CITI meaning in Banking ?

Answer: What is Citibank mean?

Citibank is the consumer division of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex. The U.S. branches are concentrated in six metropolitan areas: New York, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.

As a result of the financial crisis of 2007–2008 and huge losses in the value of its subprime mortgage assets, Citigroup, the parent of Citibank, received a bailout in the form of an investment from the U.S. Treasury. On November 23, 2008, in addition to an initial investment of $25 billion, a further $20 billion was invested in the company along with guarantees for risky assets of $306 billion. The guarantees were issued at a time markets were not confident Citi had enough liquidity to cover losses from those investments. Eventually, the Citi shares the Treasury took over in return for the guarantees it issued were booked as net profit for the treasury as Citi had enough liquidity and guarantees did not have to be used. By 2010, Citibank had repaid the loans from the Treasury in full, including interest, resulting in a net profit for the U.S. federal government.

reference

Full Form	Category
Construction Industry Training Institute	Academic & Science
Citibank	Banking
Canterbury Information Technologies, Inc.	Business
Community Information Technology Institute	Community
Citibank India	Foreign Bank in India
Celibacy Is The Issue	General
Champva Inhouse Treatment Initiative	General
Collaborative Institutional Training Initiative	General
Christ is Totally Involved	General
Collaborative IRB Training Initiative	General
Columbia Institute For Tele Information	Governmental
Collaborative Institution Training Initiative	Governmental
Consejo Internacional de Tratados Indios	International
Creative Information Technology Inc	Technology
Curriculum Information Technology Integration	Technology
Center for Information Technology Integration	Technology