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1918, IBC became a wholly owned subsidiary and was subsequently merged into the bank.

By 1919, the bank had become the first U.S. bank to have US$1 billion in assets.[citation needed ]

Charles E. Mitchell was elected president in 1921 and in 1929 was made chairman, a position

he held until 1933. Under Mitchell the bank expanded rapidly and by 1930 had 100 branchesin 23 countries outside the United States. The policies pursued by the bank under Mitchell's

leadership are seen by historical economists as one of the prime causes of the stock market

crash of 1929, which led ultimately to the Great Depression.[citation needed ] In 1933 a Senate

committee, the Pecora Commission, investigated Mitchell for his part in tens of millions dollars

in losses, excessive pay, and tax avoidance. Senator Carter Glass said of him: "Mitchell more

than any 50 men is responsible for this stock crash."[4]

On December 24, 1927, its headquarters in Buenos Aires, Argentina, were blown up by

the Italian anarchist Severino Di Giovanni, in the frame of the international campaignsupporting Sacco and Vanzetti.[citation needed ]

In 1952, James Stillman Rockefeller was elected president and then chairman in 1959,

serving until 1967. Stillman was a direct descendant of the Rockefeller family through

the William Rockefeller (the brother of John D.) branch. In 1960, his second cousin, David

Rockefeller , became president of Chase Manhattan Bank, National City's long-time New York

rival for dominance in the banking industry in America.[citation needed ]

Why choose Citibank?

 Access

You get easy access to your accounts—online, by phone, and through our worldwide

network of ATMs and branches.

Experience the power.

Open a Citibank account and you're opening the door to worldwide account access, anaward-winning web site, relationship pricing, and the convenience of managing all your accounts in one place.

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Control 

Get cash when you need it with a variable-rate credit line or a fixed-rate personal loan.

Apply online and find out in minutes if you're approved.

Personal Lines & Loans at-a-glance

Whether you want a line of credit you can use on demand, a lump sum for that dreamvacation, or overdraft protection for your checking account — there's a line or loan thatmeets your needs. 

Convenience

You can do almost everything you need to online—pay bills, make transfers, view your

balance, see your statement, and more.

Security 

Your accounts are protected with advanced technologies and services including 128-bit

encryption and online fraud protection. Learn more

Citibank at Work brings the bank to your workplace.

With a global outlook, we have a particular understanding of your needs and can providebanking products and services to match your lifestyle at preferential terms.

At our one-stop shop, you benefit from:

a choice of Bank Accounts to suit your needs and park your assets

a Credit Card that complements your lifestyle and rewards you as you spend*

a Loan that helps turn your dreams into realities*

a personalized service that acknowledges your true worth - we have it all!

Banking

On line Banking with bill pay

CheckingSaving and Money Markets

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IRA’S and Rollover Certificates of DepositMobile Banking

Credit Cards

• Most Popular Credit Cards

• Low Interest Credit Cards

• Rewards Credit Cards

• ThankYou® Credit Cards

• Student Credit Cards

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See all

Lines & Loans

• Home Equity Line of Credit

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• Student Loans

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• Business Banking

• Business Credit Cards

• CitiBusiness® Online

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Investing

• Citi Personal Wealth Management

One of the problem in citbank is phone banking

What is CitiPhone Banking®?

It's a FREE1 service that lets you do your banking by phone. In fact,you can use CitiPhone Banking to do many of the same things youcan do online or at a Citibank Financial Center 2. Here's a quickrundown of what CitiPhone Banking offers.

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How it works

To use CitiPhone Banking, just call the number on the back of your

Citibank® Banking Card and enter one of the following:

• 1.Your Citibank Banking Card number (press 1).

• 2. Your Social Security Number or Individual Taxpayer ID(press 2).

• 3. Your account number (press 3).

Next, enter your telephone personal ID code (TPIC). If you don'thave one, stay on the line and Customer Service will help you setone up.

CostsCitiPhone Banking is FREE.1

If you pay bills by speaking with a representative (as opposed tousing the automated phone service), it's $4.95 per month forunlimited payments.

• You can bypass the CitiPhone Banking recording using thisquick guide.

• You can reset your telephone access code online at anyCitibank ATM or by calling the number on the back of yourCitibank®Banking Card.

• When outside the U.S., you can access CitiPhone Banking bycalling the international toll-free number on the back of your Citibank® Banking Card.

Regular account fees apply. In addition, there may be fees for

services accessed via CitiPhone Banking®, such as staff-assisted billpayments, checkbook reorders, and stop payment requests.

CitiPhone Banking will not permit you to transfer funds if you providean incorrect access code, attempt to transfer an amount greater thanthe available balance in the source account, or if the transfer exceedsthe number allowed for a particular account.

