Citibank is one of the largest banks in the U.S., and is a part of the financial services company Citigroup. Citibank had been founded in the year 1812. Initially its name was City Bank of New York, which was later changed to First National City Bank of New York.
In over 100 countries worldwide, Citibank has been carrying out its operations, which comprise of regular banking services along with credit card, insurance and investment services. The bank claims to have a customer base of 15 million users catered by its online services division alone.
As Citibank was badly affected by the financial crisis of 2008, the U.S. government provided the bank with an aid of US$ 50 billion in two installments of US$ 25 billion each.
Presence in India
In India, Citibank is present at 28 locations as of April 13, 2009. These locations include Jalandhar, Ludhiana, Chandigarh, Noida, Delhi, Gurgaon, Faridabad, Lucknow, Jaipur, Ahmedabad, Vadodara, Indore, Bhopal, Surat, Nashik, Aurangabad, Akola, Bhubaneshwar, Kolkata, Vapi, Mumbai, Pune, Hyderabad, Bangalore, Chennai, Pondicherry, Cochin and Coimbatore. |
Products and Services
The bank offers a variety of services and products under the Personal Banking, NRI Banking and Corporate Banking categories.
The services offered by the bank under Personal Banking are Loans and Credit Cards, Regular Banking services such as savings account, business banking solutions including Personal Wealth Management and investment options such as Mutual Funds and Demat Services. The bank also offers various insurance solutions and hi-tech banking services such as Online Bill Pay, Pre-paid Mobile Recharge, Internet Banking and CitiAlert account statements on the mobile phone.
NRI Oriented Services
For its Non-Resident Indian (NRI) customers, Citibank provides a wide range of services including Rupee Checking Account, Money Remittance, Investment solutions and Home Loans for the NRIs.
Citibank also pays specialized attention to its corporate customers in India through its Corporate Banking services, which comprises of an array of customized banking solutions tailor-made according to the needs of its corporate customers in India. These services include Cash Management, Trade Services, Loans, Securities and Fund Services, and Investment Banking services.
Global Commercial Bank Services
Apart from it, Citibank also offers Global Commercial Bank services through its Commercial Relationship Banking wing and Global Subsidiaries Group. The Commercial Relationship Banking services are aimed at helping the Small and Medium Enterprises (SMEs) and Mid Market Enterprises, while the Global Subsidiaries Group provides comprehensive banking services for the top multinational corporates and their subsidiaries in India.
|
