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Citigroup INC

Citigroup is a diversified financial services holding company that provides various financial products and services.

Summary

Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. Learn more today.

History

Citigroup’s origins date to the early 19th century. In 1811 the U.S. Congress refused to renew the charter of the First Bank of the United States—the country’s central bank, which had branches in cities such as New York. Thus, on June 16, 1812, some of the First Bank’s New York shareholders and other investors secured state incorporation of the City Bank of New York, which was later established in the branch banking rooms of the old First Bank. The bank grew as New York City became the nation’s commercial and financial capital, and in 1865 it was chartered under the National Bank Act and renamed the National City Bank of New York. In 1897 it became the first large American bank to open a foreign department and, in 1915, became America’s leading international bank upon the purchase of International Banking Corporation (founded 1902), which had 21 overseas offices in 13 countries and territories.

Other mergers and acquisitions in the United States and overseas expanded the bank. Notably, in 1931 it acquired the Bank of America, N.A. (another descendant of the First Bank of the United States and no relation to the former California-based bank founded by Amadeo Peter Giannini). In 1955 it merged with the First National Bank of the City of New York (founded 1863). Upon the latter merger, the consolidated company took the name of First National City Bank of New York.

Vision

We believe that excellence in consulting requires client advocacy and stewardship, a passion for leading-edge investment solutions and the delivery of experienced consulting services in a way that helps us exceed our clients expectations every day.

Mission

Citi’s mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. We have 200 years of experience helping our clients meet the world’s toughest challenges and embrace its greatest opportunities. We are Citi, the global bank – an institution connecting millions of people across hundreds of countries and cities.

References

https://www.britannica.com/topic/Citigroup

https://www.crunchbase.com/organization/citigroup

https://www.citigroup.com/citi/about/mission-and-value-proposition.html#:~:text=Citi’s%20mission%20is%20to%20serve,on%20behalf%20of%20our%20clients.

https://en.wikipedia.org/wiki/Citigroup