Citibank



     Citibank is the consumer department of finance multinational Citibank. Citibank started in 1812 as metropolis Bank of New York, later Initially National City Bank of New York. The Combined States is the most significant single market with roughly 26% of branches, making 51% of revenues. Citibank's 983 United states branches are concentrated in major city areas including Nyc, Chicago, il, Los Angeles, San Francisco, Washington, D. C., and Miami. Latin America marketplaces makeup 25% of income, Asia 20%, and The european union / Middle East as well as Africa 4%.

In addition to standard banking ventures, Citibank markets insurance, credit cards, and investment products. Their online services department is among the most successful during a call, claiming about 15 , 000, 000 users.

As an effect of the global economic crisis of 2008-2009 and huge losses in the value of its subprime home loan assets, Citibank was bailed out by the help of the U. T. government. On November twenty-three, 2008, in addition to initial aid of $25 billion, an additional $25 million was used the company together with guarantees for risky assets amounting to $306 billion. Since this time, Citibank has given back its government loans in full, causing a net revenue for the U. S i9000. government.

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