Citibank Australia was the division of Citigroup that operated in Australia. In June 2022, the division was sold to National Australia Bank.[1]
 | |
| Company type | Defunct |
|---|---|
| Industry | Banking |
| Founded | 1985 |
| Fate | Acquired by National Australia Bank |
| Headquarters | Sydney, Australia |
Area served | Australia |
Key people | Marc Luet (CEO) |
History
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.[2]
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.[3]
In 1999, Diners Club Australia was acquired by Citibank.[4]
In 2001, Citigroup Centre, Sydney was completed, 50% owned by GPT Group.[5]
In June 2022, Citigroup sold its Australian consumer banking division to the National Australia Bank (NAB), for A$1.2 billion (US$882 million).[1][6][7]
