Citibank India

By: EconomyWatch Content   Date: 30 October 2009

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Citibank India is one of India’s leading foreign banks with a strong presence across the country’s major business centers. The bank offers comprehensive financial solutions to retail, enterprise and corporate customers.

About Citibank India

Citibank India is a banking subsidiary of the Citigroup. The Citibank group was established in the year 1812. It is one of the largest financial institutions in the US with a worldwide customer base of above 15 million spanning across 100 countries.

Established in 1902, Citibank India did not find immediate success as the Indian economic scenario was closed and dominated by nationalized banks. This hampered the bank’s business severely.

Following 1985, the bank focused on business expansion by launching several innovative products for both retail and corporate clients. It emerged as one of the country’s pioneer banking institutions to launch internet banking and mobile banking services.

The bank’s official 2009 data indicates that Citibank has a strong presence in 28 locations across India, including major business-oriented states such as:

  • Ahmadabad

  • Bangalore

  • Cochin

  • Delhi

  • Hyderabad

  • Indore

  • Kolkata

  • Mumbai

  • Noida

  • Surat

  • Vadodra

Based on the financial statement for the year 2008-09, the Citibank India has total assets crossing more than Rs. 1 billion. The bank enjoyed a net profit of over Rs. 2 crores in the given financial year.

Citibank India: Product and Services

Citibank India offers a range of products and services such as:

Deposit accounts: It includes:

  • savings accounts

  • current accounts

  • recurring deposits

  • pension funds

  • term deposits

Credit Cards: After the financial crisis of 2008, the bank follows stringent procedures for issuing the credit cards. It offers gold, platinum, signature and specialty cards to qualified customers.

Loans: Loan products include:

  • personal loans

  • home loans

  • ready credit

  • auto loan

  • loan against property

Banking: For corporate customers, Citibank India has:

  • zero minimum balance Suvidha account

  • debit cards

  • phone banking

  • asset management services

Insurance: The bank’s most popular products are:

  • life insurance

  • health insurance

  • travel insurance

NRI banking: The non-resident Indians can avail foreign exchange, remittance and deposit account services.

The Citibank India has one of the best and most secure Internet banking services with highly secure socket layer environment, virtual keyboard and PIN technology to enable safe online banking.


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