Citibank

A PROJEC REPORT
ON
SUBMITTED TO: SUBMITTED BY:
Prof. Sriram Rajann Lovely Chauhan
IBS Hyderabad 12BSPHH011233

i. ACKNOWLEGEMENT
I take this opportunity to convey our sincere thanks and gratitude to all those who have
directly or indirectly helped and contributed towards the completion of this project .
First and foremost, i would like to thank Prof.Sriram Rajann for his constant guidance and
support throughout this project. During the project, we realized that the degree of relevance
of the marketing strategies being imparted in the industry is very high. The marketing
strategies study enabled us to get a better understanding of the nitty –gritty of the company.
I would also like to thank my batch mate s for discussion with them. All these have resulted
in the enrichment of our knowledge and their inputs have helped us to incorporated relevant
issues into our project .

TABLE OF CONTENT
 Acknowledgment
1. Introduction of Banking System in India...........................................................................4
2. Introduction of Citibank ....................................................................................................6
 Timelines of Citibank..................................................................................................6
 Brand stories.................................................................................................................8
3. Structure of the corporate manaagement team along with principal marketing
executives and brand managers............................................................................................13
4. Citibank portfolio...............................................................................................................20
5. Citibank Segmentation, targeting &
positioning..............................................................................................................................34
6. Advertising agencies associated with Citibank..............................................................47
7. Application of porters five forces &swot analysis...........................................................49
8. Costing analysis of Citibank.............................................................................................55
9. Brand ambassadors of Citibank and their profiling.......................................................57
10. Citigroup repositioning...................................................................................................62
11. Competitors Analysis.......................................................................................................64
12 Recommendation for the brand to achieve TOM(top of mind )...................................68
13.Bipliography......................................................................................................................69

BANKING SYSTEM IN INDIA
I
INTRODUCTION
The Reserve Bank of India (RBI) Is India’s central bank. Though the banking industry is
currently dominated by public sector banks, numerous private & foreign banks exist. India’s
government-owned banks dominate the market; their performance has been mixed, with a
few being consistently profitable. Several public sector banks are being restructured, & in
some the governments either already has or have plans to offload a chunk of its equity
capital. Banking India has an extensive banking network, in both rural & urban areas. All
large Indian banks are nationalized, & all Indian financial institutions are in public sector.
INDIANBANKINGSYSTEM
The banking system has three tiers. These are the scheduled commercial banks; theregional
rural banks which operate in rural areas not covered by the scheduled banks; andthe
cooperative and special purpose rural banks.
PRIVATEANDFOREIGNBANKS
The RBI has granted operating approval to a few privately owned domestic banks, of these
many commenced banking business. Foreign banks operate more than 150 branches in India.
The entry of foreign banks is based on reciprocity, economic & political bilateral relations.
An inter departmental committee approves applications for entry & expansion.
CAPITALADEQUACYNORMS
Foreign banks were required to achieve an 8% capital adequacy norm by march 1993,while
Indian banks with overseas branches had until march 1995 to meet the target. All other banks
had to do so by march 1996 .The banking sector is to be used as a model opening up of
India’s insurance sector to private domestic and foreign participants , while keeping the
national insurance companies in operation
RESERVE BANK OF INDIA SYSTEM
The reserve bank of India is the Central Banking Institution. It is the sole authority for issuing
bank notes and the supervisory body for banking operations in India. It supervises and
administers exchange control and banking regulations, and administers the government’s
monitory policy. It is also responsible for granting licenses. Several licenses for private banks
have been approved. Despite fairly broad banking coverage nationwide, the financial system
remains inaccessible to the poorest people in India.
SCHEDULED AND NON-SCHEDULED BANKS
There are approx. 80 scheduled commercial banks , Indian and foreign ; almost 200regional
rural banks ; more than 350 central cooperative banks , 20 land development banks , and a no.
of primary agricultural credit societies . In terms of business, the public sector banks
dominate the banking sector.
LOCALFINANCING

All sources of local financing are available to foreign- participation companies incorporated
in India, regardless of the extent of foreign participation. Under foreign exchange regulations,
foreigners and non-residents, including foreign companies, require the permission of the
Reserve Bank of India to borrow from a person or company resident in India.
REGULATIONS ON FOREIGN BANKS
Foreign banks in India are subject to the same regulations as scheduled banks. They
are permitted to accept deposits and provide credit in accordance with the banking laws and
RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign
bank branches in India finance trade through their global networks
RESERVE BANK RESTRICTION
The Reserve Bank of India lays down restrictions on bank lending and other activities with
large companies. These restrictions, popularly known as “consortium guidelines” seem to
have outlived their usefulness, because they hinder the availability of credit to the non-food
sector and at the same time do not foster competition between banks
NDIAN Vs FOREIGN BANKS
Most Indian banks are well behind foreign banks in the area of customer funds transfer and
clearing system. They are hugely over-staffed and are unlikely to be able to competewith the
new private banks that are now entering the market. While these new banks andforeign banks
still face restrictions in their activities. They are well capitalized , usemodern equipment and
attract high caliber employees.
GOVERNMENT AND RESERVE BANK OF INDIA REGULATIONS
All commercial banks face stiff restrictions on the use of both their assets and liabilities.40%
of loans must be directed to “priority sectors” & the high liquidity ratio and cash reserve
requirements severely limit the availability of deposits for lending. The RBI requires that
domestic Indian banks make 40% of their loans at concessional rates to priority sectors
selected by the government. These sectors consist largely of agricultural, exporters, and small
businesses. Since July 1993, foreign banks have been required to make 32% of their loans to
these priority sectors. Within the target of 32% , 2sub targets for loans to the small scale sec
tors (minimum of 10%) and exports (minimum of 12%) have been fixed . Foreign Banks,
however, are not required to open branches in rural areas, or to make loans to the agricultural
sectors. Commercial banks lend $8 billion in the Indian financial year 1997 /98 ,up sharply
from $ 4.4 billion in the previous year .

INTRODUCTION, ORIGIN AND GENSES OF CITIBANK
Citibank was founded in 1812 as the City Bank of New York by a group of New York
merchants; the bank's first head was Samuel Osgood, who had been United States Postmaster
General. Subsequently, ownership and management of the bank was taken over by Moses
Taylor, a protégé of John Jacob Astor and one of the giants of the business world in the 19th
century. During Taylor's ascendancy, the bank functioned largely as a treasury and
finance center for Taylor's own extensive business empire.
In 1863 the bank joined the U.S.'s new national banking system and became The National
City Bank of New York. By 1868, it was considered one of the largest banks in the United
States, and in 1897, it became the first major U.S. bank to establish a foreign department. In
1896, it was the first contributor to the Federal Reserve Bank of New York.
National City became the first U.S. national bank to open an overseas banking office when its
branch in Buenos Aires, Argentina, was opened in 1914. Many of Citi’s present international
offices are older; offices in London, Shanghai, Calcutta and elsewhere were opened in 1901
and 1902 by the International Banking Corporation (IBC), a company chartered to conduct
banking business outside the U.S., at that time an activity forbidden to U.S. national banks. In
1918, IBC became a wholly owned subsidiary and was subsequently merged into the bank.
By 1919 the bank had become the first U.S. bank to have $ 1 billion in assets.
In 1910, National City bought a significant share of Haiti's National Bank (Banque de la
Republique d' Haiti) which functioned as the country's treasury and had a monopoly on note
issue.[3] After the American invasion of Haiti, it bought all of the capital stock of the Banque
de la Republique. The bank became the target of criticism for what were considered to be
monopolistic and unfair banking practices. It initially did not pay the Haitian government
interest on surplus money that it deposited in the treasury, which was loaned out by City
Bank in New York. After 1922, it began paying interest, but only at a rate of 2% compared to
the 3.5% that it paid to similar depositors. Economist and Senator Paul Douglas estimated
that this amounted to $1 million in lost interest at a time when Haiti's government revenues
werelessthan$7million.
Charles E. Mitchell was elected president in 1921 and in 1929 was made chairman, a position
he held until 1933. Under Mitchell the bank expanded rapidly and by 1930 had 100 branches
in 23 countries outside the United States. In 1933 a Senate investigated Mitchell for his part
in tens of millions dollars in losses, excessive pay, and tax avoidance. Senator Carter Glass
said of him, "Mitchell more than any 50 men is responsible for this stock crash."
On 24 December, 1927, its headquarters in Buenos Aires, Argentina, were blown up by the
Italian anarchist Severino Di Giovanni, in the frame of the international campaign supporting
SaccoandVanzetti.

In 1952, James Still man Rockefeller was elected president and then chairman in 1959,
serving until 1967. Still man was a direct descendant of the Rockefeller family through the
William Rockefeller (the brother of John D.) branch; in 1960 his second cousin, David
Rockefeller, became president of Chase Manhattan Bank, National City's long-time New
York rival for dominance in the banking industry in America .
CITIBANK INDIA
Citibank is one of the largest banks in the U.S., and is a part of the financial services
company Citigroup. Citibank had been founded in the year 1812. Initially its name was City
Bank of New York, which was later changed to First National City Bank of New York.
In over 100 countries worldwide, Citibank has been carrying out its operations, which
comprise of regular banking services along with credit card, insurance and investment
services. The bank claims to have a customer base of 15 million users catered by its online
services division alone.
As Citibank was badly affected by the financial crisis of 2008, the U.S. government provided
the bank with an aid of US$ 50 billion in two instalments of US$ 25 billion each.
Presence in India
In India, Citibank is present at 28 locations as of April 13, 2009. These locations include
Jalandhar, Ludhiana, Chandigarh, Noida, Delhi, Gurgaon, Faridabad, Lucknow, Jaipur,
Ahmedabad, Vadodara, Indore, Bhopal, Surat, Nashik, Aurangabad, Akola, Bhubaneshwar,
Kolkata, Vapi, Mumbai, Pune, Hyderabad, Bangalore, Chennai, Pondicherry, Cochin and
Coimbatore.
Products and Services
The bank offers a variety of services and products under the Personal Banking, NRI Banking
and Corporate Banking categories.
The services offered by the bank under Personal Banking are Loans and Credit Cards,
Regular Banking services such as savings account, business banking solutions including
Personal Wealth Management and investment options such as Mutual Funds and Demat
Services. The bank also offers various insurance solutions and hi-tech banking services such
as Online Bill Pay, Pre-paid Mobile Recharge, Internet Banking and CitiAlert account
statements on the mobile phone.
NRI Oriented Services
For its Non-Resident Indian (NRI) customers, Citibank provides a wide range of services
including Rupee Checking Account, Money Remittance, Investment solutions and Home
Loans for the NRIs.
Citibank also pays specialized attention to its corporate customers in India through its
Corporate Banking services, which comprises of an array of customized banking solutions
tailor-made according to the needs of its corporate customers in India. These services include

