According to the company’s financial results, Citigroup revenues of USD 20.7 billion, excluding CVA/DVA, have jumped by 4 percent as compared to 2011. Excluding both CVA/DVA and the net gain on minority investments, Citigroup revenues have increased by 1 percent as compared to the corresponding period of the previous year. During the period under review, the company registered a negative CVA/DVA of USD 1.3 billion, as compared to a negative USD 256 million in Q1 2011.
Citicorp revenues in Q1 2012 have reached USD 18 billion including a negative USD 1.4 billion of CVA/DVA. Excluding CVA/DVA, Citicorp revenues have amounted to USD 19.4 billion, 6 percent higher than Q1 2011. The increase has showed revenue growth in Citicorp’s three businesses with global consumer banking (GCB) revenues 5 percent higher, securities and banking (excluding CVA/DVA) 6 percent higher and transaction services revenues 7 percent higher as compared to the corresponding period in 2011.
Citi Holdings’ Q1 2012 revenues have witnessed a 47 percent decrease from Q1 2011, reaching USD 874 million. Excluding CVA/DVA, Citi Holdings revenues accounted for USD 786 million, 53 percent lower than Q1 2011. Total Citi Holdings assets have declined by 29 percent, reaching USD 209 billion. At the end of Q1 2012, Citi Holdings assets represented almost 11 percent of total Citigroup assets.
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