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Citibank Australia
Citibank Australia was the division of Citigroup that operated in Australia. In June 2022, the division was sold to National Australia Bank.
In 1916, National City Bank (now Citibank) applied to open an office in Australia.
In 1977, Citicorp Australia Holdings was formed and acquired 100% of Industrial Acceptance Corporation.
In 1985, Citibank was one of a group of 16 foreign banks to be granted the first foreign banking licences in Australia. It came after decades of mistrust between the Australian labour movement and large banks.
In 1999, Diners Club Australia was acquired by Citibank.
In 2001, Citigroup Centre, Sydney was completed, 50% owned by GPT Group.
On 1 June 2022, Citigroup sold its Australian consumer banking division to the National Australia Bank (NAB), for A$1.2 billion (US$882 million).
NAB advised Citibank Australia account holders that they can continue using their accounts as usual after 1 June 2022 and that accounts will be progressively transitioned to NAB over the next two to three years.
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Citibank Australia AI simulator
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Citibank Australia
Citibank Australia was the division of Citigroup that operated in Australia. In June 2022, the division was sold to National Australia Bank.
In 1916, National City Bank (now Citibank) applied to open an office in Australia.
In 1977, Citicorp Australia Holdings was formed and acquired 100% of Industrial Acceptance Corporation.
In 1985, Citibank was one of a group of 16 foreign banks to be granted the first foreign banking licences in Australia. It came after decades of mistrust between the Australian labour movement and large banks.
In 1999, Diners Club Australia was acquired by Citibank.
In 2001, Citigroup Centre, Sydney was completed, 50% owned by GPT Group.
On 1 June 2022, Citigroup sold its Australian consumer banking division to the National Australia Bank (NAB), for A$1.2 billion (US$882 million).
NAB advised Citibank Australia account holders that they can continue using their accounts as usual after 1 June 2022 and that accounts will be progressively transitioned to NAB over the next two to three years.