taxes (approximately $256 million after-tax), primarily driven by a gain on the sale of the Philippines consumer business. Excluding these divestiture-related impacts, earnings per share was $1.50^(5)^.<br><br><br><br>Revenues increased 6% from the prior-year period, primarily due to the gain on sale of the Philippines consumer business versus a loss on sale of the Australia consumer business in the prior-year period. Excluding these divestiture-related impacts, revenues were down 1%^(5)^, as growth in net interest income was more than offset by lower non-interest revenues. On this basis, higher net interest income was driven by the impact of higher interest rates across businesses and strong loan growth in Personal Banking and Wealth Management (PBWM). This was more than offset by lower non-interest revenues reflecting declines in Investment Banking and Markets in Institutional Clients Group (ICG) and investment product revenues in Global Wealth Management in PBWM.<br><br><br><br>Net income of $3.5 billion decreased 25% from the prior-year period, primarily driven by higher cost of credit resulting from the loan growth in PBWM and higher operating expenses.<br><br><br><br>Earnings per share of $1.63 decreased 24% from the prior-year period, reflecting the lower net income, partially offset by an approximate 4% decline in average diluted shares outstanding.

Percentage comparisons throughout this press release are calculated for the third quarter 2022 versus the third quarter 2021, unless otherwise specified.

Update Regarding Citi’s Operations in Russia

As part of the previously announced intent of Citi to reduce its operations in and exposure to Russia, Citi is now informing its multinational clients in Russia that it will be ending nearly all of the institutional banking services it offers in Russia by the end of the first quarter of 2023. Going forward, Citi’s only operations in Russia will be those necessary to fulfill its remaining legal and regulatory obligations. At this time, Citi does not expect the costs to be incurred in connection with this action to be material. In August, Citi announced the wind down of its Russia consumer and local commercial banking businesses including the pursuit of portfolio sales.

Third Quarter Financial Results


Citigroup (in millions, except per share amounts and as otherwise noted)	3Q’22		****	2Q'22		****	3Q'21		QoQ%	YoY%
Institutional Clients Group	$	9,468		$	11,419		$	9,991	(17)%	(5)%
Personal Banking and Wealth Management		6,187			6,029			5,852	3%	6%
Legacy Franchises		2,554			1,935			1,536	32%	66%
Corporate / Other		299			255			68	17%	NM
Total revenues, net of interest expense		18,508			19,638			17,447	(6)%	6%

Total operating expenses		12,749			12,393			11,777	3%	8%

Net credit losses		887			850			961	4%	(8)%
Net ACL build / (release)(a)		370			375			(1,162)	(1)%	NM
Other provisions(b)		108			49			9	NM	NM
Total cost of credit		1,365			1,274			(192)	7%	NM

Income from continuing operations before income taxes		4,394			5,971			5,862	(26)%	(25)%
Provision for income taxes		879			1,182			1,193	(26)%	(26)%
Income from continuing operations		3,515			4,789			4,669	(27)%	(25)%
Income (loss) from discontinued operations, net of taxes(6)		(6)			(221)			(1)	97%	NM
Net income attributable to non-controlling interest		30			21			24	43%	25%
Citigroup's net income	$	3,479		$	4,547		$	4,644	(23)%	(25)%


Income (loss) from continuing operations, net of taxes
Institutional Clients Group		2,186			3,978			3,115	(45)%	(30)%
Personal Banking and Wealth Management		792			553			1,896	43%	(58)%
Legacy Franchises		316			(15)			(201)	NM	NM
Corporate / Other		221			273			(141)	(19)%	NM


EOP loans (B)		646			657			665	(2)%	(3)%
EOP assets (B)		2,381			2,381			2,362	-	1%
EOP deposits (B)		1,307			1,322			1,348	(1)%	(3)%


Book value per share	$	92.71		$	92.95		$	92.16	-	1%
Tangible book value per share(4)	$	80.34		$	80.25		$	79.07	-	2%
Common Equity Tier 1 (CET1) Capital ratio(2)		12.2%			11.9%			11.7%
Supplementary Leverage ratio (SLR)(2)		5.7%			5.6%			5.8%
Return on average common equity		7.1%			9.7%			9.5%
Return on average tangible common equity (RoTCE)(1)		8.2%			11.2%			11.0%

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 $18.5 billion in the third quarter 2022 increased 6%. Excluding the gain on sale of the Philippines consumer business in the quarter and the loss on sale of the Australia consumer business in the prior-year period, revenues were down 1%, as the impact of higher interest rates across businesses and strong loan growth in PBWM were more than offset by declines in Investment Banking and Markets and investment product revenues in Global Wealth Management.

Citigroup operating expenses of $12.7 billion in the third quarter 2022 increased 8%, largely driven by transformation investments, business-led investments, inflation and other risk and control initiatives and volume-related expenses, partially offset by productivity savings and the benefit of foreign exchange translation. Operating expenses included approximately $107 million of divestiture-related costs this quarter^(5)^. Excluding these costs, expenses increased 7%.

Citigroup cost of credit of $1.4 billion in the third quarter 2022, compared to $(0.2) billion in the prior-year period, reflecting a net build in the allowance for credit losses (ACL) for loans and unfunded commitments of $0.4 billion, primarily due to the loan growth in PBWM, compared to a net ACL release of $1.2 billion in the prior-year period, partially offset by lower net credit losses.

Citigroup net income of $3.5 billion in the third quarter 2022 decreased 25% from the prior-year period, primarily driven by the higher cost of credit and the higher expenses, partially offset by the increase in revenues. Citigroup’s effective tax rate was 20.0% in the current quarter versus 20.4% in the third quarter 2021.

Citigroup’s total allowance for credit losses on loans was approximately $16.3 billion at quarter end, with a reserve-to-funded loans ratio of 2.54%, compared to $17.7 billion, or 2.69% of funded loans, at the end of the prior-year period. Total non-accrual loans decreased 28% from the prior-year period to $2.9 billion. Consumer non-accrual loans decreased 25% to $1.4 billion and corporate non-accrual loans decreased 30% to $1.5 billion.

Citigroup’s end-of-period loans were $646 billion at quarter end, down 3% versus the prior-year period, largely driven by the impact of foreign exchange translation and lower balances in Legacy Franchises.

Citigroup’s end-of-period deposits were $1.3 trillion at quarter end, down 3% versus the prior-year period, largely driven by declines in Legacy Franchises and the impact of foreign exchange translation, partially offset by the issuance of institutional certificates of deposit, as Citigroup continues to diversify its funding profile.

Citigroup’s book value per share of $92.71 and tangible book value per share of $80.34 at quarter end increased 1% and 2%, respectively, largely driven by the net income and lower shares outstanding, partially offset by adverse movements in the accumulated other comprehensive income (AOCI) component of equity and common dividends. At quarter end, Citigroup’s CET1 Capital ratio was 12.2% versus 11.9% in the second quarter 2022, reflecting the benefits of the net income, the sale of the Philippines consumer business and the optimization of risk-weighted assets (RWA), partly offset by interest rate impacts on unrealized available-for-sale securities losses through Citigroup’s investment portfolio and changes in deferred tax assets. Citigroup’s Supplementary Leverage ratio for the third quarter 2022 was 5.7% versus 5.6% in the second quarter 2022. During the quarter, Citigroup returned a total of $1.0 billion to common shareholders in the form of dividends.


Institutional Clients Group( in millions, except as otherwise noted)	3Q'22		****	2Q'22		****	3Q'21		QoQ%	YoY%
Securities Services	$	968		$	994		$	844	(3)%	15%
Treasury and Trade Solutions		3,209			3,029			2,297	6%	40%
Total Services revenues		4,177			4,023			3,141	4%	33%
Fixed Income Markets		3,062			4,084			3,040	(25)%	1%
Equity Markets		1,006			1,236			1,347	(19)%	(25)%
Total Markets revenues		4,068			5,320			4,387	(24)%	(7)%
Investment Banking		631			805			1,777	(22)%	(64)%
Corporate Lending(a)		648			777			732	(17)%	(11)%
Total Banking revenues(a)		1,279			1,582			2,509	(19)%	(49)%
Product revenues, net of interest expense(a)		9,524			10,925			10,037	(13)%	(5)%
Gain / (loss) on loan hedges		(56)			494			(46)	NM	(22)%
Total revenues, net of interest expense		9,468			11,419			9,991	(17)%	(5)%

Total operating expenses		6,541			6,434			5,963	2%	10%

Net credit losses		-			18			31	(100)%	(100)%
Net ACL build / (release)(b)		16			(245)			1	NM	NM
Other provisions(c)		70			25			(8)	NM	NM
Total cost of credit		86			(202)			24	NM	NM

Net income	$	2,162		$	3,961		$	3,091	(45)%	(30)%


Services Key Drivers
Cross border transaction value (B)		76			79			69	(5)%	10%
Commercial card spend volume (B)		16			15			11	4%	49%
US dollar clearing volume (#MM)		38			37			37	2%	2%
Assets under custody and/or administration (AUC/AUA) (T)		21			21			23	(1)%	(8)%

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 7.

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

Institutional Clients Group

ICG revenues of $9.5 billion decreased 5% (including gain/(loss) on loan hedges)^(7)^, as strong revenue growth in Services was more than offset by lower revenues across Markets and Banking.

Services revenues of $4.2 billion increased 33%. Treasury and Trade Solutions (TTS) revenues of $3.2 billion increased 40%, driven by 61% growth in net interest income and 8% growth in non-interest revenue. Strong performance in TTS was driven by business actions, which included managing deposit repricing, deepening of relationships with existing clients, and significant new client wins across all segments, as well as the benefit of higher interest rates. Securities Services revenues of $968 million increased 15%, as net interest income increased 73%, driven by higher interest rates across currencies, partially offset by a 6% decrease in non-interest revenue due to the impact of market valuations.

Markets revenues of $4.1 billion were down 7%, largely driven by lower client activity levels in Equity Markets and spread products, and the optimization of RWA. Fixed Income Markets revenues of $3.1 billion increased 1%, as strength in rates and currencies was largely offset by continued headwinds in spread products. Equity Markets revenues of $1.0 billion were down 25%, primarily reflecting reduced client activity in equity derivatives relative to a very strong quarter in the prior-year period.

Banking revenues of $1.2 billion decreased 50%, including losses on loan hedges in the current quarter and the prior-year period. Excluding losses on loan hedges, Banking revenues of $1.3 billion decreased 49%, driven by lower revenues in Investment Banking and Corporate Lending. Investment Banking revenues of $631 million decreased 64%, as heightened macroeconomic uncertainty and volatility continued to impact client activity. Excluding losses on loan hedges, Corporate Lending revenues decreased 11% versus the prior-year period, driven by lower volumes and higher credit default swap premiums.

ICG operating expenses of $6.5 billion increased 10%, driven by transformation investments, business-led investments, and volume-related expenses, partially offset by productivity savings and foreign exchange translation.

ICG cost of credit of $86 million, compared to $24 million in the prior-year period, included a modest net ACL build for loans and unfunded commitments driven by macroeconomic uncertainty, which was mostly offset by a partial release of a COVID-19 related uncertainty reserve. Net credit losses for the quarter were nearly zero.

ICG net income of $2.2 billion decreased 30%, largely driven by the lower revenues, the higher expenses and the higher cost of credit.


