Citibank Argentina
Consumer Finance Credit cards | |
| Total assets |  US$ 3.6 billion (2/2010)[1] |
|---|---|
Number of employees | 2,518 (2/2010)[1] |
| Website | argentina.citibank.com |
Citibank Argentina is a commercial bank and financial services company operating as a wholly owned subsidiary of New York–based Citigroup. Its banking operations are the tenth largest in Argentina.[1]
Overview
Citibank Argentina was established in 1914 as the Buenos Aires branch of the
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The president of Citicorp Argentina during the 1990s, H. Richard Handley, had been raised in Argentina with the chairman of Citigroup at the time, John S. Reed, and obtained his support for the bank's lucrative participation in the 1990 sale of the state telephone concern ENTel.[4] Under bank president Carlos Fedrigotti, the bank acquired Buenos Aires–based Banco Mayo in 1998, stabilizing the insolvent institution's finances, and doubling Citibank's network.[5]
Losses registered during the
The bank issues an array of credit cards, including
Citibank Argentina maintains 60 branches, US$2.2 billion in deposits, and a loan portfolio of $1.4 billion (around 3% of the domestic market in each).[1]
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Headquarters
The headquarters of Citibank Argentina, at Bartolomé Mitre 502, are in the heart of the Buenos Aires financial district, and face the offices of the Bank of the Province of Buenos Aires and Banco Santander Río, two of its largest competitors. The building, notable for its Art Deco façade and main hall, was designed by Luis Aberastain Oro and Lyman Dudley, and completed in 1929. The building was also known in its early decades for the Club Americano, a social club located on the top floor, and popular with Buenos Aires' sizable American expatriate community.[9]
References
- ^ a b c d ABA: ranking Archived 2011-07-07 at the Wayback Machine
- ^ Citi en Argentina Archived 2011-07-08 at the Wayback Machine (in Spanish)
- ^ Citibank: press link (in Spanish)
- ^ New York Times (April 19, 1994)
- ^ Blanco, Javier (28 October 1998). "El Central adjudicará el Banco Mayo al Citibank". La Nación.
- ^ International Herald Tribune: SEC investigates Citigroup over losses in Argentina
- ^ BN Americas: Citigroup apunta a segmento de ingresos medios
- ^ BN Americas: Citi vende unidad de financiamiento de consumo Provencred a Comafi (in Spanish)
- ^ Nuestra Arquitectura (January 1930): El nuevo edificio del National City Bank of New York.