Welcome Guest | Join for Free  or  Login
Citibank Logo

Quick Facts

Phone Number:
1-800-950-5114
Bank Website:
citibank.com
Assets Managed:
$1.19 Trillion
Headquarters:
Las Vegas, NV
Date Established:
June 16th, 1812
Equal Housing Lender / Member FDIC
Citibank

Profile Information:

Bank Headquarters: New York City, New York, United States
Stock Symbol: C
CEO: Eugene M. (Gene) McQuade

Citibank is the consumer banking department of the financial service company Citigroup. The bank was founded in 1912 as the City Bank of New York and since then has gone from strength to strength and is now present in over 100 countries across the globe. In 2008, CitiBank was the third largest bank at the end of the year as an individual bank.

In the early history of the bank, in the early 19th century in New York, the bank functioned mostly as a as a treasury and finance center until the bank joined the United States new National Banking System and became the National City Bank of New York. At this time it was already one of the largest banks in the country. The bank had an eye for overseas expansion and was the first US bank to expand overseas with its office in Buenos Aires, Argentina. The company’s expansion into different parts of the continental United States came later with the slow movement into large US markets such as California coming in the 21st century. However in the same decade Citibank came to an agreement with the 7-Eleven company to host Citibank ATMs in the stores around the country increasing user’s access to their money, and the money they would be making on people withdrawing cash for transactions. The bank was one of the first to offer 24 hour access to accounts via ATM machines in the 1970’s which was beneficial for both the company and its users.

In the recent financial crisis in the United States Citibank was one of the hardest hit banks and announced massive losses just days after the news came out that other banks had suffered huge losses. Citibank reported losing $8–11 billion in that time frame relating to the mortgage crisis. They received a total of $25B form the Federal Government in exchange for stock in the company. Citibank ownership is interesting as the main shareholder is now the United States government with 36%. Other major shareholders include the Government of Singapore and three investment companies from the United Arab Emirates, which are far from the banks New York roots.

Since the crisis the bank has changed its outlook and slogans to include such phrases as “We work to provide stability today and more security tomorrow” which are high points of interest for customers in the United States banking industry. As a part of this movement the bank has signed up to the FDIC program in which non-interest savings customers are insured up to $250,000 under the FDIC's general deposit insurance rules. This move gives the customers more security for their financial investments in a time in which security and stability are the number one draw cards to specific banks.

Despite the change of business direction, Citibank still managed a 2009 financial year loss of f $1.6 Billion, this is after cutting costs by over $13 billion annually and reducing the headcount by 100,000 over the year.










EverBank Yield Pledge(SM) Money Market Account

Recent Banking Questions

how to get my banking imformtion how to use online banking i have a money order from this bank and i live in the united states. where can i cash it. I have some cd's that belong to a deceased grandmother. How can I find out if they have been cashed? Is it legal for a bank to take a payment for my mortgage out of my checking account without my permission? The bank then charged insufficient funds charges for each of the four checks that were not covered because of that. They also have software that caused the checks to be returned up to four times automatically. I could not even stop the checks from being redeposited again by the payee. do you have banking located in washington D.C. or bltimore, or philidelphia? any banks in puerto rico offer free checking? Need Acct Info on Acct opened in 1986 at Peoples Bank in Nutley Is there free checking... and how do I open an account what is exactly operational research I'm trying to find a Peoples Bank around Hillsboro Ohio How do you get back your own money, from what's now a share account?! I thought that I had 600.00 in my checking account and i have found out i don't but I have wrote 530.00 in checks. Do i have overdraft protection? free checking account opening