Citibank Canada
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Citi Canada | |
Type | Subsidiary |
Industry | financial services |
Founded | 1919, Toronto, Canada |
Headquarters | Citigroup Place
123 Front Street West, Suite 1900 Toronto, Ontario M5J 2M3 |
Key people | CEO: John Hastings (Jul 6, 2010–) |
Total assets | |
Number of employees | (Full-time equivalent, 2020) 1,700 |
Website | citigroup.com/canada/en |
Citibank Canada, operating as Citi Canada, is the Canadian subsidiary of the American multinational financial services corporation Citigroup. Citi Canada is headquartered in Toronto, with offices in Calgary, London, Ontario, Montreal, Mississauga, Ontario, and Vancouver.[1]
History[]
Citi Canada's Schedule 2 (foreign-owned, deposit-taking), under the Bank Act of Canada, subsidiary Citibank Canada is a member of the Canadian Bankers Association (CBA) and a member[2] of the CDIC, a federal Crown corporation that insures deposits to applicable limits and across deposit categories.[3]
Up until the finalization of the sale of its consumer finance subsidiary, , to affiliates of private equity firms J.C. Flowers & Co. and Värde Partners on April 3, 2017, the company engaged in consumer retail loans principally to sub-prime and borrowers.[4] Both in the years preceding and subsequent to the sale transaction, , which was renamed post-close, had 200 branches in Canada.[4]
Products & Services[]
The company provides securities trading, cash management, treasury, trade financing, custodial services, clearing, securities financing, depositary receipt, trust services, corporate banking, investment banking, private banking, and the private-label credit card of The Home Depot Canada.[5] It had previously issued various MasterCard credit cards until Citi Canada sold that division (named Citi Cards Canada, Inc.) to CIBC in a $2.1 billion CAD deal in 2010.[6]
See also[]
References[]
- ^ "Citi | North America | Canada". www.citigroup.com. Retrieved 2019-09-07.
- ^ "List of Member Institutions". Canada Deposit Insurance Corporation. Retrieved 27 August 2019.
- ^ "How deposit insurance works". Canada Deposit Insurance Corporation. Retrieved 27 August 2019.
- ^ Jump up to: a b "Introducing Fairstone Financial Inc., formerly CitiFinancial Canada, providing responsible lending solutions to Canadians". Fairstone. Fairstone Financial, Inc. 3 April 2017. Retrieved 27 August 2019.
- ^ "Citi Canada". Retrieved 27 August 2019.
- ^ "CIBC to acquire $2.1 billion Canadian MasterCard portfolio from Citigroup". Canada Newswire. CISION. 14 June 2010. Retrieved 27 August 2019.
External links[]
- Citigroup
- Banks of Canada
- Banks established in 1919
- Banks established in 1954
- Companies based in Toronto
- Canadian subsidiaries of foreign companies
- Bank stubs