aneza1s Citibank - Wikipedia the ree encyclopedia On November 23, 2008, Citigroup was forced to seek federal financing to avoid a collapse similar to those suffered by its competitors Bear Steams and AIG. The U.S. government provided $25 billion and guarantees to risky assets to Citigroup in exchange for stock. This was one of a series of companies receiving financial aid from the government that began with Bear Stearns and peaked with the collapse of Lehman, AIG, and the GSE's, and the start of the TARP program. On January 16, 2009, Citigroup announced that it was splitting into two businesses. Citicorp will continue with the traditional banking business while Citi Holdings Inc. operates non-core businesses such as brokerage, asset management, and local consumer finance as well as managing a set of higher-risk assets. The split was presented as allowing Citibank to concentrate on its core banking business. |!9} 2010 to present On October 19, 2011, Citigroup agreed to $285 million civil fraud penalty.!2°! In 2013, Citibank was awarded Global Bank of the Year in The Banker's annual awards.(2!] Historical data Asset/Liability Ratio Net Income 22] CitiBank was the third-largest bank at the end of 2008 as an individual bank, 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 tr ate New York metropolitan area, Also the parent company of the other subsidiaries, 23] = Citibank Canada— One of Canad: longest-serving foreign banks, currently with 3,400 employees from coast to coast. = Citibank Texas, N.A. - The former First American bank 23] = Citibank (West), F.S.B. — The former Citicorp Savings (a savings and loan operating in California), ipuler wikipedia. orgwikitiibark a