Citi's Global Consumer Bank (GCB) is a global leader in banking and wealth management, the world's largest credit card issuer and a partner of choice globally to the world's most iconic brands and digital leaders. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Our distinctive approach puts the client at the center of everything we do. In this capacity, a team consisting of more than two dozen senior bankers across multiple business units, spearheaded by the Public Sector Group, is providing Gavi with expert advice on structures to mitigate sovereign, credit and operational risk as the COVAX Facility seeks to facilitate pooled procurement and equitable distribution of safe and effective COVID-19 vaccines globally. Recent contributions to the SDGs by CEMEX include the launch of Vertua, its lower-carbon and net-zero CO2 family of products; agreements to clean beaches and waterways, including the Nile River, and use the recovered waste as an alternative fuel in its operations; a new concrete 3D printing construction solution with the potential to reduce housing costs; and the transition of several cement plants to renewable electricity. Weve seen significant progress on net zero commitments, including by Starbucks, Maersk, Cemex, Unilever, Amazon, Apple, Google, and Stripe. In 2020, total client business amounted to around $550 billion. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEXs expectations including, among others, risks, uncertainties, and assumptions discussed in CEMEX's most recent annual report and detailed from time to time in CEMEXs other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, as well as CEMEX not being to comply with the SDGs or reaching the goals under its Future in Action program. In addition to pricing millions of derivative instruments and supporting half a billion data interactions, Citi Velocity made a big push into the audiovisual content and mobile space. The roundtable united leaders from companies that are strongly contributing to the UN Global Compact (UNGC) to discuss how to inspire ambitious and principled business leadership committed to achieving the SDGs. We hosted 1,850 webcasts that were attended by more than 100,000 clients, an increase of 200% year-over-year. In 2020, as part of an effort to help to accelerate the global economic recovery, Citi joined CEMEX, Telefnica and 11 other companies and academic institutions to launch Restarting Together, a challenge that invited startups and small and medium-sized enterprises from across the world to find innovative projects to revamp our economies, enhance our cities and move society forward in response to the COVID-19 pandemic. The business serves 78 million customer accounts for iconic brands, including Best Buy, Exxon, Mobil, L.L.Bean, Macy's, Sears, Shell, The Home Depot and Tractor Supply Company. In equity capital markets, historic volatility drove waves of equity issuance. In addition, the expanded initiative includes a companywide commitment to provide 10,000 young adults with the opportunity to gain work experience at Citi and engage 10,000 Citi colleagues to volunteer their time and talent to serve as mentors, coaches and role models. At Citi, we want to empower them with an account that provides smart - very smart - financial services built from the ground up with financial wellness and mobile functionality at its core. With the industry's most comprehensive suite of digitally enabled platforms, tools and analytics, TTS leads the way in delivering innovative and tailored solutions to clients. Digital Onboarding is now live in 50 countries, and CitiDirect BE users were up 9% versus the prior year. Our Treasury and Trade Solutions business, although negatively affected by lower rates, experienced strong client engagement and digital adoption, including a 9% year-over-year increase in users of our CitiDirect BE banking platform. These efforts will provide greater access to banking and credit in communities of color, increase investment in Black-owned businesses, expand homeownership among Black Americans and advance anti-racist practices in the financial services industry. This figure does not represent the actual number of beneficial owners of common stock because shares are frequently held in "street name" by securities dealers and others for the benefit of individual owners who may vote the shares. These forward-looking statements reflect CEMEX's current expectations and projections about future events based on CEMEX's knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX's current plans based on such facts and circumstances. We transitioned from restructuring the firm to investing in it and significantly improved our returns. Since the onset of COVID-19, the percentage of Retail Bank accounts opened digitally has risen to nearly 60% globally as has the use of mobile check deposits in the U.S. In 2020, Citi retained our ranking as the World's Largest Fixed Income Dealer for the fifth straight year, according to Greenwich Associates' Annual Benchmark Survey, which polled more than 3,500 fixed income investors around the world. Citi has the scale and capability to finance and support the institutions - governments, corporations, nonprofits and aid organizations - that can contribute to the future that we want and the future that our communities deserve. In the U.S., our largest consumer market, we expanded our lending partnership with American Airlines, announced private label and co-brand credit card agreements with two new partners, Meijer and Wayfair, and drove robust digital deposit sales. Citi Public Sector Group worked closely with governments and the public sector to find liquidity alternatives and advised on the issuance of social bonds to support countries in the emerging markets throughout the pandemic. