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CITIGROUP

  • Country : United States
  • Name of the Company : CITIGROUP INC.
  • Headquarters : 399 Park Avenue New York, NY 10043 U.S.A.
  • Phone number : +1 - 800 285 3000
  • Fax :
  • Email :
  • Website : http://www.citigroup.com
  • Share Capital :
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Main Shareholders 0
Not available.
Management Team 4
Lastname Biography
Mr. Michael CORBAT , Chief Executive Officer, Citigroup
Mr. James C. COWLES , Chief Executive Officer, Europe, Middle East & Africa
Mrs. Barbara DESOER , CEO, Citibank, N.A.
Mr. Ade AYEYEMI , CEO Sub Sahara Africa – Citigroup

HISTORY

• 1812: City Bank of New York was chartered by New York State on June 16, 1812.

• 1865: The company's name was changed to The National City Bank of New York after it joined the new U.S. national banking system.

• 1895: It became the largest American bank.

• 1902: Opening of offices in United Kingdom (London), China (Shanghai) and India (Calcutta) …by the International Banking Corporation (IBC), a company chartered to conduct banking business outside the U.S., which was forbidden to U.S. national banks.

• 1913: It became the first contributor to the Federal Reserve Bank of New York.

• 1914: Opening of a branch in Argentina (Buenos Aires), when the Federal Reserve Act allowed it.

• 1918: International Banking Corporation (IBC) became a wholly owned subsidiary and was subsequently merged into the bank.

• 1929: It became the largest commercial bank in the world.

• 1955: 

The bank changed its name from The National City Bank of New York to The First National City Bank of New York.

Citi acquired the Bank of Monrovia, whose history could be traced back to 1914.

A Citi branch was established in Egypt in the same year. It was first branch of a U.S. bank in the Middle East. Following the nationalizations of the late 50’s and 60’s, Citibank re-introduced itself in the market in 1975, through its branch in Cairo.

• 1958: Citi first established a presence in South Africa in 1958. Dissatisfaction with the apartheid regime led to Citibank's temporary exit from South Africa in 1987. Citi re-entered the country with a representative office that was converted to a full branch in July 1995. 

• 1962: The name, The First National City Bank of New York, was shortened in 1962 to First National City Bank on the 150th anniversary of the company's foundation.

• 1967: The bank introduced its First National City Charge Service credit card, popularly known as the "Everything card". It later became MasterCard.

• 1967: Opening in Morocco of Citibank Maghreb S.A, as a majority-owned fully licensed banking subsidiary of Citibank N.A. ("Citi").

• 1969: First National City Bank merged its proprietary Everything Card with Master Charge and gave birth to MasterCard

• 1971: Citi's presence in the Democratic Republic of Congo (DRC) was established in 1971, making it the first international bank to open in the country.

• 1974: Opening of the Kenya’branch.

• 1975: 

Following the nationalizations of the late 50’s and 60’s, Citibank re-introduced itself in the Egyptian market in 1975, through its branch in Cairo.

Opening of Côte d’Ivoire’s Branch.

Opening of Senegal’s Branch.

• 1976: First National City Bank (and its holding company First National City Corporation) was renamed as Citibank, N.A. (and Citicorp, respectively).

• 1976: Opening of Gabon’s Branch.

• 1978: Citi opened in Tunisia an offshore bank. It became a full-service bank in 1989, when Citi obtained an onshore licence.

• 1979: Opening of Zambia’s Branch.

• 1984: Opening of Nigeria’s Branch under the name Nigeria International Bank Limited. The branch was renamed to Citibank Nigeria Limited (Citi Nigeria) in 2008 to fully align with Citi's global brand and identity.

• 1995: 

Citi, whose first presence was established in South Africa in 1958, re-entered the country with a representative office that was converted to a full branch in July 1995. 

Opening of Tanzania’s Branch.

• 1997:

Opening of Cameroon’s Branch.

Citi is the first foreign institution to apply for and obtain a commercial banking license in Algeria.

• 1998: On April 6, the merger between Citicorp and Travelers Group was announced to the world.

• 1999: Opening of Uganda’s Branch.

• 2000: Citigroup acquired Associates First Capital Corporation.

• 2001:

Citigroup made an acquisition of European American Bank from Dutch banking company ABN Amro Holding, in July.

It made an acquisition of Banamex, a Mexico’s bank, in August.

• 2002: The company spun off its Travelers Property and Casualty insurance underwriting business.

• 2003: Citi opened has been a Representative Office in Ghana.

• 2008: 

In January, an heavy exposure to troubled mortgages led Citigroup into trouble as the subprime mortgage crisis worsened 2008. 

By November, Citigroup was insolvent. As a result, on November 23, 2008, Citigroup and Federal regulators approved a plan to stabilize the company and forestall a further deterioration in the company's value. The next day, the U.S. government announced a massive stimulus package for Citigroup designed to rescue the company from bankruptcy while giving the government a major say in its operations. Citigroup was nationalized de facto.

• 2009 : On January 16, Citigroup announced its intention to reorganize itself into two operating units: Citicorp for its retail and institutional client business, and Citi Holdings for its brokerage and asset management.

• 2010: Citigroup achieved its first profitable year since 2007. Late in 2010, the government sold its remaining stock holding in the company, 

• 2015: 

In May, the bank announced it would be selling its margin foreign exchange business, including CitiFX Pro and TradeStream, to FXCM and Denmark’s SAXO Bank.

In July, Citi agreed to sell its retail and commercial banking operations in Panama and Costa Rica to Canada's Bank of Nova Scotia (Scotiabank). Citi will continue to offer corporate and institutional banking and wealth management in Panama and Costa Rica.

BUSINESS SEGMENTS

• Credit Cards • Retail Banking • Commercial Banking • Capital Markets Origination • Corporate and Investment Banking • Markets and Securities Services • Private Banking • Treasury and Trade Solutions
Financial Highlights of the last three years
Not available.

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