Citigroup

If you want a truly reliable partner for your everyday, corporate or investment banking operations, Citigroup is your banking partner, because “Citi never sleeps,” or at least that’s what their slogan is. Today, Citigroup employs 320,000 officials and offers integrated financial services in 140 countries through a network of about 16,000 home based and international offices. Citi Bank has been cited as the largest bank in the world for 2009, in terms of the total number of customers and its global branch network. The structure is also a major dealer in USA Treasury securities, and its shares are traded on the stock exchanges in New York, Tokyo, and Asuncion.

The history of this financial giant starts with the foundation of Citi Bank in 1812. The bank, which had a capital of US $2 million, started operations in September that year, working to the benefit of a community of New York merchants. In 1865, the bank joined America’s home banking system. Thirty years later, Citi became the biggest bank in the USA. In 1914, Citi bank opened an office, situated in Buenos Aires and became the first internationally-represented American bank.

Citigroup, as it is known today, was established in October 1998 through a merger (worth $140 billion) of Citicorp and Travellers Group to establish the largest global provider of financial services. At the end of Q3 2009, Citigroup reported a net income of US $101 million.

Citi has developed their business in two major branches – Citi Corp (catering for the group’s institutional clients’ banking needs and providing transaction services, securities and funds management, market making solutions, underwriting and corporate loans) and Citi Holdings, which is primarily engaged in brokerage and asset management.

To their individual clients, Citi’s financial experts are pleased to offer the full range of retail banking services, including checking and savings accounts, an online banking channel and a call center available 24/7; the full range of credit and debit cards, including credit cards for small businesses, financial need analysis, individual retirement accounts, investment and private banking services, personal, student and auto loans, mortgage loans, and commercial real estate loans.

Citi Group’s investment banking division provides financial advisory and capital raising services to corporations, financial and state institutions, as well as mergers and acquisitions supervision and advisory, restructuring solutions, and equity management.

Citi’s corporate banking business provides cash and foreign exchange management, trade finance and custody clearing and loans to large international corporations. The group’s commercial banking unit caters for the banking needs of small and medium sized enterprises, providing them with a wide range of financial services including working capital management, commercial lending, foreign exchange and currency hedging services, market investments, etc.

Commercial Banks Guide > Citigroup