Citigroup

[vengabeats]

From - http://ibef.org/artdisplay.aspx?cat_id=465&art_id=6806

Citigroup opened its first office in India in Kolkata (Calcutta) in 1902. With capital nearing US$ 1 billion it is the single largest foreign direct investor in the financial services industry in India. It has become one of India’s most diverse and recognised financial service providers operating through 30 branches of Citibank N.A. across 20 cities and through various finance companies operating directly/indirectly out of locations across the country. Citigroup India offers a complete range of corporate and investment banking services under the “Citigroup� brand name, consumer banking products and services under the “Citibank� banner and consumer finance under the “CitiFinancial� banner. Citigroup has a customer base of over 900 large corporates, over 22,000 small and medium enterprises and over 3,500,000 retail customers.

The global corporate and investment banking group provides a range of financial services including treasury management, transaction services including cash management and trade services, securities custodianship, foreign exchange, fixed income and equities sales and trading, and corporate finance to corporate clients, governments and financial institutions. In retail banking, Citibank offers credit cards, mortgages, personal and auto loans, insurance, and investment services for customers.

In addition to the above, Citigroup has significant investment through its venture capital arm in various software/non-software companies in India, the primary ones being i-Flex Solutions Limited and Polaris Software Labs Limited. Citigroup was also one of the pioneers in housing its back office processing/call centre company for its global activities in India through e-Serve International Limited.

The bank had revenues of US$ 800 million in 2003-04 and employs in excess of 8,500 people across various legal vehicles.