Citi is one of the largest banks in the world. Its strength is in lending to the self employed and high net worth clients as it able to provide more of its global services to these clients.
Facts and lender background
Citi is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citibank Australia was opened in 1985 and was one of the first foreign banks to be granted a banking license in Australia.
Citi has total assets of around US$2 trillion. Citigroup is ranked 3rd on the list of largest banks in the United States and, alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banks of the United States. It is a systemically important financial institution and is on the list of systemically important banks that are too big to fail.
Citigroup is rated A3 by Moodys. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with Citigroup Pty Ltd.
Citibank is publicly listed on the NYSE.
Citibank had wholesale funding but as a whole is driven by global funding issues.
Product Review Rating
average is 2.1 / 5
You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.
Internet banking is available.
Customers can withdraw cash free of charge from any of the major banks ATMs.