Citibank was founded in the year 1812. It is said to be the consumer division of the financial services of multinational Citigroup. The bank was founded as the city bank of New York. But later it became the first national City Bank of New York. The bank is known to have more than 2500 branches with 1494 branches in Mexico which are operated by its subsidiary Banamex. There are multiple US branches as well that focused on different metropolitan areas like Washington D.C. San Francisco, New York City, and Chicago to name some. It also has an Indian headquarter located at Mumbai in Maharashtra state.
Listing and Revenue
Citibank is listed on New York Stock Exchange.
| Revenue | US$74.286 billion |
| Operating Income | US$23.901 billion |
| Net Income | US$19.471 billion |
| Total Assets | US$1.951 trillion |
Products and services:
Citibank's banking product called Citigold focuses on the mass affluent demographic. There is also other products such as Digital Wallet Support that support Samsung pay. Credit Cards, Debit Cards, Loans, Investments, Assurance/Insurance, NRI Banking, Private Banking, Mortgages, Personal loans, and Commercial loans to name some.
History
The bank holds quite a detailed history. It was founded in the year 1812 in New York City. The first president of the City bank was Samuel Osgood. Post his death, William Few became President of the bank.
In the year 1831, the bank became one of first bank heists destination when two thieves robbed tens of thousands of dollars' worth of bank notes and gold doubloons.
In the year 1865, the bank joined the banking solution of the United States under the National Bank act and was then declared as The National City Bank of New York.
By 1868, City bank largest banks in the United States with lot of its branches more specifically in the New York city.
In the year 1970, Citibank was one of those banks who introduce automatic teller machines with service for the customers to access it 24*7.
In August 2004, Citygroup also entered the Texas market to buy the First American Bank of Bryan, Texas. This eventually lead to Citibanks 100 branches, $3.5 billion in assets
In the year 2006, the company declared the naming right sponsorship which for the New York Mets stadium which later was opened in the year 2009.
The year 2009 was declared to be a separation of Citi holding from CitiGrouo.
In India, the Citi India was established un the year 1902 and citigroup is the owner of Citi India.
Acquisition
In the year 2002, Citigroup which was the Parent of Citibank acquired Golden State Bancorp along with the California Federal Bank whose owner was Ronald O. Perelman with $5.8 billion of ownership.
Awards and Recognition
For the 2017-2018 Award, Citibank won top companies for women in tech. It also won top companies for corporate diversity practices. In the year 2018, the bank won Gender CEO Award and best Global Head Corporate and Investment Banking solution. In the same year, it also was recognised to be the leading one in Human Rights Campaign (HRC) with 100% scoring.
Subsidiaries
Global Subsidiaries Group Is One Of Citi's Flagship Business Stream. Citigroup is also the Subsidiary of the Citibank.