Exhibit 12.02

CITICORP
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
INCLUDING PREFERRED STOCK DIVIDENDS
(In millions of dollars)

|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        | NINE MONTHS ENDED
SEPTEMBER 30,
|--------------------------------------------------------------- | ---------------------------------------------------------------------------------- | ------------------- | ----- | ------ | ------ | ----- | ------ | ------ | ----- | ------ | ------ | -------------------------------
|
|
|
|FIXED CHARGES:                                                  |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                | INTEREST EXPENSE (OTHER THAN                                                       |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                | INTEREST ON DEPOSITS)                                                              |                     | $     | 6,282  |        | $     | 8,316  |        | $     | 8,722  |        | $                              
|                                                                | INTEREST FACTOR IN RENT EXPENSE                                                    |                     |       | 322    |        |       | 303    |        |       | 283    |        |                                
|                                                                | DIVIDENDSPREFERRED STOCK(2)                                                       |                     |       |       |        |       |       |        |       |       |        |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|TOTAL FIXED CHARGES                                             |                                                                                    | $                   | 6,604 |        | $      | 8,619 |        | $      | 9,005 |        | $      | 8,030                          
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|INCOME:                                                         |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                | INCOME BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES |                     | $     | 16,166 |        | $     | 15,221 |        | $     | 12,876 |        | $                              
|                                                                | FIXED CHARGES (EXCLUDING PREFERRED STOCK DIVIDENDS)                                |                     |       | 6,604  |        |       | 8,619  |        |       | 9,005  |        |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                |                                                                                    | TOTAL INCOME        |       | $      | 22,770 |       | $      | 23,840 |       | $      | 21,881 |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|RATIO OF INCOME TO FIXED CHARGES EXCLUDING INTEREST ON DEPOSITS |                                                                                    |                     | 3.45  |        |        | 2.77  |        |        | 2.43  |        |        | 2.31                           
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|INCLUDING INTEREST ON DEPOSITS:                                 |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|FIXED CHARGES:                                                  |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                | INTEREST EXPENSE                                                                   |                     | $     | 15,079 |        | $     | 20,181 |        | $     | 22,045 |        | $                              
|                                                                | INTEREST FACTOR IN RENT EXPENSE                                                    |                     |       | 322    |        |       | 303    |        |       | 283    |        |                                
|                                                                | DIVIDENDSPREFERRED STOCK(2)                                                       |                     |       |       |        |       |       |        |       |       |        |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                |                                                                                    | TOTAL FIXED CHARGES |       | $      | 15,401 |       | $      | 20,484 |       | $      | 22,328 |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|INCOME:                                                         |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                | INCOME BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES |                     | $     | 16,166 |        | $     | 15,221 |        | $     | 12,876 |        | $                              
|                                                                | FIXED CHARGES (EXCLUDING PREFERRED STOCK DIVIDENDS)                                |                     |       | 15,401 |        |       | 20,484 |        |       | 22,328 |        |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|                                                                |                                                                                    | TOTAL INCOME        |       | $      | 31,567 |       | $      | 35,705 |       | $      | 35,204 |                                
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                
|RATIO OF INCOME TO FIXED CHARGES INCLUDING INTEREST ON DEPOSITS |                                                                                    |                     | 2.05  |        |        | 1.74  |        |        | 1.58  |        |        | 1.56                           
|                                                                |                                                                                    |                     |       |        |        |       |        |        |       |        |        |                                

---

---

QuickLinks