Citibank Australia
Australian subsidiary of Citigroup From Wikipedia, the free encyclopedia
Citibank Australia was the division of Citigroup that operated in Australia. In June 2022, the division was sold to National Australia Bank.[1]
 | |
| Company type | Division |
|---|---|
| Industry | Banking |
| Founded | 1985 |
| Fate | Acquired by National Australia Bank |
| Headquarters | Sydney, Australia |
Area served | Australia |
Key people | Mark Woodruff (CEO) |
| Parent | Citigroup |
History
In 1916, National City Bank (now Citibank) applied to open an office in Australia.
In 1977, Citicorp Australia Holdings was formed and acquired 100% of Industrial Acceptance Corporation.[2]
In 1985, Citibank was one of a group of 16 foreign banks to be granted the first foreign banking licences in Australia. It came after decades of mistrust between the Australian labour movement and large banks.[3]
In 1999, Diners Club Australia was acquired by Citibank.[4]
In 2001, Citigroup Centre, Sydney was completed, 50% owned by GPT Group.[5]
In June 2022, Citigroup sold its Australian consumer banking division to the National Australia Bank (NAB), for A$1.2 billion (US$882 million).[1][6][7]
See also
References
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