Citibank - Subsidiaries

Subsidiaries

According to the Citigroup website, until October 2006, Citibank ran the following subsidiaries:

Citibank, N.A.(National Association) – The "original" Citibank, primarily doing business in New York State and the tri-state New York metropolitan area. Also the parent company of the other subsidiaries.
Citibank Canada – One of Canada's longest-serving foreign banks, currently with 3,400 employees from coast to coast.
Citibank Texas, N.A. – The former First American bank.
Citibank (West), F.S.B. – The former Citicorp Savings (a savings and loan operating in California), as well as the former California Federal Bank and Golden State Bank.
Citibank, F.S.B. – The primary Citibank subsidiary serving all other states, based in Chicago.
Citibank Banamex USA – Formally California Commerce Bank, Banamex's U.S. banking division.
Citibank (South Dakota), N.A. – A credit card and lending-only bank based in Sioux Falls, South Dakota, including the former Associates National Bank.
Universal Financial Corp. – A credit card bank, purchased in 1997, that manages the AT&T Universal Card.

On October 1, 2006, a massive re-organization designed to streamline the various Citibank banking charters occurred. Citibank, N.A. absorbed the following divisions, with its headquarters for FDIC purposes being its Paradise Road Las Vegas, Nevada branch.

Citibank, FSB
Citibank (West), FSB
Citibank, Texas, N.A.
Citibank Delaware
Citibank Banamex USA
Citicorp Trust, N.A. (California)

The following divisions were consolidated into Citibank (South Dakota), N.A., with its headquarters for FDIC purposes being in Sioux Falls, South Dakota.

Citibank, Nevada, N.A.
Citibank USA, N.A.
Universal Financial Corp.
Citibank South Dakota, FSB

On March 29, 2011, Citibank, N.A. and Citibank (South Dakota), N.A. announced their intentions to further consolidate their banking charters by announcing a merger which was finalized on July 1, 2011. The surviving FDIC charter was that of Citibank, N.A. which, as part of the merger, moved its headquarters to that of Citibank (South Dakota), N.A.'s in Sioux Falls.

In 2005, Macy's, Inc. under its former corporate name Federated Department Stores, sold its consumer credit portfolio to Citigroup, reissuing its cards under the Federated-Citigroup Alliance name Department Stores National Bank (DSNB) and allowing Federated to continue servicing the credit accounts from its Financial, Administrative and Credit Services Group (FACS Group Inc.). The cards involved are Macy's and Bloomingdale's.

Citibank's private-label credit card division, Citi Commerce Solutions, issues store-issued credit card for such companies as: Sears, ConocoPhillips, ExxonMobil, The Home Depot, Staples, Shell Oil, and others.

The German branch, the Citibank Privatkunden AG & Co. KGaA was sold in July 2008 to the French Crédit Mutuel Group. On February 22, 2010 it was renamed to Targobank.