Personal Banking and Wealth Management ( in millions, except as otherwise noted)	3Q'22		****	2Q'22		****	3Q'21		QoQ%	YoY%
Branded Cards	$	2,258		$	2,168		$	2,045	4%	10%
Retail Services		1,431			1,300			1,277	10%	12%
Retail Banking		642			656			629	(2)%	2%
Total US Personal Banking revenues		4,331			4,124			3,951	5%	10%
Private Bank		649			745			722	(13)%	(10)%
Wealth at Work		182			170			172	7%	6%
Citigold		1,025			990			1,007	4%	2%
Total Global Wealth Management revenues		1,856			1,905			1,901	(3)%	(2)%
Total revenues, net of interest expense		6,187			6,029			5,852	3%	6%

Total operating expenses		4,077			3,985			3,624	2%	13%

Net credit losses		723			699			641	3%	13%
Net ACL build / (release)(a)		379			651			(843)	(42)%	NM
Other provisions(b)		7			5			1	40%	NM
Total cost of credit		1,109			1,355			(201)	(18)%	NM

Net income	$	792		$	553		$	1,896	43%	(58)%

Key Indicators (B)
US Personal Banking average loans		174			167			158	4%	10%
US Personal Banking average deposits		115			116			114	(1)%	1%
US cards average loans		138			133			124	4%	11%
US credit card spend volume(c)		145			148			129	(2)%	13%
Global Wealth Management client assets		708			730			789	(3)%	(10)%
Global Wealth Management average loans		151			150			151	1%	-
Global Wealth Management average deposits		313			319			310	(2)%	1%

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 $6.2 billion increased 6%, as net interest income growth, driven by higher interest rates and strong loan growth across Branded Cards, Retail Services and Retail Banking, was partially offset by a decline in non-interest revenue, driven by lower investment fee revenues in Global Wealth Management and higher partner payments in Retail Services.

US Personal Banking revenues of $4.3 billion increased 10%. Branded Cards revenues of $2.3 billion increased 10%, driven by the higher net interest income. In Branded Cards, new account acquisitions increased 10%, card spend volumes increased 14% and average loans increased 12%. Retail Services revenues of $1.4 billion increased 12%, driven by the higher net interest income, partially offset by the higher partner payments. Retail Banking revenues of $642 million increased 2%, primarily driven by the higher interest rates and deposit growth.

Global Wealth Management revenues of $1.9 billion decreased 2%, as investment fee headwinds, particularly in Asia, more than offset net interest income growth from the higher interest rates. Excluding Asia^(8)^, revenues increased 4%.

PBWM operating expenses of $4.1 billion increased 13%, primarily driven by transformation investments, other risk and control initiatives, business-led investments and volume-driven expenses, partially offset by productivity savings.

PBWM cost of credit of $1.1 billion compared to $(0.2) billion in the prior-year period. The increase was largely driven by a net ACL build of $0.4 billion in the current quarter for loans and unfunded commitments, primarily driven by cards volume growth, compared to a net ACL release of $0.8 billion in the prior-year period for loans and unfunded commitments. Net credit losses of $723 million increased 13% from near historically low levels, reflecting ongoing normalization, particularly in Retail Services.

PBWM net income of $792 million decreased 58%, largely driven by the net ACL release in third quarter 2021, versus a net ACL build in the current quarter.


Legacy Franchises( in millions, except as otherwise noted)	3Q'22		****	2Q'22		****	3Q'21		QoQ%	YoY%
Asia Consumer	$	1,372		$	880		$	330	56%	NM
Mexico Consumer/SBMM(a)		1,173			1,184			1,162	(1)%	1%
Legacy Holdings Assets		9			(129)			44	NM	(80)%
Total Legacy revenues, net of interest expense		2,554			1,935			1,536	32%	66%

Total operating expenses		1,845			1,814			1,748	2%	6%

Net credit losses		164			133			289	23%	(43)%
Net ACL build / (release)(b)		(25)			(31)			(320)	19%	92%
Other provisions(c)		28			19			17	47%	65%
Total cost of credit		167			121			(14)	38%	NM

Net income (loss)	$	316		$	(17)		$	(200)	NM	NM

Key Indicators (B)
Asia Consumer EOP loans		13			17			43	(23)%	(69)%
Asia Consumer EOP deposits		15			17			47	(15)%	(69)%
Mexico Consumer/SBMM EOP loans(a)		21			21			19	-	7%
Mexico Consumer/SBMM EOP deposits(a)		36			36			31	1%	14%
Legacy Holdings EOP loans		3			3			4	-	(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 $2.6 billion increased 66%, primarily driven by the Philippines consumer business gain on sale and the absence of the Australia consumer business loss on sale in the prior-year period, partially offset by the Korea wind-down as well as the impact of the Australia and the Philippines consumer exits.

Legacy Franchises expenses of $1.8 billion increased 6%, driven by divestiture-related costs in Asia and Mexico.

Legacy Franchises cost of credit of $167 million, compared to $(14) million in the prior-year period, primarily driven by a lower net ACL release in the current quarter for loans and unfunded commitments, partially offset by lower net credit losses.

Legacy Franchises net income of $316 million, compared to a net loss of $200 million in the prior-year period, primarily reflecting the Philippines gain on sale in the quarter and the Australia loss on sale in the prior-year period.


Corporate / Other( in millions)	3Q'22		****	2Q'22		****	3Q'21		QoQ%	YoY%
Revenues, net of interest expense	$	299		$	255		$	68	17%	NM

Total operating expenses		286			160			442	79%	(35)%

Total cost of credit(a)		3			-			(1)	NM	NM

Income (loss) from continuing operations		221			273			(141)	(19)%	NM

Net income (loss)	$	209		$	50		$	(143)	NM	NM

All values are in US Dollars.

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

Corporate / Other

Corporate / Other revenues increased to $299 million from $68 million in the prior-year period, largely driven by higher net revenue from the investment portfolio due to higher interest rates, partially offset by mark-to-market on certain derivative transactions.

Corporate / Other expenses of $286 million decreased 35%.

Corporate / Other income from continuing operations of $221 million, compared to a loss of $141 million in the prior-year period, reflecting the higher revenues and the lower expenses.

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 (203) 518-9859 (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 Third Quarter 2022 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 more than 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 rules and regulations of the Private Securities Litigation and 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: higher inflation and its impacts; higher interest rates and the impacts on macroeconomic conditions, customer and client behavior, as well as Citi’s funding costs; the increasing potential of recession in Europe, the U.S. and other countries; significant disruptions and volatility in financial markets; distress and volatility in emerging markets; foreign currency volatility and devaluations; the impacts related to or resulting from the Russia-Ukraine war, including Citi’s ability to wind down its activities in Russia, whether due to governmental or regulatory approvals, requirements or actions or otherwise, as well as the broader impacts to financial markets and the global macroeconomic and geopolitical environments; consummation of Citi’s exits and other wind-downs, and the impact of any additional CTA or other losses; macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the impacts to the U.S. and global economies; election outcomes; 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 2021 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	$3,479
Less: Preferred Dividends	277
Net Income to Common Shareholders	$3,202

Common Share Repurchases	-
Common Dividends	1,001
Total Capital Returned to Common Shareholders	$1,001

Payout Ratio	31%

Average TCE	$155,511

RoTCE	8.2%

All values are in US Dollars.

Appendix B


Citigroup( in millions, except per share amounts)	3Q'22		****	3Q'21		****	YoY
Total Citigroup Revenues - As Reported	$	18,508		$	17,447		6%
Less:
Total Asia Divestiture Impact on Revenues	$	614		$	(657)
Total Citigroup Revenues, Excluding Asia Divestiture Impacts	$	17,894		$	18,104		(1)%


Total Citigroup Operating Expenses - As Reported	$	12,749		$	11,777		8%
Less:
Total Asia Divestiture Impact on Operating Expenses	$	107		$	-
Total Citigroup Operating Expenses, Excluding Asia Divestiture Impacts	$	12,642		$	11,777		7%


Citigroup Diluted EPS - As Reported	$	1.63
Less:
Total Asia Divestiture Impact on Citigroup Diluted EPS	$	0.13
Citigroup Diluted EPS, Excluding Asia Divestiture Impact	$	1.50


Citigroup RoTCE - As Reported		8.2%
Less:
Total Asia Divestiture Impact on Citigroup RoTCE		0.7%
Citigroup RoTCE, Excluding Asia Divestiture Impacts		7.5%

Private Bank Wealth Management( in millions)		3Q'22			3Q'21		YoY
PBWM - Global Wealth Management Revenues - As Reported	$	1,856		$	1,901		(2)%
Less:
Asia Revenues	$	578		$	677
PBWM - Global Wealth Management Revenues - Excluding Asia Revenues	$	1,278		$	1,224		4%

All values are in US Dollars.

Appendix C


( in millions)	3Q'22^(1)^		****	2Q'22		****	3Q'21

Citigroup Common Stockholders' Equity(2)	$	179,696		$	180,150		$	183,005
Add: Qualifying noncontrolling interests		113			129			136
Regulatory Capital Adjustments and Deductions:
Add: CECL transition provision(3)		2,271			2,271			3,389
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(2,869)			(2,106)			663
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		3,211			2,145			(1,317)
Intangible Assets:
Goodwill, net of related deferred tax liabilities (DTLs)(4)		18,796			19,504			20,689
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,492			3,599			3,899
Defined benefit pension plan net assets; other		1,931			2,038			2,068
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards		11,690			11,679			10,897
Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs(5)		1,261			798			-
Common Equity Tier 1 Capital (CET1)(6)	$	144,568		$	144,893		$	149,631

Risk-Weighted Assets (RWA)(3)(6)	$	1,189,800		$	1,217,459		$	1,284,316

Common Equity Tier 1 Capital Ratio (CET1 / RWA)(6)		12.2%	****		11.9%			11.7%

All values are in US Dollars.

Note: Citi’s reportable CET1 Capital ratios were derived under the Basel III Standardized Approach framework for all periods reflected. This reflects the more binding CET1 Capital ratios under both the Standardized Approach and the Advanced Approaches under the Collins Amendment.

(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)	Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. As of June 30, 2022 and September 30, 2022, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
---	---
(6)	Certain prior period amounts and ratios have been revised to conform with enhancements made in the current period.
---	---

Appendix D


( in millions)	3Q'22^(1)^			2Q'22			3Q'21

Common Equity Tier 1 Capital (CET1)(2)	$	144,568		$	144,893		$	149,631

Additional Tier 1 Capital (AT1)(3)		20,265			20,266			19,271

Total Tier 1 Capital (T1C) (CET1 + AT1)	$	164,833		$	165,159		$	168,902

Total Leverage Exposure (TLE)(2)(4)	$	2,888,592		$	2,935,289		$	2,911,050

Supplementary Leverage Ratio (T1C / TLE)		5.7%	****		5.6%	****		5.8%

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.
---	---
(4)	Certain prior period amounts and ratios have been revised to conform with enhancements made in the current period.
---	---

Appendix E


( and shares in millions, except per share amounts)	3Q'22^(1)^		****	2Q'22		****	3Q'21

Common Stockholders' Equity	$	179,565		$	180,019		$	182,880
Less:
Goodwill		19,326			19,597			21,573
Intangible Assets (other than MSRs)		3,838			3,926			4,144
Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Assets Held-for-Sale		794			1,081			257
Tangible Common Equity (TCE)	$	155,607		$	155,415		$	156,906

Common Shares Outstanding (CSO)		1,937			1,937			1,984

Tangible Book Value Per Share	$	80.34		$	80.25		$	79.07

All values are in US Dollars.

