Headquartered in New York, Citigroup Inc. is a globally diversified financial services holding company providing a range of financial products and services including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management to consumers, corporations, governments and institutions. Citigroup has around 200 million customer accounts in more than 160 countries and jurisdictions.
Citigroup operates in North America, Asia, Latin America, and Europe, Middle East, and Africa (EMEA) regions. The company currently reports via four business segments effective first-quarter 2022.
Institutional Clients Group (ICG) consists of three reporting units — Banking (Investment Banking and Corporate Lending), Markets (Fixed Income and Equity Markets), and Services (Treasury and Trade Solutions, and Securities Services).
Personal Banking & Wealth Management consists of Global Wealth Management and US Personal Banking reporting units. Legacy Franchises will house businesses being exited (Asia consumer and Mexico businesses) and the legacy holding assets. The fourth reporting segment is Corporate/Other.
In July 2018, Scotiabank’s Colombian subsidiary, Banco Colpatria Multibanca Colpatria S.A., acquired the consumer (retail and credit cards), and small and medium enterprise operations of Citibank in Colombia.
In October 2017, Citigroup completed the sale of consumer business in Brazil to Itau Unibanco. The deal was inked for around $220 million. In August 2017, Citigroup completed the sale of the fixed income analytics (Yield Book) and a fixed income index business. The transaction generated a pre-tax gain on sale of $580 million ($355 million after-tax).
In March 2017, Citigroup completed the sale of CitiFinancial, its subprime lending unit in Canada, to an investor group led by private investment firm – JC Flowers and Värde Partners – initiated in November 2016. Citigroup also completed sell of consumer banking business in Argentina to Banco Santander Rio, entered in October 2016.
As of Mar 31, 2022, Citigroup reported $2.39 trillion in assets, $660 billion in loans, $1.33 trillion in deposits, and $178 billion in common shareholders' equity.