Heritage

A Heritage of Enabling Growth and Economic Progress

With more than 210 years of experience making a positive financial and social impact, we are proud of our past contributions and excited about our future. We invite you to explore Citi’s key historical milestones from 1812 through today.

1800-1819

Our beginnings

1812

A new bank born in New York

In 1811, a group of merchants takes the first steps towards setting up a new bank to help New York compete with rivals Philadelphia, Boston, and Baltimore

1812

Bank wins depository status

City Bank is rewarded for helping finance the U.S. government's effort in the War of 1812 against Britain

1820-1859

Picking up steam in New York

1824

Quaker mariners at the helm

Quaker merchant Isaac Wright, a one-time board director and bank president, was a leading importer of British textiles. He founded the Black Ball Shipping Line.

1841

City Bank, provider of liquidity

City Bank, the eighth-oldest bank in New York, and thus designated no. 8 in the clearing house, was well placed to shield clients during panics.

1860-1899

Early expansion

1865

A banker’s bank: National charter and expansion of services

In July 1865, City Bank converted its state charter to a national one, taking on the new name of National City Bank of New York.

1866

Transatlantic Cable

Moses Taylor was one of the original investors in the New York, Newfoundland, and London Telegraph Co., founded in 1854 by Cyrus West Field, a successful young businessman who is credited with laying the first transatlantic cable.

1893

National City Bank forges investment bank alliance

A railroad refinancing opens up new strategic opportunities

1897

New forex department for clients with operations abroad

Foreign business requires a new kind of service; correspondent links forged overseas

1900-1919

Heading abroad

1902

IBC pioneers trade finance in Asia

A Connecticut state-chartered bank caters to companies doing business in the Far East

1904

New opening in Panama

On August 17, 1904, at the U.S. government's request, IBC opened a branch in Panama City, followed two years later by one in Colón, on the Atlantic side of the young country.

1911

Bonds go to the masses

The National City Company, an affiliate of the bank, breaks the stereotype and adopts modern methods in the sale of bonds

1914

Business blooms in Latin America

National City Bank's first big push overseas reflects the growth in international trade as war breaks out in continental Europe

1920-1945

Expanding the branch network and meeting challenges

1921

The New York branch network expands

Through mergers, National City Bank acquires a number of branches and builds more, becoming a force in retail banking

1933

Banking in the Great Depression

The reassuring style of National City Bank's new chairman, James Perkins, suits the uncertain mood of the times

1939

War returns to Europe

The early stages of World War II pose challenges for Citibankers in Paris and London, as they face invasion and aerial bombardment

1941

Women fill gap

By the end of 1942, women accounted for 43 percent of the bank's workforce of almost 10,000, up from 23 percent at the end of 1940.

1946-1959

A pioneer of the changing times

1948

Landmarks in transportation finance

Innovative thinking within the bank contributes to a revolution in the shipping industry, and is applied to big projects in other sectors

1948

Bank supports Marshall Plan

For three years immediately after the end of World War II, National City Bank operations in Europe were confined to two branches in London.

1955

Focus on Middle East and Africa

In the mid-1950s, looking to the future, the bank extends its operations beyond Europe and Asia to new areas of economic promise

1960-1979

Evolving with the modern world

1961

Negotiable certificates of deposit

Riding the "wave of the future," First National City Bank becomes the leading bank in the New York metropolitan area, and top bank overseas

1977

Focus shifts to retail banking

The business is transformed as consumer banking becomes a priority, and the ATM delivers 24-hour service

1980-2011

A time of transformation

1982

Citigold: spreading affluence

The Citigold service was inaugurated in Hong Kong in 1982.

1982

Sowing the seeds for a modern private bank

Citi's private banking roots date back to the 1820s when a predecessor company of today's Citi Trust started managing the accounts of wealthy British and other European families domiciled in the United States.

1998

Momentous encounter leads to merger

The leaders of two of the United States' financial services giants see the potential in a strategic merger, and Citigroup is born

2007

Amid economic turmoil, Citi recapitalizes

As crisis hits the financial world, the U.S. government backs Citi

2012-2023

Our company today

2012

200 Years Citi

In 2012, Citi celebrated our 200th anniversary, which provided an opportunity to reflect on two centuries of enabling progress.

2013

Citi Bike

Citi Bike Launches, Setting Standard for U.S. Bike-Share Programs

2014

Pathways to Progress

Jump-Starting Career Readiness for Half a Million Young People