-----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, RDNZ8r99a/GabDjidm5lel1zo18K8JqqTcI6SEbSOLBn8kZ19qSSkigvDRmfSvyj RLf1gkQLTHxdOJaR7rV1Wg== 0000839947-04-000075.txt : 20040715 0000839947-04-000075.hdr.sgml : 20040715 20040715155130 ACCESSION NUMBER: 0000839947-04-000075 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040715 ITEM INFORMATION: Other events FILED AS OF DATE: 20040715 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: 04915851 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 JUNE 2004 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, 2004 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, 2004 and June 30, 2003. Citigroup Inc., the ultimate parent company of Citicorp, filed a Current Report on Form 8-K dated July 15, 2004. 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 ------------------- ------------------- 2004 2003 (1) 2004 2003 (1) ------------------- ------------------- INTEREST REVENUE Loans, including Fees $ 10,803 $ 9,278 $21,578 $18,706 Deposits with Banks 144 293 350 556 Federal Funds Sold and Securities Purchased Under Agreements to Resell 84 73 196 165 Investments, including Dividends 1,387 1,102 2,600 2,306 Trading Account Assets 498 363 945 731 Loans Held-For-Sale 199 180 278 437 ------------------- ------------------- 13,115 11,289 25,947 22,901 ------------------- ------------------- INTEREST EXPENSE Deposits 2,103 1,852 3,978 3,785 Trading Account Liabilities 23 12 53 23 Purchased Funds and Other Borrowings 505 421 988 893 Long-Term Debt 1,080 885 2,001 1,822 ------------------- ------------------- 3,711 3,170 7,020 6,523 ------------------- ------------------- NET INTEREST REVENUE 9,404 8,119 18,927 16,378 ------------------- ------------------- POLICYHOLDER BENEFITS AND CLAIMS 117 148 253 296 PROVISION FOR CREDIT LOSSES 1,590 2,184 3,820 4,236 ------------------- ------------------- TOTAL BENEFITS, CLAIMS, AND 1,707 2,332 4,073 4,532 CREDIT LOSSES ------------------- ------------------- NET INTEREST REVENUE AFTER BENEFITS, CLAIMS, AND CREDIT LOSSES 7,697 5,787 14,854 11,846 ------------------- ------------------- FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 3,467 2,787 6,668 5,490 Foreign Exchange 438 930 930 1,837 Trading Account 387 (296) 874 (313) Investment Transactions 173 128 285 240 Other Revenue 2,645 1,932 4,269 3,256 ------------------- ------------------- 7,110 5,481 13,026 10,510 ------------------- ------------------- OPERATING EXPENSE Salaries 2,898 2,658 5,625 5,247 Employee Benefits 648 578 1,326 1,157 ------------------- ------------------- Total Employee-Related Expenses 3,546 3,236 6,951 6,404 Net Premises and Equipment 1,091 903 2,015 1,777 Restructuring-Related Items - (1) (3) (13) Other Expense 4,110 2,549 7,021 5,015 ------------------- ------------------- 8,747 6,687 15,984 13,183 ------------------- ------------------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 6,060 4,581 11,896 9,173 INCOME TAXES 1,893 1,323 3,723 2,760 MINORITY INTEREST, NET OF INCOME TAXES 39 39 112 77 ------------------- ------------------- NET INCOME $ 4,128 $3,219 $ 8,061 $ 6,336 =================== =================== (1) Reclassified to conform to current period's presentation.
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, 2004 -----END PRIVACY-ENHANCED MESSAGE-----