About Citibank
Citi is the only U.S. bank in Tanzania, where we have been operating since 1995.
Citi in Tanzania is part of the Citi East African network which includes Kenya, Uganda and Zambia.
Since opening our first branch in Dar es Salaam, our local network has increased substantially, making us a formidable competitor among local and international financial services providers.
We have had a significant involvement in Tanzania for many years in areas such as correspondent banking, trade finance and corporate finance.
Businesses
We are focused on trade, foreign investment, cash management and treasury services, all of which involve close collaboration with Tanzania’s leading banks. Moreover, we offer a range of banking services to companies including commercial finance, inter-bank transactions, investment services, deposits, cash management and electronic banking. We are also helping our corporate clients manage their finances to increase the value of their investments and finance their projects.
Citibank is the consumer division of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex. The U.S. branches are concentrated in six metropolitan areas: New York, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami
Our distinct global network of people, data and relationships creates a mindset that allows Citi to spot opportunities, manage risks and connect dots for our clients in ways that others simply cannot.
The City Bank of New York was founded on June 16, 1812. The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood. After Osgood’s death in August 1813, William Few became President of the bank, staying until 1817, followed by Peter Stagg (1817–1825), Thomas Smith (1825–1827), Isaac Wright (1827–1832), and Thomas Bloodgood (1832–1843). Moses Taylor assumed ownership and management of the bank in 1837. During Taylor’s ascendancy, the bank functioned largely as a treasury and finance center for Taylor’s own extensive business empire. Later presidents of the bank included Gorham Worth (1843–1856), Moses Taylor himself (1856–1882), Taylor’s son-in-law Patrick Pyne, and James Stillman (1891–1909).
In 1831, City Bank was the site of one of America’s first bank heists when two thieves made off with tens of thousands of dollars’ worth of bank notes, and 398 gold doubloons.
The bank also has the distinguishable history of financing war bonds for the War of 1812, serving as a founding member of the financial clearinghouse in New York (1853), underwriting the Union during the American Civil War with $50 million in war bonds, opening the first foreign exchange department of any bank (1897), and receiving a $5 million deposit to be given to Spain for the US acquisition of the Philippines (1899). In 1865, the bank joined the national banking system of the United States under the National Bank Act and became The National City Bank of New York. By 1868, it was one of the largest banks in the United States, by 1893 it was the largest bank in New York, and the following year it was the largest within the United States. It would help finance the Panama Canal in 1904. By 1906, 11 percent of the federal government’s bank balances were held by National City. National City at this time was the banker of Standard Oil, and the Chicago banking factions accused US Secretary of the Treasury Leslie Shaw of being too close with National City and other Wall Street operators. In 1907, Stillman, then the bank’s chairman, would intervene, along with J. P. Morgan and George Fisher Baker, in the Panic of 1907.
Between 1910 and 1911, the Department of State backed a consortium of American investors headed by Citibank to acquire control over the Banque Nationale de la République d’Haïti, which was the sole commercial bank of Haiti and served as the Haitian government’s treasury. Citibank then pressured the federal government to occupy Haiti, which it did in 1915. During the occupation, Citibank imposed a 30 million USD loan on the Haitian government, which was described by journalist George Padmore as transforming Haiti into an “American slave colony”.
When the Federal Reserve Act allowed it, National City Bank became the first U.S. national bank to open an overseas banking office when it opened a branch in Buenos Aires, Argentina, in 1914. Many of Citi’s present international offices are older; offices in London, Shanghai, Calcutta, and elsewhere were opened in 1901 and 1902 by the International Banking Corporation (IBC), a company chartered to conduct banking business outside the U.S., which was forbidden to U.S. national banks. In 1918, IBC became a wholly owned subsidiary and was subsequently merged into the bank. The same year, the bank evacuated all of its employees from Moscow and Petrograd as the Russian Civil War had begun, but also established a branch in Puerto Rico. By 1919, the bank had become the first U.S. bank to have $1 billion in assets.
As of March 9, 1921, there were four national banks in New York City operating branch offices: Catham and Phoenix National, the Mechanics and Metals National, the Irving National, and National City Bank.
