-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GfuiErcBoN1tsYtWCez3O/T8GNa58KYD3Q+Wbx0p9I9VJ5ModEA2a4ELAeFaUoNy 3gOP31bf+GZBcmjvrBUSvg== 0000839947-03-000113.txt : 20030715 0000839947-03-000113.hdr.sgml : 20030715 20030715144309 ACCESSION NUMBER: 0000839947-03-000113 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030715 ITEM INFORMATION: Other events FILED AS OF DATE: 20030715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITICORP CENTRAL INDEX KEY: 0000020405 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 132614988 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05738 FILM NUMBER: 03787046 BUSINESS ADDRESS: STREET 1: 399 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 425 PARK AVE- 2ND F STREET 2: ATTN: LEGAL AFFAIRS OFFICE CITY: NEW YORK STATE: NY ZIP: 10043 FORMER COMPANY: FORMER CONFORMED NAME: FIRST NATIONAL CITY CORP DATE OF NAME CHANGE: 19740414 FORMER COMPANY: FORMER CONFORMED NAME: CITY BANK OF NEW YORK NATIONAL ASSOCIATI DATE OF NAME CHANGE: 19680903 8-K 1 july8k.txt CITICORP 8K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2003 Citicorp (Exact name of registrant as specified in charter) Delaware 1-5738 06-1515595 - -------------------------------------------------------------------------------- (State or other juris- (Commission (IRS Employer diction of incorporation) File Number) Identification Number) 399 Park Avenue, New York, New York 10043 - --------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 559-1000 ------------------------------------------------------------------ Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. ------------- Results of Operations (Unaudited) This report summarizes the results of operations of Citicorp and its subsidiaries for the three- and six-month periods ended June 30, 2003 and June 30, 2002. Citigroup Inc., the ultimate parent company of Citicorp, filed a Current Report on Form 8-K dated July 14, 2003. That report contains certain additional information about Citicorp's businesses. CONSOLIDATED STATEMENTS OF INCOME CITICORP AND SUBSIDIARIES (Unaudited) (In Millions of Dollars) Second Quarter Six Months ------------------- ------------------- 2003 2002 2003 2002 ------------------- ------------------- INTEREST REVENUE Loans, including Fees $ 9,278 $ 9,480 $18,706 $18,611 Deposits with Banks 293 247 556 522 Federal Funds Sold and Securities Purchased Under Agreements to Resell 73 97 165 205 Investments, including Dividends 1,102 1,344 2,306 2,306 Trading Account Assets 363 391 731 925 Loans Held-For-Sale 180 285 437 577 ------------------- ------------------- 11,289 11,844 22,901 23,146 ------------------- ------------------- INTEREST EXPENSE Deposits 1,685 2,454 3,565 4,305 Trading Account Liabilities 12 15 23 28 Purchased Funds and Other Borrowings 588 641 1,113 1,338 Long-Term Debt 885 994 1,822 1,977 ------------------- ------------------- 3,170 4,104 6,523 7,648 ------------------- ------------------- NET INTEREST REVENUE 8,119 7,740 16,378 15,498 ------------------- ------------------- POLICYHOLDER BENEFITS AND CLAIMS 148 154 296 294 PROVISION FOR CREDIT LOSSES 2,184 2,057 4,236 4,616 ------------------- ------------------- TOTAL BENEFITS, CLAIMS, AND 2,332 2,211 4,532 4,910 CREDIT LOSSES ------------------- ------------------- NET INTEREST REVENUE AFTER BENEFITS, CLAIMS, AND CREDIT LOSSES 5,787 5,529 11,846 10,588 ------------------- ------------------- FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 2,787 2,857 5,490 5,689 Foreign Exchange 930 748 1,837 1,293 Trading Account (296) 472 (313) 910 Investment Transactions 128 (79) 240 (69) Other Revenue 1,932 1,045 3,256 1,883 ------------------- ------------------- 5,481 5,043 10,510 9,706 ------------------- ------------------- OPERATING EXPENSE Salaries 2,658 2,332 5,246 4,638 Employee Benefits 578 461 1,157 945 ------------------- ------------------- Total Employee-Related Expenses 3,236 2,793 6,403 5,583 Net Premises and Equipment 903 796 1,778 1,573 Restructuring-Related Items (1) (40) (13) 6 Other Expense 2,549 2,391 5,015 4,719 ------------------- ------------------- 6,687 5,940 13,183 11,881 ------------------- ------------------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 4,581 4,632 9,173 8,413 INCOME TAXES 1,323 1,567 2,760 2,863 MINORITY INTEREST, NET OF INCOME TAXES 39 27 77 46 ------------------- ------------------- NET INCOME $ 3,219 $3,038 $ 6,336 $ 5,504 =================== =================== SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CITICORP (Registrant) By: /s/ William P. Hannon --------------------- William P. Hannon Controller Dated: July 15, 2003 -----END PRIVACY-ENHANCED MESSAGE-----