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A question from Citibank

Citibank is a retail bank affiliated with Citigroup (NYSE: C). Its main predecessor is the "City Bank of New York" established on June 16, 1812 ( City Bank of New York), after nearly two centuries of development, mergers and acquisitions, has become the largest bank in the United States. It is also a major international bank with branches in nearly fifty countries and regions around the world. It is headquartered in Park Park, New York City. 399 Avenue. In October 1998, Citicorp, the parent company and holding company of Citibank, and Travelers Group merged to form Citigroup. Since then, Citibank has continued to remain a strong brand under Citigroup's "Red Umbrella" . According to the U.S. Federal Deposit Insurance Corporation (FDIC), on March 31, 2005, the total domestic deposits of the 12 U.S. Citibanks controlled by Citigroup were US$204,351,066,000, and the total assets were US$935,236,982,000. U.S. dollars (more than $900 billion); these figures do not include Citibank's overseas operations.

Citibank is the first American bank to set up business in China. On May 15, 1902, the International Banking Corporation, one of the predecessors of Citibank, opened a branch in Shanghai. This was also Citibank's first institution in Asia. In the same year, International Banking Corporation opened four other institutions in Singapore and Manila on July 1, Yokohama on October 8, and Hong Kong, China on December 8. On August 3, 1964, Citibank opened a branch in Taipei. Citibank's business in Macau began on May 27, 1983. In 1995, after 45 years of absence, Citibank resumed regular business operations in mainland China and has opened branches in Beijing, Guangzhou, Shanghai, Shenzhen, Tianjin, and Chengdu. In mainland China and Taiwan, Citibank is translated as "Citibank", while the Chinese communities in Hong Kong, China and New York use "Wan Guo Baotong Bank" (possibly derived from the name of International Banking); at the end of 2001, the Chinese name used in Hong Kong, China Changed to "Citibank" connected to Mainland China and Taiwan.

Table of Contents [Hide]

1 Major Events

2 Management and Operations

2.1 Citigroup Board of Directors

2.2 Main Competitors

3 Branches

3.1 Greater China

3.2 Asia and the Pacific

3.3 Europe

3.4 Latin America

3.5 North America

4 External links

5 References

6 Related entries

[Editor]

Important Events

On June 16, 1812, the "City Bank of New York" (City Bank of New York), which later developed into Citibank, was chartered by the New York State *** Established with authorized capital of US$2 million and paid capital of US$800,000. On September 14 of the same year, City Bank officially opened in New York City to serve New York merchants.

In 1865, it joined the newly established U.S. national banking system and changed its name to "The National City Bank of New York".

In 1894, it became the largest bank in the United States.

In 1897, it was the first major bank in the United States to set up a foreign business department and start foreign currency trading business.

In 1902, the business expanded to Asia, Europe, and India. And set up offices in Shanghai, Manila and other places.

In 1904, the traveler's checks business was launched. The bank's headquarters moved to 55 Wall Street, where it remained until 1961.

In 1913, he was the principal shareholder of the Federal Reserve Bank of New York.

On November 10, 1914, it opened a branch in Buenos Aires, Argentina, becoming the first U.S. national bank to set up a branch in a foreign country.

In 1915, an office was established in Rio de Janeiro, Brazil. Become the international bank with the largest overseas institution network in the United States.

In 1918, an American overseas bank, the International Banking Corporation, was acquired.

In 1919, it became the first bank in the United States with assets exceeding US$1 billion.

In 1921, the first major bank in the United States adopted the compound interest method to calculate interest on savings accounts.

In 1928, it was the first major bank in America to provide unsecured personal loans (unsecured personal loans) to depositors.

In 1929, it became the world's largest commercial bank. Acquired "Farmers' Loan and Trust Company" and renamed it "City Bank Farmers Trust Company".

In 1936, it was the first bank in New York City to open a checking account (checking account) business that did not require a minimum balance.

In 1939, it was the first to be distributed outside the United States. With 100 offices in 23 countries, it has become the largest international bank.

In 1945, in a series of war loans and victory loans, $5.6 billion in U.S. Treasury securities were sold.

In 1955, the name was changed to "The First National City Bank of New York" (The First National City Bank of New York)

In 1961, the negotiable certificate of deposit (negotiable certificate of deposit) was invented. . "First National City Overseas Investment Corporation" was established as the holding pany for overseas branches and affiliated institutions. The new headquarters building at 399 Park Avenue was completed.

In 1962, on the occasion of the bank's 150th anniversary, it was renamed the shorter "First National City Bank".

In 1964, it entered the leasing business.

In 1965, it entered the credit card business.

In 1966, Dollar Certificates of Deposit was opened in the London market. It was the first negotiable instrument in the London market since 1888.

In 1967, Citibank launched its first credit card, the First National City Charge Service, commonly known as the "Everything" card.

In 1968, a bank holding company, First National City Corporation (later renamed Citicorp), became the parent company of First National City Bank.

In 1969, "Nangkuo All Cards" was transformed into "Master Charge" (later renamed MasterCard).

In 1974, First National City Corporation was renamed Citicorp to facilitate its international business.

In 1976, First National City Bank became Citibank, N.A. (N.A. stands for National Association).

In 1977, Citibank opened the Citicard Banking Center to provide services using Citicard cards and automated teller machines (ATMs). 24-hour ATMs are no longer just for emergency cash withdrawals, but have become part of normal business.

In 1979, it became the world's leading foreign currency trading agent.

In 1981, "Diners Club" was acquired.

Between 1982 and 1984, Citigroup acquired savings and loan businesses in California, Florida, Illinois, and Washington, DC, making Citigroup the largest bank holding company in the United States.

In 1984, Citibank London Branch became one of the founding members of Chambers Clearing Company (CHAPS Clearing Company). Chambers Clearing Company is the world's second largest real-time gross settlement system after Fedwire in the United States.

In 1985, the "Direct Access?" service was launched in New York, connecting to Citibank through a personal computer.

In 1986, touch-screen automated teller machines were first used in New York and Hong Kong.

In 1989, it became the leading issuer of secured credit card receivables. A new skyscraper is completed in Court Square, Long Island City, New York.

In 1992, Citibank became the largest bank in the United States. Citigroup has branches in more than 90 countries.

In 1993, it became the world's largest issuer and service provider of credit cards and charge cards. The various depository banks acquired in the 1980s were merged and operated under the name "Citibank Federal Savings Bank" (Citibank, FSB).

In 1994, the first wholly foreign-owned commercial bank in Russia was opened.

In 1995, after an absence of 45 years, the first full service branch was opened in mainland China, and branches were opened in Vietnam and South Africa.

In 1996, it had the largest number of credit cards in Asia. Taiwan is the first country/region outside the United States to have more than 1 million credit cards.

On October 8, 1998, all subsidiaries of Citicorp and Travelers Group merged to form Citigroup Inc. Citibank continues to remain a strong brand under Citigroup.

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