(1)	Preliminary

^(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.

^(2)^ Ratios as of September 30, 2022 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 September 30, 2022 would be 11.9% and 5.6%, respectively, on a fully reflected basis. For additional information, please refer to the “Capital Resources” section of Citigroup’s 2021 Annual Report on Form 10-K. Certain prior-period amounts have been revised to conform with enhancements made in the current period.

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. For a reconciliation of this measure to reported results, see Appendix E.

^(5)^ Third quarter 2022 results included the impact of approximately $520 million in earnings before taxes (approximately $256 million after-tax) related to the sale of the Philippines consumer business and other Asia consumer exits, which primarily consisted of an approximate $616 million Philippines gain on sale recorded in Other revenue as well as an approximate $107 million of aggregate divestiture-related costs recorded in Operating expenses, both within Legacy Franchises. Third quarter 2021 results included Asia divestiture-related impacts of $657 million recorded in Other revenue within Legacy Franchises, primarily driven by a loss on sale of the Australia consumer business. Results of operations excluding the Philippines gain on sale or the Australia loss on sale are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix B.

^(6)^ Second quarter 2022 discontinued operations reflect the release of a currency translation adjustment (CTA) loss (net of hedges) recorded in 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 .

^(7)^ Credit derivatives are used to economically hedge a portion of the Corporate Loan portfolio that includes both accrual loans and loans at fair value. Gains / (losses) 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 third quarter 2022, gains / (losses) on loan hedges included $(56) million related to Corporate Lending, compared to $(46) 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 gains / (losses) on loan hedges are non-GAAP financial measures.

^(8)^ Global Wealth Management revenues in Asia were $578 million for the third quarter 2022 and $677 million for the third quarter 2021. Results of operations for Global Wealth Management excluding revenues in Asia are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix B . 12

Exhibit 99.2

citi-r_2c-blu_pos_rgb


CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT	****	3Q22	****


		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)

																												YTD 2022 vs.
																	3Q22 Increase/						Nine			Nine		YTD 2021
			3Q			4Q			1Q			2Q			3Q		(Decrease) from						Months			Months		Increase/
	****		2021	****		2021	****		2022	****		2022	****		2022	****	2Q22	****	3Q21	****	****		2021	****		2022	****	(Decrease)
Total revenues, net of interest expense^(1)(2)(3)^	****	$	17,447	****	$	17,017	****	$	19,186	****	$	19,638	****	$	18,508	****	(6%)	****	6%			$	54,867	****	$	57,332	****	4%
Total operating expenses^(1)(3)(4)^			11,777			13,532			13,165			12,393			12,749		3%		8%				34,661			38,307		11%
Net credit losses (NCLs)			961			866			872			850			887		4%		(8%)				4,029			2,609		(35%)
Credit reserve build / (release) for loans			(1,149)			(1,176)			(612)			534			441		(17%)		NM				(6,822)			363		NM
Provision / (release) for unfunded lending commitments			(13)			(193)			474			(159)			(71)		55%		NM				(595)			244		NM
Provisions for benefits and claims, HTM debt securities and other assets			9			38			21			49			108		NM		NM				75			178		NM
Provisions for credit losses and for benefits and claims			(192)			(465)			755			1,274			1,365		7%		NM				(3,313)			3,394		NM
Income from continuing operations before income taxes			5,862			3,950			5,266			5,971			4,394		(26%)		(25%)				23,519			15,631		(34%)
Income taxes^(5)^			1,193			771			941			1,182			879		(26%)		(26%)				4,680			3,002		(36%)
Income from continuing operations			4,669			3,179			4,325			4,789			3,515		(27%)		(25%)				18,839			12,629		(33%)
Income (loss) from discontinued operations, net of taxes^(6)^			(1)			-			(2)			(221)			(6)		97%		NM				7			(229)		NM
Net income before noncontrolling interests			4,668			3,179			4,323			4,568			3,509		(23%)		(25%)				18,846			12,400		(34%)
Net income (loss) attributable to noncontrolling interests			24			6			17			21			30		43%		25%				67			68		1%
Citigroup's net income		$	4,644		$	3,173		$	4,306		$	4,547		$	3,479		(23%)		(25%)			$	18,779		$	12,332		(34%)

Diluted earnings per share:
Income from continuing operations		$	2.15		$	1.46		$	2.02		$	2.30		$	1.63		(29%)		(24%)			$	8.64		$	5.95		(31%)
Citigroup's net income		$	2.15		$	1.46		$	2.02		$	2.19		$	1.63		(26%)		(24%)			$	8.65		$	5.84		(32%)

Preferred dividends		$	266		$	229		$	279		$	238		$	277		16%		4%			$	811		$	794		(2%)

Income allocated to unrestricted common shareholders - basic
Income from continuing operations		$	4,353		$	2,924		$	4,004		$	4,495		$	3,180		(29%)		(27%)			$	17,827		$	11,677		(34%)
Citigroup's net income		$	4,352		$	2,924		$	4,002			4,274		$	3,174		(26%)		(27%)			$	17,834		$	11,449		(36%)

Income allocated to unrestricted common shareholders - diluted
Income from continuing operations		$	4,361		$	2,932		$	4,012		$	4,506		$	3,191		(29%)		(27%)			$	17,851		$	11,707		(34%)
Citigroup's net income		$	4,360		$	2,932		$	4,010		$	4,285		$	3,185		(26%)		(27%)			$	17,857		$	11,479		(36%)

Shares (in millions):
Average basic			2,009.3			1,984.3			1,971.7			1,941.5			1,936.8		-		(4%)				2,049.3			1,950.0		(5%)
Average diluted			2,026.2			2,001.6			1,988.2			1,958.1			1,955.1		-		(4%)				2,065.3			1,967.1		(5%)
Common shares outstanding, at period end			1,984.3			1,984.4			1,941.9			1,936.7			1,936.9		-		(2%)


Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(7)(8)(9)^			11.65	%		12.25	%		11.38	%		11.90	%		12.2	%
Tier 1 Capital ratio^(7)(8)(9)^			13.15	%		13.91	%		12.98	%		13.57	%		13.9	%
Total Capital ratio^(7)(8)(9)^			15.37	%		16.04	%		14.84	%		15.16	%		15.0	%
Supplementary Leverage ratio (SLR)^(7)(9)(10)^			5.80	%		5.73	%		5.58	%		5.63	%		5.7	%
Return on average assets			0.79	%		0.53	%		0.74	%		0.77	%		0.58	%							1.08%			0.69%
Return on average common equity			9.5	%		6.4	%		9.0	%		9.7	%		7.1	%							13.2%			8.6%
Average tangible common equity (TCE) (in billions of dollars)		$	157.4		$	157.0		$	155.3		$	154.4		$	155.5		1%		(1%)			$	156.0		$	155.4		-
Return on average tangible common equity^^(RoTCE)			11.0	%		7.4	%		10.5	%		11.2	%		8.2	%							15.4%			9.9%
Efficiency ratio (total operating expenses/total revenues, net)			67.5	%		79.5	%		68.6	%		63.1	%		68.9	%	580 bps		140 bps				63.2%			66.8%		360 bps

Balance sheet data (in billions of dollars, except per share amounts):
Total assets		$	2,361.9		$	2,291.4		$	2,394.1		$	2,380.9		$	2,381.1		-		1%
Total average assets			2,346.0			2,386.2			2,374.0			2,380.1			2,399.4		1%		2%				2,334.9			2,384.5		2%
Total loans			664.8			667.8			659.7			657.3			646.0		(2%)		(3%)
Total deposits			1,347.5			1,317.2			1,333.7			1,321.8			1,306.5		(1%)		(3%)
Citigroup's stockholders' equity			200.9			202.0			197.7			199.0			198.6		-		(1%)
Book value per share			92.16			92.21			92.03			92.95			92.71		-		1%
Tangible book value per share			79.07			79.16			79.03			80.25			80.34		-		2%

Direct staff (in thousands)			220			223			228			231			238		3%		8%

(1)	During the fourth quarter of 2021, Citi reclassified deposit insurance expenses from Interest expense to Other operating expenses for all periods presented. For additional information, see Note 1 to the Consolidated Financial Statements in Citi's 2021 Annual Report on Form 10-K.
(2)	3Q21 includes an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi's agreement to sell its Australia consumer banking business.
---	---
(3)	3Q22 includes an approximate $616 million gain on sale recorded on Other revenue (approximately $290 million, after various taxes), related to Citi's sale of the Philippines consumer banking business.
---	---
(4)	4Q21 includes approximately $1.052 billion in expenses (approximately $792 million after-tax), primarily related to charges incurred from the voluntary early retirement plan (VERP) in connection with the wind-down of Citi's consumer banking business in Korea.
---	---
(5)	2021 includes an approximate $600 million benefit from a reduction in Citi’s valuation allowance related to its Deferred Tax Assets (DTAs).
---	---
(6)	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.
---	---
(7)	3Q22 is preliminary.
---	---
(8)	For all periods presented, Citi's reportable CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Standardized Approach framework, whereas Citi's reportable Total Capital ratios were derived under the Basel III Advanced Approaches framework. These reportable ratios reflect the more binding ratios under both the Standardized Approach and the Advanced Approaches under the Collins Amendment. For the composition of Citi's CET1 Capital and ratio, see page 18.
---	---
(9)	Citi's regulatory capital ratios 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" in Citi's 2021 Annual Report on Form 10-K.
---	---
(10)	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. Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)


		3Q			4Q			1Q			2Q			3Q			3Q22 Increase/ (Decrease) from			Nine Months			Nine Months		****	YTD 2022 vs. YTD 2021 Increase/
****	****	2021		****	2021		****	2022		****	2022		****	2022		****	2Q22	****	3Q21	2021		****	2022			(Decrease)

Revenues
Interest revenue		$	12,650		$	12,828		$	13,151		$	15,630		$	19,919		27%		57%	$	37,647		$	48,700		29%
Interest expense^(1)^			1,959			2,009			2,280			3,666			7,356		NM		NM		5,972			13,302		NM
Net interest income (NII)			10,691			10,819			10,871			11,964			12,563		5%		18%		31,675			35,398		12%

Commissions and fees			3,399			3,229			2,568			2,452			2,139		(13%)		(37%)		10,443			7,159		(31%)
Principal transactions			2,233			1,704			4,590			4,525			2,625		(42%)		18%		8,450			11,740		39%
Administrative and other fiduciary fees			1,007			953			966			1,023			915		(11%)		(9%)		2,990			2,904		(3%)
Realized gains (losses) on investments			117			10			80			(58)			52		NM		(56%)		655			74		(89%)
Impairment losses on investments and other assets			(30)			(94)			(90)			(96)			(91)		5%		NM		(112)			(277)		NM
Provision for credit losses on AFS debt securities^(2)^			(1)			(2)			-			2			5		NM		NM		(1)			7		NM
Other revenue (loss)			31			398			201			(174)			300		NM		NM		767			327		(57%)
Total non-interest revenues (NIR)			6,756			6,198			8,315			7,674			5,945		(23%)		(12%)		23,192			21,934		(5%)
Total revenues, net of interest expense			17,447			17,017			19,186			19,638			18,508		(6%)		6%		54,867			57,332		4%

