Citibank, N.A. is a retail bank under Citigroup. Its main predecessor is the "City Bank of New York" established on June 16, 1812. After nearly two centuries of development and mergers and acquisitions, it has become the largest bank in the United States and an international bank with branches in nearly 50 countries and regions around the world. It is headquartered at 399 Park Avenue, New York City.
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Citigroup is the financial services group with the largest assets, the most profits, the highest global chain linkage, and the most complete business categories in the world today. It was formed by the merger of Citigroup and Travelers Group in 1998 and was relisted at the same time. After the stock exchange and listing, Citigroup used methods such as issuing new shares to raise funds for stock market acquisitions or directional equity swaps to carry out large-scale equity operations and expansion, and carried out Citigroup-style strategic output and global business integration for the acquired companies, allowing Citigroup to expand in the short term. In just five years, the total assets have expanded by 71%, shareholders' equity has increased by 92%, and capital strength has continued to improve; total revenue has increased by 72%, and profits have increased by 2.6 times, showing extraordinary profitability; its stock is undergoing a stock bonus (1 share for every 3 shares) and 22 dividends (dividends per share of ***$3.82), the net value per share still doubled, and the price doubled. Citigroup stock is a well-known blue-chip stock in the New York stock market, as famous as its business brand.
100th Anniversary
Citigroup, as the world's preeminent financial services company, serves approximately 200 million customers in more than 100 countries around the world, including individuals, institutions, businesses and government departments. , providing a wide range of financial products and services from consumer banking services and credit, corporate and investment banking services, to brokerage, insurance and asset management, unmatched by any other financial institution. The main ones now brought together under Citigroup are Citibank, Travelers Life and Pension Insurance, Smith Barney, Citi-financial, Banamex and Primerica.
In the 2002 ranking of the world's top 1,000 banks by various indicators by the British "Banker" magazine, Citigroup ranked first with tier one capital of 59 billion, total assets of 1.097 billion, and profits of 15.28 billion US dollars. , the profit level accounts for 6.1% of the total profit of 1,000 large banks of US$252.4 billion. According to Citigroup's latest annual report, Citigroup's tier-one capital in 2003 reached 66.9 billion, total assets were 1.264 billion, and profits were US$17.85 billion, an increase of 13.4%, 15.2%, and 16.8% respectively over the previous year.
Over the past 10 years, Citigroup's stock price, profitability and revenue have all achieved double-digit compound annual growth, and earnings growth has been higher than revenue growth. What particularly impressed peers was that despite a series of major events such as the 1998 Asian Financial Crisis, the 2001 Argentine Financial Crisis, and the War on Terror, when the overall profitability of 1,000 major banks fell by 14.9% and 29.7% respectively, Citigroup still reached Growth rates of 3% and 4.5% demonstrate the extraordinary risk resistance of Citigroup's financial system.
Citigroup is currently recognized as one of the most successful financial services groups in the world, not only because it continues to occupy a leading position among the companies with the highest profitability and growth rate in the global financial services industry, but also because it is the world's largest financial services company. The most globalized financial services chain company in the world. Citigroup serves more than 200 million customers in more than 100 countries. Every customer can get all-round financial services such as savings, credit, securities, insurance, trusts, funds, financial consulting, and asset management at any Citigroup business location. Services, the average number of products per customer ranks first among global peer companies, so Citigroup's customer relationship service network is an immeasurable resource for Citigroup. Sandy Weir once proudly said: "This network is The only real competitive advantage we have is that no matter where you go in the world, you are likely to find a Citibank institution that can serve you.”
The Bank of New York. York Company, Inc. (NYSE: BK) and Mellon Financial Corporation (NYSE: MEL) announced in July 2007 that the two parties had completed their merger to form The Bank of New York Mellon Corporation (Bank of New York Mellon Corporation) , giving birth to a global leader in asset management and securities services.
Bank of New York Mellon & Co. is listed on the New York Stock Exchange under the trading symbol "BK".
With assets under management exceeding US$1 trillion, Bank of New York Mellon Corporation ranks among the world's largest asset managers and has become the world's leading asset service provider with more than US$18 trillion in custody and custody assets. business. "We are building a leading global financial services growth company that no one can match," said Robert P. Kelly, CEO.
We have leadership positions in many high-growth businesses, unmatched product breadth and the ability to accelerate global expansion through strategic investments. The new company will be characterized by excellent service and outstanding performance, and will form a corporate culture that is absolutely customer-oriented, focusing on teamwork and execution as the magic weapon for success. ” In addition to asset management and securities services, the company also provides corporate trust, depositary receipts, settlement and shareholder services. It will rank among the top 10 U.S. wealth managers with more than $160 billion in client assets and is a leading An American provider of cash management and global payment services. The company has a balanced business structure with diversified revenue and earnings around the world, while also having operations in the fast-growing asset management and securities services industries. Thomas A. Renyi, executive chairman of the company, said: “The Bank of New York Mellon is well-positioned to provide superior service and value to our clients and deliver faster growth to our shareholders. We have completed this merger as planned and are now ready to carefully and rigorously integrate our capabilities to meet the future needs of our customers. ”
Bank of New York Co., Ltd. and Mellon Financial Corporation announced their merger plan in December 2020. Shareholders of the two companies overwhelmingly approved the transaction in May this year. The company’s annual revenue is approximately 13 billion U.S. dollars, with a pro forma market value of approximately 50 billion U.S. dollars. The company is headquartered in New York and has 40,000 employees around the world.
The Bank of New York is owned by Alexander Hamilton. Hamilton, founded in 1784, is the oldest bank in the United States. Bank of New York's business includes securities services, global payment services, asset management and private client services, corporate banking, retail banking and financial market services, and is known as one of the world's largest banks. One of the most stable and profitable money center banks, the Bank of New York is headquartered at One Wall Street in New York City, the financial center of the United States, and manages an international network of branches and branches in 33 countries.
The Bank of New York has a history of operating business in the Asia-Pacific region for more than 50 years. The company has 18 offices in 12 countries in the region, including branches in Shanghai, Tokyo, Hong Kong, Singapore, Seoul and Taipei, and employs 1,500 employees.
Bank of New York (NYSE: BK) is a global leader in providing a full range of services that help institutions and individuals move and manage their assets in more than 100 global markets. Financial Assets. The company has a long tradition of partnering with clients to deliver innovative solutions through its core competencies, including securities services, Treasury management, investment management and individual and regional banking services. Including many leading financial institutions, companies, government agencies, charitable funds and foundations, etc.