Charles E. Mitchell, also called “Sunshine” Charlie Mitchell, was elected president in 1921. In 1929, he was made chairman, a position he held until 1933. Under Mitchell, the bank expanded rapidly and by 1930 had 100 branches in 23 countries outside the United States. The policies pursued by the bank under Mitchell’s leadership are seen by many people as one of the prime causes of the stock market crash of 1929, which led ultimately to the Great Depression.
In 1933, a Senate committee, the Pecora Commission, investigated Mitchell for his part in tens of millions of dollars in losses, excessive pay, and tax avoidance, later leading to his resignation. Senator Carter Glass said of him: “Mitchell, more than any 50 men, is responsible for this stock crash.”
On December 24, 1927, its headquarters in Buenos Aires, Argentina, were blown-up by the Italian anarchist Severino Di Giovanni, in the frame of the international campaign supporting Sacco and Vanzetti.
In 1940 and 1941, branches in Germany and Japan closed. In 1945, the bank handled $5.6 billion in Treasury securities for War and Victory Loan drives for the U.S. government.
In 1952, James Stillman Rockefeller was elected president and then chairman in 1959, serving until 1967. Stillman was a direct descendant of the Rockefeller family through the William Rockefeller (the brother of John D.) branch. In 1960, his second cousin, David Rockefeller, became president of Chase Manhattan Bank, National City’s long-time New York rival for dominance in the banking industry in the United States.
Following its merger with the First National Bank in 1955, the bank changed its name to The First National City Bank of New York, then shortened it to First National City Bank in 1962. It is also worth noting that the bank began recruiting at Harvard Business School in 1957, arranged the financing of the 1958 Hollywood film, South Pacific, and had its branches in Cuba nationalized in 1959 by the new socialist government, and has its first African-American director in 1969, Franklin A. Thomas.
The company organically entered the leasing and credit card sectors, and its introduction of US dollar-denominated certificates of deposit in London marked the first new negotiable instrument in the market since 1888. Later to become part of MasterCard, the bank introduced its First National City Charge Service credit card—popularly known as the “Everything Card”—in 1967.
In 1967, Walter B. Wriston became chairman and chief executive officer of the bank.
Citibank logo used from 1976 until 1999 in the United States, and internationally until 2002, designed by Dan Friedman from Anspach Grossman Portugal of New York.
In 1967, First National City Bank reorganized as a one-bank holding company, First National City Corporation, or “Citicorp” for short. However, the bank had been nicknamed “Citibank” since the 1860s, when City Bank of New York adopted it as an eight-letter wire code address. “Citicorp” became the holding company’s formal name in 1974, and in 1976, First National City Bank was renamed Citibank, N.A. The name change also helped to avoid confusion in Ohio with Cleveland-based National City Corp., though the banks never had any significant overlapping areas except for Citi credit cards issued in National City territory. In addition, at the time of the name change to Citicorp, in 1968, National City of Ohio was mostly a Cleveland-area bank and had not gone on its acquisition spree that would occur in the 1990s and 2000s. Any possible name confusion had Citi not changed its name from National City eventually became completely moot when PNC Financial Services acquired National City in 2008 during the subprime mortgage crisis.
In 1987, the bank set aside $3 billion in reserves for loan losses in Brazil and other developing countries.[36] In 1990, the bank established a subsidiary in Poland. In 1994, it became the world’s biggest card issuer.
Citibank Loan
Citibank lends property and cash loans at the rate you need, there are loans for entrepreneurs and small business owners who need to grow their businesses and capital according to their income. Citibank gives you the opportunity for a businessman & entrepreneur to borrow the amount of money you need. they also offer property and cash loans to government employees and companies click here so you can check the methods and criteria for getting a loan.
Citibank Address, Location and Contact Details
Citibank House
- Plot 1962, Toure Drive, Oyster Bay
- P.O. Box 71625
- Dar es Salaam
- Tanzania
- Tel: +255 22 2211200
- Email: [email protected]
- Website: http://www.citibank.co.tz
Job Vacancies, career and Internships at Citibank
NMB uses creative recruitment practices that ensure all applicants are carefully evaluated. Citibank Job vacancies are normally advertised through the Official Citibank Tanzania career website page which can be accessed through this link – http://careers.citigroup.com/
Find and apply for jobs advertised by Citibank by browsing the links listed below:
Citibank useful links
- Citibank website: http://www.citibank.co.tz
- Citibank job vacancies – careers page: http://careers.citigroup.com/
- Citibank Loan:
