Annual Report

ZAO Citibank Annual Report 2013

(PDF, 6 Mb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards for the year ended 31 December 2013.

ZAO Citibank Annual Report 2012

(PDF, 7,6 Mb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2012.

ZAO Citibank Annual Report 2011

(PDF, 4,6 Mb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2011.

ZAO Citibank Annual Report 2010

(PDF, 2,65 Mb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2010.

ZAO Citibank Annual Report 2009

(PDF, 234 Kb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2009.

ZAO Citibank Annual Report 2008

(PDF, 213 Kb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2008.

ZAO Citibank Annual Report 2007

(PDF, 3,61 Mb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2007.

ZAO Citibank Annual Report 2006

(PDF, 206 Kb)

Financial Report of ZAO Citibank in accordance with International Financial Reporting Standards and Russian Accounting Principals for the year ended 31 December 2006.

ZAO Citibank Annual Report 2005

(PDF, 2.52 Mb)

Dear Clients and Colleagues,

2005 was a stellar year for Citigroup in Russia. We continued to invest in our businesses, we began relationships with a record number of new customers, and we introduced many new products to serve our customers.

Citigroup recruited a record number of new employees in 2005, many of whom are beginning their working career with us. We are investing considerable resources in training and developing our employees to both serve our customers and pursue an exciting career at Citigroup.

Our accomplishments in 2005 are numerous, and to mention a few:

  • Expanding our distribution network by opening 15 branches and 39 ATM's.
  • Launching consumer operations in Samara and Ekaterinberg .
  • A new Co-Brand partnership with Megafon, a valued EMCB corporate client.
  • Leading the market with the introduction of «grace days» on credit cards.
  • Launching Equities Trading and Research.
  • Integrating the Custody business acquired from another bank.
  • Executing two of the largest and most significant corporate finance transactions in Russia: As Mandated Lead Arranger of the $13.1 billion Gazprom loan for the acquisition of Sibneft and Sole Lead Arranger for the $2 billion acquisition loan for Lukoil's acquisition of Nelson Resources (Kazakhstan).
  • Executing several export credit agency (ECA) ground breaking transactions, including China Development Bank's first direct loan to a Russian company.

Citigroup continued its strong support in the community in 2005. The Citigroup Foundation awarded grants of over $400,000, particularly to support financial education for the younger generation.

Another key initiative for Citigroup is to support the development of Microfinance and we were proud to assist in the launch of the first Russia Global Micro-entrepreneurship Awards Competition, held under the auspices of the Ministry of Economic Development and Trade during the Year of Microcredit.

The financial figures for Citibank ZAO reflect continued profitable growth and the increased capital committed to serve our customers in Russia.

We thank our customers for placing their trust in us to serve their financial needs. We look forward to working with all sectors of the economy in the years ahead to help achieve every customer's financial objectives.

We also thank the over 2,000 Citigroup employees. They are working hard every day to serve our customers, deliver innovative products and by doing so, guarantee the future growth of our business. We look forward to continuing to excel and invest in 2006.

Ňrainings

Investing in our people is critical to our long-term success. In 2005, Citigroup Russia provided over 21 000 days of formal classroom training to our employees. The programs offered included required training in important areas such as Sales, Product, and Managerial courses, as well as Compliance and Customer Loyalty training. We also provided optional courses for our employees in such areas as Product Know-how updates, Quality & Service or Presentation skills, to support their professional growth. Our training resources include a new training facility and a dedicated team of 12 training specialists. Our employees also participated in numerous Citigroup global training and development programs outside of Russia as both instructors and students.

Mark Robinson

President of ZAO Citibank,

Division Regional Head Russia and CIS

Consolidated Financial Statements

(PDF, 358 Kb)

Consolidated Financial Statements

Contents

Consolidated Financial Statements in accordance with International Financial Reporting Standards for the year ended 31 December 2004

  • Independent Auditors' Report to the Management of ZAO Citibank
  • Consolidated Income Statement
  • Consolidated Balance Sheet
  • Consolidated Statement of Cash Flows
  • Consolidated Statement of Changes in Shareholders' Equity
  • Notes to the Consolidated Financial Statements

ZAO Citibank Annual Report 2003

(PDF, 1.33 Mb)

On 14 January 1994, Bill Rhodes, Vice-Chairman of Citicorp, inaugurated Citibank Russia. Now, 10 years later, ZAO Citibank Russia has a lot to be proud of.

