Citibank

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Citibank was founded in 1812 as City Bank of New York. In 1894 it became the largest bank in the United States. In 1902 it began expanding internationally and became the first major US bank to establish a foreign department. By 1930 it became the largest bank in the world with 100 branches in 23 countries outside the United States. It changed its name to The First National City Bank of New York in 1955, then again to First National City Bank in 1962, and to Citibank in 1976.

Citibank was one of the first US banks to introduce Automatic teller machines in the 1970s, in order to reduce the number of human tellers and give 24-hour access to accounts.

Citibank is now the consumer and corporate banking arm of financial services giant Citigroup, the largest company of its kind in the world. Citibank has operations in more than 40 countries around the world. More than half of its 1,400 offices are in the United States, mostly in the New York, New York, Chicago, Illinois, Miami, Florida, and Washington, DC metropolitan areas, as well as in California.

In addition to the standard banking transactions, Citibank offers insurance and investment products. Their online services division is among the most successful in the field, claiming about 15 million users.

Contents

1 Miscellaneous financials

2 Key people

3 Competitors

4 See also

Miscellaneous financials

Fiscal year end: December
2002 Sales (in mil.) $45,883.0
2002 Net Income (mil.) $6,356.0
2002 Employees 129,545

Key people

Chairman: William R. Rhodes
President and CEO: Robert B. Willumstad
Chief Financial Officer: Todd S. Thomson