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Bank
FINANCIAL | Retail Banking
citi.com

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Investments

52

Portfolio Exits

16

Partners & Customers

10

About Citibank

Citibank provides commercial and consumer banking products and services, and offers checking accounts, savings accounts, certificates of deposit, and individual retirement accounts and rollovers; credit cards; lending products, such as home equity lines and loans, personal lines and loans, and mortgages; and investment products, which include insurance, annuities, advisory accounts, bonds, mutual funds, and securities backed lending; and financial education on wealth management.

Citibank Headquarter Location

388 Greenwich Street

New York, New York, 10013,

United States

+1 605 331 2626

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Citibank Rank

Research containing Citibank

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CB Insights Intelligence Analysts have mentioned Citibank in 3 CB Insights research briefs, most recently on Jun 8, 2021.

Latest Citibank News

Citibank personal loans review: Loans with solid interest rates for existing Citi customers

Jan 25, 2022

Editor's rating: 3.25 out of 5 stars The bottom line:  Citibank offers personal loans with decent interest rates compared to the competition. However, only existing Citi customers are eligible for loans, and the amount you can borrow is limited. Citibank personal loan amounts and interest rates Citibank loan amounts range from $2,000 to $30,000, and the company accepts loan applications from residents of all 50 states and Washington, DC. Depending on your credit score and other financial factors, your APR will range from 7.99 to 23.99%, which is average compared to some other major competitors' APR ranges. For example, Marcus' rates range from 6.99% to 19.99%, while Avant's loans have APRs between 9.95% to 35.99%. Pros and cons of Citibank personal loans Pros Competitive APR range. Both the top and bottom ends of Citi's APR range are in line with other similar lenders. However, if you have top-notch credit you might be able to get lower rates with other lenders, like Lightstream or SoFi . No prepayment penalty or origination fee. You're able to pay off your loan without incurring an additional fee. Citi also won't charge you an origination fee, which is an amount of money deducted from your loan balance when funds are disbursed. Rate discount with Autopay. You'll receive a 0.50% interest rate discount when you sign up for automatic payments on your loan. Cons Only available to existing Citi customers. You must have a Citi deposit account open for a minimum of one year before you can apply for a loan. Late fees. You'll be charged a late fee of $25 if your loan payment is late. Citi also ups the interest rate by 2% for borrowers 60 days behind on repaying their loan. Unable to add a cosigner to your loan application. If your credit score isn't in the best shape and you are hoping to add a cosigner to your loan to increase your chances of approval, you can't do so with Citi. Poor Better Business Bureau score. The BBB has given Citi an F rating ,  Slow loan funding. It can take up to five business days to receive your money. Other lenders offer same-day funding if you need your money more quickly. No option to prequalify. Citi will perform a hard credit inquiry before giving you your rates. A hard credit inquiry offers the lender a complete view of your credit history, but may negatively affect your credit score. Who is Citibank best for? Citibank is best for borrowers who already have a relationship with the bank and feel comfortable with the company. If you only want a small amount of money and don't need it right away, Citi could be a good option for you. The bank's customer service is also available seven days a week, so the company will be able to answer any questions you have throughout the week. How Citibank personal loans compare Citi  *While Avant does not charge an origination fee, it does charge an administration fee of up to 4.75%. An administration fee is deducted from your loan proceeds when the loan is funded. Avant is the best for borrowers with a shakier credit history, as its minimum credit score is only 600. While the minimum credit scores for Marcus and Citi are undisclosed, you'll likely need a good credit score to qualify for a loan. Marcus charges no fees whatsoever, while Avant has an administration fee and an undisclosed late fee. Citi has a late fee of $25. Marcus offers a unique feature — an on-time payment reward. If you pay your loan on time and in full every month for one year, you can forgo a month of payments, and interest will not accrue during that period. Marcus will then extend your loan by one month. How Citibank personal loans work Citibank (Member FDIC) offers unsecured, fixed-rate personal loans for purposes such as medical expenses, home improvements , and even vacations . You don't need to put up collateral — like a house or car for a mortgage or auto loan — to get an unsecured loan. You need to have a Citi deposit account open for at least 12 months, as well as an annual income of at least $10,500 to qualify for a Citi loan. Eligibility also depends on your credit score and other financial factors. You aren't able to have a coborrower or cosigner on your loan. Citi's repayment term lengths range from one to five years. You can pay off your loan early with no penalty, and the company doesn't charge origination fees. You'll incur a late fee of $25 if you fall behind on a payment. Citi also ups the interest rate by 2% for borrowers 60 days behind on repaying their loan. You'll get your money in the form of a mailed check within five business days, which is slower than with many comparable lenders. There is no option to prequalify for a loan, meaning if you want to know your rates from Citi, you'll have to undergo what's called a hard credit inquiry . A hard credit inquiry gives the lender a comprehensive view of your credit history, but may negatively impact your credit score. You may contact Citi's customer support line Monday through Sunday from 9 a.m. ET to 11 p.m. ET. Citi is also available via a messaging service through your account either online or through its mobile app, available on the Google Play and Apple Store . Is Citibank trustworthy? The Better Business Bureau, a nonprofit organization focused on consumer protection and trust, gives Citibank an F rating . The BBB determines its ratings by taking stock of a company's responses to consumer complaints, openness about business practices, and honesty in advertising. The BBB gives the bank this bottom-grade rating because of its failure to respond to 11 complaints made against the business, 81 unresolved complaints, and a government action against the business. In September 2020, the Commodity Futures Trading Commission ordered three Citibank affiliates to pay a $4.5 million fine for failing to properly store audio recordings, which were deleted. Citi has also been at the center of another recent scandal. In October 2020, the federal government fined Citi $400 million over its failure to fix prevalent risk management concerns. You might consider a different lender if Citi's low BBB score and recent scandals bother you.

