The Citi Bank logo is one of the most recognizable in the U.S. and around the world. It’s one of the oldest banking institutions in the U.S. having been established back in 1812.
It was first known as the City Bank of New York.
Citi Bank is a division of the multinational Citigroup; a corporation that specializes in investment banking and other financial services.
The operations of this bank are mainly centered around the metropolitan areas of:
- New York City
- Los Angeles
- Miami
- Washington D.C.
- Chicago
- San Francisco
Apart from the U.S., the bank also has branches in several other countries including Poland, India, Russia and United Arab Emirates.
The bank also has a significant presence in Mexico which contributed around 13% of the banks total revenue in 2016.
NOTABLE POINTS IN HISTORY
- The bank was the victim of the first bank heists in the country in 1831. An unknown number of thieves made away with bank notes valued at tens of thousands of dollars and 398 gold doubloons.
- The bank financed war bonds for the war of 1812. It also underwrote war bonds of $50 million for the Union Army to fight the American Civil War.
- In 1897, the bank opened a foreign exchange department; a first for any bank. In 1899, it received the $5 million deposit that was to be paid to Spain for the Philippines.
- In 1894, the bank became the largest bank inside the U.S.
- In 1904, the bank helped to finance the construction of the Panama Canal
THE HEADQUARTERS
The headquarters of Citibank and Citigroup is the 388 Greenwich Street building. This skyscraper is located in the neighborhood of Tribeca in Manhattan.
The building is 495-ft tall and has 39 floors. It’s one of the few buildings in the city that utilizes double-decker elevators.
The building is ten blocks from the site where the World Trade Center once stood.
Citigroup had initially sold the building in 2007 but bought it back in 2016 after moving their headquarters there from 399 Park Avenue.
The 41-story Park Avenue building had been the bank’s headquarters since 1961.
THE BANK BY THE NUMBERS
- 4th: Citigroup is the fourth largest in the U.S. in terms of asset size. It’s a member of the exclusive Big Four.
- 200 Million: This is the number of customer accounts that the bank currently has
- 160: Citigroup has one of the largest global presence of any bank and operates in over 160 countries.
- 219,000: This is the number of employees the bank currently has. This is significantly less than the 357,000 employees it had at its peak before being forced to downsize during the 2007/2008 financial crisis.
Despite being hit hard by the financial crisis and need a government bailout, the bank has since paid back the government all the money with interest.
SERVICES OFFERED
Citi Bank offers a wide array of services along with its parent company, Citigroup. It caters to both individual customers, small businesses and large institutions. The bank offers mortgages, personal and commercial loans, credit cards and lines of credit.
CITI BANK HEADQUARTERS ADDRESS
388-390 Greenwich Street, New York, New York 10013