CitibankAustralia was opened in 1985 and was one of the first foreign banks to be granted a banking licence in Australia, besides being one of the largest international banks in the country. Since 2001, the national headquarters have been located at the Citigroup Centre, Sydney. Citibank currently has major centres in Melbourne, Perth, and Brisbane and employs a total of about 1,200 Australians. The parent company, Citigroup, has around a million customers in Australia and New Zealand, along with about 900 local corporate and institutional clients. David Livingstone is the Chief Executive Officer.
Citibank Australia comprises the consumer group division of its parent company, Citi Australia. The other two divisions of Citi are markets and banking, and wealth management.
Citi Global Consumer Group: Under this division fall Citibank and Diners Club. The Diners Club Card is a charge card started in 1950, the first of its kind.
Citi Markets and Banking: This division of Citi performs a multitude of functions, including underwriting equity and debt, providing advice about mergers and acquisitions and providing services in cash management, custodial, foreign exchange, trade and treasury.
Retail banking. Citibank rapidly expanded its retail banking in May 2011, opening new branches in most major shopping centres such as Castle Towers, and the QVB. These branches do not offer Telling services, instead these are looked after by 3rd parties such as the NAB, and Australia Post's Bank@Post, their older retail branches such as the one located in the citigroup centre also offer telling services.
Citibank Australia offers its customers home loans and personal loans, savings accounts, credit cards and insurance. It is also one of the biggest providers of superannuation funds in Australia.
Citibank Australia has various financial education and environmental programs to serve local communities in Australia. Its program Making Cents is geared towards helping parents and teachers instruct children about the basics of money management. Another program funded by Citibank in Australia is Hip Pocket, a workshop for teenagers in Year 10 and 11 which helps them to understand finances and be educated consumers. Finally, Citibank Australia has provided funding for an organisation called Learning Links with a program called Counting for Life, which helps children with difficulties in learning math. As part of its Corporate social responsibility Citibank Australia has engaged in various initiatives such as reducing its energy use and paper use; supporting companies that use alternative energy, and undertaking research on the impact of climate change on trade and industry. It has become an “Action for Climate Change” partner with Conservation Volunteers Australia, which involves having events for Citibank employees in which they are educated about climate change, opening up opportunities for employees to take part in conservation efforts, and providing funding for tree planting. Citibank Australia also supports a children’s hospice in New South Wales called Bear Cottage, as well as The Shepherd Centre, a centre for hearing impaired children. It is part of the Australian Business Community Network, which helps public schools through initiatives such as mentoring programs and career fairs. Citibank Australia is a major sponsor of the Sydney SwansAFL club.
