Citigroup, one of the world’s largest financial services firms, reaped in net profits of $24.6 billion in 2005. The first US bank with more than $1 trillion in assets, Citigroup and its myriad subsidiaries offer deposits and loans (mainly through Citibank), credit cards, investment banking, brokerage and a host of other retail and corporate financial services. The company has more than 3,000 bank branches and consumer finance offices in the US and Canada, plus an additional 1,500 locations in about 100 other countries. Citigroup a holding company, provides a range of financial services to consumer and corporate customers worldwide. It operates through four segments: Global Consumer, Corporate and Investment Banking, Global Wealth Management, Alternative Investment. Citigroup was founded in 1812.

Citigroup Inc.
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New York, NY 10043
Phone: 212-559-1000
Fax: 212-793-3946

Citigroup reaches SEC settlement

Finance firm Citigroup is set to buy back billions of dollars worth of securities, as part of a settlement with the US financial regulator.

The deal with the Securities and Exchange Commission (SEC) comes after an investigation into whether the bank breached securities rules.

The SEC had looked at the sale and marketing of a bond often used by municipal authorities to raise funds

Citibank overcharged customers in Japan

A computer glitch at Citibank branches in Japan has caused 274,800 incorrect transactions over the past week, the latest Japanese problem at the firm.

As a result of the error, some account holders had transactions wrongly recorded twice, while others took place but then did not appear on statements.

Citibank said the computer problem had now been fixed

Citigroup fined £14m by UK watchdog

Citigroup, the US owner of Citibank, is to be fined £13.9m ($25.31m) by the UK’s Financial Services Authority (FSA) after a controversial bond trade

Citigroup pays $2bn in Enron case

US banking giant Citigroup has agreed to pay $2bn (£1.1bn) to settle a lawsuit brought by shareholders of collapsed energy trading firm Enron.

The class-action suit accused Citigroup of assisting Enron to carry out the huge accounting fraud which bankrupted it in 2001

Criminal probe on Citigroup deals

Traders at US banking giant Citigroup are facing a criminal investigation in Germany over a controversial bond deal.

The deal saw the sale of 11bn euros ($14.4bn; £7

South Korea to scrutinise Citigroup

South Korea’s markets watchdog has said it is to inspect Citigroup’s local operations, days after regulators censured the bank’s Japanese business.

The Financial Supervisory Service (FSS) said the probe would focus mainly on Citigroup’s private banking division. Last week, Japan’s market regulators ordered Citigroup to close its private banking operations there

Japan closes Citigroup branches

Japan’s market watchdog has ordered US banking giant Citigroup to shut down its private banking operations there.

Regulators said they found a list of problems at Citigroup’s private banking arm, from improper trading practices to lax anti-money laundering procedures. The regulator said Citigroup must cease operations at four branches that conduct private banking in Japan

Citigroup settles Worldcom claims

Citigroup is to pay $2.6bn to settle claims that it was partly to blame for losses suffered by investors who backed failed telecoms giant Worldcom.

The bank is facing legal action from Worldcom shareholders who lost out two years ago when the firm went bust after admitting it had inflated its profits

Citicorp Brokerage Executive Fired

NEW YORK (Reuters) – Citigroup Inc. C.N , the world’s largest financial services company, has fired William Maguire, the top executive in its Citicorp brokerage unit, the New York Times said on Thursday, citing a Citigroup spokesman