Today, with the capital base of USD 290 mn, total assets of USD 2 bn and revenue of USD 150 mn, Citibank is the largest foreign bank in Russia, holding the 10th and the 14th ranking positions among the banks in this country by capital and assets correspondingly. The bank has been consistently building a very strong and profitable franchise in Russia, and, being among the top 5 Russian banks for profitability, it has so far earned USD 267 mn of unremitted profits.

Now Citibank Russia employs more than 600 people and has 2 corporate branches in Moscow and St.-Petersburg; 5 retail branches and 1 consumer bank operations center.

Citigroup has a solid corporate business dealing with the most prominent local and international corporations operating in Russia, and is very proud and honored to have such an excellent customer base. The bank succeeded due to its global knowledge and expertise, product and service excellence of all the teams and dedication of each and every one of employees.

Citibank has a sound and fastly developing consumer banking business that is winning more and more recognition in the local market and further strengthens its market competitiveness and leadership positions in Russia.

Being part of the world's largest, most powerful and most profitable financial institution, Citigroup, ZAO Citibank Russia continues to build up our business and success into the future.

Allan Hirst

ZAO Citibank Annual Report 2002

(PDF, 2.02 Mb)

In 2002 ZAO Citibank continued to be widely regarded as one of the top local financial institutions with capital base of USD 238 million and total assets of USD 1,904 million.

By the end of 2002 the share of Russian companies in the corporate credit portfolio of the bank reached 60%.

Citibank was rated number one Arranger of all Russian syndicated Trade Finance loans in 2002 (Euromoney, Trade Finance, Feb. 2003) and won three prestigious Deals of the Year Awards (from Euromoney's Trade Finance Magazine) for arranging the largest Oil and Gas Syndicated loan in Russia post-crisis (Sibneft, $150 million), the largest syndicated FI loan in Russian history (Vneshtorgbank, $240 million), and a precendent setting export credit agency supported transaction for Alrosa, $11 million.

New treasury products included yield and dual currency deposits, long-term FX forward contracts in major currencies, currency swaps and other derivative products and also medium-term Rouble loans. Citibank is also active in the Rouble Corporate Bond market.

ZAO Citibank is one of the most active players in the interbank FX/MM markets and on MICEX.

Citibank continues to provide custody services for main products and it won Global Custodian's Top Rated ranking on the Russian market.

Citibank launched CitiLeasing to futher expand the range of products offered to customers.

90% of our customers began accessing their accounts and transacting using CitiDirect, Citibank's global Internet delivery platform, providing access to core cash management and trade services capabilities of the bank.

On 20th November 2002 ZAO Citibank opened the first of its retail branches to offer consumer banking products and services to the Russian market. The opening of this retail branch was also coupled with a full phone and internet banking service for retail clients.

ZAO Citibank Annual Report 2001

(PDF, 1.93 Mb)

In 2001 the bank became one of Russia's top banks in terms of corporate customer deposit portfolio (USD 456 million) with capital of USD 173 million and total assets of USD 1.3 billion. ZAO Citibank now ranks 9th largest in capital, up from 13th place in 2000.

By the end of 2001 the share of Russian companies in the corporate credit portfolio of the bank reached 50%.

New treasury products in 2001 included premium deposits, long term FX forwards, 5-year RUB loan. Citibank is also active in the Ruble Corporate Bond market.

ZAO Citibank is one of the most active players in the interbank FX/MM markets and on MICEX.

As one of the biggest custody services provider worldwide and the largest foreign bank in Russia, the bank continues to provide custody services for main products.

The bank successfully continues issuing VISA Electron payroll cards - the program which was launched in 1999.

In line with our tradition of innovation Citibank launched "CitiDirect Online Banking" - our global Internet delivery platform, providing access to our core cash management and trade services capabilities. In 2001, 80% of our customers began accessing their accounts for inquiry using "CitiDirect" via the Internet.

Citibank T/O Annual Report 2000

(PDF, 2.28 Mb)

In 2000 the bank's customers kept on representing the widest scope of industries including oil & gas companies, utilities, telecommunications, dairies and confectionery factories, refreshments manufacturers and breweries, chemical producers and paper plants, banks, insurance and non-profit organizations, airlines, service and trading companies. In 2000 Moscow and St. Petersburg branches represented the worldŐs and Russia's leading corporations and operated in most of the regions of the country.

In Russia Citibank T/O takes advantage of its global relationship network involving the vast majority of the world's top corporations. At the same time, we emphasize working with top domestic borrowers many of which became our clients in the last several years. By the end of 2000 the share of Russian companies in the corporate credit portfolio of the bank reached 45% - and our plan this year includes growing both the multinational and the domestic portions of our risk portfolio.