Provisions for credit losses and for benefits and claims
Net credit losses			961			866			872			850			887		4%		(8%)		4,029			2,609		(35%)
Credit reserve build / (release) for loans			(1,149)			(1,176)			(612)			534			441		(17%)		NM		(6,822)			363		NM
Provision for credit losses on loans			(188)			(310)			260			1,384			1,328		(4%)		NM		(2,793)			2,972		NM
Provision for credit losses on held-to-maturity (HTM) debt securities			(10)			14			(2)			20			10		(50%)		NM		(17)			28		NM
Provision for credit losses on other assets			(3)			(3)			(4)			7			73		NM		NM		3			76		NM
Policyholder benefits and claims			22			27			27			22			25		14%		14%		89			74		(17%)
Provision for credit losses on unfunded lending commitments			(13)			(193)			474			(159)			(71)		55%		NM		(595)			244		NM
Total provisions for credit losses and for benefits and claims^(3)^			(192)			(465)			755			1,274			1,365		7%		NM		(3,313)			3,394		NM

Operating expenses
Compensation and benefits			6,058			7,093			6,820			6,472			6,745		4%		11%		18,041			20,037		11%
Premises and equipment			560			620			543			619			557		(10%)		(1%)		1,694			1,719		1%
Technology / communication			1,997			2,084			2,016			2,068			2,145		4%		7%		5,744			6,229		8%
Advertising and marketing			402			478			311			414			407		(2%)		1%		1,012			1,132		12%
Other operating^(1)^			2,760			3,257			3,475			2,820			2,895		3%		5%		8,170			9,190		12%
Total operating expenses			11,777			13,532			13,165			12,393			12,749		3%		8%		34,661			38,307		11%

Income from continuing operations before income taxes			5,862			3,950			5,266			5,971			4,394		(26%)		(25%)		23,519			15,631		(34%)
Provision for income taxes ^(4)^			1,193			771			941			1,182			879		(26%)		(26%)		4,680			3,002		(36%)

Income (loss) from continuing operations			4,669			3,179			4,325			4,789			3,515		(27%)		(25%)		18,839			12,629		(33%)
Discontinued operations^(5)^
Income (loss) from discontinued operations			(1)			-			(2)			(262)			(6)		98%		NM		7			(270)		NM
Provision (benefit) for income taxes			-			-			-			(41)			-		100%		-		-			(41)		NM
Income (loss) from discontinued operations, net of taxes			(1)			-			(2)			(221)			(6)		97%		NM		7			(229)		NM

Net income before noncontrolling interests			4,668			3,179			4,323			4,568			3,509		(23%)		(25%)		18,846			12,400		(34%)
Net income (loss) attributable to noncontrolling interests			24			6			17			21			30		43%		25%		67			68		1%
Citigroup's net income		$	4,644		$	3,173		$	4,306		$	4,547		$	3,479		(23%)		(25%)	$	18,779		$	12,332		(34%)

(1)	See footnote 1 on page 1.
(2)	This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.
---	---
(3)	This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.
---	---
(4)	See footnote 5 on page 1.
---	---
(5)	See footnote 6 on page 1.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation. Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)


																	3Q22 Increase/
		September 30,			December 31,			March 31,			June 30,			September 30,			(Decrease) from
	****	2021		****	2021		****	2022		****	2022		****	2022^(1)^		****	2Q22	****	3Q21
Assets
Cash and due from banks (including segregated cash and other deposits)		$	28,906		$	27,515		$	27,768		$	24,902		$	26,502		6%		(8%)
Deposits with banks, net of allowance			294,902			234,518			244,319			259,128			273,105		5%		(7%)
Securities borrowed and purchased under agreements to resell, net of allowance			337,696			327,288			345,410			361,334			349,214		(3%)		3%
Brokerage receivables, net of allowance			59,487			54,340			89,218			80,486			79,696		(1%)		34%
Trading account assets			342,914			331,945			357,997			340,875			358,260		5%		4%
Investments
Available-for-sale debt securities, net of allowance			295,573			288,522			264,774			238,499			232,143		(3%)		(21%)
Held-to-maturity debt securities, net of allowance			198,056			216,963			242,547			267,592			267,864		-		35%
Equity securities			7,220			7,337			7,281			7,787			8,009		3%		11%
Total investments			500,849			512,822			514,602			513,878			508,016		(1%)		1%
Loans, net of unearned income
Consumer^(2)^			369,292			376,534			350,328			355,605			357,583		1%		(3%)
Corporate^(3)^			295,472			291,233			309,341			301,728			288,377		(4%)		(2%)
Loans, net of unearned income			664,764			667,767			659,669			657,333			645,960		(2%)		(3%)
Allowance for credit losses on loans (ACLL)			(17,715)			(16,455)			(15,393)			(15,952)			(16,309)		(2%)		8%
Total loans, net			647,049			651,312			644,276			641,381			629,651		(2%)		(3%)
Goodwill			21,573			21,299			19,865			19,597			19,326		(1%)		(10%)
Intangible assets (including MSRs)			4,553			4,495			4,522			4,526			4,485		(1%)		(1%)
Other assets, net of allowance			123,947			125,879			146,128			134,797			132,809		(1%)		7%
Total assets		$	2,361,876		$	2,291,413		$	2,394,105		$	2,380,904		$	2,381,064		-		1%

Liabilities
Non-interest-bearing deposits in U.S. offices		$	145,103		$	158,552		$	153,666		$	147,214		$	135,514		(8%)		(7%)
Interest-bearing deposits in U.S. offices			567,902			543,283			557,327			565,785			570,920		1%		1%
Total U.S. deposits			713,005			701,835			710,993			712,999			706,434		(1%)		(1%)
Non-interest-bearing deposits in offices outside the U.S.			94,016			97,270			98,579			100,266			98,904		(1%)		5%
Interest-bearing deposits in offices outside the U.S.			540,507			518,125			524,139			508,583			501,148		(1%)		(7%)
Total international deposits			634,523			615,395			622,718			608,849			600,052		(1%)		(5%)

Total deposits			1,347,528			1,317,230			1,333,711			1,321,848			1,306,486		(1%)		(3%)
Securities loaned and sold under agreements to resell			209,184			191,285			204,494			198,472			203,429		2%		(3%)
Brokerage payables			60,501			61,430			91,324			96,474			87,841		(9%)		45%
Trading account liabilities			179,286			161,529			188,059			180,453			196,479		9%		10%
Short-term borrowings			29,683			27,973			30,144			40,054			47,368		18%		60%
Long-term debt			258,274			254,374			253,954			257,425			253,068		(2%)		(2%)
Other liabilities^(4)^			75,810			74,920			94,066			86,552			87,276		1%		15%
Total liabilities		$	2,160,266		$	2,088,741		$	2,195,752		$	2,181,278		$	2,181,947		-		1%

Equity
Stockholders' equity
Preferred stock		$	17,995		$	18,995		$	18,995		$	18,995		$	18,995		-		6%
Common stock			31			31			31			31			31		-		-
Additional paid-in capital			107,922			108,003			108,050			108,210			108,347		-		-
Retained earnings			183,024			184,948			187,962			191,261			193,462		1%		6%
Treasury stock, at cost			(71,246)			(71,240)			(73,744)			(73,988)			(73,977)		-		(4%)
Accumulated other comprehensive income (loss) (AOCI)^(5)^			(36,851)			(38,765)			(43,585)			(45,495)			(48,298)		(6%)		(31%)
Total common equity		$	182,880		$	182,977		$	178,714		$	180,019		$	179,565		-		(2%)

Total Citigroup stockholders' equity		$	200,875		$	201,972		$	197,709		$	199,014		$	198,560		-		(1%)
Noncontrolling interests			735			700			644			612			557		(9%)		(24%)
Total equity			201,610			202,672			198,353			199,626			199,117		-		(1%)
Total liabilities and equity		$	2,361,876		$	2,291,413		$	2,394,105		$	2,380,904		$	2,381,064		-		1%

(1)	Preliminary.
(2)	Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business & 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.
---	---
(5)	As discussed in footnote 2 on page 1, Citi's third quarter of 2021 results include an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi’s agreement to sell its Australia consumer banking business. The loss primarily reflects the impact of an approximate $625 million ($475 million (after-tax)) currency translation adjustment (CTA) loss (net of hedges) at September 30, 2021, December 31, 2021 and March 31, 2022, already reflected in the Accumulated Other Comprehensive Income (AOCI) component of equity. The sale closed during the second quarter of 2022, and the CTA balance was removed from the AOCI component of equity as of the end of the second quarter of 2022, resulting in a neutral impact from CTA to Citi’s Common Equity Tier 1 Capital.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 3

OPERATING SEGMENT AND REPORTING UNIT DETAILS

(In millions of dollars)

																3Q22 Increase/		Nine		Nine		YTD 2022 vs.
		3Q			4Q			1Q			2Q			3Q		(Decrease) from		Months		Months		YTD 2021 Increase/
		2021			2021			2022			2022			2022		2Q22	3Q21	2021		2022		(Decrease)
Net revenues
Institutional Clients Group		$	9,991		$	8,908		$	11,160		$	11,419		$	9,468	(17%)	(5%)	$	30,928	$	32,047	4%
Personal Banking and Wealth Management			5,852			5,785			5,905			6,029			6,187	3%	6%		17,542		18,121	3%
Legacy Franchises			1,536			2,193			1,931			1,935			2,554	32%	66%		6,058		6,420	6%
Corporate/Other			68			131			190			255			299	17%	NM		339		744	NM

Total net revenues		$	17,447		$	17,017		$	19,186		$	19,638		$	18,508	(6%)	6%	$	54,867	$	57,332	4%

Income from continuing operations
Institutional Clients Group		$	3,115		$	2,330		$	2,658		$	3,978		$	2,186	(45%)	(30%)	$	11,978	$	8,822	(26%)
Personal Banking and Wealth Management			1,896			1,613			1,860			553			792	43%	(58%)		6,121		3,205	(48%)
Legacy Franchises			(201)			(620)			(385)			(15)			316	NM	NM		611		(84)	NM
Corporate/Other			(141)			(144)			192			273			221	(19%)	NM		129		686	NM

Income from continuing operations		$	4,669		$	3,179		$	4,325		$	4,789		$	3,515	(27%)	(25%)	$	18,839	$	12,629	(33%)

Discontinued operations			(1)			-			(2)			(221)			(6)	97%	NM		7		(229)	NM
Net income attributable to noncontrolling interests			24			6			17			21			30	43%	25%		67		68	1%

Net income	****	$	4,644	****	$	3,173	****	$	4,306	****	$	4,547	****	$	3,479	(23%)	(25%)	$	18,779	$	12,332	(34%)

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 4

INSTITUTIONAL CLIENTS GROUP

(In millions of dollars, except as otherwise noted)

