Citibank

Foreign Bank Sector

“Banking with Global Expertise”

Citibank India, a wholly-owned subsidiary of Citigroup Inc. — one of the world's foremost global financial services institutions — has been present in India since 1902, making it one of the longest-serving foreign banks in the country. Citibank India operated a consumer banking business serving retail customers, high-net-worth individuals, and NRIs with savings accounts, fixed deposits, home loans, personal loans, and credit cards that were consistently rated among the best in class. Citibank India's credit card business was particularly distinguished, with premium cards like Citibank PremierMiles, Citibank Rewards, and Citibank Cashback being hugely popular among affluent Indians. In 2023, Citibank transferred its consumer banking business in India to Axis Bank as part of Citigroup's global strategy to exit retail banking in select markets. As a result, former Citibank retail customers are now served by Axis Bank. However, Citibank continues to operate its institutional banking business in India, serving corporates, multinationals, and financial institutions with treasury, trade finance, corporate lending, and investment banking services. The institutional Citibank India operations remain active and relevant for India's corporate banking market. For retail customers, the Citi brand lives on through the Axis Bank-Citi co-branded credit cards and the migration of customer relationships to Axis Bank's platform.