 | This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (November 2007) |
Citibank N.A. |
| Type | Subsidiary (of Citigroup) |
|---|
| Founded | 1807 |
|---|
| Headquarters |  New York City, New York |
|---|
| Key people | Vikram Pandit — CEO;
Gary Crittenden — CFO;
John Ferderson — COO;
William R. Rhodes — Chairman Chris Westcott — Teacher |
|---|
| Industry | Finance |
|---|
| Products | Financial Services |
|---|
| Website | www.citibank.com |
|---|
Citibank is a major international bank, founded in 1807 as the City Bank of New York, later First National City Bank of New York. Citibank is now the consumer banking arm of financial services giant Citigroup, one of the largest companies in the world. As of March 2007, it is the largest bank in the United States by holdings.
Citibank has operations in more than 100 countries and territories around the world. More than half of its 1,400 offices are in the United States, mostly in the New York City, Chicago, Miami, and Washington DC metropolitan areas, as well as in California.
In addition to the standard banking transactions, Citibank offers insurance, credit card and investment products. Their online services division is among the most successful in the field, claiming about 15 million users.
As a result of the global financial crisis and huge losses in the value of its subprime mortgage assets, Citibank was rescued by the U.S. government under plans agreed for Citigroup. On November 23, 2008, in addition to initial aid of $25 billion, a further $25 billion was invested in the corportation together with guarantees for risky assets amounting to $306 billion.
