Citibank in Australia has provided financial services in the country since 1985 to clients that range from consumers, corporations, institutions, and governments. However, its history in Australia began in 1971, when the First National City Bank bought about 22% of the Industrial Acceptance Corporation (IAC). Six years later, Citicorp Australia Holdings was formed and then gained total ownership of IAC. In 1985, Citibank became the first bank in Australia to be granted a full banking licence.
Today, Citibank combines its local expertise with its worldwide consumer banking network to provide a range of financial services to its clients, including mortgage, deposit accounts, insurance, investments, and credit cards.
Citibank offers a wide range of products and services that are aimed at helping customers find a solution that suits their needs. These include:
1. Banking. The company has banking solutions for individuals as well as for businesses. There are also fee free everyday accounts, savings accounts to save up for their future, term deposits, and foreign currency accounts under this service. Customers may also avail of international services, or choose from packages that combine several products into one.
2. Home loans. This is designed for home buyers who wish to buy a property to live in or for investment purposes, as well as those looking to refinance their current mortgage, so they can pay off their loan sooner, or make their monthly repayments more affordable.
3. Insurance. Under this are different insurance services that provide cover for customers from unforeseen events, which could prevent them from repaying their debts, or living their lives to the fullest.
4. Investments. Those who wish to grow their wealth or to simply start building it can choose Citibank as their trusted partner. Included here are superannuation, structured investments, foreign currency accounts, managed funds, and term deposits.