Cash Management, Trade Services, Loans, Securities and Fund Services, and Investment
Banking services.
Global Commercial Bank Services
Apart from it, Citibank also offers Global Commercial Bank services through its Commercial
Relationship Banking wing and Global Subsidiaries Group. The Commercial Relationship
Banking services are aimed at helping the Small and Medium Enterprises (SMEs) and Mid
Market Enterprises, while the Global Subsidiaries Group provides comprehensive banking
services for the top multinational corporates and their subsidiaries in India.
CITIBANK TIMELINE
 1822: Farmer’s fire insurance and Loan Company –founded.
 1865: National City Bank
 1894: Largest Bank in the U.S
 1901: National City’s branches all over the world
 1902: Expansion of National City Bank
 1904: The Traveler’s Check is introduced
 1910: National City buy a share of haiti’s national bank
 1913: first contributor to the federal reserve bank
 1918: IBC merges to the National City
 1919: the first US bank to have $1billion in assets
 1921: The National City under Charles E.Mitechel
 1922: City bank begins paying interest
 1929: largest commercial bank in the world
 1939: 100 offices in 23 countries
 1952: the bank under James stillman Rockefeller
 1955: first national city bank christened as Citibank
 1960: credit card business
 1965: The first National City bank buys Carte Blanche
 1966: dollar certificates of deposit launched in London
 1968: Citibank’s “the everything card”
 1969: first national city bank joins master charge
 1970: Citibank’s automatic teller machine
 1977: Citibank’s choice card
 1979: Citibank –world’s leading foreign exchange dealer
 1981: Citibank is chartered a South Dakota subsidiary
 1996: Citibank has largest numbers of credit card in Asia
 2001: Citibank settles $45million class action lawsuit
 2002: Citibank’s losses
 2002: Acquisition of California federal bank

 2004: Citibank’s enters the Texas market
 March 31, 2005: first American bank renamed as Citibank Texas
 April 2006: Citibank struck a deal with 7 –Eleven
 November 13 2006: Citibank-corporate sponsor for New York Mets
 April 11, 2007: parent Citi announces staff cut
 September 29, 2008: citigroup buys banking operation of Wachovia
 November 24, 2008: Citigroup receives bailout
 January 2009: plans break itself by separating higher U.S risk consumers finance and
securities business from its global commercial banking operation
 June ,2012: Citibank completes 200 years
BRAND STORIES
Year 2011
 I write this email to bring to your kind notice the wonderful interaction I had with
Manish on Saturday 23rd July 2011. The gist of the matter - I made an e-payment
through my ICICI bank for my previous month's credit card bill for the total amount
before due date. I was shocked to receive a sms few days later that payment was still
due. On calling up ICICI, I was told there was a 'technical issue' and the e-payment
was reversed to my account. After again making payment for the entire amount, I
called up Citi and asked for a call-back. Manish called me within a short time and I
explained the situation to him and requested that the finance charges be reversed. He
listened patiently and when I offered to send him my ICICI statement as proof said it
was not needed and that he was waiving off the charges. During my entire interaction
he was courteous, inspired confidence with his knowledge and turned it into a
pleasant experience with his customer centricity and passion. As someone closely
associated with this industry (was a Manager with American Express for 7 years), I
can safely say that Citi provides the best card services for India, which is why most of
my spend is on Citi and I recommend it to my friends. A lot of the success is the result
of having passionate, committed, service oriented people like Manish. My kudos to
him.
Warm regards,
 On 8th Feb 2011 I was checking with Citibank Suvidha account and realised that my
account should a negative balance because my salary credited to my account was via
bank transfer and not salary credit. I called our Relationship Manager Mr. Musheer
who asked me to get in touch with Mr. Amit Mathur. Amit was very cordial and told
me to inform my payroll manager to get in touch with him. After speaking to the
payroll manager he did what was required to change the bank transfer to salary credit.
I wanted him to activate my ready credit account since I had transferred my entire

salary into Ready credit. He committed to call me the next day (9th Feb 2011) by
5.30pm. I was quite tense because I had issued cheques the previous week. One of the
cheques was my children's school fees. On 9th Feb 2011 Amit called at 11.00 am and
confirmed that my account was activated. I would like to highly appreciate the help of
Mr. Amit Mathur in quickly handling my Ready Credit account. I would rate the
satisfaction level as 5 for this transaction. This is what I would call customer
delight… Thanks Amit…. Keep up the good work!!!!!!
Warm Regards
Ragini Frazer
Project Support Officer
 It is a warm feeling to write and appreciate someone's work and it gives me a great
deal of delight to write to you about how much I am impressed and delighted by the
manner in which Naveen Govind helped me out this morning. A cheque I had issued
recently was returned for an overwrite error (although I do not agree with that
assessment of error). Naveen understood the impact of this return, and called me up
last evening to suggest remedial possibilities. This morning, he saw me through the
steps required to acquire an alternative cheque and all the while, stood by me to
ensure that I did not have the slightest difficulty. It is not often that one encounters
service of this level and I realize that despite not being one of your big customers, I
was being treated to a level of customer service that was beyond the ordinary. It made
me think of Citibank in a very different way and it felt good to be a customer. I want
to thank Naveen again for his help, but more importantly want to put on record my
appreciation of his support and my gratitude for his assistance today.
Best Wishes,
Vijay
Director,
Athena Security India
Pvt. Ltd.,
Year 2010
 It's very rare that I get to write such kind of E-mails for people, who work for my
service providers & when I write it, I do it with a feeling of extreme happiness and
satisfaction towards the services I received. This mail goes to thank & appreciate Mr.
Rajesh Pipada, Service Quality Manager with your bank for his commendable efforts
& constant follow-ups to resolve my issue and he has done this for me not for the first
time but twice now! I wont forget to mention the best of this man - a very polite
nature that he has, while interacting with his customers and always ready to help. He
doesn't have a 'No' in his dictionary for his customers. He is a role model for others in
your bank, please show this letter to all your employees (esp. your call centre staff) &
tell them that a customer will take out time to write something like this only when he
is 'really really' happy & content.

With Thanks,
Mr. Dhananjay Pathak
 I am delighted to know that you have given my money back. I really appreciate your
understanding and your customer service as well. It seems that Citibank does not want
any customer to feel sad. Whenever I sent an E-mail, you people were accepting the
genuine reason and act according to that. Keeping this in my mind I will definitely
open an SB account in future after I close my salary account. Thanks is not enough!
Mr. Raghu Raja
 Thank you very much Mr. Prasad for best attention at all times. I have been using
Citibank Credit Card for nearly about twenty years and I am glad to say that I am
fully satisfied with your services. Although I have Credit Cards from other Banks, but
I prefer to use Citibank Credit only because I feel more safe in using Citibank Credit
Card.
Thanks and Best Regards,
Mr. Sandip Mitra
 The quality of service I received was simply outstanding. I was dealing with your
front desk manager at Hyderabad - Ms. Aiswarya. She not only spent time
understanding my issues but exploiting her keen sense of follow-up, kept in touch
with me till I confirmed resolution. Look forward to a long sustained relationship with
Citi!
Best Regards,
Mr. Terence Rodricks
 I am spending some time to write an E-mail to you stating that my issue got fixed by
Ms. Sindu. U, who helped me a lot regards to the same. She is one of the Perfect
customer care Executive, whom I ever met. Thank you once again. Keep up the good
work.
Mr. Arun Manikam
 As I felt something good about Citibank, I would like to share with you. One fine day,
I called up the Grievance help desk (only once), landed to Ms. Varalakshmi. She
understood the query, apologized for the wrong service, took initiative for the
resolution of the issue and assured resolution. I sincerely appreciate for the concern
and the resolution given by her.
Mr. Krishna Chintakunta
 I want you to know that I'm pleased with the quality of service Citibank provides. I
sincerely appreciate your responsiveness and the way you conduct business. Although
my experience has always been satisfactory, however, I couldn't stop myself from

writing this E-mail to let you know how this "satisfactory experience" turned into a
"fantastic one". It's a pleasure dealing with people who know the meaning of
efficiency and CUSTOMER SERVICE. I'm highly impressed with the excellent
customer services provided by both Ms. Vinita Pharthya & Ms. Namita Saini. I feel
grateful to be one of the Citibank customer & I look forward to doing business with
you for years to come.
Ms. Dimple Verma
 Dear Ms. Parameswary, Thanks very much for supporting me last week during the
forex remittance. The transaction was completed as per my expectations. Special
thanks for taking the trouble to support even during a personal crisis. Appreciate this
gesture.
Mr. Anirudh Prabhakaran
 I just want to take a moment to recognize Ms. Kanchan Sharma in your team. She is
the Relationship Manager for my Account. Over the past 2 quarters, I have been
interacting with her over phone or E-mail regarding numerous queries or requests on
my account and I must say that she is extremely professional, responsive and
committed. I've never had to follow-up more than once with her and she has always
given me the solution or referred me to someone, who resolved my requests on time.
Mr. Ravi Shankar
Year 2009
 I wish to specially thank your officer, Ms. Lakshmi Shantakumar, for all her efforts.
She succeeded in restoring, to a great extent, my esteem for Citibank with regard to
customer service standards. My best wishes to Ms. Lakshmi Shantakumar in her
career and life. I also wish to thank you, your team and Citibank for all services
rendered to me over the years and trust that this positive trend, which you have
started, will continue. Since my issue has been satisfactorily addressed, I have decided
to continue my long relationship with Citibank.
Mr. K Krishna Kumar
 I would like to thank you towards your extended co-operation and allowing us to have
good faith in your organization and understanding the importance of one's hard earned
money.
Mr. Chetan Gandhi
 I would also like to put on record my appreciation for the prompt grievance redressal
system put in place by your office.