											3Q22 Increase/		Nine		Nine		YTD 2022 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2021 Increase/
	2021		2021		2022		2022		2022		2Q22	3Q21	2021		2022		(Decrease)
Commissions and fees	$	1,055	$	1,064	$	1,130	$	1,125	$	1,082	(4%)	3%		3,236		3,337	3%
Administration and other fiduciary fees		676		662		672		732		651	(11%)	(4%)		2,031		2,055	1%
Investment banking fees^(1)^		1,685		1,669		1,039		990		816	(18%)	(52%)		5,040		2,845	(44%)
Principal transactions		2,229		1,654		4,442		4,358		2,776	(36%)	25%		8,109		11,576	43%
Other		608		91		93		(306)		(427)	(40%)	NM		1,281		(640)	NM
Total non-interest revenue		6,253		5,140		7,376		6,899		4,898	(29%)	(22%)		19,697		19,173	(3%)
Net interest income (including dividends)		3,738		3,768		3,784		4,520		4,570	1%	22%		11,231		12,874	15%
Total revenues, net of interest expense		9,991		8,908		11,160		11,419		9,468	(17%)	(5%)		30,928		32,047	4%
Total operating expenses		5,963		6,225		6,723		6,434		6,541	2%	10%		17,724		19,698	11%
Net credit losses on loans		31		82		30		18		-	(100%)	(100%)		274		48	(82%)
Credit reserve build / (release) for loans		14		(192)		596		(76)		75	NM	NM		(1,901)		595	NM
Provision for credit losses on unfunded lending commitments		(13)		(181)		352		(169)		(59)	65%	NM		(572)		124	NM
Provisions for credit losses for HTM debt securities and other assets		(8)		10		(7)		25		70	NM	NM		(10)		88	NM
Provision for credit losses		24		(281)		971		(202)		86	NM	NM		(2,209)		855	NM
Income from continuing operations before taxes		4,004		2,964		3,466		5,187		2,841	(45%)	(29%)		15,413		11,494	(25%)
Income taxes		889		634		808		1,209		655	(46%)	(26%)		3,435		2,672	(22%)
Income from continuing operations		3,115		2,330		2,658		3,978		2,186	(45%)	(30%)		11,978		8,822	(26%)
Noncontrolling interests		24		10		18		17		24	41%	-		73		59	(19%)
Net income	$	3,091	$	2,320	$	2,640	$	3,961	$	2,162	(45%)	(30%)	$	11,905	$	8,763	(26%)
EOP assets (in billions)	$	1,670	$	1,613	$	1,704	$	1,700	$	1,706	-	2%
Average assets (in billions)		1,660		1,698		1,685		1,698		1,729	2%	4%		1,659		1,704	3%
Efficiency ratio		60%		70%		60%		56%		69%	1,300 bps	900 bps		57%		61%	400 bps

Revenue by reporting unit
Services	$	3,141	$	3,258	$	3,448	$	4,023	$	4,177	4%	33%	$	9,281	$	11,648	26%
Markets		4,387		3,343		5,826		5,320		4,068	(24%)	(7%)		14,575		15,214	4%
Banking		2,463		2,307		1,886		2,076		1,223	(41%)	(50%)		7,072		5,185	(27%)
Total revenues, net of interest expense	$	9,991	$	8,908	$	11,160	$	11,419	$	9,468	(17%)	(5%)	$	30,928	$	32,047	4%

Revenue by region
North America	$	3,727	$	3,278	$	3,722	$	4,410	$	3,091	(30%)	(17%)	$	11,481	$	11,223	(2%)
EMEA		2,981		2,705		4,030		3,566		3,099	(13%)	4%		9,710		10,695	10%
Latin America		1,129		1,113		1,141		1,266		1,202	(5%)	6%		3,164		3,609	14%
Asia		2,154		1,812		2,267		2,177		2,076	(5%)	(4%)		6,573		6,520	(1%)
Total revenues, net of interest expense	$	9,991	$	8,908	$	11,160	$	11,419	$	9,468	(17%)	(5%)	$	30,928	$	32,047	4%

Income (loss) from continuing operations by region
North America	$	718	$	768	$	589	$	1,501	$	97	(94%)	(86%)	$	4,321	$	2,187	(49%)
EMEA		990		672		928		1,172		1,003	(14%)	1%		3,531		3,103	(12%)
Latin America		580		473		359		544		426	(22%)	(27%)		1,587		1,329	(16%)
Asia		827		417		782		761		660	(13%)	(20%)		2,539		2,203	(13%)
Income (loss) from continuing operations	$	3,115	$	2,330	$	2,658	$	3,978	$	2,186	(45%)	(30%)	$	11,978	$	8,822	(26%)

Average loans by reporting unit (in billions)
Services	$	76	$	77	$	81	$	85	$	82	(4%)	8%	$	73	$	82	12%
Banking		196		195		194		199		197	(1%)	1%		197		197	-
Markets		17		17		14		13		12	(8%)	(29%)		16		13	(19%)
Total	$	289	$	289	$	289	$	297	$	291	(2%)	1%	$	286	$	292	2%

Average deposits by reporting unit and selected component (in billions)
Treasury and trade solutions (TTS)	$	668	$	684	$	664	$	665	$	664	-	(1%)	$	658	$	664	1%
Securities services		135		140		135		137		131	(4%)	(3%)		133		134	1%
Services		803		824		799		802		795	(1%)	(1%)		791		798	1%
Markets		28		28		27		28		22	(21%)	(21%)		28		26	(7%)
Total	$	831	$	852	$	826	$	830	$	817	(2%)	(2%)	$	819	$	824	1%

Services Key Drivers (in billions of dollars, except as otherwise noted)
AUC/AUA (in trillions of dollars)	$	22.6	$	23.7	$	23.0	$	21.2	$	20.9	(1%)	(8%)
Cross border transaction value	$	69.0	$	78.2	$	75.6	$	79.3	$	75.6	(5%)	10%	$	201.3	$	230.5	15%
U.S.-dollar clearing volume (in millions)		37.0		37.8		36.1		36.7		37.6	2%	2%		108.4		110.4	2%
Commercial card spend volume	$	10.5	$	11.4	$	11.4	$	15.0	$	15.6	4%	49%	$	27.2	$	42.0	54%

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

NM Not meaningful.

Reclassified to conform to the current period's presentation. Page 5

INSTITUTIONAL CLIENTS GROUP

REPORTING UNIT REVENUES

(In millions of dollars, except as otherwise noted)

																	3Q22 Increase/					Nine			Nine			YTD 2022 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from					Months			Months			YTD 2021 Increase/
Services	****	2021		****	2021		****	2022		****	2022		****	2022		****	2Q22	****	3Q21	****	****	2021		****	2022		****	(Decrease)
Net interest income		$	1,613		$	1,682		$	1,907		$	2,327		$	2,619		13%		62%			$	4,870		$	6,853		41%
Non-interest revenue			1,528			1,576			1,541			1,696			1,558		(8%)		2%				4,411			4,795		9%
Total Services revenues		$	3,141		$	3,258		$	3,448		$	4,023		$	4,177		4%		33%	****		$	9,281		$	11,648		26%

Net interest income		$	1,389		$	1,444		$	1,659		$	2,026		$	2,232		10%		61%			$	4,221		$	5,917		40%
Non-interest revenue			908			960			931			1,003			977		(3%)		8%				2,549			2,911		14%
Treasury and trade solutions		$	2,297		$	2,404		$	2,590		$	3,029		$	3,209		6%	****	40%			$	6,770		$	8,828		30%

Net interest income		$	224		$	238		$	248		$	301		$	387		29%		73%			$	649		$	936		44%
Non-interest revenue			620			616			610			693			581		(16%)		(6%)				1,862			1,884		1%
Securities services		$	844		$	854		$	858		$	994		$	968		(3%)		15%			$	2,511		$	2,820		12%


Markets
Net interest income		$	1,265		$	1,250		$	1,109		$	1,383		$	1,228		(11%)		(3%)			$	3,953		$	3,720		(6%)
Non-interest revenue			3,122			2,093			4,717			3,937			2,840		(28%)		(9%)				10,622			11,494		8%
Total Markets revenues		$	4,387		$	3,343		$	5,826		$	5,320		$	4,068		(24%)		(7%)			$	14,575		$	15,214		4%

Fixed income markets		$	3,040		$	2,425		$	4,299		$	4,084		$	3,062		(25%)		1%			$	10,497		$	11,445		9%
Equity markets			1,347			918			1,527			1,236			1,006		(19%)		(25%)				4,078			3,769		(8%)
Total		$	4,387		$	3,343		$	5,826		$	5,320		$	4,068		(24%)		(7%)			$	14,575		$	15,214		4%

Rates and currencies		$	2,112		$	1,721		$	3,231		$	3,277		$	2,492		(24%)		18%			$	7,114		$	9,000		27%
Spread products / other fixed income			928			704			1,068			807			570		(29%)		(39%)				3,383			2,445		(28%)
Total fixed income markets revenues		$	3,040		$	2,425		$	4,299		$	4,084		$	3,062		(25%)		1%			$	10,497		$	11,445		9%


Banking
Net interest income		$	860		$	836		$	768		$	810		$	723		(11%)		(16%)			$	2,408		$	2,301		(4%)
Non-interest revenue			1,603			1,471			1,118			1,266			500		(61%)		(69%)				4,664			2,884		(38%)
Total Banking revenues, including gain/(loss) on loan hedges		$	2,463		$	2,307		$	1,886		$	2,076		$	1,223		(41%)		(50%)			$	7,072		$	5,185		(27%)

Investment banking
Advisory		$	539		$	571		$	347		$	357		$	392		10%		(27%)			$	1,225		$	1,096		(11%)
Equity underwriting			468			462			185			177			100		(44%)		(79%)				1,787			462		(74%)
Debt underwriting			770			520			496			271			139		(49%)		(82%)				2,066			906		(56%)
Total investment banking			1,777			1,553			1,028			805			631		(22%)		(64%)				5,078			2,464		(51%)
Corporate lending - excluding gain/(loss) on loan hedges^(1)^			732			733			689			777			648		(17%)		(11%)				2,155			2,114		(2%)
Total Banking revenues (ex-gain/(loss) on loan hedges)^(1)^		$	2,509		$	2,286		$	1,717		$	1,582		$	1,279		(19%)		(49%)			$	7,233		$	4,578		(37%)
Gain/(loss) on loan hedges^(1)^			(46)			21			169			494			(56)		NM		(22%)				(161)			607		NM
Total Banking revenues including gain/(loss) on loan hedges^(1)^		$	2,463		$	2,307		$	1,886		$	2,076		$	1,223		(41%)		(50%)			$	7,072		$	5,185		(27%)


Total ICG revenues, net of interest expense		$	9,991		$	8,908		$	11,160		$	11,419		$	9,468		(17%)		(5%)			$	30,928		$	32,047		4%
Taxable-equivalent adjustments^(2)^			105			159			100			116			115		(1%)		10%				400			331		(17%)

Total ICG revenues - including taxable-equivalent adjustments^(2)^		$	10,096		$	9,067		$	11,260		$	11,535		$	9,583		(17%)		(5%)			$	31,328		$	32,378		3%

(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.

