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Date Published : Tuesday, February 19, 2008
Australia has taken many US companies under its wing in recent times. None more so that Citibank, one of the biggest players in the financial services market in the US.
While still relatively new in Australia, Citibank already can claim to boast more than one million customers throughout the nation, with that number rising rapidly.
Citibank is the consumer and corporate banking branch of the Citigroup financial services firm, which was formed after a merger in 1998.
However, its history lies under the name of the City Bank of New York which, through the late 19th century, was the main bank in that city. A succession of mergers and acquisitions made it into a major force in the world markets and, today, Citigroup has over 200 million customers in 150 countries.
Citibank Australia was formed in 1985 and was given a license to trade later that year. Despite this though, it remained only a small player in the nation's banking system until the late 1990s.
Based in Sydney, Citibank Australia offers customers deals on home loans and personal loans, savings accounts, credit cards and insurance. It is also one of the biggest providers of superannuation funds in Australia.
Citibank prides itself on its international strengths and offers multi and dual currency accounts as well as a full range of superannuation and investment options, including international investment accounts. Its international clout means its consumer products can be very competitive.
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