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Citigroup Inc.

Company Detail

Description

Citigroup is a global financial services company that serves clients in more than 160 countries worldwide, providing consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services, and wealth management. It operates through two main business lines: Citicorp, comprising its global consumer banking business and the institutional clients group; and Citi Holdings, for non-core assets. In Latin America, Citigroup started operations in 1904 in Panama. After expanding to 23 countries in the region, in 2014 it announced a global streamlining plan that included selling off its consumer banking operations in Costa Rica, El Salvador, Guatemala, Nicaragua, Panama and Peru. Consequently, in 2016, the company announced its inten to sell its consumer banking branches in Argentina, Brazil, and Colombia. Citigroup was founded in 1815 as City Bank of New York. It adopted its current structure in 1998 after the merger of Citicorp and Travelers Group Inc.

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