Mr. Rajeev Gupta
 This mail is just to let you know that I really appreciate the help and support received
from Shiekh in resolving the account access problem that I faced recently. He assisted
me by suggesting the alternate ways to tackle the situation and stayed with me till the
problem was resolved. I liked his sincerity and would like to add that a good service
like this goes a long way in building customer's preference and choice.
Mr. Binay S. Gautam
 I am writing this e-mail to inform you about the excellent customer care I received
during my phone conversation with Ms. Jayshree Armugam today around 10.45 pm
PST. She was very polite, enthusiastic, kind and thoughtful in her mannerism and
customer care. Her training is very good. I found her very competent. My experience
in talking with her was very pleasant. Ms. Shelly DhirI just want to let you know
about one of your employees Sree Kumar. Kumar was very helpful to me on the call
today. I have been with Citibank NRI for over 10 years. He patiently solved all my
problems. Very rare to have someone so customer focussed like him. The same issues
that I am trying to solve over
e-mail, he solved it for me in one phone call! He is the best!
Mr. Anand
 I just called in Citibank NRI Services with a bunch of requests. I ended up talking to
Gauri. Just wanted to e-mail you and put in a good word for her. She was
exceptionally good. She knew her job, was very polite and did my work in no time. It
was nice interacting with her and I thank her for her good service.
Ms. Meghana
 My heartfelt compliments and kudos for two specific individuals: (i) your customer
service staff, Mr. Rakesh Solanki; and (ii) your floor supervisor, Mr. Naresh. Both of
the said gentlemen not only heard and understood my issues/problems, but took steps
to fix the situation. It was rather refreshing to deal with these gentlemen who took
steps to resolve the difficulty. More specifically, Mr. Solanki was able to do. As a
result of the very helpful action taken by Mr. Solanki, I was most pleasantly surprised
that the required Demand Draft had already reached its destination this morning --
within less than 12 hours of his actions, although it was my expectation that it would
take between 24 to 48 hours for it to show up. Similarly, Mr. Naresh too helped
monitor the situation as to the credit to my rupee account (following transfer of US $
via your ACH facility nearly a week ago).
Mr. Ramesh Bhatia

STRUCTURE OF THE CORPORATE MANAAGEMENT TEAM
ALONG WITH PRINCIPAL MARKETING EXCUTIVES AND BRAND
MANAGERS
CITIBANK EXECUTIVES
Pramit Jhaveri CEO, Citi India
Ravi Kapoor Head of Global Banking, Citi India
Country Business Manager
global Consumer Group,Citi India
Sanjeev Kapur Chief Marketing Officer, Citi India

CITIBANK PEOPLE
Name Surbhi Arora
Business
Operations & Technology
Name Santosh Narayanan
Business
Compliance
Name Satheesh Krishnamurthy
Business Regional Consumer Bank
Rohini Malkani Economist, Citi India

Name Aditya Sharma
Business Institutional Clients Group
Name Sharad Mohan
Name Parag Wagh
Name Badri Nivas
Name Saurabh Gupta

Name Dev Barat
Business Operations & Technology
Name Suchit Parikh
Name Saikat Sarkar
Name Arnab Ghosh

Name Saurabh Suri
Business Operations & Technology
Name Muge Yuzuak
Name Ashish Patel
Business Centers of Excellence
Name Vinaya Parvate

Name Suresh Vaidyanathan
Name Amar Savnal

CITIBANK PORTFOLIO
PERSONAL BANKING:
Citibank India offers you Personal Loans, Credit Cards, Online Banking Services, NRI
Services, Prepaid Cards, Insurance and Investments, and a host of other products and services
guaranteed to meet your needs
Product & services:
 Banking
Banking, financial services and solutions to suit your banking needs
 Credit Cards / Prepaid Cards
First time in India, Credit Card application process goes completely online
 Loans
Loans for all your needs from Citibank
 Insurance
Citibank brings to you comprehensive Insurance options.
 Internet Banking
Citibank India offers you Internet Banking that is fast, easy and secure.
 Mobile Services
Citibank offers you a comprehensive Mobile and SMS Banking solution.
PERSONAL
BANKING
NRI
BANKING
SME
BANKING
CORPORATE
BANKING

 Investments
Citibank provides world class Investment options that will help your wealth grow.
NRI BANKING
Product & services
 NRI Services
The complete range of NRI Banking services available in all major parts of the world.
 Products
With wide range of products, we offer Money Transfer, Online Demand Drafts, Home
Loans and much more
SME BANKING
Citi Commercial Bank
Citi Commercial Bank strives to provide small-to-medium enterprises with a complete
financial solution to maximize your business growth. Citi-Commercial Bank acts as your
partner to help support and grow your business to take it to the next level, delivering cost
effective solutions across borders with a flexibility that is unmatched by our competitors.
With our global reach, Citi has the influence and expertise to help our clients reach new
heights - shaping the industries of tomorrow.
Commercial Bank, a Division of Citibank, N.A., India
Today's Mid-Market Enterprises and Small & Medium Enterprises are the multinationals of
the future. Citi Commercial Bank acts as your partner to help support and grow your business
to take it to the next level, delivering cost effective solutions across borders with a flexibility
that is unmatched by our competitors.
With our global reach, Citibank has the influence and expertise to help our clients reach new
heights - Shaping the industries of tomorrow. In terms of global network and product
sophistication the need of today's MMEs, SMEs and Emerging Local Corporates are totally
different and Citibank is one of the few banks that can comprehensively meet your
requirements.
We devote our personal attention to deliver the best financial solutions for your business.
Backed by Citibank's world-class banking platform, Citi Commercial Bank offers a
comprehensive range of competitive financing options. We constantly strive to deliver
outstanding service through our experienced relationship managers and specialised service

channels - which include our Personalised CitiService enquiry hotline, document collection
and delivery service and our award winning internet banking service - CitiDirect®.
Dedicated to building and maintaining long-term partnerships with entrepreneurs from a wide
range of industries, our ultimate goal is to provide MMEs, SMEs and Emerging Local
Corporates with customized solutions to manage their businesses with ease and confidence.
With over 100 years of operating experience in Asia Pacific, we understand the risks and
opportunities encountered by local corporates. From weathering market turbulence to
increasing penetration in increasingly competitive business environments, Citi gives you the
financial edge to achieve your goals and objectives.
CitiBusiness
CitiBusiness strives to provide micro-to-small enterprises with a complete financial solution
to maximize your business growth. Your success is at the center of what we do. You'll get a
customized premium banking service built around your business, giving growth ideas the
attention they deserve.
CORPORATE BANKING
The Corporate Bank manages relationships with clients, which include leading Indian
companies. Our global industry groups are staffed by specialists dedicated to providing state
of the art solutions across continents and industries. Our industry focus keeps you abreast of
the trends shaping your industry, enabling us to provide you a customised high quality
corporate banking experience
Product & services
 Cash management
1. Account services and management
Account Services
Liquidity management is quintessential for effective working capital management. At
Citi, we understand that liquidity management requires visibility control and
optimization of balances across your accounts.
A wide range of Corporates, Financial Institutions and Small / Medium Enterprises
choose Citi as the preferred partner for meeting their account management
requirements. Corporates can hold the following types of accounts
 Current Account
It is a plain vanilla, non-interest bearing account and the withdrawals to the account
are permissible only up to the amount of deposits in the account.

 EEFC Account
Exchange Earner's Foreign Currency Account (EEFC) is an account maintained in
foreign currency with an Authorized Dealer. This account is for Exporters to hold
their Foreign Currency Inward Remittance in foreign currency.
 Cash Credit Account
Cash Credit account is a form of current account with overdraft facility with fixed
limit. This account is also non-interest bearing account.
 Escrow
As an Escrow Agent, Citibank provides customised solutions by receiving,
safekeeping, investing and disposing of escrowed assets.
 Escrow examples include:
o Escrow Bankers for Reverse Book-build issues for Delisting
o Escrow Bankers for Open Offers
o Share Purchase Agreements or Business Purchase Agreements
o Payment Collection bank for a QIPs and IPOs
o Buy Back of Shares by Tender Offer
o Joint Venture Arrangements
o Asset Divestitures
o Acquisition of an Unlisted Company
o Share issuance to Private Equity or Venture Capital Investors
o Structured Loans repayment
o Funds to cover pending tax liability when resolved
o No-Lien Accounts
2. Payments
Payment Solutions
In today's competitive environment, we understand your challenges of managing cash
flow and productivity in a cost-efficient manner. A key area of focus for streamlining
your business operations is a more efficient accounts payable process.
Citi offers you a complete outsourcing solution for all your domestic and international
payments to help you save time and money while providing a value-added service to
your suppliers. The Indian Banks Association, Euromoney and Global Finance have
judged Citi as the 'Best Bank for Payments' (apart from other coveted recognitions),
so trust us to provide you with the best payment solution.
 Comprehensive outsourcing solution - payments "at the push of a button"
End-to-end integration with your ERP system means that all you have to do is to issue
an electronic payment instruction - we take care of the rest - from printing checks,
mailing them to the beneficiary, informing the beneficiary of payment details,
reconciliation and uploading status reports onto your ERP system. This will eliminate

all manual tasks involved in making payments, allowing you and your staff to focus
on your core business needs.
 One file. One instruction. One approval.
Do away with the hassles of issuing separate instructions for different payment types
such as cheques, drafts, NEFT, RTGS etc. Process multiple payment types whether
domestic or international, in a single file and a single payment preparation and
approval process. We will also warehouse all your recurring payment instructions so
that you do not have to keep a tab on due dates.
 Stayinformed-minimize reconciliation hassles
While we execute all the payment modalities on your behalf, we ensure that you stay
in control through detailed status reports and automated reconciliation reports, and
your payees are informed of the payments. Imagine the benefits - your payees spend
less time tracking invoices, you spend less time answering their queries on payments,
goods are shipped faster to you, and you enjoy better credit relationships.
 Tailor-made solutions to suit your payment requirements
We will customize our payment services to suit the different needs of your business
and your suppliers - regardless of whether you operate only in India and are primarily
focused on domestic payments or you are a multinational with a global span of
payments.
 Superior coverage - large domestic and global footprint
Citi ensures a wide domestic coverage with drafts payable at over 1100 bank
locations, NEFT / RTGS to over 40,000 branches. On the international front, you can
make import and non-import related foreign currency payments in over 137
currencies. For capital market payments, we offer metro warrants at 27 Citi locations
and non-metro warrants at over 250 correspondent bank locations.
3. Collection
Receivables Management Solutions
Citi pioneered Cash Management in India. We are the first to come out with a
structured Collections offering and to offer all modes of collections as part of its
Collections Solutions in India. Citi's Collection Products under the Speed Collect
(SC) Suite form a one-point source for all Cash Management Solutions. The products
are flexible and we offer them in various combinations so as to optimise your
collections across India.
Citi offers you a complete outsourcing solution that uses various collection channels
to reduce your DSO (Days Sales Outstanding) - we collect your receivables quickly,
and at reduced cost, delivering your information through a variety of reports using our
secure online banking platform.

