Citigroup, Inc. · NYSE:C
Citigroup — Debt Investor Presentation (May 2025)
23 slides from Citigroup's debt investor presentation, May 14, 2025
Slide 1: Fixed Income Investor Presentation First Quarter 2025
May 14, 2025 Fixed Income Investor Presentation First Quarter 2025
Slide 2: Key takeaways
Key takeaways • Net Income of $4.1 billion First Quarter 2025 Results • RoTCE(1) of 9.1% • Revenue $21.6 billion • 13.41% CET1 Capital Ratio(2) Strong Capital Position • 5.8% SLR(3) • Maintained surplus above binding TLAC requirement • 117% Liquidity Coverage Ratio Strong Liquidity Position • Total
Slide 3: Five interconnected businesses driving strong 1Q25 performance
Five interconnected businesses driving strong 1Q25 performance 1Q25 Firmwide Key Highlights Services USPB TTS : #1 Rank(3) Branded Cards and ✓ $21.6B of revenues, up 3% YoY Retail Services: #2 Securities Services: Rank in U.S. Cards(9) ✓ Record revenues in USPB and Wealth #1 in Direct Custody(4) Ret
Slide 4: Technology and Transformation progress in the first quarter 2025
Technology and Transformation progress in the first quarter 2025 Business Achievements Modernizing Our Bank and Improving Risk and Controls ✓ Services: Citi Payments Express live in 19 countries, with ✓ Continued to optimize, modernize and simplify the bank by increased volumes by 10x since 4Q24 ret
Slide 5: U.S. credit cards and corporate credit overview
U.S. credit cards and corporate credit overview Citi had nearly $23B in total reserves with a reserve-to-funded loans ratio of 2.7% as of March 31 ($ in B) U.S. Cards Loans Corporate Lending Exposure EOP Loans by Segment EOP Loans by FICO Score(1) By Region By Grade Rating International Exposure Oth
Slide 6: Capital and balance sheet overview
Capital and balance sheet overview ($ in B) Risk-based Capital & Liquidity Metrics(1) End of Period Assets QoQ YoY 1Q24 4Q24 1Q25 $2,572 9% 6% $2,433 $2,353 CET1 Capital 153 155 156 Cash 308 11% 13% 273 277 Standardized RWA 1,139 1,140 1,162 Investments, 453 (5)% (12)% 515 477 CET1 Capital Ratio - S
Slide 7: Access to diverse sources of funding (as of 3/31/2025)
Access to diverse sources of funding (as of 3/31/2025) (EOP $ in B, except as noted) Total Liabilities and Stockholders’ Equity Composition of Long-Term Debt Funding (%) Non-Bank Benchmark Debt Detail Bank Benchmark, 7% Securitizations, 2%(3) $2,572 $143B Non-Bank Benchmark Debt FHLB, 3% Other Non-B
Slide 8: Outstanding long-term debt trends
Outstanding long-term debt trends (EOP $ in B, except as noted) Senior Debt Customer-Related Debt(1) FHLB Bank Benchmark Subordinated Debt(2) Local Country & Other Securitizations $286 $299 $287 $296 $280 Total Citigroup $37 $36 $35 $33 3 $29 3 3 3 3 13 17 8 19 19 Bank 7 6 5 5 5 12 12 12 9 8 1Q2 4 2
Slide 9: Parent benchmark debt: issuance & maturities
Parent benchmark debt: issuance & maturities When determining its issuance agenda for 2025, Citi considers client activity, maturities and potential calls, and the ideal mix of composition across bank and non-bank entities Senior & Subordinated Debt: Issuance, Calls, Maturity Trends (as of 3/31/25)
Slide 10: Total loss-absorbing capacity requirements
Total loss-absorbing capacity requirements While Citi’s binding Total Loss-Absorbing Capacity Requirement is Long-Term Debt/Total Leverage Exposure, at $335B eligible TLAC and $149B eligible LTD the firm holds excess capital above all required ratios Required Ratio ($ in B) Total Loss-Absorbing Long
Slide 11: 1Q25 excess capital vs. required ratios