Page 6

PERSONAL BANKING AND WEALTH MANAGEMENT

(In millions of dollars, except as otherwise noted)

																	3Q22 Increase/					Nine			Nine			YTD 2022 vs.
		3Q			4Q			1Q			2Q			3Q			(Decrease) from					Months			Months			YTD 2021 Increase/
	****	2021		****	2021		****	2022		****	2022		****	2022		****	2Q22	****	3Q21	****	****	2021		****	2022		****	(Decrease)
Net interest income		$	5,174		$	5,322		$	5,385		$	5,569		$	5,836		5%		13%			$	15,324		$	16,790		10%
Non-interest revenue			678			463			520			460			351		(24%)		(48%)				2,218			1,331		(40%)
Total revenues, net of interest expense			5,852			5,785			5,905			6,029			6,187		3%		6%				17,542			18,121		3%
Total operating expenses			3,624			4,017			3,889			3,985			4,077		2%		13%				10,593			11,951		13%
Net credit losses on loans			641			568			691			699			723		3%		13%				2,493			2,113		(15%)
Credit reserve build / (release) for loans			(836)			(866)			(1,062)			638			360		(44%)		NM				(3,418)			(64)		98%
Provision for credit losses on unfunded lending commitments			(7)			(3)			(2)			13			19		46%		NM				(13)			30		NM
Provisions for benefits and claims, and other assets			1			5			(3)			5			7		40%		NM				10			9		(10%)
Provisions for credit losses and for benefits and claims (PBC)			(201)			(296)			(376)			1,355			1,109		(18%)		NM				(928)			2,088		NM
Income (loss) from continuing operations before taxes			2,429			2,064			2,392			689			1,001		45%		(59%)				7,877			4,082		(48%)
Income taxes (benefits)			533			451			532			136			209		54%		(61%)				1,756			877		(50%)
Income (loss) from continuing operations			1,896			1,613			1,860			553			792		43%		(58%)				6,121			3,205		(48%)
Noncontrolling interests			-			-			-			-			-		-		-				-			-		-
Net income (loss)		$	1,896		$	1,613		$	1,860		$	553		$	792		43%		(58%)			$	6,121		$	3,205		(48%)
EOP assets (in billions)		$	477		$	464		$	476		$	479		$	479		-		-
Average assets (in billions)			474			476			474			474			473		-		-				463			474		2%
Efficiency ratio			62%			69%			66%			66%			66%		0 bps		400 bps				60%			66%		600 bps

Revenue by reporting unit and component
Branded cards		$	2,045		$	2,073		$	2,090		$	2,168		$	2,258		4%		10%			$	6,117		$	6,516		7%
Retail services			1,277			1,290			1,299			1,300			1,431		10%		12%				3,792			4,030		6%
Retail banking			629			624			595			656			642		(2%)		2%				1,882			1,893		1%
U.S. Personal Banking			3,951			3,987			3,984			4,124			4,331		5%		10%				11,791			12,439		5%
Private bank			722			688			779			745			649		(13%)		(10%)				2,255			2,173		(4%)
Wealth at Work			172			177			183			170			182		7%		6%				514			535		4%
Citigold			1,007			933			959			990			1,025		4%		2%				2,982			2,974		-
Global Wealth Management			1,901			1,798			1,921			1,905			1,856		(3%)		(2%)				5,751			5,682		(1%)
Total		$	5,852		$	5,785		$	5,905		$	6,029		$	6,187		3%		6%			$	17,542		$	18,121		3%

Average loans by reporting unit (in billions)
U.S. Personal Banking		$	158		$	162		$	161		$	167		$	174		4%		10%			$	158		$	167		6%
Global Wealth Management			151			150			151			150			151		1%		-				147			151		3%
Total		$	309		$	312		$	312		$	317		$	325		3%		5%			$	305		$	318		4%

Average deposits by reporting unit (in billions)
U.S. Personal Banking		$	114		$	114		$	118		$	116		$	115		(1%)		1%			$	111		$	117		5%
Global Wealth Management			310			323			329			319			313		(2%)		1%				299			320		7%
Total		$	424		$	437		$	447		$	435		$	428		(2%)		1%			$	410		$	437		7%

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 7

PERSONAL BANKING AND WEALTH MANAGEMENT

Metrics

											3Q22 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2021		2021		2022		2022		2022		2Q22	3Q21
U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise noted)

New account acquisitions (in thousands)
Branded cards		995		1,069		991		1,069		1,090	2%	10%
Retail services		2,526		3,126		2,178		2,634		2,339	(11%)	(7%)
Credit card spend volume
Branded cards	$	106.0	$	115.2	$	106.8	$	121.8	$	120.7	(1%)	14%
Retail services		22.7		27.1		21.4		26.1		24.5	(6%)	8%
Average loans^(1)^
Branded cards	$	81.9	$	84.5	$	84.0	$	87.9	$	91.8	4%	12%
Retail services		42.4		43.8		44.2		44.8		46.1	3%	9%
EOP loans^(1)^
Branded cards	$	82.8	$	87.9	$	85.9	$	91.6	$	93.7	2%	13%
Retail services		42.7		46.0		44.1		45.8		46.7	2%	9%
NII as a % of average loans^(2)^
Branded cards		9.00%		8.93%		9.16%		8.86%		8.98%
Retail services		16.54%		16.55%		16.93%		17.32%		17.45%
NCLs as a % of average loans
Branded cards		1.73%		1.33%		1.46%		1.50%		1.50%
Retail services		2.23%		2.10%		2.31%		2.60%		2.71%
Loans 90+ days past due as a % of EOP loans
Branded cards		0.44%		0.44%		0.47%		0.46%		0.51%
Retail services		0.99%		1.05%		1.15%		1.16%		1.35%
Loans 30-89 days past due as a % of EOP loans
Branded cards		0.45%		0.46%		0.49%		0.47%		0.59%
Retail services		1.10%		1.17%		1.27%		1.27%		1.53%

Average deposits	$	114	$	114	$	118	$	116	$	115	(1%)	1%
Branches (actual)		658		658		658		658		653	(1%)	(1%)
Mortgage originations	$	3.4	$	3.4	$	3.1	$	4.1	$	4.2	2%	24%

Global Wealth Management Key Indicators (in billions of dollars)
Client assets	$	789	$	814	$	788	$	730	$	708	(3%)	(10%)
Average loans		151		150		151		150		151	1%	-
Average deposits		310		323		329		319		313	(2%)	1%
U.S. mortgage originations		3.8		3.5		3.7		5.3		4.4	(17%)	16%

(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.

Page 8

LEGACY FRANCHISES^(1)^

(In millions of dollars, except as otherwise noted)

																3Q22 Increase/		Nine			Nine			YTD 2022 vs.
	3Q			4Q			1Q			2Q			3Q			(Decrease) from		Months			Months			YTD 2021 Increase/
	2021			2021			2022			2022			2022			2Q22	3Q21	2021			2022			(Decrease)
Net interest income	$	1,532		$	1,534		$	1,508		$	1,474		$	1,385		(6%)	(10%)	$	4,716		$	4,367		(7%)
Non-interest revenue^(2)(3)^		4			659			423			461			1,169		NM	NM		1,342			2,053		53%
Total revenues, net of interest expense		1,536			2,193			1,931			1,935			2,554		32%	66%		6,058			6,420		6%
Total operating expenses^(3)(4)^		1,748			2,971			2,293			1,814			1,845		2%	6%		5,288			5,952		13%
Net credit losses on loans		289			216			151			133			164		23%	(43%)		1,262			448		(65%)
Credit reserve build / (release) for loans		(327)			(118)			(146)			(28)			6		NM	NM		(1,503)			(168)		89%
Provision for credit losses on unfunded lending commitments		7			(9)			124			(3)			(31)		NM	NM		(10)			90		NM
Provisions for benefits and claims, HTM debt securities and other assets		17			23			31			19			28		47%	65%		77			78		1%
Provisions for credit losses and for benefits and claims (PBC)		(14)			112			160			121			167		38%	NM		(174)			448		NM
Income from continuing operations before taxes		(198)			(890)			(522)			-			542		NM	NM		944			20		(98%)
Income taxes (benefits)		3			(270)			(137)			15			226		NM	NM		333			104		(69%)
Income (loss) from continuing operations		(201)			(620)			(385)			(15)			316		NM	NM		611			(84)		NM
Noncontrolling interests		(1)			(4)			(2)			2			-		(100%)	100%		(6)			-		100%
Net income (loss)	$	(200)		$	(616)		$	(383)		$	(17)		$	316		NM	NM	$	617		$	(84)		NM
EOP assets (in billions)	$	124		$	125		$	122		$	108		$	100		(7%)	(19%)
Average assets (in billions)		126			123			124			115			103		(10%)	(18%)		128			114		(11%)
Efficiency ratio		114	%		135	%		119	%		94	%		72	%	(2,200) bps	(4,200) bps		87	%		93	%	600 bps


Revenue by reporting unit and component
Asia Consumer	$	330		$	948		$	787		$	880		$	1,372		56%	NM	$	2,457		$	3,039		24%
Mexico Consumer/SBMM		1,162			1,168			1,139			1,184			1,173		(1%)	1%		3,483			3,496		-
Legacy Holdings Assets		44			77			5			(129)			9		NM	(80%)		118			(115)		NM
Total	$	1,536		$	2,193		$	1,931		$	1,935		$	2,554		32%	66%	$	6,058		$	6,420		6%

Asia Consumer - Key Indicators (in billions of dollars)
EOP loans	$	42.9		$	41.1		$	19.5		$	17.3		$	13.4		(23%)	(69%)
EOP deposits		46.6			43.3			17.5			17.2			14.6		(15%)	(69%)
Average loans		46.4			42.3			23.1			18.2			15.2		(16%)	(67%)	$	51.8		$	18.8		(64%)
NCLs as a % of average loans		1.10	%		0.96	%		0.79	%		0.77	%		1.02	%				1.31	%		0.85	%
Loans 90+ days past due as a % of EOP loans		0.60	%		0.51	%		0.28	%		0.29	%		0.35	%
Loans 30-89 days past due as a % of EOP loans		0.80	%		0.69	%		0.32	%		0.40	%		0.47	%

Mexico Consumer/SBMM - Key Indicators (in billions of dollars)
EOP loans	$	19.4		$	20.0		$	20.7		$	20.6		$	20.7		-	7%
EOP deposits		31.4			32.7			33.9			35.5			35.8		1%	14%
Average loans		19.6			19.4			19.6			20.5			20.4		-	4%	$	20.1		$	20.2		0%
NCLs as a % of average loans		3.70	%		2.72	%		2.55	%		2.15	%		2.64	%				5.43	%		2.44	%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.52	%		1.38	%		1.32	%		1.29	%		1.26	%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.46	%		1.30	%		1.30	%		1.18	%		1.23	%

Legacy Holdings Assets - Key Indicators (in billions of dollars)
EOP loans	$	4.2		$	3.9		$	3.7		$	3.2		$	3.2		-	(24%)

(1)	Legacy Franchises consists of the consumer franchises in 13 markets across Asia and EMEA that Citi intends to exit (Asia Consumer), the consumer, small business & 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 2 on page 1.
---	---
(3)	See footnote 3 on page 1.
---	---
(4)	See footnote 4 on page 1.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 9

CORPORATE / OTHER^(1)^

(In millions of dollars, except as otherwise noted)

											3Q22 Increase/				Nine			Nine			YTD 2022 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from				Months			Months			YTD 2021 Increase/
	2021		2021		2022		2022		2022		2Q22	3Q21	****	****	2021		****	2022		****	(Decrease)
Net interest income	$	247	$	195	$	194	$	401	$	772	93%	NM			$	404		$	1,367		NM
Non-interest revenue		(179)		(64)		(4)		(146)		(473)	NM	NM				(65)			(623)		NM
Total revenues, net of interest expense		68		131		190		255		299	17%	NM				339			744		NM
Total operating expenses		442		319		260		160		286	79%	(35%)				1,056			706		(33%)
Provisions for HTM debt securities and other assets		(1)		-		-		-		3	NM	NM				(2)			3		NM
Income (loss) from continuing operations before taxes		(373)		(188)		(70)		95		10	(89%)	NM				(715)			35		NM
Income taxes (benefits)		(232)		(44)		(262)		(178)		(211)	(19%)	9%				(844)			(651)		23%
Income (loss) from continuing operations		(141)		(144)		192		273		221	(19%)	NM				129			686		NM
Income (loss) from discontinued operations, net of taxes^(2)^		(1)		-		(2)		(221)		(6)	97%	NM				7			(229)		NM
Noncontrolling interests		1		-		1		2		6	NM	NM				-			9		NM
Net income (loss)	$	(143)	$	(144)	$	189	$	50	$	209	NM	NM			$	136		$	448		NM
EOP assets (in billions)	$	91	$	89	$	92	$	94	$	96	2%	5%

