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Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City.The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank, and Travelers; Travelers was spun off from the company in 2002.
Citibank, N.A. ("N. A." stands for "National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation. [2] Citibank was founded in 1812 as City Bank of New York, and later became First National City Bank of New York. [3] The bank has branches in 19 countries.
Citigroup: Golden State Bancorp: Citigroup: $5.8 billion Citigroup: 2002 Washington Mutual: Dime Bancorp, Inc. Washington Mutual: JPMorgan Chase: 2002 HSBC Holdings plc: Household International, Inc. HSBC Bank USA: HSBC Bank USA: 2003 BB&T: 1st Virginia Banks, Inc. BB&T: Truist Financial: 2003 M&T Bank: Allfirst Bank: M&T Bank: M&T Bank: 2004 ...
Source: Recitethis.com. Citigroup is an enormous company. Its balance sheet homes nearly $2 trillion of assets. Yet the future of the company can be summed up in three simple words. Citigroup CEO ...
On 6 August 2001, Citigroup Inc. acquired Grupo Financiero Banamex-Accival for US$12.5 billion, which became Grupo Financiero Banamex. [10] This was the largest-ever U.S.-Mexico corporate merger. Grupo Financiero Banamex's operations were integrated with Citibank's relatively small existing Mexico business under the Banamex brand name. [3]
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In April 1998, the Travelers Group merged with Citicorp to form Citigroup. [14] However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002, [18] although it kept the red umbrella logo.