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. First Quarter. You will find everything you need to know to successfully submit an application (plus a few tips from the Admission Office and former students). The science is irrefutable, and the world's climate scientists agree that urgent action must be taken to address the current and potential impacts of climate change. Initiative on Business and Environmental Sustainability. "This new Term Loan represents a continuation in our journey to align the company's financing to our climate strategy while building on our longstanding banking relations," said CEMEX CFO Maher Al-Haffar. Chief Executive Officer, Citigroup Inc. 1 Tangible Book Value (TBV) is a non-GAAP financial measure. Inside cover photo: Courtesy SOM Magda Biernat Photography. If you have any questions regarding investing with CEMEX, this is the place. de C.V., known as Cemex, is a Mexican multinational building materials company headquartered in San Pedro, near Monterrey, Mexico.It manufactures and distributes cement, ready-mix concrete and aggregates in more than 50 countries. Citi, Citi and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world. PDF Version First Quarter. Citi Commercial Bank puts 200 years of experience to work for midsized, globally oriented companies by delivering actionable insights and ideas, comprehensive banking solutions and a truly global network. In addition to the distinction of being overall share leader, Citi ranked #1 in Overall Quality, Sales Quality, Trading Quality and e-Trading market penetration. CEMEX 5k Quarry Quest Report Discrimination or Harassment; Construction Management. A Mission of Enabling Growth and Progress, What You Can Expect From Us and What We Expect From Ourselves. Connecting to Aladdin Provider, Citi will provide outsourced middle-office services directly on a client's instance of Aladdin for seamless integration with the front office, from trade confirmation to post-settlement reconciliation. 100% of the electricity used to manufacture McCoy is Green-e certified renewable energy. UNI POWER TRANSMISSION is an ISO 9001 : 2008 certified company and one of the leading organisation in the field of manufacture and supply of ACSR conductors. 540 Crosspoint Parkway Since 2007, Citi provided more than $1 billion in financial inclusion lending and supported nearly 4 million unbanked and underbanked small businesses in emerging markets, 3.5 million of which are owned by female entrepreneurs. We specialize in the manufacture of ACSR Rabbit, ACSR Weasel, Coyote, Lynx, Drake and other products. Through our participation in the Small Business Administration's Paycheck Protection Program, one of the largest federal lending programs in history, we are proud to have served so many of our small business customers where and when they needed it most. In addition, we introduced a temporary point-redemption option for U.S. cardholders by providing them with the choice to redeem cash rewards and ThankYou Points to pay the minimum due on their credit card. We support 90% of Global Fortune 500 companies in their daily operations, helping them to hire, grow and succeed. Please view this page on the latest version of Internet Explorer or. de C.V Price Target to $8.50 From $8, Maintains Buy Rating, Berenberg Bank Adjusts Price Target on Cemex to $4.70 From $5, Maintains Hold Rating, Cemex S.A.B. [5]Individuals positively impacted from our social initiatives. Vitro | 38,177 followers on LinkedIn. Our vertically integrated portfolio of cement, aggregates, and ready-mix concretetailored to each markets needsprovides us with the opportunity to manage our assets as one integrated business rather than as distinct businesses, further improving our | Founded in 1909 in Monterrey, Mexico, Vitro, S.A.B. Showing how far Citi has come since the financial crisis, in 2020 - the year of a pandemic - we had $3.5 billion more in Net Income, an 11 bps higher Return on Assets and 160 bps higher Return on Tangible Common Equity than we had in 2012. Financial Inclusion and Access to Capital. A world with greener cities? This is an ambitious target that represents a commitment two-and-ahalf times larger than our prior goal, and which we aim to achieve in half the time. With more than a decade of experience and expertise in the field of power transmission, we have been successfully rendering our services to meet the various needs of our customers. The Term Loan was issued under CEMEX's Sustainability-linked Financing Framework (the "Framework"), increasing the amount of debt that is linked to the company's Future in Action strategy and its ultimate vision of a carbon-neutral economy. This transaction removes complexity and strengthens corporate governance by uniting its dual UK PLC and Dutch N.V. legal and listing structure resulting in a single parent company: Unilever PLC, which will have a market capitalization of approximately 110 billion. In each case, these efforts enjoy the full support of our franchise because this is about more than just "doing good." Investing with Purpose is what we call our approach to sustainable and impactful investing. [2]In line with new scoping study carried out in 2021. For the components of the ROTCE calculations, see "Capital Resources - Tangible Common Equity, Book Value per Share, Tangible Book Value per Share and Returns on Equity" in Citi's 2020 Annual Report on Form 10-K included with this letter. A masters degree from Stanford will take you wherever you want to go, but you have to take the first step. An alphabetic list of terms and definitions specific to financial and industry topics. We have made it a priority to foster a culture of inclusion where the best people want to work, where people are promoted on their merits, where we value and demand respect for others, and where opportunities to develop are widely available to all. As part of the program, participants' managers engage in group coaching to help them support their Black direct reports