 Expand your distribution network
Our SpeedCollect Solution gives you unlimited coverage for collection of commercial
receivables at over 400 correspondent bank locations and 4200 locations across India.
So no matter where in the world you do business, we can manage your collections.
 Vouch on our ISO 9002 certified robust and scalable collections process
Citi's cash management processing platform is the only unit of its kind in Asia that
has ISO Certification. Rest assured of fewer processing errors leading to greater
reliability and certainty of funds, lower monitoring cost and tracking effort at your
end. This endorses Citi's long-term commitment to provide unsurpassed quality and
service to you.
 Consolidated account - maximize returns / minimize hassles
You can concentrate all your collected funds into a single account, irrespective of
your client locations. The consolidation of deposits means that you don't have to
maintain separate accounts with multiple banks, and you also earn higher interest
rates on your consolidated deposits.
 Online MIS - faster, more accurate and an automated reconciliation
Our team of experienced electronic banking and implementation professionals can
work with your team to automate your cash application process. Electronic Banking
Services combined with unique cash flow-cum-reconciliation statements provide
comprehensive advices and check-by-check reports to give you a simplified and
speedy reconciliation procedure. Efficient reconciliation helps you release your
buyers' credit lines in a timely manner facilitating more transactions and overall
increase in sales.
 Channel Offerings
Our self-service kiosks, e-boxes and mobile payment channels are 24 hours automatic
payment centres where customers can make payments at their convenience. The
benefits quickly translate into accelerated collections on the consumer collections
front.
TRADE SOLUTIONS
1. Trade Services
Our Capabilities
If you are looking to optimise transaction turnaround times and funds flow timing... to
expand into new markets while minimizing risk and maintaining your
competitiveness... to develop a customized solution that matches your unique trade
requirements... look to Citi.

 Enhanced open account terms
 Documentary trade instruments
 Issuing Letters of Credit
 Letters of Credit advising and confirmation
 Issuing Standby Letters of Credit
 Document Preparation
 Document Collations
 Document Warehousing
When you choose Global Transaction Services to provide your trade services, you are
joining over 15,000 corporations and financial institutions, in over 100 countries that
have chosen to partner with a market leader. In selecting Citi, you benefit from:
Wide-ranging, integrated services
Citi encompasses a truly integrated range of Trade services designed to meet your
needs. Our information, risk mitigation, financing and settlement solutions support
your entire value chain-from procurement to processing to post-sales.
Trade expertise
Our Trade Advisory teams have in-depth expertise in the intricacies of markets and
trade products in different geographies and they can provide you with customized
solutions. Among other things, they recognize your need to comply with various local
regulatory requirements and the latest government rules.
Unmatched infrastructure
Advanced imaging and data communication systems link our four regional processing
centres-in Penang (Malaysia), Mumbai (India), Lewisham (UK) and Tampa (USA)-
for an around-the-clock trade operation that processes nearly 2 million trade
transactions annually.
A partnership approach
In Citi, you have a partner who understands the way you manage your business.
Whatever your trade requirements, we have the solutions and services to optimise
transaction turnaround times, accelerate funds flow timing, and structure a solution
that is suited to your specific needs.
State-of-the-art technology

Citi is committed to developing and using state-of-the-art technology and risk
mitigation techniques. We maintain an ongoing investment in advanced global
imaging and transaction processing technologies, such as our Web-based
CitiDirect® Online Banking.
2. TRADE FINANCE
Receivables Financing
Citi offers comprehensive domestic and international trade receivables financing
solutions. These programs help increase liquidity in the supply chain and reduce the
risk inherent in trade flows.
Sponsored Receivables Financing
Citi's Sponsored Receivables Financing Program provides companies with liquidity
by accelerating their cash flow. It also allows them to increase open account sales by
leveraging our risk mitigating structures. These programs have the added benefit of
matching the seller's liquidity to the seasonality in its business and the currency of the
underlying receivables. The facility can be structured on a revolving or one-off basis
Supplier Financing
Supplier financing programs help well-established buyers to have an uninterrupted
supply flow by providing liquidity to their suppliers and mitigating the risk inherent in
open account sales. Through these programs companies can consolidate their payment
processes. This Citi solution has a programmatic approach, which makes it ideally
suited for ongoing commercial relationships. Whatever your needs, our local market
knowledge and expertise mean we can structure a financial solution to meet your
objectives. As a result, you can explore the potential for trade wherever it arises,
secure in the knowledge that we can support your transaction throughout its life cycle.
3. STRUCTURED TRADE
Structured Trade Finance
Are you looking for ways to grow your business and optimise working capital
requirements while mitigating the risk of defaults by buyers? Citi’s Accounts
Receivable Programme helps you unlock the potential in your balance sheet by
purchasing your accounts receivable for immediate cash.
The programme encompasses a wide range of services that include:
 Factoring
 Forfaiting or Avalization
 Insurance
 ECA Guarantee on Buyer’s Credit
 Commodity Trade Finance
All of these can be combined with financing options.

Accelerated cash conversion cycle - deploying cash for further growth
Citi will pay you immediate cash up to 85% of the amount of your eligible invoices
within a day of submission of the invoices and related delivery documents. Imagine
the benefits of improved cash flows! You can negotiate better terms with your
suppliers, respond quicker to market opportunities, and deploy cash faster to tap
further growth prospects.
Liquidity matched to seasonality and currency of the receivables
The more your sales book grows, the more we will help you turn your invoices into
cash. So no matter whether you are treading the peaks or troughs of seasonal demand,
you get immediate access to liquidity in whatever the currency of the receivable.
Risk mitigation - gives you the ability to sell more
You can choose additional services from our offerings to protect yourself from any
bad debt that may arise. On a non-recourse basis, we take on your buyer’s credit risk
so that you only focus on selling more without worrying about buyers’ default risks.
Solutions customised to your individual needs
Citi’s trade finance experts will first study and understand your business landscape
and then offer customised solutions to suit your most complex needs. You are then
equipped with the freedom to explore the potential for trade wherever it arises, secure
in the knowledge that we support your transaction throughout its life cycle.
Collection services - a completely outsourced solution
Save on costs, management time and effort in tracking invoices, following up with
buyers for payments, and reconciliations. Outsource your sales ledger and these
collection hassles to us. We will manage these for you so that you can focus on your
core business needs.
4. EXPORT AND AGENCY FINANCE
Types of products / services offered
Export and Agency Finance (EAF) arranges structured financings, related to trade and
capital projects, supported by Agencies - Export Credit Agencies (ECAs), Multilateral
Agencies, Bilateral Agencies and Developmental Financial Institution
 Tied financings (directly linked to imported capex) from ECAs:
o Direct loans
o Supported by guarantees and insurance cover
o Under co-financing programmes
 Untied financing (not directly linked to imported capex):
o Under risk-sharing programmes with Bilateral Agencies

o Supported by insurance / guarantee under untied programmes of ECAs
o Under the A/B loan programmes of Multilateral and Bilateral Agencies
Pioneering initiatives undertaken
 Support from agencies for local currency financing (loans and bonds)
 NEXI (Japanese ECA) support for private sector financing in India under the untied
programme
 Providing agency supported financing solutions to the middle market / SME sector
 Risk-sharing programmes with agencies for providing untied financing
Key Benefits of dealing with Citi India
 Is a dominant player in agency-supported financing with coverage of more than 80
agencies and has Global Deal of the Year awards from Trade Finance Magazine and
Trade Forfaiting Review.
 Has the ability to provide a comprehensive financing solution by offering other
financing products to compliment agency-supported financing.
 Equipped with an on-the-ground team focusing on providing customised solutions for
arranging agency-supported financing.
Citi credentials, awards and market share
As per Export and Agency Finance - Global league tables, Citi is top ranker* as:
 Mandated arranger for Trade Finance
 Mandated Arranger for ECA Supported Loans
*Cumulative 2003 thru 2007 figures supplied by Dealogic as of December 31, 2007.
Landmark deals & achievements
 Largest ECA supported financing in India. US$ 750 million financing for Reliance
Infocomm Ltd. guaranteed by U. S. Eximbank for
US$ 500 million and direct loan of US$ 250 million from EDC. This deal won the
Global Deal of the Year awards from Trade Finance and from Trade Forfaiting
Review.
 First financing in India under the NEXI untied programme. US$ 65 million NEXI
supported facility for Asahi India Glass Ltd. This deal won the Global Deal of the
Year award from Trade Finance.
 First dual rated agency credit-enhanced local currency bond issuance in India: INR
1400 million bond issue by Ballarpur Industries Ltd. partially guaranteed by FMO.
 Successful closure of US$ 500 million U. S. Eximbank supported financing for
Reliance Petrochemicals Limited, which is the largest tranche of multi-ECA
supported financing.

