Headquarters: 388 Greenwich St.
New York, NY 10013
CEO: Jane Fraser
Stock Symbol: C
Citigroup is one of the world's leading financial services companies with 200 million accounts in 160 countries. It operates Citibank, one of the world's leading banks.
The company reported revenues in 2021 of $71.9 billion, down from $75.5 billion the previous year. Net income was $22.0 billion.
The company reported total assets of $2.29 trillion and deposits of $1.31 trillion at the end of 2021.
Citigroup currently operates via two primary business segments: Global Consumer Banking (GCB) and Institutional Clients Group (ICG) , with the remaining operations in Corporate/Other.
Citi is the world's largest issuer of credit cards with 132 million accounts and $505 billion in annual purchases. The company offers branded credit cards in partnership with retailers including Best Buy, Wayfair, Meijer, Shell, Home Depot and Macy's.
Citi's Global Consumer Bank (GCB) had 2,300 branches at the end of 2020 with $345 billion in deposits and $282 billion in loans.
Jane Fraser became CEO of the company in March 2021.
Citigroup has employees in 100 countries and 51% are women.
On June 16, 1812, New York State charters City Bank of New York with $2 million in capital. It opened for business on Sept. 14,1812 to serve a group of merchants. In 1865, City Bank joins the new U.S. national banking system and becomes The National City Bank of New York. By 1894, City Bank was the largest bank in the country. The bank would introduce traveler's checks in 1901 and moved to larger quarters at 55 Wall Street, its headquarters until 1961. The company would move into its current location at 399 Park Ave. in 1961.
In 1955, the bank changed its name to The First National City Bank of New York. The company would become Citibank, N.A. (for National Association) in 1976.
In 1998, the company would merge with Travelers Group to become Citigroup.
Other divisions of Citigroup include: Smith Barney, founded in 1873; Banamex, formed in 1884 as a result of the merger of Banco Nacional Mexicano and Banco Mercantil Mexicano; and Salomon Brothers, which dates back to 1910 and later merged with Smith Barney, a subsidiary of Travelers Group at the time.
In January 2005, Citigroup announced that MetLife would buy the Traveler's Life Insurance business for $11.5 billion.
In 2005, the company completed the sale of its Asset Management business to Legg Mason, in exchange for Legg Mason's broker-dealer business and other consideration.
Due to the financial crisis, Citigroup received $20 billion from the U.S. Treasury starting in 2008 under the Troubled Asset Relief Program (TARP) in exchange for preferred stock. Citigroup paid back this money by the end of 2009.
In the U.S., employees receive comprehensive medical, dental and vision-care coverage, flexible spending accounts, life insurance and disability coverage.
It also offers a 401(k) Plan, Employee Stock Purchase Plan, Pension Plan and other select stock and stock option programs.