 Your accounts are a call away.

Not near a computer? Then use CitiPhone Banking®to access your accounts.

You can make transfers, pay bills, get your balances — you can even hear asummary of your ThankYou® Points.

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Phone banking should be simplified as follows:

1.Itshould be easier 2.It should not be time consuming3.Caller should not hold for long time to speak to operator 4.It is difficult to operate if client is illiterate.

Other related problems are lower rate of interest in the fixed Deposit 

If your appetite for risk is minimal, your banker can advise you on timedeposits (also known as fixed deposits) as forms of investment. There are variouskinds of time deposits available in different tenures and currencies. You lock your money in for a fixed amount of time at a fixed rate of interest. Upon maturity of thetime deposits, you can withdraw your principal sum plus the interest earned.

Foreign currency time deposits work just like ordinary time deposits, except theyare not in local currency. The element of risk is present because exchange ratecan go up or down.

Term Deposits are a great way to secure higher rates of interest, if you don't needimmediate access to your funds. Citibank's range of Term Deposits offer:

• Competitive interest rates, with interest calculated daily• Tiered interest rates - higher rates available for larger investment amounts• A wide range of terms varying from 8 days to 5 years• An innovative Ladder Term Deposit - your rate steps up during your term• No up-front or account keeping fees when held to maturity

Consumer Term Deposit

• Interest calculated daily and paid either annually or at maturity• Terms from 1 month to 5 years• Minimum investment $10,000•

Ladder Term Deposit

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• Interest calculated daily paid at each rate step and then at maturity• 12 month term only• Minimum investment $10,000

Money Market Term Deposit

• Interest calculated daily and paid at maturity only• Terms from 8 days to 12 months• Minimum investment $100,000

Some of the major bank brands include Suntrust, Compass, etc. These major banks are really accredited and attested to bereliable banks, especially in this very delicate field of online

and phone banking. You might find that the options for phonebanking are catered usually on a personal account level and noton a corporate one. Corporate accounts are still encouraged tohave face to face correspondence given the nature and scope of the business transactions involved. Web sites and brochures of major banks such as these will also clue you in with the kind of information and transaction that you can enjoy over the phoneand through the Internet, so it might be a good idea to have someform of comparison of branches before you make a final decision.

Scope of the study-A primary criteria in your search for the rightmajor bank for phone banking purposes would be the location. Forexample, Compass is quite accessible to Massachusetts residents,but if you are from another state, you might find this too taxing. There will still be instances that you need to have personalappearance before the branch, as certain transactions cannot bedone over the phone. If you are not to speak strictly, you can openan account in any branch if you will just be making transactionswithin the bounds of phone banking. But just to be safe, you muststill have an accessible office or branch to visit in case problemsemerge.

Most of the major banks provide you with the option to link youraccount to your cell just so you will not have to keep on punchingnumbers repeatedly (as is the common practice for phonebanking). The convenience of no longer waiting in the long queueand just updating your account details from home is a majorfactor that has people clamoring for this feature in banks. But if you are really still adamant about divulging your account detailsover the phone for fear of identity theft, nothing beats thegood old safe method of doing it the old-fashioned way.

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Recent losses and cost cutting measures

Citi reported losing $8–11 billion several days after Merrill Lynch announced that it

too had been losing billions from the subprime mortgage crisis in the UnitedStates.

On April 11, 2007, the parent Citi announced staff cuts and relocations.[8]

On 4 November 2007, Charles Prince quit as the chairman and chief executive of 

Citigroup, following crisis meetings with the board in New York in the wake of 

billions of dollars in losses related to subprime lending.

Former United States Secretary of the Treasury Robert Rubin has been asked to

replace ex-CEO Charles Prince to manage the losses Citi has amassed over the

years of being over-exposed to subprime lending during the 2002–2007 surge in

the real estate industry.

In August 2008, after a three-year investigation by California's Attorney

General Citibank was ordered to repay the $14 million (close to $18 million

including interest and penalties) that was removed from 53,000 customers

accounts over an 11-year period from 1992 to 2003. The money was taken under 

a computerized "account sweeping program" where any positive balances from

over-payments or double payments were removed without notice to the customers.

[9]

On November 23, 2008, Citigroup was forced to seek federal financing to avoid a

collapse, in a way similar to its colleagues Bear Stearns and AIG. The U.S.

government provided $25 billion and guarantees to risky assets to Citigroup in

exchange for stock. This was the latest bailout in a string of bailouts that began

with Bear Stearns and peaked with the collapse of the GSE's, Lehman, AIG and

the start of TARP.

