Citi

CitiBank

With a strategic focus in the U.S., Mexico and Asia, the Global Consumer Bank’s segment-driven, client-led growth strategy continues to deliver solid results.

In 2018, the Global Consumer Bank strengthened its client-centric model, rapidly accelerated its digital transformation, gained momentum resolving legacy regulatory issues and continued to pace strategic investments in key growth areas.

GCB strengthened its client-centric model with a reorganization that created a regional structure in the U.S., similar to our franchises in Asia and Mexico, and brought together product leadership globally to unify strategy across products, segments and investments. In doing so, we are bringing together the full power of our franchise across Citi-branded products and client segments in the U.S., our largest market and opportunity, and driving greater value for clients and synergies across the franchise.

In digital, GCB’s mobile user base grew rapidly, up 26 percent globally. Industry-leading capabilities, redesigned mobile experiences and market-first partnerships with leading digital and social platforms drove greater engagement, higher client satisfaction and new sources of growth. In the U.S., Citi announced its strategic intent to serve retail clients nationwide. In Mexico, our redesigned mobile app is driving double-digit user growth and the highest app store ratings in our history, while Asia continues to lead on digital partnerships and ecosystems. With a mobile-first strategic focus, we are proud to have been recognized by Global Finance magazine with two global awards: Best Consumer Mobile Bank and World’s Best Digital Bank.

Critically, Citi continued to improve its overall control environment by introducing new digital monitoring and reporting capabilities; simplifying, streamlining and standardizing its processes and procedures; resolving several legacy issues; and driving accountability across the organization.

Across GCB, we continued to execute on investments in key growth areas—U.S. Cards, Mexico and technology. Strategic multi-year investments in new partners and products, network enhancements as well as machine learning capabilities, and new data approaches are starting to bear fruit, driving a superior experience for clients and value for Citi shareholders.

GCB operates 2,410 branches and generated $7.6 billion in pretax earnings. In 2018, the business held $307 billion in average deposits, had $423 billion in average assets and included $306 billion in average loans.