Citibank Investments

52 Investments

Citibank has made 52 investments. Their latest investment was in mPharma as part of their Debt on January 1, 2022.

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Citibank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/5/2022

Debt

mPharma

$5M

Yes

2

12/17/2021

Debt

Household Capital

$214.5M

Yes

1

12/1/2021

PIPE - III

MercadoLibre

$375M

Yes

1

10/26/2021

Line of Credit

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$99M

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10

9/7/2021

Series C

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$99M

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10

Date

1/5/2022

12/17/2021

12/1/2021

10/26/2021

9/7/2021

Round

Debt

Debt

PIPE - III

Line of Credit

Series C

Company

mPharma

Household Capital

MercadoLibre

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Amount

$5M

$214.5M

$375M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

1

10

10

Citibank Portfolio Exits

16 Portfolio Exits

Citibank has 16 portfolio exits. Their latest portfolio exit was Citibank - Philippines Consumer Banking on December 23, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/23/2021

Divestiture

$99M

4

11/3/2021

IPO

1

8/9/2021

Divestiture

$99M

3

10/30/2020

IPO

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$99M

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10

9/16/2020

IPO

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$99M

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10

Date

12/23/2021

11/3/2021

8/9/2021

10/30/2020

9/16/2020

Exit

Divestiture

IPO

Divestiture

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

1

3

10

10

Citibank Acquisitions

2 Acquisitions

Citibank acquired 2 companies. Their latest acquisition was Akoya on February 21, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/21/2020

Other

$99M

Corporate Majority

1

1/1/1999

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$99M

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10

Date

2/21/2020

1/1/1999

Investment Stage

Other

Companies

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Valuation

$99M

$99M

Total Funding

Note

Corporate Majority

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Sources

1

10

Citibank Partners & Customers

10 Partners and customers

Citibank has 10 strategic partners and customers. Citibank recently partnered with Sharegain on March 3, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

3/24/2021

Partner

Sharegain

United Kingdom

Citi partner Sharegain to launch automated securities lending platform for wealth managers

Citi has launched the first fully automated securities lending solution for wealth management firms they custody , in partnership with fintech firm Sharegain .

1

2/5/2021

Partner

Google

United States

Citibank news: Google teams up with Citibank on mobile-first accounts - FairShake Consumer News

Citibank news : Google teams up with Citibank on mobile-first accounts .

1

1/19/2021

Vendor

Volante Technologies

United States

Volante Extends Collaboration with Citi for Global ISO 20022 Migration.

NEW YORK , January 19 , 2021 -- Volante Technologies , the global leader in cloud payments and financial messaging , and Citi Ventures are deepening their longstanding relationship to accelerate the bank 's adoption of the ISO 20022 financial messaging standard across its global payments operations .

2

12/9/2020

Vendor

Moneyhub

United Kingdom

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10

11/18/2020

Partner

Google

United States

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10

Date

3/24/2021

2/5/2021

1/19/2021

12/9/2020

11/18/2020

Type

Partner

Partner

Vendor

Vendor

Partner

Business Partner

Sharegain

Google

Volante Technologies

Moneyhub

Google

Country

United Kingdom

United States

United States

United Kingdom

United States

News Snippet

Citi partner Sharegain to launch automated securities lending platform for wealth managers

Citi has launched the first fully automated securities lending solution for wealth management firms they custody , in partnership with fintech firm Sharegain .

Citibank news: Google teams up with Citibank on mobile-first accounts - FairShake Consumer News

Citibank news : Google teams up with Citibank on mobile-first accounts .

Volante Extends Collaboration with Citi for Global ISO 20022 Migration.

NEW YORK , January 19 , 2021 -- Volante Technologies , the global leader in cloud payments and financial messaging , and Citi Ventures are deepening their longstanding relationship to accelerate the bank 's adoption of the ISO 20022 financial messaging standard across its global payments operations .

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Sources

1

1

2

10

10

Citibank Team

236 Team Members

Citibank has 236 team members, including current Chief Executive Officer, Nipendar Kochhar.

Name

Work History

Title

Status

Nipendar Kochhar

Chief Executive Officer

Current

Alan Boden

Senior Vice President

Current

Karen Floyd

Bank of America, Barclaycard, and Barclays Bank

Senior Vice President

Current

Duke Hassan

Senior Vice President

Current

Mike McCall

Senior Vice President

Current

Name

Nipendar Kochhar

Alan Boden

Karen Floyd

Duke Hassan

Mike McCall

Work History

Bank of America, Barclaycard, and Barclays Bank

Title

Chief Executive Officer

Senior Vice President

Senior Vice President

Senior Vice President

Senior Vice President

Status

Current

Current

Current

Current

Current

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