Citibank in outline
Citibank, founded in 1812, first had a name of City Bank of New York. Samuel Osgood became the first institution’s head. Later on, the bank’s management and ownership passed to Moses Taylor, one of the business tycoons of the 19th century. Under Taylor’s direction City Bank turned into a finance centre of his business empire.
In 1865 the bank merged into new national banking system and got a big name of The National City Bank of New York. By 1894 it grew into one of the major US banks.
It was the first large national bank to found a foreign department in 1897.
Today Citibank has branch establishments all over the world. Buenos Aires, Calcutta, London, Shanghai are just few cities where people bank with this financial giant. In 1919 Citibank became the first American banking institution to have saved $1 billion assets.
This bank was also one of the pioneers who introduced ATMs to provide its clients with a 24/7 access to their accounts.
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