Since its deregulation in the early 1980s, the Australian banking industry has become one of the world’s most mature and competitive banking environments.  The industry generates a gross operating income of $56.1 billion and is one of the largest employment sectors in the Australian marketplace. Citibank is one of the largest and oldest banks in the world and a significant player in the domestic retail market. As the new millennium approaches and world markets become more competitive, innovation and reputation will be crucial for survival.  Citibank Australia’s ability to utilise its extensive global network and international expertise will provide a solid foundation for success.
	Plenty of planning, good products and top people have made Citibank one of the most successful foreign banks operating in Australia today. Citibank’s approach to retail and corporate banking was always very different from its competitors. Talented staff came from a variety of different backgrounds, and management ensured that they focused on giving customers the best possible service. Both the retail and corporate operations have grown at unprecedented rates, targeting markets with value added, innovative products and services.  The CitiGold business, which offers a highly personalised service to select customers, has been a particular success. Citibank’s International Personal Banking is another area of strong growth. Increasing demand is largely due to the number of people familiar with Citibank’s reputation who are migrating from Asia to Australia. Citibank is still the only bank in Australia to offer the security of photographs on credit cards.  Citibank was also the first bank to offer a 24-hour, 7-day a week telephone banking service. Rated No 1 Foreign Exchange Bank every year for the last 20 years, Citibank’s capability in structuring solutions for customer’s specific rate exposures has made it the leading bank in the financial markets for both Foreign Exchange and Interest Rates. The preeminent foreign bank in Australia, Citibank has for many years been named as the Best Foreign Bank in Australia by both Euromoney Magazine and Australian Banking & Finance Magazine.
	Citibank, N.A., a wholly owned subsidiary of Citicorp, was established in 1812 in the United States, and now has over 3,400 branches and offices in 100 countries. Citibank, now part of the recently formed Citigroup, is one of the largest financial services organisations employing over 160,00 people worldwide and is the largest bank issuer of credit cards in the world. As the first US Bank to establish operations in Asia in 1902, Citibank has the most extensive presence in the region of any fi-nancial institution, with over 200 branches and offices in 21 countries. In 1977, Citibank began operations in Australia by purchasing the Industrial Acceptance Corporation, a Melbourne based finance provider.  The group obtained a trading bank authority in 1985 and has become one of Australia’s leading international banks, with more than $10 billion in assets and 1500 employees. The majority of Citibank customers use remote access for their banking needs.  The future is about bringing banking to where the consumer is.  Citibank accounts can be easily accessed through its network of 7 branches throughout Australia, over 4,700 ATMs, 2700 Australia Post outlets via the giroPost facility,  CitiPhone Banking, Citibank’s 24 hour, seven-days-a-week telephone banking facility and CitiDirect, Citibank's Internet banking. Citibank has been a leader in banking innovation with a vision to grow its customers’ business by understanding the local, regional and global issues through its extensive consumer and corporate Asia-Pacific banking network.
	Citibank offers a comprehensive range of retail and corporate banking products and services.  Citibank Australia is comprised of two core business groups - the Consumer Bank and the Corporate Bank. Citibank’s Global Consumer Bank offers customers a complete range of personal banking services, including personal and business mortgage finance, personal loans, credit cards, investment and deposit accounts, Visa TravelMoney and international banking investments.  Life insurance and managed funds are offered through Citibank’s subsidiary, Citicorp Life. Citibank’s retail products are designed to be innovative, flexible and tailored for the individual needs of the consumer.  A prime example is Citibank’s Mortgage Power, Australia’s first revolving line of credit loan facility which provides customers with an opportunity to create wealth.  Citibank also offers a broad range of credit card options, from Silver and Gold Visa or MasterCards through to affinity cards, such as the Golf Link MasterCard and the Football Visa Card. The Citibank website provides the latest interest rates, product information, news and sport. Customers now have the ease and convenience of conducting some of their banking transactions on line, creating one of the most diverse and user friendly sites available. The Citibank Global Corporate Banking business meets the complex financial needs of Australia’s major corporations, multinationals, financial institutions and government entities.  The Corporate Bank includes treasury, transaction banking services, investment management, portfolio lending, structured products and loan syndication. Citibank’s world class treasury has a strong reputation for innovative foreign exchange and interest rate hedging strategies, with a long term track record for successful trading and local expertise.  A leading player in precious metals and a pioneer in commodity derivatives, Citibank Australia utilises its global network to the advantage of its customers.
