ORGANIZATIONAL CULTURE OF CITIBANK OVERVIEW WHAT IS CITIBANK

ORGANIZATIONAL CULTURE OF CITIBANK

OVERVIEW

WHAT IS CITIBANK: Citibank is the consumer division of financial services multinational citigroup. Citibank was founded in 16 June, 1812 as the City Bank of New York, later First National City Bank of New York. As of March 2010, Citigroup is the largest bank holding company in the United States by total assets.

CITIBANK (A GLOBAL BANK): Citibank is a global bank with 3, 777 branch locations in 36 countries. The United States is the largest single market with approximately 26% of branches, generating 51% of revenues. Citibank's 983 North American branches are concentrated in major metropolitan areas including New York City, Chicago, Los Angeles, San Francisco, Washington DC , Boston, Houston, Dallas and San Antonio. Latin America markets make up 25% of revenues, Asia 20%, and Europe / Middle East / Africa 4%.

KEY EMPLOYEES: v VIKRAM PANDIT (CEO) RICHARD PARSONS (CHAIRMAN) v

MAJOR COMPETITORS: v HSBC v DEUTSCHE v JPMORGANCHASE v BANK WEST v BANK OF AMERICA

AUTOMATED BANKING CARD: The bank launched the Citicard, which allowed customers to perform all transactions without a passbook. Branches also had terminals with simple one-line displays that allowed customers to get basic account information without a bank teller. When automatic teller machine were later introduced, customers could use their existing Citicard.

CREDIT CARD BUSINESS: John S. Reed was selected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. Under his leadership, the next 14 years would see Citibank become the largest bank in the United States, the largest issuer of credit cards in the world, and expand its global reach to over 90 countries.

AUTOMATIC TELLER MACHINES(ATM): Citibank was one of the first U. S. banks to introduce automatic teller machines in the 1970 s, in order to give 24 -hour access to accounts. Customers could use their existing Citicard in this machine to withdraw cash and make deposits, and were already accustomed to using a machine with a card to get information that previously required a teller. In April 2006, Citibank struck a deal with 7 -eleven to put its automated teller machines(ATMs) in more than 6, 700 convenience stores in the United States

NATIONWIDE EXPANSION: In 2001, Citibank settled a $45 million class action lawsuit for improperly assessing late fees. Some consumer advocate websites report that Citibank is still improperly assessing late fees. v In August 2004, Citibank entered the Texas market with the purchase of First American Bank of Bryan, Texas. The deal established Citi's retail banking presence in Texas, giving Citibank over 100 branches, $3. 5 billion in assets and approximately 120, 000 new customers in the state. First American Bank was renamed Citibank Texas after the take-over was completed on March 31, 2005. v

In 2008, Citibank was crowned Deal of the Year – Securitisation Deal of the Year at the 2008 ALB Japan Law Awards. v In 2011, Citigroup announced plans to expand into the metropolitan areas of Atlanta and Seattle. However, to date, these plans have not come to fruition. Citi has not confirmed nor denied whether these plans were scrapped or are still in the works. v

CITI FIELD: It was announced on November 13, 2006, that Citibank would be the corporate sponsor of the new stadium for the New York Mets. The stadium, Citi. Field, opened in 2009.

CITIBANK IN PAKISTAN: Citibank celebrates the 50 th anniversary in Pakistan in Jan, 2011. the Citi Foundation, Citigroup’s social investment arm, marks a decade of support towards various socioeconomic projects in the country, exceeding the total mark of US$1. 5 million in social sector support to Pakistan. Just this year, the Citi Foundation has provided US$400, 000 through five new grants to Pakistan, for a spectrum of development related initiatives.

Citi bank is the largest foreign bank in Pakistan which offers all types of modern day banking, credit cards, lines and loans and investment services. City Bank was one of the pioneer banks to launch following services in Pakistan for the first time Online banking and free bill pay E-mail and wireless banking alerts ATM Access Monthly Statements 24 x 7 Customer Service

CITIBANK IN INDIA: Citibank India is an Indian private sector bank headquartered in Mumbai, Maharashtra. It is a subsidiary of Citigroup , a multinational financial services corporation headquartered in New York City, United States. Citibank was established in India in 1902 in Calcutta(Kolkata), Citibank has a long history in India . Currently, Citigroup, the owner of Citibank India, is the largest foreign direct investor in financial services in India with a total capital commitment of approximately US$4 Billion in its onshore banking and financial services business and its principal and alternate investment programmes. It operates 41 full-service Citibank branches in 40 cities and over 700 ATMs across the country. Citibank is an employer of about 7, 500 people.

CITIBANK IN AUSTRALIA: Citibank Australia was opened in 1985 and was one of the first foreign banks to be granted a banking license in Australia, With its head office in Sydney, Citibank currently has major centers in Melbourne , Perth , and Brisbane and employs a total of about 1, 200 Australians. The parent company , Citigroup, has around a million customers in Australia and New Zealand , along with about 900 local corporate and institutional clients. Stephen Roberts is the Chief Executive Officer.

CITIBANK IN CHINA: Citibank (China) Company Limited was one of the first foreign banks to incorporate locally in mainland China in 2007. The Chinese unit of Citibank has been operating since 1902 and became the first American bank to establish operations in China. An office tower, the Citigroup tower , in Lujiazui, Shanghai is named after the bank.

CITIBANK IN CANADA: Citi Canada is a unit of Citigroup of New York City. With roots in Canada dating back to 1919, the Canadian unit currently employs approximately 3, 000 financial services workers in a range of consumer and institutional businesses. Citi Canada is headquartered in Toronto, with offices in Calgary, London (Ontario)

Citi Transaction Services: Citi Canada’s Transaction Services organization is a provider of securities and fund services to the Canadian fund industry. The company also offers integrated cash management, treasury, trade financing, custody, clearing, securities financing, depositary receipt, and agency and trust services to multinational corporations, financial institutions and public sector organizations. Citi Transaction Services employs 1, 000 financial services workers in Toronto, Mississauga, Montreal, Ottawa and Calgary.

CITIBANK IN SINGAPORE: Citibank Singapore Limited is a division of Citibank. of the United States and incorporated in Singapore on 28 June 2004. Its parent was awarded Qualifying Full Bank (QFB) status on 20 October 1999, and this status was transferred to the Singapore division on the day of its incorporation. The bank has a shared automated teller machine (ATM) network with HSBC, Maybank, The Royal Bank of Scotland Standard Chartered called atm. The bank's headquarters are located at Asia Square. The main branch is at Capital Square at 23 Church Street. With the QFB status, the bank was entitled to open up to 25 branches, with up to ten from 1 January 2005. Back-end operations are concentrated in Changi Business Park.

CITIBANK IN SAUDI ARABIA (SAMBA): Samba Financial Group (formerly known as The Saudi American Bank), is a large banking firm in Saudi Arabia. The combined institution had 66 branches in the Kingdom. Its international operations consist of a branch each in London, Qatar and Dubai, as well as a subsidiary that has 28 branches across major cities in Pakistan. First National City Bank (Citibank) opened its Jeddah branch in 1955, and its Riyadh branch in 1966. Citibank created SAMBA, in which it took a 40% share, to take over its branches in Saudi Arabia, pursuant to a Royal Decree on February 12, 1980. In 1985 SAMBA opened a branch in Istanbul that it closed after 1994, and at one point maintained a subsidiary in Geneva and a representative office in Beirut. In the late 1980 s SAMBA opened a branch in London.