and better understand their experiences. With extensive user experience and account management features powered by Google, the Citi Plex Account is designed to integrate seamlessly within Google Pay to deliver a richness of insights and capabilities to empower consumers with a simple, convenient and personal banking experience. I leave Citi perhaps proudest of the fact that it is again an indisputably strong and stable institution - and an institution our colleagues are proud of which to be a part. "Just over a year ago, we set out on a journey with Google to create an experience that is 100% digital, and different, in banking," said Anand Selva, CEO of the U.S. Consumer Bank and incoming CEO of the Global Consumer Bank. The need for action grew in urgency and scope in 2020 with the onset of the COVID-19 pandemic and a movement toward racial equity and systemic change in the U.S. In Mexico, we worked with PepsiCo Alimentos Mexico and Amigo PAQ to enable mobile access to credit to more than 800,000 shopkeepers through our Citibanamex digital apps. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. Concrete product EPDs verified under NRMCAs EPD Introduction: Environmental Product Declarations An Environmental Product Declaration (EPD) is a communication document that quantifies environmental impact data from manufacturing a product. Citi also gave consumers a sneak preview of the Citi Plex Account by Google Pay, a new digital checking and savings account launching on Google Pay in 2021, and announced Mastercard as our network partner for the account (see the Google Plex section above for more information). Citi's Net Income increased from $7.5 billion to $19.4 billion. For our globally minded clients who include multinational companies, emerging market leaders, governments, investors and ultra-high net worth households, we have been helping them contend with volatile markets, reconfigure supply chains, and access short- and long-term liquidity. As a long-time partner of Global Citizen, we supported its global broadcast and digital special, One World: Together at Home, in support of the World Health Organization and regional charities working to meet immediate COVID-19 needs locally. Cemex said it expects Ebitda of about $2.7 billion for 2022, down from $2.86 billion in 2021. The MarketWatch News Department was not involved in the creation of this content. Our unmatched global footprint and innovative product set allow us to deliver responsible, objective advice and provide stellar execution to lead transformation for our clients. It aligns seamlessly with our U.S. Consumer Bank strategy, giving us a platform to drive significant scale in our Retail Bank by unlocking the power of our respective ecosystems to deepen our existing relationships and serve a larger and new generation of customers. Entering the pandemic on a solid footing from a capital and liquidity perspective gave us the resources we needed to support our colleagues, customers, clients and communities during the sharpest economic downturn since the Great Depression. Governance Our Model Net Value for Society Stakeholder Engagement 1998 Sustainability Development Report. In Wealth Management, we continued to enhance our capabilities and invest in our offerings and digital tools to meet a wider spectrum of customer needs. In Mexico, Citibanamex is one of the leading and historically significant financial Any or all of CEMEXs forward-looking statements may turn out to be inaccurate. In Asia, more than 60% of personal loans were made digitally through its Citi Quick Cash, Citi PayLite and Citi Flexibill solutions. Four years ago, Citi was the first bank to disclose our adjusted pay results, and the following year we became one of the first companies to disclose our unadjusted or "raw" pay gap for both women and U.S. minorities. As of December 31, 2020, Citi had assisted more than 5 million customers and small businesses worldwide with a range of assistance measures, including fee waivers and deferral of credit card minimum payments. Nearly 100,000 Institutional Clients spread over almost 150 countries use Citi Velocity on a regular basis across all asset classes. Before the pandemic's impact on the economy and our businesses took hold, we had made tremendous progress in closing the gap with our peers. In the past year, Citi Commercial Bank enhanced our core client and internal applications and significantly improved our processes, reducing client friction and digitizing more of the client experience. Citi has been a leader in climate assessment and disclosure in alignment with the Task Force on Climate-related Financial Disclosures recommendations and released our second comprehensive report in December 2020 detailing our progress. For any additional information, please contact our Investor Relations team. In November, we were selected to serve as the financial advisor to the international public health organization Gavi in its effort to equitably distribute 2 billion vaccine doses for COVID-19 by the end of 2021. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. As a smaller lender to small businesses due to our light branch footprint, our service model has been built on individual relationships, pairing our clients with dedicated support from a tight-knit team of experts. de C.V. Reports Earnings Results for the Third Quarter and Nine Months En.. CEMEX and Ocean Conservancy Team Up to Clean Cancun Beaches, Cemex B De C : CLOSES NEW 500 MILLION UNSECURED SUSTAINABILITY-LINKED LOAN - Form 6-K, CEMEX, S.A.B. We also participated in a number of other governmentsupported programs outside the U.S. and developed solutions to assist clients in need throughout the crisis. Financial economists study the valuation of these claims, the markets in which they are traded, and their use by individuals, corporations, and the society at large. We create value for our shareholders through a forward-looking growth strategy and disciplined fund allocation. Now, after 38 years at Citi, I leave this institution with Jane Fraser's hands at the helm, confident in the quality and comprehensiveness of the transformation she will be leading so Citi can continue its journey back to being the world's leading bank. 2020 was the Citi Velocity platform's strongest year since its 2011 launch. Clients enjoy a highly customized experience, with access to a comprehensive range of products and services spanning investments, banking, lending, custody, wealth planning, real estate, art, aircraft finance and lending, and more. Citi closed a unique financing for 833 Bryant, a project designed to help confront the growing problem of homelessness. To support our $250 billion goal, we are financing activities in renewable energy, clean technology, water quality and conservation, sustainable transportation, green buildings and energy efficiency and have added circular economy and sustainable agriculture and land use as two additional areas under this goal. From there, the Citi Innovation Lab in Tel Aviv developed Proxymity into a market-ready offering in less than two years using a Lean team model and rapid, agile development. ETHOS Line. The partnership is poised to redefine the way in which collections Our network-driven strategy allows us to service those clients who value our unmatched country presence and who require a financial services partner that can help them grow in any country where they do business. Environment and Sustainability. Customer Delight has always been our top priority and driving force. Consent orders issued in October by the Federal Reserve Board and the Office of the Comptroller of the Currency have created additional urgency and a framework for the firm's transformation. The key inputs considered during our internal discussions and analysis to define these new objectives include: This website uses cookies to deliver you a better experience. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. But for Citi, the story of 2020 actually began many years earlier. In the first two years of the program, 150 Black colleagues have been a part of the program, participating in coaching and discussion on topics such as developing one's personal brand, networking and taking career risks. The financing represents the first international green bond by a renewables portfolio under a project finance structure in Latin America, as well as the first private sector green bond in Central America and the Caribbean. Sincerely, These disclosures hold us accountable for the progress we want to make in being a diverse and inclusive company. Building progress for people and the planet | What world do you want to live in? As of the end of 2020, we achieved our goal of sourcing 100% renewable electricity to power our facilities globally, along with our third set of operational footprint goals. Thanks for your interest in Citi's Annual Report. Citi was left lead underwriter for both Dragoneer SPAC offerings for a combined total of $966 million and sole underwriter for the first ESG-linked SPAC in May. The GCB's model is distinct: digital-first capabilities complemented by a light physical footprint in leading urban markets. We ask our colleagues to ensure that their decisions pass three tests: they are in our clients' interests, create economic value, and are always systemically responsible. We work with companies to optimize their daily operations, whether they need working capital, to make payroll or export their goods overseas. We streamlined our consumer business and embraced the shift to digital. In 2020, the Global Consumer Bank continued to execute a digital-first, client-led growth strategy while pivoting swiftly to provide value, service and support to clients and communities impacted by the COVID-19 pandemic. Our global volumes have seen a growth of more than 70% year-over-year and are rapidly approaching the million daily transaction mark. Initiative on Business and Environmental Sustainability. Joining the Aladdin Provider network will allow Citi to optimize our operating model to support not only BlackRock's asset management business but to provide an enhanced level of service to members of the broader Aladdin community. Daily Operations Report view today's report. We have 200 years of experience helping our clients meet the world's toughest challenges and embrace its greatest opportunities. We also launched the Direct Private Investments business to identify opportunities for family offices and private investment company clients to actively invest in direct private deals. The platform saw mobile growth soar 57%, while the number of unique client users grew 9%. E-mail address: shareholder@computershare.com In the U.S., for example, we introduced relevant points offers on the Citi Prestige Card and expanded the $250 travel credit to include supermarket and restaurant purchases through 2021. CEMEX, S.A.B. For more than two decades, Citi has led the industry's drive toward sustainability. and payments are made in Mexico for small and medium-sized companies, which represent about 50% of Mexico's gross domestic product. institutions in the country, with top brand recognition, leading market share and an extensive retail branch network complemented by rapid digital and mobile user growth. We continued to serve clients safely in branches, introducing new safety measures and cleaning protocols, as well as innovative ways to serve clients remotely, such as video banking in Asia and the U.S. As COVID-19 made mobile capabilities, high-touch digital services and the human touch critical, Citi introduced new and enhanced digital and mobile capabilities and evolved product benefits across our credit card portfolios to ensure value, utility and relevance to customers.
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