Citibank is a global consumer bank providing a host of banking and financial services.
The bank is part of Citigroup Inc., a diversified financial services company. In addition to providing traditional banking products and services, the bank also markets credit cards, insurance and investment products.
The City Bank of New York was founded in 1812. It changed its name to the National City Bank of New York in 1868 after joining the national banking system of the United States. National City Bank bank was the first U.S. bank to open a foreign office. The bank was renamed Citibank in 1976.
The bank suffered significant losses during the financial crisis of 2008 in the United States and was given a government bailout package in order to salvage the bank. The bank has since recovered from the crisis and was awarded Global Bank of the Year in 2013.
Citibank maintains its headquarters at New York City and Michael Corbat is the current Chief Executive Officer of the bank.