Citi's Relentless Quest for Growth
Citigroup has long played a central role in the financial story of the United States. Chartered in 1812 with $2 million of capital as City Bank of New York, Citigroup became a leading innovator in financial services -- offering customers everything from personal bank accounts and credit cards to investment banking and wealth management. Now the world's largest financial services network, Citigroup has also had its share of scandals.
1894: Becomes the largest American bank.
1918: First American bank to surpass $1 billion in assets.
1921: First major U.S. bank to offer compound interest on savings accounts.
1928: First major American bank to offer unsecured personal loans to its depositors.
1929: Seeks cash infusion from federal government after stock market crash.