SECURITIES AND FUND SERVICES
1. CUSTODY SERVICES
Citi is a leading provider of global custody services with over $5 trillion of assets
under custody and over 1,600 customers worldwide. Our services enable clients to
effectively manage the administration of their global investments via a network that
covers over 80 markets and 95% of the world's market capitalization.
CitiDirect® Custody and Clearing delivers the highest standards of technology and
processes, as well as a level of expertise, quality and consistency that is unmatched.
Additionally, the market knowledge and relationships created by such a widespread
local presence enable Citi to develop new industry solutions and help lead the process
of change in the securities marketplace.
 Scalable Trade Settlement with highest levels of Straight-Through Processing (STP)
 Full Investment Support that includes:
o Comprehensive support for subscriptions to Initial Public Offerings (IPO)
o Processing of instructions to exercise warrants
o Support for subscriptions to mutual funds, money market funds, listed open-
end and exchange-traded funds
o Full support for all exchange traded derivatives transactions, providing fully
automated transaction flow, margin, and position monitoring enabling a
seamless movement of margins
o Robust corporate actions functionality, leveraging Citi system enhancements
o Local custodian for American Depositary Receipts (ADR) and Global
Depositary Receipts (GDR)
 Proxy Voting Services leveraging our branch network in India:
o Careful monitoring of announcement sources
o Timely and accurate notification of agenda items
o Facilitation of voting at general meetings
o Confirmation that votes have been submitted
o Providing a summary of meeting results
 Market Information
We can blend traditional global custody services with domestic direct custody access
to markets, to meet your comprehensive and most complex custodial needs, including:
o Safekeeping and settlement:
Our high STP rates ensure that your trades settle with a minimum of manual
intervention.
o Income processing and corporate actions:
We provide information to help you manage your cash assets effectively and
maximize your investment returns.
o Record keeping and reporting:
Our reports give you critical information on your securities and cash positions,
along with transaction status.
o Direct electronic interface:
We have direct interfaces into central depository systems and through

CitiDirect® for Securities, our Web-based platform for custody and clearing
clients.
o Technological sophistication:
We deliver an advanced IT infrastructure, processing technologies and
rigorous operational controls.
Competitive pricing and best Forex deadlines
We can execute Forex transactions in 306 currency pairs with innovative pricing
solutions, using the RBI benchmark rate for pricing deals. We offer you a dedicated
Forex desk with extended coverage time [8:00 AM to 9:30 PM IST] with a capability
to quote cash [same day value deals] even post local cut off time [i.e., 11 AM India
time] by using Citi’s prop book.
2. FUND SERVICES
Citi is a leading provider of fund services solutions in India and worldwide. We offer
the following services for both onshore and offshore mutual funds, insurance
companies and Separately Managed Accounts in India:
 Mid-office Solutions for domestic asset management companies
 Pre-matching and STP system handling
 Processing of trade confirmations
 Fund Accounting
o Net Asset Valuation (NAV) calculations
o Investment accounting
 Fund Administration Services
o Board support
o Financial and regulatory reporting
o Reconciliation
 Tailored Reporting Solutions
Comprehensive outsourcing solution
We manage your fund’s middle and back-office services – from accounting and
administration to order routing to CCO support to performance measurement. This
allows you to focus on your core business of asset accumulation and management.
Tailor-made solutions for all your needs
Citi works with smaller niche players and start-ups, as well as some of the world’s
largest fund managers. Regardless of your organization’s size, you benefit from our
focus on fund servicing while you enjoy a unique combination: large-firm capabilities
coupled with small-firm flexibility, responsiveness and customized solutions.
Unmatched expertise

Your ability to offer top-notch administrative services is crucial to satisfying your
customers and building your franchise. It takes a team of knowledgeable experts who
think like asset managers. It takes the deep institutional resources of a global leader. It
takes Citi.
3. DERIVATIVES CLEARING
Citi is one of the first to offer derivatives clearing services in India and currently has a
market share in excess of 20% of total volumes. Today, we offer a comprehensive
suite of automated clearing and settlement services for exchange-traded equity
derivatives allowing you to settle all your investments in the Indian market through a
single service provider.
Citi has acquired PCM (Professional Clearing Membership) of NSCCL’s derivatives
segment through its 100% subsidiary - Citicorp Clearing Services India Limited
(CCSIL)
Services - Under PCM offering, Citi will perform the following broad activities:
 Accept margin collateral from clients, agree on exposure that can be taken by clients
and place Initial Margin with NSCCL from clients’ Derivatives Margin account
 Accept trade instructions from clients, pre-match clients’ trades executed on NSE
with clients’ trade instruction, carry out margin & position limit checks and confirm
trades to NSCCL
 Perform daily mark-to-market settlement on clients’ futures portfolio
 Exercise in-the-money options as per clients’ instructions
 Liase with client’s local custodian for movement of funds, receipt of underlying
valuations
 Provide daily / periodical customized reports
 Carry out required regulatory reporting to NSCCL, SEBI
Citi’s integrated custody and derivatives clearing services offer various inherent
advantages to you:
 Position limits and margin monitoring
Citi’s highly effective online risk management system accurately monitors your
position limits and margins, minimising the risk of regulatory breaches.
 Optimisation of cash flows
We give you the opportunity to leverage idle cash at short notice by optimising cash
flows between your Custodian and Derivatives Clearing Member.
 Faster settlement
Citi’s empanelment as NSCCL’s Derivatives Clearing Bank benefits clients by further
reducing the time taken to place funds with NSCCL for margins or daily settlements.
 Stay updated on regulatory developments
Our Dedicated Market Editor will make sure that you are abreast on Derivatives-
related market / regulatory developments.
 Enhanced operational efficiency
Our highly efficient straight-through processing environment provides a scalable and
volume-intensive solution for all your securities business. Our experienced

professionals manage all your requirements - from day-to-day transactional items to
special requests - ensuring optimal response times and prompt delivery.
 Customised reports
We provide customised reports on transactions, margin utilisation and position limits
across multiple formats and media.
LOANS
At Citi, you can get all the financial products and services your growing company needs. As
the leading bank for business, we have the right financial solution for each step of your
growth, so when you want to upgrade your facilities or pursue an attractive growth
opportunity, availability of finances will be the least of your concerns.
Citi provides you comprehensive lending facilities encompassing:
 Rupee Loans
 Foreign Currency Loans
 External Commercial Borrowings
Citi led the financing facility in Tata Steel's $8 billion acquisition of Corus. When you
partner with Citi, you can expect best-in-class financing solutions.

SEGMENTATION .STATEGY, TARGETING AND POSITIONING
MARKET SEGMENTATION OF CITIBANK
Citibank had segmented their market wisely. It had used the four major variables for market
segmentation which included demographic, psychological, behavioural and geographical to
segment their market
2.1 Demographic segmentation
Demographic segmentation can be divided into a few demographic values which included
age and life cycle, life stage, gender, income, generation, social class, race and culture. In
Citibank, credit cards are segmented using income and generation values.
2.1.1 Income segmentation
Income segmentation is the concept of dividing the market into various `income groups. For
example, Citibank platinum credit card is specially designed for high income consumers
(RM60,000 per annum) while Citibank Gold credit card and Citibank Clear card are designed
for lower income consumers(RM24,000 per annum).
2.1.1 Generation segmentation
Generation is divided in to four main generational cohorts which are GenY (1979-1994), Gen
X (1964-1978), Baby Boomers (1946-1964) and Silent Generation (1925-1945).Each
generation will be influenced by the times in which they grew up. Marketers therefore market
to a generation by using icons and images that is relatable according to the generation (Kotler
and Keller, 2009)Citibank Clear card is designed to Gen Y. There are promotions like free
entrance from Tuesday to Saturday in Zouk Club Kuala Lumpur, one for one coffee in Coffee
Beans nationwide outlets and Friday one for one movie tickets. For Citibank Gold credit card,
the benefits like rewards points, gold travel (insurance), gold SOS that required you to ask for
help whenever petrol or car batteries rundown, gold healthcare and gold lifestyle that offers
you preferential treatment anddiscounts are more suitable for Gen X consumers.
2.2 Psychological segmentation
Psychological segmentation included a few variables such as lifestyle, value
and personality traits. According to VALS framework, the four groups with high resourcesare
innovators, thinkers, achievers and experiencers while the four groups with low resources are
believers, strivers, makers and survivors. Citibank divided the society on the basis of life-
orientation.

2.2.1 Life-orientation
People who are traditional, passionate in work and self expression are targeted. Citibank
attracted people by providing benefits as people go thru the routine of their work life. With or
without those benefits, people will have to do the same thing too. For example, outstation,
refuel, shop for groceries et cetera. These things have to be done even if without any rebates
or cash bank in credit cards. Those credit cards which are using life-orientation basis included
Shell-Citibank credit card, Giant-Citibank credit card, Citibank Premier Miles card and Air
Asia Citibank credit card.
2.3 Behavioral segmentation
In the behavioral segmentation, marketers divide buyers into groups based on their
knowledge of, attitude towards, use of, or response to a product. The variables used in this
type of segmentation include benefit sought, occasions, user status and usage rate,
buyer readiness, loyalty status and attitude. (Philip Kotler, 2012)In Citibank, it uses thevariab
le of benefit sought and occasion to segment the market for credit card.
2.3.1 Benefit sought
Benefit sought is widely used in the market because it can help to identify he distinct market
with clear market implication. Under this variable, consumers are being divided into
enthusiast, image seekers, savvy shoppers, traditionalist, satisfied sippers and overwhelmed.
The Citibank cash back platinum credit card is specifically designed for the customers who
are falls under the category of savvy shoppers. Users of this type of credit cards can get
rebates on daily retail spend and also can enjoy 20% off on selected purchase in Coffee Bean.
However, the Citibank Premium Miles and Air Asia credit card was designed for customer on
the basis of occasions.
2.3.2 Occasion buyers
Under the variable of occasion buyers are distinguished when theydevelop a need or make a
purchase or use a product. These two types of creditcard are suitable for people who need to
fly frequently for business purpose or traveling because users can redeem free flight
ticket when they fly more.
2.4 Geographic segmentation
Lastly, geographic segmentation divides the market into geographical units such as nations,
states, regions, countries, cities or neighbourhood. Nielsen Claritas has developed a
geoclustering approach called PRIZM clusters which consists of young
digerati, beltway boomers, the cosmopolitans and old milltowns. Groupings in this cluster are
basically based on five broad categories such as education and affluence, family life cycle,
urbanization, race and ethnicity and mobility. (Philip Kotler, 2012) The purpose of this
segmentation strategy is to ensure that the products are tailor to the needs and wants of local
customers. In Malaysia, Citibank are targeting on customers who are well-educated and
having a middle high income. Thus, it is more concentrated on customers from urban area

especially areas like Klang Valley, who fall under the cluster of young digerati, beltway
boomers and the cosmopolitans. There are 6 out of the 11 branches of Citibank are located in
this area. In addition, to strengthen its position in Malaysia, it also set up mobility boots in
various notable shopping centers to attract more potential customers from different areas to
use their credit card.