(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 6 on page 1.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 10

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

Taxable Equivalent Basis

<br><br><br><br>	Average Volumes						Interest						% Average Rate ^(4)^
In millions of dollars, except as otherwise noted	3Q21		2Q22		3Q22^(5)^		3Q21		2Q22		3Q22^(5)^		3Q21		2Q22		3Q22^(5)^
Assets
Deposits with banks	$	294,160	$	227,377	$	256,444	$	147	$	658	$	1,218	0.20	%	1.16	%	1.88	%
Securities borrowed and purchased under resale agreements^(6)^		323,183		349,520		361,719		264		805		2,176	0.32	%	0.92	%	2.39	%
Trading account assets^(7)^		288,642		275,937		272,996		1,285		1,662		1,991	1.77	%	2.42	%	2.89	%
Investments		498,112		519,582		513,414		1,907		2,387		3,010	1.52	%	1.84	%	2.33	%

Consumer loans		373,216		352,531		356,347		6,567		6,601		7,380	6.98	%	7.51	%	8.22	%
Corporate loans		295,271		304,956		298,371		2,330		2,917		3,430	3.13	%	3.84	%	4.56	%
Total loans (net of unearned income)^(8)^		668,487		657,487		654,718		8,897		9,518		10,810	5.28	%	5.81	%	6.55	%
Other interest-earning assets		71,193		121,629		110,619		196		644		760	1.09	%	2.12	%	2.73	%
Total average interest-earning assets	$	2,143,777	$	2,151,532	$	2,169,910	$	12,696	$	15,674	$	19,965	2.35	%	2.92	%	3.65	%

Liabilities
Deposits^(9)^		1,097,790		1,068,002		1,075,359		730		1,420		3,270	0.26	%	0.53	%	1.21	%
Securities loaned and sold under repurchase agreements^(6)^		228,947		208,399		207,190		287		655		1,251	0.50	%	1.26	%	2.40	%
Trading account liabilities^(7)^		108,703		124,810		128,525		106		137		472	0.39	%	0.44	%	1.46	%
Short-term borrowings and other interest-bearing liabilities		92,716		154,239		154,322		8		268		745	0.03	%	0.70	%	1.92	%
Long-term debt^(10)^		185,784		168,724		169,329		828		1,186		1,618	1.77	%	2.82	%	3.79	%
Total average interest-bearing liabilities	$	1,713,940	$	1,724,174	$	1,734,725	$	1,959	$	3,666	$	7,356	0.45	%	0.85	%	1.68	%

Net interest income as a % of average interest-earning assets (NIM)^(9)^							$	10,737	$	12,008	$	12,609	1.99	%	2.24	%	2.31	%

3Q22 increase (decrease) from:													32	bps	7	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 $46 million for 3Q21, $44 million for 2Q22 and $46 million for 3Q22.
(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)	3Q22 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)	See footnote 1 on page 1.
---	---
(10)	Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.
---	---

Reclassified to conform to the current period's presentation.

Page 11

EOP LOANS^(1)(2)^

(In billions of dollars)


											3Q22 Increase/
	3Q		4Q		1Q		2Q		3Q		(Decrease) from
	2021		2021		2022		2022		2022		2Q22	3Q21

Corporate loans - by region
North America	$	127.7	$	126.7	$	129.2	$	129.9	$	125.9	(3%)	(1%)
EMEA		77.4		75.7		81.2		76.8		71.6	(7%)	(7%)
Latin America		31.6		32.2		35.9		36.2		35.4	(2%)	12%
Asia		58.8		56.6		63.0		58.8		55.5	(6%)	(6%)
Total corporate loans	$	295.5	$	291.2	$	309.3	$	301.7	$	288.4	(4%)	(2%)

Corporate loans - by reporting unit
Services	$	79.8	$	75.2	$	86.7	$	86.1	$	80.8	(6%)	1%
Markets		17.5		15.1		14.6		12.6		11.7	(7%)	(33%)
Banking		191.8		194.2		200.9		195.9		188.9	(4%)	(2%)
Legacy Franchises - Mexico SBMM		6.4		6.7		7.1		7.1		7.0	(1%)	9%
Total corporate loans	$	295.5	$	291.2	$	309.3	$	301.7	$	288.4	(4%)	(2%)


Personal Banking and Wealth Management
Branded cards	$	82.8	$	87.9	$	85.9	$	91.6	$	93.7	2%	13%
Retail services		42.7		46.0		44.1		45.8		46.7	2%	9%
Retail banking		33.4		33.0		33.3		35.4		35.8	1%	7%
U.S. Personal Banking	$	158.9	$	166.9	$	163.3	$	172.8	$	176.2	2%	11%
Global Wealth Management		150.3		151.3		150.2		148.8		151.1	2%	1%
Total	$	309.2	$	318.2	$	313.5	$	321.6	$	327.3	2%	6%

Legacy Franchises - Consumer
Asia Consumer^(3)^	$	42.9	$	41.1	$	19.5	$	17.3	$	13.4	(23%)	(69%)
Mexico Consumer		13.0		13.3		13.6		13.5		13.7	1%	5%
Legacy Holdings Assets		4.2		3.9		3.7		3.2		3.2	-	(24%)
Total	$	60.1	$	58.3	$	36.8	$	34.0	$	30.3	(11%)	(50%)

Total consumer loans	$	369.3	$	376.5	$	350.3	$	355.6	$	357.6	1%	(3%)

Total loans	$	664.8	$	667.8	$	659.7	$	657.3	$	646.0	(2%)	(3%)

(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 & 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.

Page 12

DEPOSITS

(In billions of dollars)

																	3Q22 Increase/
		3Q			4Q			1Q			2Q			3Q			(Decrease) from
	****	2021		****	2021		****	2022		****	2022		****	2022		****	2Q22	****	3Q21
ICG by region
North America		$	408.0		$	382.8		$	390.5		$	404.3		$	391.0		(3%)		(4%)
EMEA			200.3			193.1			208.6			210.7			197.7		(6%)		(1%)
Latin America			38.8			37.7			38.9			37.7			35.5		(6%)		(9%)
Asia			185.5			175.8			187.5			176.0			172.7		(2%)		(7%)
Total		$	832.6		$	789.4		$	825.5		$	828.7		$	796.9		(4%)		(4%)

ICG by reporting unit
Treasury and trade solutions		$	667.8		$	627.9		$	657.5		$	663.5		$	647.1		(2%)		(3%)
Securities services			136.7			133.8			138.7			136.3			127.8		(6%)		(7%)
Services		$	804.5		$	761.7		$	796.2		$	799.8		$	774.9		(3%)		(4%)
Markets			26.7			26.4			27.8			27.7			20.5		(26%)		(23%)
Banking			1.4			1.3			1.5			1.2			1.5		25%		7%
Total		$	832.6		$	789.4		$	825.5		$	828.7		$	796.9		(4%)		(4%)

Personal Banking and Wealth Management
U.S. Personal Banking		$	113.5		$	116.8		$	119.5		$	115.7		$	115.2		-		1%
Global Wealth Management			316.5			329.2			332.1			311.9			312.1		-		(1%)
Total		$	430.0		$	446.0		$	451.6		$	427.6		$	427.3		-		(1%)

Legacy Franchises
Asia Consumer^(1)^		$	46.6		$	43.3		$	17.5		$	17.2		$	14.6		(15%)		(69%)
Mexico Consumer/SBMM			31.4			32.7			33.9			35.5			35.8		1%		14%
Legacy Holdings Assets			-			-			-			-			-		-		-
Total		$	78.0		$	76.0		$	51.4		$	52.7		$	50.4		(4%)		(35%)

Corporate/Other			6.9			5.8			5.2			12.8			31.9		NM		NM

Total deposits - EOP		$	1,347.5		$	1,317.2		$	1,333.7		$	1,321.8		$	1,306.5		(1%)		(3%)

Total deposits - average		$	1,343.0		$	1,370.3		$	1,334.3		$	1,322.5		$	1,315.9		-		(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.

Page 13

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except for ratios)

																																																			ACLL/EOP
		Balance						Builds / (releases)															FY 2021				Balance				Builds / (releases)													YTD 2022				Balance			Loans
	****	12/31/20		****	****	1Q21			****	2Q21		****	3Q21		****	4Q21		****	****	FY 2021		****	FX/Other		****	****	12/31/21		****	****	1Q22		****	2Q22		****	3Q22		****	****	YTD 2022		****	FX/Other		****	****	9/30/22		****	9/30/22
Allowance for credit losses on loans (ACLL)
ICG		$	4,356			$	(1,103)			$	(812)		$	14		$	(192)			$	(2,093)		$	(22)			$	2,241			$	596		$	(76)		$	75			$	595		$	(31)			$	2,805
Legacy Franchises corporate (Mexico SBMM)			420				(124)				(51)			(61)			(1)				(237)			(9)				174				5			(3)			(34)				(32)			1				143
Total corporate ACLL		$	4,776			$	(1,227)			$	(863)		$	(47)		$	(193)			$	(2,330)		$	(31)			$	2,415			$	601		$	(79)		$	41			$	563		$	(30)			$	2,948		1.04%
U.S. Cards		$	14,665			$	(1,301)			$	(840)		$	(763)		$	(921)			$	(3,825)		$	-			$	10,840			$	(1,009)		$	447		$	303			$	(259)		$	(2)			$	10,579		7.53%
Retail banking and Global Wealth Management			1,643				(241)				(200)			(73)			55				(459)			(3)				1,181				(53)			191			57				195			(7)				1,369
Total PBWM		$	16,308			$	(1,542)			$	(1,040)		$	(836)		$	(866)			$	(4,284)		$	(3)			$	12,021			$	(1,062)		$	638		$	360			$	(64)		$	(9)			$	11,948
Legacy Franchises - consumer			3,872				(458)				(543)			(266)			(117)				(1,384)			(469)				2,019				(151)			(25)			40				(136)			(470)				1,413
Total consumer ACLL		$	20,180			$	(2,000)			$	(1,583)		$	(1,102)		$	(983)			$	(5,668)		$	(472)			$	14,040			$	(1,213)		$	613		$	400			$	(200)		$	(479)			$	13,361		3.74%
Total ACLL		$	24,956			$	(3,227)			$	(2,446)		$	(1,149)		$	(1,176)			$	(7,998)		$	(503)			$	16,455			$	(612)		$	534		$	441			$	363		$	(509)			$	16,309		2.54%
Allowance for credit losses on unfunded lending commitments (ACLUC)			2,655				(626)				44			(13)			(193)				(788)			4				1,871				474			(159)			(71)				244			(26)				2,089
Total ACLL and ACLUC (EOP)			27,611																									18,326																					18,398
Other^(1)^			146				1				1			(13)			11				-			2				148				(6)			27			83				104			4				256
Total allowance for credit losses (ACL)		$	27,757			$	(3,852)			$	(2,401)		$	(1,175)		$	(1,358)			$	(8,786)		$	(497)			$	18,474			$	(144)		$	402		$	453			$	711		$	(531)			$	18,654

