-----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, V6xWIH3Gef9GfDHY+IJWI7BJJuvM9QsObB9GOoTlHiDgfRDjGYoyc0DjlmyHJYY9 i+Stl1MKmtCgNgpiTi9eRA== 0000839947-05-000079.txt : 20050720 0000839947-05-000079.hdr.sgml : 20050720 20050720124332 ACCESSION NUMBER: 0000839947-05-000079 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050720 ITEM INFORMATION: Other Events FILED AS OF DATE: 20050720 DATE AS OF CHANGE: 20050720 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: 05963362 BUSINESS ADDRESS: STREET 1: 399 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 399 PARK AVENUE 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 june8k.txt CITICORP JUNE 2005 8K UNITED STATES 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 18,2005 --------------------------- Citicorp ------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-5738 86-1515595 --------------- ----------- ------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 399 Park Avenue, New York, New York 10043 ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (212) 559-1000 ------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 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, 2005 and June 30, 2004. Citigroup Inc., the ultimate parent company of Citicorp, filed a Current Report on Form 8-K dated July 18, 2005. 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 -------------------- ------------------ 2005 2004 (1) 2005 2004 -------------------- ------------------ INTEREST REVENUE Loans, including Fees $ 11,479 $ 10,803 $22,756 $21,578 Deposits with Banks 393 144 734 350 Federal Funds Sold and Securities Purchased Under Agreements to Resell 137 84 249 196 Investments, including Dividends 1,768 1,387 3,419 2,600 Trading Account Assets 578 498 1,156 945 Loans Held-For-Sale 141 199 256 278 -------------------- ------------------- 14,496 13,115 28,570 25,947 -------------------- ------------------- INTEREST EXPENSE Deposits 3,391 2,103 6,359 3,978 Trading Account Liabilities 28 23 52 53 Purchased Funds and Other Borrowings 1,016 505 1,853 988 Long-Term Debt 1,253 1,080 2,456 2,001 -------------------- ------------------- 5,688 3,711 10,720 7,020 -------------------- ------------------- NET INTEREST REVENUE 8,808 9,404 17,850 18,927 -------------------- ------------------- POLICYHOLDER BENEFITS AND CLAIMS 119 117 250 253 PROVISION FOR CREDIT LOSSES 1,820 1,590 3,633 3,820 -------------------- ------------------- TOTAL BENEFITS, CLAIMS, AND 1,939 1,707 3,883 4,073 CREDIT LOSSES -------------------- ------------------- NET INTEREST REVENUE AFTER BENEFITS, CLAIMS, AND CREDIT LOSSES 6,869 7,697 13,976 14,854 -------------------- ------------------- FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 3,343 3,467 6,822 6,668 Foreign Exchange 604 546 1,032 942 Trading Account 242 279 861 862 Investment Transactions 320 173 509 285 Other Revenue 2,720 2,645 5,068 4,269 -------------------- ------------------- 7,229 7,110 14,292 13,026 -------------------- ------------------- OPERATING EXPENSE Salaries 3,187 2,898 6,424 5,625 Employee Benefits 770 648 1,537 1,326 -------------------- ------------------- Total Employee-Related Expenses 3,957 3,546 7,961 6,951 Net Premises and Equipment 1,134 1,091 2,247 2,015 Restructuring-Related Items - - - (3) Other Expense 2,768 4,110 5,512 7,021 -------------------- ------------------- 7,859 8,747 15,720 15,984 -------------------- ------------------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 6,239 6,060 12,539 11,896 INCOME TAXES 1,874 1,893 3,876 3,723 MINORITY INTEREST, NET OF INCOME TAXES 261 39 420 112 -------------------- ------------------- NET INCOME $ 4,104 $ 4,128 $8,243 $8,061 ==================== ===================
(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/ John C. Gerspach -------------------- John C. Gerspach Controller Dated: July 18, 2005 -----END PRIVACY-ENHANCED MESSAGE-----