Citibank Case Study

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INTRODUCTION Citibank is the consumer division of Citigroup – a multinational provider of financial services. Initially founded in 1812 as the City Bank of New York, it was later renamed as First National City Bank of New York. Its largest presence is in the Unites States, with its 26% of branches present there. However, they generate 51% of its revenues. 25% of its revenues comes from Latin America, 20% from Asia and the rest 4% from Europe, Middle East and Africa. The 983 Citibank’s branches are concentrated in major metropolitan areas including New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., Miami, Houston, and Dallas. Citibank’s primary product is standard banking transactions but it also adds to it insurance, credit…show more content…
government following the global financial crisis of 2008-2009 and the subsequent huge losses that it incurred because of the devaluation of its subprime mortgage assets. Initially, $25 billion was given to them, but a further investment of $25 billion was made again on November 23, 2008 along with guarantees for risky assets amounting to $306 billion. Citibank has since repaid all the government loans, resulting in a net profit for the U.S. government. Citibank continuously offered more ways in which the Thank You Rewards members can use their Thank You Points. They were allowed to transfer these points to elite air and hotel loyalty programs and to use them to make online payment for bills through a Citibank checking account. Increasing number of opportunities were offered to the consumers through the Citi Prestige to earn points on airfare, hotel, dining and entertainment purchases, expanded airport lounge access, an annual airline travel credit and complimentary hotel night…show more content…
The number of their mobile banking clients has been growing rapidly in the past few years (the year 2104 saw a 50% increase over the 2013 numbers). This prompted them to launch simple, easy, intuitive digital products that deliver speed, convenience and value. It also came up with a new ATM experience in the United States to make everyday transactions easier and launched the Access Accounts for clients who prefer to use digital banking services which provide greater control over their finances. Lastly, it introduced Citi Mobile Snapshot to enable clients to view deposit and credit card balances without the need of logging in to their

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