STRATEGIES FOLLOWED BY CITIBANK

CITI’S DIVERSIFICATION STRATEGY
 Diversify intorelated business under some coherent strategic theme .
Potential benefits of related diversification
 Cross business sharing of expertise ,capabilities, and technology
 Exploit economies of scope and capture synergy benefits from combining similar
operations of different strategies
 Enable collaborations to develop new strength and create new competitive
capabilities .
 Leverage use of company’s brand name
 Increase market power
Drawbacks of related diversification
 Difficulties of integrating the operations with different cultures

Fundamentals of Citi’s Strategy
 Client focus
 Global strength
 Constant innovation

CITIBANK’S TARGETING
A target market is a cluster of people that will mostly need or desire of the products or
services that provided by the company. Target market can be defined in termsof a few values
which included age, sexual orientation, gender, income, religion,traditions or location. In
order to get useful information, market segments must includekey criteria which are
measurable, substantial, accessible, differentiable and actionable.Measurable means that the
size, purchasing power and characteristics of the segmentsmust be measurable so that the
target can be identified. For substantial, the segment hasto be large enough to justify the
resources. Besides, the segment must be accessible sothat messages can be distributed. The
segments must be differentiable in term of theresponse towards certain products. For
example, if male and female response similarlytowards chocolates, there is no separate
segments. Actionable criteria can be achieved byconducting effective programs can be
formulated to attract and serve the segments.Markets can be targeted at four main levels
which included mass segments, multiplesegments, single (niche) segments and individual
segments.As Citibank has a huge back support from Citi group, it tends to use
multiplesegment specialization as a target market strategy in Malaysia to increase its revenue
and profit. Therefore, it comes out with a wide range of credit card which is suitable to beuse
d by all levels of people. The target segments include fresh graduate, workingyoungster and
low income people as well as high income businessman. To ensure theytarget the right
segment of people, Citibank clear card are tied with some of the specificmerchant such as
TGV cinemas and Coffee Bean to attract more Gen Y card users. At thesame time, the
Citibank Premium Miles platinum card are tied with golf club to give it’s card holder
privilege access to golf and also airport lounges to attract businessman.
Citibank targets Emerging Affluent segment across Asia
The country’s largest foreign bank launches a full range of innovative banking
services to attract emerging affluent clients; new value proposition will be rolled
out across Asia

Consumer Business Manager for Citibank Philippines Sergio Zanatti (center)
introduced the bank’s game-changing value proposition in personal banking,
focusing on unparalleled access, global banking, and personalized services. Joining
Zanatti at the media briefing are (right) Daniel Baranowski, Head of the Emerging
Affluent Segment for Citi in Asia Pacific, and Retail Banking Director for Citibank
Philippines Vipin Agrawal.
The largest wealth manager in Asia Pacific is now setting its sights on the growing
emerging affluent segment, offering unparalleled access, global banking, and
personalized services. This new value proposition is part of Citibank’s strategy to
serve the evolving needs of a rapidly growing market of about 500 million
individuals around the region with investible assets from US$10,000 to
US$100,000.
Consumer Business Manager for Citibank Philippines Sergio Zanatti announced to
the media that they are focused on capturing this market in line with their
commitment to serve clients as they grow in affluence and their financial
requirements evolve through their wealth journey. This is the entry level in a
wealth continuum that includes the Citigold brand for the affluent.
“We introduced wealth management in the Philippines in the early 1990s, and we
have been very successful in this front. In 2010, we outpaced the single-digit

industry performance in Asia as we posted a double-digit growth in our customer
base. We are tracking that success this year, but recognize that the Citigold market
is a finite segment. To continue to grow aggressively, we are looking to the
emerging affluent, and leveraging on our leadership in wealth management to grow
our client portfolio,” related Zanatti.
Citibank views the emerging affluent segment as a vital part of its wider growth
strategy in Asia. The new value proposition underlines the bank’s ability to offer
leading services to customers at each stage in their lives, and to provide them with
the best solutions to grow their wealth. In fact, over 50% of Citigold clients in Asia
Pacific were originally Citibank clients.
The emerging affluent market is seen as one of the fastest growing in the financial
services industry in Asia, growing at a rate of 12% to 15% year on year. Moreover,
the revenues from this segment are expected to grow 8-15% per year in most
countries1
.
Citibank recently conducted an extensive survey of 8,000 emerging affluent
individuals across six Asian countries which revealed their profiles, lifestyles and
banking preferences.
“Our research shows that emerging affluent clients want a bank that values their
time, that immediately addresses their needs, and that offers world-class digital
banking services. Additionally, these clients are living increasingly global
lifestyles and want a bank to support them with their international banking,
traveling and investing needs. Our new value proposition seeks to deliver a
distinctly higher level of service along all of these dimensions and asks clients to
re-think the way they bank and aspire to a higher standard” said Daniel
Baranowski, Head of the Emerging Affluent Segment for Citi in Asia Pacific, who
flew in to join the media briefing.
With operations in over 100 countries, Citi’s global franchise is an increasingly
important differentiator as more Asians travel overseas for pleasure, to study and to
work, and are thus demanding a truly global banking partner.
Retail Banking Director for Citibank Philippines Vipin Agrawal disclosed the
features of Citibank’s new value proposition, which will set the benchmark for the
industry as it raises customer experience to a whole new level:
Unparalleled access and responsiveness
Free local cash withdrawals at over 10,000 ATMs across the country

Call Me Back– leave a message at www.citibank.com.ph and Citi will call you
back on your preferred schedule
20 sec pick-up via 24/7 CitiPhone
Access to Citibank Online and Citi Mobile anytime, anywhere in the world
Full suite of global banking services
Free and real-time Citi Global Transfers of as much as US$10,000 daily
Cross-border account opening with pre-arrival assistance
Global View of Accounts to see all your accounts with Citi in one view
Free international cash withdrawals at over 20,000 Citi ATMs across the globe for
travellers
Emergency cash up to $1,000 while travelling abroad
Exclusive rewards and offers with Citi World Privileges
Personalized products and services
Dedicated Personal Banker
Professional financial guidance and access to market updates, analysis, and
investment performance
Goal Planner Tool for personalized financial planning.
“With our new Call Me Back service, Citibank Philippines will be the first market
in Asia to launch this innovative feature, in which we promise our clients that we
will call them back anytime, anywhere,” narrated Agrawal.
The Citibank emerging affluent value proposition has been launched in Singapore,
Hong Kong, China and Taiwan, and it will be launched across Asia over the next
12 months. “We see emerging affluent as a key growth engine for Citibank in the
Philippines and we have a two-pronged channel strategy to address the needs of
this market – through a superior digital banking experience and strategic locations
of Citibank and Citibank Savings branches nationwide,” Zanatti said.
Citibank’s website for consumer clients was recently refreshed, now featuring an
intuitive user interface for easy navigation, simplified menus, as well as advanced
features including personal finance tools that give customers flexibility and control
over their daily household financial management.
Citibank is the leading consumer bank in Asia Pacific with over 31 million retail
and card customer accounts and has pioneered the use of internet and mobile

banking across Asia. In 2010, Citi’s Asia consumer unit was the largest for Citi
globally, generating US$2.1billion in net income or around 20% of Citi's global net
income. Citibank is the largest wealth manager in Asia Pacific with over US$185
billion assets under management.
Citibank first to target Indian students
Bangalore, India -- Citibank, one of the largest multinational banks in India, has launched
CitiStudent, the South Asian subcontinent's first banking program exclusively targeting
students.
The start of a new ``Lifestage Marketing''-themed campaign, the effort seeks to attract
students as customers using technologically advanced banking services; easy terms for
account opening and minimum balance requirements; and ease of use.
The effort aims to retain students as customers once they join the workforce. The bank, part
of New York-based Citicorp, plans to target 50 leading universities and educational institutes
in India by 2000.
"CitiStudent users will have an opportunity to experience Citibanking very early in their lives
while giving us a unique advantage in understanding and meeting the evolving needs of these
customers as they advance in their lifestage, so that Citibank remains their automatic
preferred choice for all their financial needs," said Ashoke Dutt, Citibank India's global
consumer bank head.
The U.S. bank launched the concept at the Indian Institute of Management, Bangalore,
Karnataka. Citibank Cyberzone, an area in the business school's campus, offers student
customers a 24-hour CitiPhone banking hot line; online banking and Internet terminals; an
automatic teller machine; and terminals that can process both debit and credit cards.
Relaxing the stringent norms common for opening new accounts, Citibank will allow
students to maintain a minimum $25 savings balance with their checking account. Other
incentives include waivers on monthly fee charges on accounts, an ATM/debit card and a
Citibank credit card. Citibank leads the local credit-card market with nearly 1 million
cardholders and 50% of volume generated through countrywide transaction.