	Citibank recently launched several exciting and innovative products. Business Power 2-in-one provides a flexible facility that combines personal and business finance for small business owner/managers and the self-employed. In 1998, Citibank offered the first Mortgage Minimiser Credit Card linked to Citibank HOMECREDIT, a revolving line of credit which allows the customer to pay their home loan off up to 17 years sooner.  Citibank also introduced Mortgage PLANS to its revolving line of credit mortgage products.  With these, consumers can choose between different combinations of interest rates, fees and number of free transactions. Citibank launched its Football Visa Card and its Golf Link MasterCard in 1998.  The Football card was Australia’s first Credit Card with a specially tailored football Rewards program and is endorsed by the Carlton, Collingwood, Geelong and St Kilda clubs as their official Credit Card.  The Golf Link card was the first Australian Credit Card designed for golfers and endorsed by the Australian Golf Union as their official credit card.  Additionally, Citibank has recently enhanced its Credit Card Rewards program by partnering with one of Australia’s leading airlines.  Offering comprehensive travel insurance, frequent flyer points and a range of Rewards items from blenders to teddy bears, Citibank has one of the most unique and diverse Credit Card Rewards programs available. Citibank has leveraged its leading position in collections and payments to establish a new business: Integrated Process Solutions.  This joint venture offers full back office outsourcing services to corporations and insurance companies through order-to-remittance and procurement-to-pay-ment processes. The end of 1998 brought about two more exciting partnerships.  In a bid to increase its worldwide brand ownership of the highly regarded Diners Club Card, Citigroup announced the purchase of the 77% Australian share it didn’t already own. An example of Citigroup’s appetite for growth in Australia and the Asia-Pacific region, this makes it the only company with a prominent status in both the credit card and charge card markets. Citibank will also sponsor the New South Wales Rugby Union team, the Waratahs, for the next three years.  The sponsorship will partner Citibank’s Consumer and Corporate banks, MasterCard and Salomon Smith Barney.  Like Citibank, the Waratahs have a proud history, strong traditions and an international reputation.  The sponsorship also supports the youth and club levels.
	Citibank continuously strives to build personalised and long term relationships with customers through an extensive direct marketing program.  Communicating on a regular basis by means like statement inserts, Citibank promotes its new and innovative bank products.  The Citibank Club loyalty program offers value and variety by providing members with exclusive deals on travel, entertainment and a range of special goods and services. An exclusive and unprecedented partnership with Elton John made Citibank the title and sole sponsor of Elton John’s 1998 tour.  In Australia, Citibank granted the wishes of 10 seriously ill youths by taking them to an Elton John/ Billy Joel concert and backstage to meet Elton John. Citibank has a strong commitment to the community, focusing much of its effort on education initiatives.  In 1998, over 100 Citibank staff gave up their bank holiday to take 300 school children to Taronga Park Zoo.  In 1999, Citibank will proudly sponsor the Western Suburbs Branch of Learning Links, which provides educational services for children with learning difficulties and their families.
	Citibank has established a distinctive position in the Australian marketplace.  Known for its globality, Citibank has a reach across 100 countries which offers unparalleled access to its customers. It brings worldwide innovations to Australia and Australian innovations to the world. Citibank is also seen as a pioneer in Australia with the establishment of landmark corporate deals, such as the first Corporate Loan Securitisation - making Citibank the first Australian institution to securitise its own mortgage portfolio.  Citibank developed the first accounts payable outsourcing product in the Australian market. In addition, Citibank is known for its high standards of customer service. Personal Bankers consistently deliver the highest standard of service excellence. Citibank has a reputation for added value - the focus of product innovations based on a thorough understanding of consumer needs.  Products deliver more than functionality.  They make better financial sense, like the Photocard, a credit card with the added security and instant recognition that only a photo can provide. The solid reputation which Citibank has built over the years provides security for consumers. Consumers feel confident banking with Citibank.

CITIBANK .
		Citigroup is one of the largest financial institutions in the world.
		Citigroup is the largest bank issuer of credit cards in the world.
		Citibank was the first bank to offer 24 hour, 7 days a week telephone banking in Australia.
		Citibank is the only foreign bank in Australia with a substantial presence in both the retail and commercial banking markets.