Citibank Canada
Encyclopedia
Citibank Canada is a unit of Citigroup
of New York City
. The Canadian
unit has been operating since 1954, with Canadian headquarters in Toronto
. There are also offices in Montreal
, Calgary
, London, Ontario
and Vancouver
.
Following the merger of Toronto-Dominion Bank
and Canada Trust
, Citibank bought Canada Trust's MasterCard
business and clients.
In June 2010, CIBC said it has signed a deal to buy a $2.1-billion credit card portfolio from Citigroup
’s Citibank Canada Master Card business.
(CBA) and registered member with the Canada Deposit Insurance Corporation
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of MasterCard
.
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
of New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. The Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
unit has been operating since 1954, with Canadian headquarters in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
. There are also offices in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, Calgary
Calgary
Calgary is a city in the Province of Alberta, Canada. It is located in the south of the province, in an area of foothills and prairie, approximately east of the front ranges of the Canadian Rockies...
, London, Ontario
London, Ontario
London is a city in Southwestern Ontario, Canada, situated along the Quebec City – Windsor Corridor. The city has a population of 352,395, and the metropolitan area has a population of 457,720, according to the 2006 Canadian census; the metro population in 2009 was estimated at 489,274. The city...
and Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
.
Following the merger of Toronto-Dominion Bank
Toronto-Dominion Bank
The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the...
and Canada Trust
Canada Trust
CT Financial Services Inc. was a trust company that was founded in London, Ontario and later had its headquarters in Toronto, Ontario and operated in Canada through subsidiaries including Canada Trustco Mortgage Company and The Canada Trust Company...
, Citibank bought Canada Trust's MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
business and clients.
In June 2010, CIBC said it has signed a deal to buy a $2.1-billion credit card portfolio from Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
’s Citibank Canada Master Card business.
Services
Citibank Canada offers services in:- Investment and corporate banking
- Capital services
- Credit services sold to CIBC
- Online banking Closed
- Citigroup Technology Center in Matheson Blvd in Mississauga sold to L&T Infotech Dec 2010
- Citibank Canada Capital Markets Technology Center in Mississauga
Membership
Citibank Canada is a member of the Canadian Bankers AssociationCanadian Bankers Association
The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
(CBA) and registered member with the Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
.