CITIBANK POSITIONING
Buoyed by robust growth in its commercial banking and mortgage businesses, Citibank India
reported a 41.4 per cent rise in profit after tax for 2012-13 at Rs 2,718 crore.
Citi India, part of US-based global banking giant Citibank, also helped Indian clients raise
USD 18 billion from equity and debt markets and advised on merger and acquisition deals
worth USD 10.4 billion during the year.
Besides, it was a leading arranger of capital for the Indian financial system with close to USD
8.5 billion raised and played a key role in the Indian government’s disinvestment programme,
the bank said while announcing its financial results.
Citibank India’s profit after tax rose by 41.4 per cent to Rs 2,718 crore during the financial
year ended March 31, 2013, while profit before tax rose 39.2 per cent to Rs 4,589 crore.
At the end of last fiscal, Citibank India’s total assets were Rs 1,28,380 crore, with advances
growing by 10 per cent to Rs 52,036 crore and deposits rising by 3 per cent to Rs 66,559
crore.
The bank said that its capital adequacy ratio stood at a healthy rate of 15.90 per cent and the
net NPA ratio was 1.47 per cent.
Bank has delivered high quality earnings despite a challenging environment.
“During the financial year 2012-2013, Citibank have seen sustained expansion in the
commercial banking segment, high off-take of trade loans by global banking customers and

growth in our mortgage business. Their capital position remains robust as it supports a larger
balance sheet.
The bank opened three Smart Banking branches in Noida, Mumbai and Bangalore, while its
cards business maintained a leading position in terms of spending per card with about 18.4
per cent market share.
The bank’s mortgage book grew 16.7 per cen to Rs 9,949 crore in the year, while the overall
Asset Under Management in its wealth management business stood at Rs 16,059 crore at the
end of the last fiscal.
The bank said it also made 135 new hirings, under its Associate Program, from B-schools in
India during the year, while the bank’s Corporate Citizenship program made grants totaling
Rs 12.68 crore during the fiscal.

ADVERTISING AGENCIES ASSOCIATED WITH CITIBANK AND THE
CITIBANK CAMPAIGN
1. CITIBANK TAKES TO ONLINE AND OFFLINE CLOUDS FOR 'DIL VS BILL'
CAMPAIGN
 Media agency: MEC India
 Creative agency: Publicis Ambience
Citibank used an advertising format called skyvertising, in conjunction with social media, to
promote its 'Dil vs Bill' no-extra-cost EMI campaign during the festive season in Delhi and
Mumbai. The campaign was aimed at promoting the bank's EMI offering on credit cards.
Publicis Ambience is the creative agency behind the campaign, while MEC India is the media
agency.
On the initiative, Sanjeev Kapur, chief marketing officer, Citibank India, said, "Citibank
offered EMIs at no extra cost at over 500 merchant outlets, allowing our customers to make
big-ticket purchases during the festive season. We adopted new-age mediums like clouds,
tweets and Facebook to create excitement amongst the upwardly mobile and socially
networked consumers.”
Called 'Tweet a Cloud, Dil Se', the digital-led activation used differently shaped clouds made
of helium which were released into the sky. Clouds of the rupee symbol, shopping bags, the
Citi logo and 'EMI' were released above DLF Promenade, Delhi and at Phoenix Mills,
Mumbai. Mall goers were urged to tweet with the hashtag #dilvsbill, for more clouds.

"The campaign was well received making #dilvsbill amongst the top trending on Twitter for
over 53 hours continuously during the period of the initiative. Also, the 'Dil vs Bill' campaign
post on Citibank India’s Facebook page reached out to more than 4.1 million users," added
Kapur.
A statement from the creative agency pointed out that the campaign idea highlighted the
conflict between the desire to indulge and expenses of the season.
Elaborating on the thought, Sunanda Chadha, vice president, Publicis Ambience, said, "As a
bank and a facilitator of purchase, Citibank is perched at slightly higher level in the food
chain of purchase. We needed to exemplify this, above and beyond the extremely cluttered
festive landscape of hoarse cries of star bursts and discounts. 'Dil vs Bill' is a unique
colloquial property that leveraged the insight of purchase decisions being a constant struggle
between what we want and what we can afford. The campaign urged people to buy what their
hearts wanted, thanks to Easy EMIs from Citi’."
Commenting on the activity, T Gangadhar, managing director, MEC India, added, "We are
very proud of this integrated innovation. Not only did this bring to life to consumers' tweets
outside Twitter, it also served as an interesting way to measure shopping sentiment leading
up to Diwali."
The statement further informed that the campaign was strengthened with chasers, an
innovative media strategy used in print format and radio spots. It pointed out that
advertisements were placed in close proximity to lifestyle product ads giving consumers a
reason to use the EMI offers on Citibank cards. Following this campaign, the statement noted
that EMI sales on Citibank India credit cards for the festive season this year more than
doubled from last year.

APPLICATION OF PORTERS FIVE FORCES &SWOT ANALYSIS
APPLICATION OF PORTERS FIVE FORCES-CITIBANK
-
THREAT OF NEW ENTRANT
 Low/high (exceptions)
 Existing loyalty to majors brands
 Huge investment
 Incentives for using a particular buyer
 High fixed cost
 Scarcity of resources
 High cost of switching companies
 Government restriction or legislation
 There is virtually no chance of a new entrant significantly affecting the major bank’s
market share .the only place new entrant may have a chance in the industry is through
internet banking because of its low costing.
POWER OF SUPPLIERS
 Low to medium
 There are very few suppliers of a particular product categories
 There are almost no substitutes in some product categories
 Switching to another product is very costly
 The supplying industry has high profitability then buying industry

OPPORTUNITIES
 Because of increasing amount of technology internet banking will begin to replace
traditional banking, thus cutting personnel cost.
 Incorporating investment banking into the banking sector ,as some major companies
are doing.
THREATS
 An increase in interest rates causing a decline in bank activity.
 A collapse of the fed leading to bank failures ,a repeat of the crash of 1929.
POWER OF BUYERS
 Medium to high
 Large numbers of buyers
 Purchase large volumes
 Concentration ratio is medium being international
 Information is easily available to the consumers
 Switching to another product is simpler
 The product is not extremely important to buyer, they can do without product for
period of time
 Customers are price sensitive
AVAILABILTY OF SUBSTITUTES
 Low to medium
 Internet’
 If substitutes are similar ,it can be viewed in the same light as a new entrant
 Presence of companies like western union ,PayPal and xe.com
 This is not really an issue with in the banking industry ,because there aren’t really
any legal representative ,except buying a safe and borrowing from a loan shark .
COMPETITIVE RIVALRY
A highly competitive market may result from :
 Many players of about the same size; there is no dominant firm.
 Little differentiation between competitors product and services
 A matured industry with very little growth; companies can only grow by stealing
customers from the competitors
 Technology advanced companies
 Introduction of new products by competitors

The banking industry is continuing to restructure and position itself for our changing
economy as a result many mega mergers have occurred in recent years. Citicorp and
travelers insurance agreed to merge in april 1998 at value of $70 billion .bank mergers are
usually consummated as a cost –cutting measures but also to compete with non bankers
providers of financial services.

SWOT ANALYSIS OF CITIBANK
Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis
According to Hitt, Ireland & Hoskisson (2011), Cititbank was the most global of all U.S.
banks and in 1997 was among the most profitable as well. The changing global environment
and customer needs, however, presented Citibank with unique opportunities and threats. An
analysis of Citibank’s strengths, weaknesses, opportunities, and threats provide the following
STRENGTHS
 Citibank/Citigroup benefits from strong brand recognition in the financial service
industry (Hitt, et al, 2011). As a result, Citigroup enjoys a strong competitive edge over its
competitors. Not only does Citibank have strong brand recognition within the United State,
but their brand name is known globally as well.
 Citigroup provides a larger amount of credit cards than any other bank. Based on
feedback from this customer pool, in 2003 Forbes.com presented Citibank with a
financial sector award, making Citibank’s superior customer service another of its
strengths

 Citibank is also one of the most global of the existing financial service providers As a
result, Citibank has a history of continually investing in its banking technology.This
reputation of superior technological offerings sets Citibank apart from its competitors.
 Citibank’s global presence is vital in continuous profits, and is therefore recognized as
another corporate strength Their expanded portfolio enables Citibank to deliver good
results, regardless of the ongoing changes within the economy and banking industry.
 Citibank’s global presence also provides their customers with a better integration of
products and services. Citigroup is also known for its diversified products and
services (Hitt, et al, 2011). This is essential in capturing new markets, as well as new
consumers. Risk within Citibank is reduced as a result of diversification. Diversity, in
general, helps in positioning Citigroup with consistently delivering superior products
and services.
WEAKNESSES
 The declining economy took a toll on the banking industry.
 Higher credit card costs and the global economic slowdown accounted for declining
capital within Citibank .With credit card costs increasing, and financial losses due to
the economy, Citibank had to take a hard look at ways to improve technologies that
would embrace and enhance performance.
 Citibank also experienced a sharp decline in income levels subject to debt obligations
related to the sub-prime markets .
 These sub-prime markets strongly impacted the bottom line profits of Citibank.
 Investors lost confidence in the financial industry as these high risk loans escalated
out of control. As customer demands increased, Citibank found it difficult to keep
pace with these requests with less revenue at their disposal (Hitt, et al, 2011). Their
lower scale of operations
 Citibank experienced a weak competitive position that was primarily attributed to
Under performance (Hitt, et al, 2011).
 Citibank offered inferior products and services, and lacked the innovation of new
products and services that their customers desired.
 As a result, market shares continued to decline over a four year period.

OPPORTUNITIES
 Citibank’s positive reputation is well known within the global banking industry
Citibank is focused on enhancing and expanding its good reputation. As a result,
Citibank has the opportunity to leverage its reputation to gain new customers, which
will increase profits.
 Expanding global banking is essential in any banking organization. Citibank’s product
portfolio could be enhanced by adding new products and services, as well as
improving and enhancing current offerings. Innovative products and services could
potentially bring new customers to Citibank.
 Customer service is of utmost importance to Citibank (Hitt, et al, 2011). They want
their customers, new and old, to know they can rely on Citibank to focus on each
person’s individual account as they would their own.
 This is the reason Citibank has made increasing customer service of utmost
importance.Citibank is offering a fresh approach to banking.
 New technologies can provideCitibank’s customers with innovative and efficient
accounts receivable, accounts payable, and liquidity management services to be
accessible anywhere, anytime, at the lowest cost. This will be a crucial tool in the
success of Citibank.
THREATS
 As with any industry, competition is always a threat. Citibank’s main competitors
include Bank of America, Chase Bank, as well as new entrants into the banking
industry
 Citibank must be innovative in developing new techniques in which to serve
theircustomers to remain strong and eliminate competition. Retaining current
customers, as well as attracting new ones, will prove crucial to the financial stability
of the organization.
 Even though investing in technology is one of Citibank’s strengths, it also has
thepotential to threaten the profitability of the organization. Developing and providing
new technologies is resource intensive (Hitt, et al, 2011). Whether Citibank simply
enhances itscurrent technology, or purchases new technologies, the budget will be
impacted.
 Regulatory scrutiny is another threat to Citibank’s growth (Hitt, et al, 2011). Banking
regulations change continuously. Staying abreast of these updates and implementing
means to stay in compliance is a resource burden on the industry. Being non-
compliant, however, is an even larger burden.