(1)	Includes ACL on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

Page 14

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 1

(In millions of dollars)

											3Q22 Increase/		Nine		Nine		YTD 2022 vs.
	3Q		4Q		1Q		2Q		3Q		(Decrease) from		Months		Months		YTD 2021 Increase/
	2021		2021		2022		2022		2022		2Q22	3Q21	2021		2022		(Decrease)

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	19,238	$	17,715	$	16,455	$	15,393	$	15,952	4%	(17%)	$	24,956	$	16,455
Gross credit (losses) on loans		(1,389)		(1,279)		(1,240)		(1,212)		(1,237)	(2%)	11%		(5,441)		(3,689)	32%
Gross recoveries on loans		428		413		368		362		350	(3%)	(18%)		1,412		1,080	(24%)
Net credit (losses) / recoveries on loans (NCLs)		(961)		(866)		(872)		(850)		(887)	4%	(8%)		(4,029)		(2,609)	(35%)
Replenishment of NCLs		961		866		872		850		887	4%	(8%)		4,029		2,609	(35%)
Net reserve builds / (releases) for loans		(1,149)		(1,176)		(612)		534		441	(17%)	NM		(6,822)		363	NM
Provision for credit losses on loans (PCLL)		(188)		(310)		260		1,384		1,328	(4%)	NM		(2,793)		2,972	NM
Other, net^(1)(2)(3)(4)(5)(6)^		(374)		(84)		(450)		25		(84)	NM	78%		(419)		(509)
ACLL at end of period (a)	$	17,715	$	16,455	$	15,393	$	15,952	$	16,309	2%	(8%)	$	17,715	$	16,309

Allowance for credit losses on unfunded lending commitments (ACLUC)^(^^7)^ (a)	$	2,063	$	1,871	$	2,343	$	2,193	$	2,089	(5%)	1%	$	2,063	$	2,089

Provision (release) for credit losses on unfunded lending commitments	$	(13)	$	(193)	$	474	$	(159)	$	(71)	55%	NM	$	(595)	$	244

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	19,778	$	18,326	$	17,736	$	18,145	$	18,398	1%	(7%)	$	19,778	$	18,398

Total ACLL as a percentage of total loans^(8)^		2.69%		2.49%		2.35%		2.44%		2.54%

Consumer
ACLL at beginning of period	$	16,566	$	15,105	$	14,040	$	12,368	$	12,983	5%	(22%)	$	20,180	$	14,040
NCLs		(922)		(781)		(841)		(827)		(881)	7%	(4%)		(3,728)		(2,549)	(32%)
Replenishment of NCLs		922		781		841		827		881	7%	(4%)		3,728		2,549	(32%)
Net reserve builds / (releases) for loans		(1,102)		(983)		(1,213)		613		400	(35%)	NM		(4,685)		(200)	96%
Provision for credit losses on loans (PCLL)		(180)		(202)		(372)		1,440		1,281	(11%)	NM		(957)		2,349	NM
Other, net^(1)(2)(3)(4)(5)(6)^		(359)		(82)		(459)		2		(22)	NM	94%		(390)		(479)	(23%)
ACLL at end of period (b)	$	15,105	$	14,040	$	12,368	$	12,983	$	13,361	3%	(12%)	$	15,105	$	13,361

Consumer ACLUC^(7)^ (b)	$	35	$	29	$	139	$	165	$	143	(13%)	NM	$	35	$	143

Provision (release) for credit losses on unfunded lending commitments	$	(9)	$	(5)	$	109	$	19	$	(8)	NM	11%	$	(23)	$	120

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	15,140	$	14,069	$	12,507	$	13,148	$	13,504	3%	(11%)	$	15,140	$	13,504

Consumer ACLL as a percentage of total consumer loans		4.09%		3.73%		3.53%		3.65%		3.74%

Corporate
ACLL at beginning of period	$	2,672	$	2,610	$	2,415	$	3,025	$	2,969	(2%)	11%	$	4,776	$	2,415
NCLs		(39)		(85)		(31)		(23)		(6)	(74%)	(85%)		(301)		(60)	(80%)
Replenishment of NCLs		39		85		31		23		6	(74%)	(85%)		301		60	(80%)
Net reserve builds / (releases) for loans		(47)		(193)		601		(79)		41	NM	NM		(2,137)		563	NM
Provision for credit losses on loans (PCLL)		(8)		(108)		632		(56)		47	NM	NM		(1,836)		623	NM
Other, net^(1)^		(15)		(2)		9		23		(62)	NM	NM		(29)		(30)
ACLL at end of period (c)	$	2,610	$	2,415	$	3,025	$	2,969	$	2,948	(1%)	13%	$	2,610	$	2,948

Corporate ACLUC^(7)^ (c)	$	2,028	$	1,842	$	2,204	$	2,028	$	1,946	(4%)	(4%)	$	2,028	$	1,946

Provision (release) for credit losses on unfunded lending commitments	$	(4)	$	(188)	$	365	$	(178)	$	(63)	65%	NM	$	(572)	$	124

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	4,638	$	4,257	$	5,229	$	4,997	$	4,894	(2%)	6%	$	4,638	$	4,894

Corporate ACLL as a percentage of total corporate loans^(8)^		0.91%		0.85%		1.00%		1.00%		1.04%

Footnotes to this table are on the following page (page 16). Page 15

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 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.
(2)	3Q21 includes an approximate $280 million reclass related to the announced sale of Citi's consumer banking operations in Australia. The ACLL was reclassified to Other assets during 3Q21. 3Q21 consumer also includes a decrease of approximately $80 million related to FX translation.
---	---
(3)	4Q21 includes an approximate $90 million reclass related to the announced sale of Citi's consumer banking operations in the Philippines. The ACLL was reclassified to Other assets during 4Q21. 4Q21 consumer also includes a decrease of approximately $6 million related to FX translation.
---	---
(4)	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.
---	---
(5)	2Q22 primarily relates to FX translation.
---	---
(6)	3Q22 primarily relates to FX translation.
---	---
(7)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
---	---
(8)	September 30, 2021, December 31, 2021, March 31, 2022, June 30, 2022 and September 30, 2022 exclude $7.2 billion, $6.1 billion, $5.7 billion, $4.5 billion, and $3.9 billion respectively, of loans that are carried at fair value.
---	---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 16

NON-ACCRUAL ASSETS

(In millions of dollars)


																3Q22 Increase/
	3Q			4Q			1Q			2Q			3Q			(Decrease) from
	2021			2021			2022			2022			2022			2Q22	3Q21
Corporate non-accrual loans by region ^(1)^
North America	$	923		$	510		$	462		$	304		$	276		(9%)	(70%)
EMEA		407			367			688			712			598		(16%)	47%
Latin America		679			568			631			563			555		(1%)	(18%)
Asia		110			108			85			76			56		(26%)	(49%)
Total	$	2,119		$	1,553		$	1,866		$	1,655		$	1,485		(10%)	(30%)

Corporate non-accrual loans ^(1)^
Banking	$	1,739		$	1,239		$	1,323		$	1,015		$	1,085		7%	(38%)
Services		74			70			297			353			185		(48%)	NM
Markets		13			12			13			11			-		(100%)	(100%)
Mexico SBMM		293			232			233			276			215		(22%)	(27%)
Total	$	2,119		$	1,553		$	1,866		$	1,655		$	1,485		(10%)	(30%)

Consumer non-accrual loans ^(1)^
U.S. Personal Banking and Global Wealth Management	$	637		$	680		$	586		$	536		$	585		9%	(8%)
Asia Consumer^(2)^		259			209			38			34			30		(12%)	(88%)
Mexico Consumer		549			524			512			493			486		(1%)	(11%)
Legacy Holdings Assets - Consumer		425			413			381			317			300		(5%)	(29%)
Total	$	1,870		$	1,826		$	1,517		$	1,380		$	1,401		2%	(25%)

Total non-accrual loans (NAL)	$	3,989		$	3,379		$	3,383		$	3,035		$	2,886		(5%)	(28%)

Other real estate owned (OREO)^(3)^	$	21		$	27		$	26		$	13		$	16		23%	(24%)

NAL as a percentage of total loans		0.60	%		0.51	%		0.51	%		0.46	%		0.45	%

ACLL as a percentage of NAL		444	%		487	%		455	%		526	%		565	%

(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.

Page 17

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)

	September 30,		December 31,		March 31,		June 30,		September 30,
Common Equity Tier 1 Capital Ratio and Components ^(1)^	2021^(2)^		2021^(2)^		2022^(2)^		2022		2022^(3)^
Citigroup common stockholders' equity ^(4)^	$	183,005	$	183,108	$	178,845	$	180,150	$	179,696
Add: qualifying noncontrolling interests		136		143		126		129		113
Regulatory capital adjustments and deductions:
Add:
CECL transition provision ^(5)^		3,389		3,028		2,271		2,271		2,271
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		663		101		(1,440)		(2,106)		(2,869)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		(1,317)		(896)		27		2,145		3,211
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)^(6)^		20,689		20,619		20,120		19,504		18,796
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,899		3,800		3,698		3,599		3,492
Defined benefit pension plan net assets; other		2,068		2,080		2,230		2,038		1,931
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards		10,897		11,270		11,701		11,679		11,690
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs^(8)^		-		-		1,157		798		1,261
Common Equity Tier 1 Capital (CET1)	$	149,631	$	149,305	$	143,749	$	144,893	$	144,568
Risk-Weighted Assets (RWA)^(5)^	$	1,284,316	$	1,219,175	$	1,263,298	$	1,217,459	$	1,189,800
Common Equity Tier 1 Capital ratio (CET1/RWA)		11.65%		12.25%		11.38%		11.90%		12.2%

Supplementary Leverage Ratio and Components
Common Equity Tier 1 Capital (CET1)^(5)^	$	149,631	$	149,305	$	143,749	$	144,893	$	144,568
Additional Tier 1 Capital (AT1)^(7)^		19,271		20,263		20,266		20,266		20,265
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	168,902	$	169,568	$	164,015	$	165,159	$	164,833
Total Leverage Exposure (TLE)^(5)^	$	2,911,050	$	2,957,764	$	2,939,533	$	2,935,289	$	2,888,592
Supplementary Leverage ratio (T1C/TLE)		5.80%		5.73%		5.58%		5.63%		5.7%


Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders' equity	$	182,880	$	182,977	$	178,714	$	180,019	$	179,565
Less:
Goodwill		21,573		21,299		19,865		19,597		19,326
Intangible assets (other than MSRs)		4,144		4,091		4,002		3,926		3,838
Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS		257		510		1,384		1,081		794
Tangible common equity (TCE)	$	156,906	$	157,077	$	153,463	$	155,415	$	155,607
Common shares outstanding (CSO)		1,984.3		1,984.4		1,941.9		1,936.7		1,936.9
Book value per share (common equity/CSO)	$	92.16	$	92.21	$	92.03	$	92.95	$	92.71
Tangible book value per share (TCE/CSO)	$	79.07	$	79.16	$	79.03	$	80.25	$	80.34

(1)	See footnote 8 on page 1.
(2)	See footnote 5 on page 3.
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(3)	3Q22 is preliminary.
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(4)	Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
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(5)	See footnote 9 on page 1.
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(6)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.
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(7)	Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.
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(8)	Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. As of March 31, 2022, June 30, 2022 and September 30, 2022, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
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Reclassified to conform to the current period's presentation. Page 18


			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
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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