1Q25 excess capital vs. required ratios As of 1Q25, Citi remains compliant and has excess capital above all required ratios. For the Standardized CET1 Capital ratio, this includes a 100bps management buffer 1Q25 Actual 1Q25 Actual Ratio Variance Required Capital Variance Ratio Ratio Components Requi
Slide 12: Forward-looking statements
Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements are not g
Slide 13: Slide 13
Slide 14: Appendix
Appendix Table of Contents 15. 1Q25 Liquidity and investment portfolio metrics 17. Preferred stock dividends 16. Additional tier 1 capital securities (as of 3/31/2025) 18. Tangible common equity reconciliation and Citigroup returns
Slide 15: 1Q25 Liquidity and investment portfolio metrics
1Q25 Liquidity and investment portfolio metrics ($bn) Citigroup Average LCR (30-Day Stress) EOP Available Liquidity Resources(1) 4Q24 1Q25 LCR Ratio 116% 117% $553 $960 $474 $154 Composed of unencumbered Other Liquidity securities and unused borrowing Resources = $406 capacity $252 1Q25 LCR 117% Com
Slide 16: Additional tier 1 capital securities (as of 3/31/2025)
Additional tier 1 capital securities (as of 3/31/2025) Preferred Stock & Trust Preferred Securities Redemption price per Redeemable by Dividend Rate as of depositary share/ Number of Carrying value Series Issuance Date Issuer beginning March 31, 2025 preference share depositary shares (in millions o
Slide 17: Preferred stock dividends
Preferred stock dividends ($ in MM) (1) 2022 2023 2024 2025 1Q $279 $277 $279 $269 2Q 238 288 242 287 (2) 3Q 277 333 277 274 4Q 238 300 256 227 Total $1,032 $1,198 $1,054 $1,057 Note: Totals may not sum due to rounding. All footnotes are presented starting on Slide 20. 17
Slide 18: Tangible common equity reconciliation and Citigroup returns
Tangible common equity reconciliation and Citigroup returns Tangible Common Equity and Tangible Book Value Per Share Return on Tangible Common Equity (RoTCE) ($ in MM, except per share amounts) 1Q25 4Q24 1Q24 ($ in MM, except per share amounts) 1Q25 4Q24 1Q24 Common Stockholders' Equity $194,058 $19
Slide 19: Glossary
Glossary ACL: Allowance for Credit Losses FHLB: Federal Home Loan Banks QoQ: Quarter-Over-Quarter ACLL: Allowance for Credit Losses on Loans FI: Fixed Income RoTCE: Return on Average Tangible Common Equity AFS: Available for Sale FICO: Fair Isaac Corporation RWA: Risk-Weighted Assets AI: Artificial
Slide 20: Footnotes
Footnotes Slide 2 (Key takeaways) 1) Return on Tangible Common Equity (RoTCE) is a non-GAAP financial measure. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE. For a reconciliation to reported results, please refer to Slide 18. 2) Citigroup’s bi
Slide 21: Footnotes (cont.)
Footnotes (cont.) Slide 5 (U.S. cards and corporate credit overview) 1) FICO scores are updated as they become available. Citi adjusted its disclosures for U.S. credit card FICO score distribution in 1Q24 to align with industry reporting practices using a threshold of 660 versus the 680 threshold us
Slide 22: Footnotes (cont.)
Footnotes (cont.) Slide 7 (Access to diverse sources of funding (as of 3/31/2025)) 1) Other liabilities include noncontrolling interests. 2) Trading-related liabilities include securities loaned and sold under agreements to repurchase and trading account liabilities and brokerage payables. 3) Securi
Slide 23: Footnotes (cont.)
Footnotes (cont.) Slide 15 (1Q25 Liquidity and investment portfolio metrics) 1) Available Liquidity Resources is defined as end-of-period HQLA; additional unencumbered securities, including excess liquidity held at bank entities that is non-transferable to other entities within Citigroup; and availa