 Weakening global financial markets also pose a threat to Citibank’s growth . The
declining economy provides an unstable condition that creates stress and fear for all
involved. This includes the banking industry, the customer, and the investors. As long
as the financial markets remain weak, threats to survival will remain.

COSTING ANALYSIS OF CITIBANK
COSTING ANALYSIS OF CITIBANK:
Optimize Your Working Capital and Increase Your Financial Advantage
Citi’s powerful analytics tool provides an in-depth analysis across all spend categories to give
you superior visibility and insight for decision-making.Citi’s analytical tools and advisory
team can help your organization realize potential cost savings and greater efficiency within
your Accounts Payable processes and in new payment and working capital strategies. Using a
suite of analytical tools available only to Citi clients, our team of analysts will review and
analyze your spend data, then recommend payment methods and a strategic approach to
managing your financial supply chain that will increase efficiencies and cost savings. Citi
will also outline ways to streamline your entire procure-to-pay process with modular
solutions such as:
 Commercial card optimization
 Complete Payments and Working Capital Supplier enablement planning
 Buyer Initiated Purchase Card segmentation
 Citi Supplier Finance segmentation
 Electronic Invoice opportunity scoping
CITI TRENDS (WEIGHTED AVERAGE COST OF CAPITAL (WACC) ANALYSIS)
WACC ANALYSIS :

1. The WACC (discount rate) calculation for Citi Trends uses comparable companies to
produce a single WACC (discount rate). An industry average WACC (discount rate) is the
most accurate for Citi Trends over the long term. If there are any short-term differences
between the industry WACC and Citi Trends's WACC (discount rate), then Citi Trends is
more likely to revert to the industry WACC (discount rate) over the long term.
2. The WACC calculation uses the higher of Citi Trends's WACC or the risk free rate,
because no investment can have a cost of capital that is better than risk free. This situation
may occur if the beta is negative and Citi Trends uses a significant proportion of equity
capital.

BRAND AMBASSADORS OF CITIBANK AND THEIR PROFILING
Citibank doesn’t have celebrity brand ambassador .it communicate to the consumers using
common people in their advertisements
Audience Analysis of Citibank India
As you can see in the image below, a good portion of Citibank’s social media fans consists of
men (69.57%), and they belong mostly from 31-40 (37.16%) and 40+ (31.91) age groups.
There are some younger fans of the page as well (see the second image below), but to a large
extent older audience patronizes the page.
I could witness resentment on the social media sphere. People’s dislike for banks like
Citibank can be felt in the negative brand opinion people have about it on social media (see
the images below).

Overall Strategy
The primary function of social media for Citibank India, as it appears from the posts it has
made is to promote its various offerings, services, and activities the bank is engaged in. They
have thrown in occasional contests, trivia, and quizzes, but mostly they are Citibank-centric
(see the image below). The bank has carried its egocentricity from the traditional media to
social media.
Citibank India on Facebook
Face book spearheads the social media efforts of Citibank India. The bank has 522,000 fans
on the social media website, but engagement level is abysmally low for a fan page which has
such a big fan base. And the reason for it could be traced to the lack of any content plan or
comprehensive Facebook strategy. In most of its Facebook posts, the bank talked about its
new product or new features (see the image below), and this sole focus on itself and its
product is pushing the fans away.

There is very little on the page to engage fans, which also reflects in the low level of
engagement with the page. As you can see in the following image, apart from a couple of big
spikes, there is a very few episodes of engagement in the last 30 days. And the immediate
reason behind this could be the choice of content that the bank has posted on the wall. Even
the quizzes it posts talks directly about the bank’s product (see the second image). Can the
primary reason for this low engagement be the overall image of the brand? It is very much
possible, at least this is what the comments on above two posts suggest.

CITIGROUP REPOSITIONING
 CITIGROUP ANNOUNCES REPOSITIONING ACTIONS TO
FURTHER REDUCE EXPENSES AND IMPROVE EFFICIENCY
Citigroup repositioned to reduce expenses and improve efficiency across the company while
maintaining Citi's unique capabilities to serve clients, especially in the emerging markets.
These actions will result in increased business efficiency, streamlined operations and an
optimized consumer footprint across geographies.
These actions are logical next steps in Citi's transformation. While it committed to—and
their strategy continues to leverage-- our unparalleled global network and footprint, they
have identified areas and products where their scale does not provide for meaningful returns.
And they will further increase our operating efficiency by reducing excess capacity and
expenses, whether they center on technology, real estate or simplifying our operations."
Due to this repositioning, Citi expects to record pre-tax charges of approximately $1 billion
in the fourth quarter of 2012 and approximately $100 million of related charges in the first
half of 2013. Citi currently expects that the repositioning will generate $900 million of
expense savings benefitting 2013 results and that the annual expense savings will exceed $1.1
billion annually beginning in 2014. Citi also expects the repositioning actions to have a
negative impact on annual revenues of less than $300 million. These actions will result in a
reduction of more than 11,000 positions.
Citi expects the repositioning activity to affect the following businesses and functions:
Institutional Clients Group (ICG): Approximately 25% of the announced fourth quarter
repositioning charges are expected in Securities & Banking with another 10% in Transaction
Services. The repositioning actions are expected to result in a reduction of approximately
1,900 positions, of which more than half are in the Operations & Technology functions that
support the business. The actions are designed to streamline our client coverage model in
Banking and improve overall productivity in our Markets business, especially in areas
experiencing continued low profitability such as cash equities.
Global Consumer Banking (GCB):
Approximately 35% of the fourth quarter repositioning charges are expected to be incurred
in Global Consumer Banking, resulting in a reduction of approximately 6,200 positions, of
which approximately 40% are in the Operations & Technology functions that support the
business. As a result of the repositioning actions, Citi expects to either sell or significantly
scale back consumer operations in Pakistan, Paraguay, Romania, Turkey and Uruguay.
Consistent with Citi's strategy of focusing on the 150 cities that have the highest growth
potential in consumer banking, Citi will optimize its branch footprint and further concentrate
its presence in major metropolitan areas. The markets affected by the reductions include
Brazil (14 branches), Hong Kong (7), Hungary (4), Korea (15), and the United States (44).

Citi will continue to invest in its franchises in these countries to serve its targeted consumer
segments. After this repositioning, Citi will have more than 4,000 retail branches around the
world and all of the aforementioned countries will continue to be served by our institutional
businesses.
Citi Holdings:
Citi Holdings is expected to eliminate approximately 350 positions and incur approximately
5% of the repositioning charges. Most of the repositioning charges are related to branch
rationalization in Greece and Spain.
Corporate/Other: About 25% of the announced repositioning charges are expected to be
incurred in Corporate/Other.
Operations & Technology:
Citi's Operations & Technology function is expected to achieve greater efficiency through
increasing standardization and the use of automated processes; streamlining the
organizational structure; and consolidating functions and moving certain positions to lower-
cost locations. In addition, there will be a consolidation of certain locations in Citi's real
estate portfolio. In addition to the reductions in Operations & Technology positions that
support the ICG and GCB businesses, these actions will result in the reduction of
approximately 2,300 positions that support corporate services, real estate, and Citi Holdings.
Global Functions:
Roughly 300 Global Functions positions will be eliminated as a result of efficiency savings.
"Citi has come a long way over the past several years. We have been consistently profitable;
our capital strength is among the highest in the industry; and we have shed hundreds of
billions in assets and businesses that are not core to our strategy. We will continue to seek
ways to optimize the execution of our strategy to better serve our clients and deliver results
for all of our stakeholders," concluded Mr. Corbat.
Citi, the leading global bank, has approximately 200 million customer accounts and does
business in more than 160 countries and jurisdictions. Citi provides consumers, corporations,
governments and institutions with a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management.
Certain statements in this document and certain statements by Citi's management made orally
to analysts, investors, representatives of the media and others, including those regarding
various planned repositioning actions, estimated repositioning charges, expected annual
expense savings and the expected benefits to Citi's operating efficiency, among others, are
"forward-looking statements" within the meaning of the rules and regulations of the U.S.
Securities and Exchange Commission. These statements are based on management's current
expectations and are subject to uncertainty and changes in circumstances. Actual results may

differ materially from those expressed in or implied by these statements due to a variety of
factors, including but not limited to the precautionary statements included in this document as
well as Citi's inability to fully complete the repositioning actions and realize the annual
expense savings at all or in the anticipated timeframes referenced. More information about
these and other factors is contained in Citi's filings with the U.S. Securities and Exchange
Commission, including without limitation the "Risk Factors" section of Citi's 2011 Annual
Report on Form 10-K. Precautionary statements included in such filings should be read in
conjunction with this document. Any forward-looking statements made by or on behalf of
Citi 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

COMPETITORS ANALYSIS
Citibank represents the consumer banking operations of financial services
giant Citigroup. The unit has more than 1,000 branches in more than a dozen US states.
California, New York, and Texas are its largest markets, but the bank also has a significant
presence in the Northeast, as well as in Chicago and Miami. It has about 300 international
locations in some 40 countries, with a focus on emerging markets in Asia, Latin America, and
Central and Eastern Europe. Citibank provides standard banking fare such as deposit
accounts, credit cards, and loans to consumers and small businesses, and utilizes its parent's
breadth of financial services to also offer investment and financial planning services
TOP COMPETITORS FOR CITIBANKS:
 JPMorgan Chase & Co.
 HSBC Holdings plc

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