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Latin America: Brazil

Citi, the leading global financial-services company, has approximately 200 million customer accounts, does business in more than 160 countries and jurisdictions, and is one of the best capitalized banks in the world. All of Citi's resources are aligned to meet customer needs through its universal bank model – a global bank for consumers, corporations, governments and institutions. Citi is squarely positioned to leverage its unique global breadth of best-in-class financial services, while preserving its ability to serve local markets in the fastest-growing areas of the world.

In Latin America, Citi has gained a prominent position in the financial-services industry since 1904, when it started operations in Panama, through the International Banking Corporation. In 1914, Citi opened its first international branch in Buenos Aires, Argentina, also marking the first foreign-established branch of any nationally chartered U.S. Bank and, shortly after, opened another in Rio de Janeiro, Brazil. In 2001, Citi's Latin-American franchise grew with the integration of Banamex, Mexico's leading financial institution since 1884.

In fact, Citi has the broadest presence of any financial institution in the region, with operations in 24 countries throughout Latin America. Citi's geographic coverage spans across: Argentina, Bahamas, Barbados, Brazil, Cayman Islands, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Trinidad and Tobago, Uruguay and Venezuela.

Citi currently operates nearly 2,600 retail bank branches and point of sales – including joint ventures – in Latin America, serving more than 26 million retail customers accounts. Citi also maintains a leading position in corporate banking and a growing consumer-banking presence with strong client recognition and brand loyalty. Our renowned GTS business in Latin America and Mexico, with $34 billion in deposits and $638 billion in assets under custody, supports 25 different currencies for payments in the countries we serve.

With more than $93 billion in regional client assets, Citi Wealth Management is one of the largest providers of financial and investments solutions in Latin America, with services offered through Citi Private Bank, Banamex Banca Patrimonial, Citigold Private Client and Citigold International, among other business lines.

Since 2004, Citi Latin America has implemented a strategy based on growth in its key markets, furthering its presence in the region through a mix of direct investments in its network, strategic partnerships and acquisitions.

From 2004-10, the Latin-American franchise added nearly 900 new branches, including joint ventures, and more than eight million new customers. We have posted consistent growth in loans, deposits and assets under management. Annualized net income through 2010 has more than tripled from 2002, the first year after Banamex's integration.

Citi's main business lines are Consumer Banking, Credit Cards, Wealth Management, Global Transaction Services and Capital Markets and Banking, commanding leadership in capital market operations, including syndicated loans, international debt issues, local debt, and announced mergers and acquisitions.

Citi Latin America, including Mexico's Banamex, has made total social investments between 2008 and 2010 of more than US $32.5 million, mostly in the fields of microfinance and micro-entrepreneurship, as well as financial education, to encourage the economic empowerment of more than 625,000 beneficiaries. Additionally, investments for US $9 million have been targeted to the conservation of Latin American cultural patrimony, social development and ecology.

Citi Latin America is committed to serving its clients with excellence and unparalleled expertise, and to contributing toward the development of the countries in which it operates.