On January 16, 2009, Citigroup announced that it was splitting into twocompanies. Citicorp will continue with the traditional banking business while Citi

Holdings Inc. will own the more risky investments, some of which will be sold to

strengthen the balance sheet of the core business, Citicorp. The idea behind

splitting into two companies is so Citigroup can dump "the dead weight" on Citi

Holdings, allowing the prime assets of Citicorp to operate away from that of the

toxic assets.[10]

Historical data

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Asset & Liability

Asset/Liability Ratio

Net Income

Due to losses taking place in the bank it is effecting service and growth of the bank.

Data Description and Hypothesis TestIn this study, the sample contains 6

Saudi commercial banks, out of 11 ones working in the Saudi banking

market. Data are collected to cover the period from 31/12/1998 to 31/12

2007, and for each bank/ year observations, the following data have been

collected: Net Profit (P), Assets (A), Equity (E), Capital (C), Number of 

Branches (BRA), Number of ATMs (ATM), Number of POSs (POS),

Availability of Phone Banking (PHO), Availability of PC Banking (PCB),and Availability of Mobile Banking (MOB). Using these raw data, variables

representing profitability and banking expansion, could be calculated as

follows: ROA = P / A ……………………………………..…………...… (1)

Where: ROA = Return On Assets ROE = P / E ……………………..

……………………….…...… (2) Where: ROE = Return On Equity ROC =

P / C …………………………………..……………...… (3)Where: ROC =

Return On Capital BRA = Number of Branches …………………..……….

….…… (4) ATM = Number of ATMs ………………………………....……(5)POS = Number of POSs ………………………..……….….…... (6) PHO

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= 1 (if phone banking is available), = 0 (if not)................... (7) PCB = 1 (if 

PC banking is available), = 0 (if not)…………..…... (8) MOB = 1 (if Mobile

banking is available), = 0 (if not)……….... (9) Z = -1/ Bank Assets (by

milliards S.R.).…..……….….….....… (10)After having calculated the

previous variables, for each bank in the sample, over the study period, the

steps of test design could be illustrated as follows.

The fifth step is to examine the effects of variables representing banking

expansion on profit efficiency, where: EF1 = f (BRA, ATM, POS, PHO, PCB,

MOB)……………………... (23) EF2* = f (BRA, ATM, POS, PHO, PCB, MOB)

………………....…. (24)EF3* = f (BRA, ATM, POS, PHO, PCB, MOB)

……………………. (25)Using these three previous functions, it's easy to calculate

the coefficients of regression, which describe how profit efficiency is affected by

banking expansion. These coefficients are B1, B2, B3, B4, B5 and B6, where

they represent coefficients of regression due to BRA, ATM, POS, PHO, PCB,

and

MOB consequently. These functions, also, illustrate the six hypotheses of this

paper, where: H1a: Number of Branches makes positive (or negative)

contribution to Profit Efficiency of Saudi Banks. This means that H1a: B1 # 0

versus null hypothesis that B1 = 0. H2a: Number of ATMs makes positive (or 

negative) contribution to Profit Efficiency of Saudi Banks. This means that H2a:

B2 # 0 versus null hypothesis that B2 = 0. H3a: Number of POSs makes positive

(or negative) contribution to Profit Efficiency of Saudi Banks. This means that

H3a: B3 # 0 versus null hypothesis that B3 = 0. H4a: Availability of Phone

Banking makes positive (or negative) contribution to Profit Efficiency of Saudi

Banks. This means that H4a: B4 # 0 versus null hypothesis that B4 = 0. H5a:

Availability of PC Banking makes positive (or negative) contribution to Profit

Efficiency of Saudi Banks. This means that H5a: B5 # 0 versus null hypothesis

that B5 = 0. H6a: Availability of Mobile Banking makes positive (or negative)

contribution to Profit Efficiency of Saudi Banks. This means that H5a: B6 # 0

versus null hypothesis that B6 = 0.

Primary Data

Where can i get primary data abt. citibank and SMRT,, for they r releasing a

common product,?

a card,,

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that will be used to withdraw money form the ATM,,and also as a fare card for travelling,the card will be same for both,,so i want to do the research whether its advantageous or no,what do i do??

and can u give me website where i can get the primary data for both thecompanies,?both the firms r in singapore,,and they r realeasing the product in singapore itself,,so plss help me,

delphinuz

Best Answer - Chosen by Asker 

You mean the Citibank SMRT Visa Platinum Card.

It seems that you are 17? Stick to your concession card. It is cheaper. Plus this isacredit card. The requirements are more suited for working adults. Plus you don'twant to have debts at a young age don't you ;)

Additional:

ok.. for Citibank credit cards (including SMRT card), you need to have a minimumof $30,000 per annum income. Basically all other info are in their websites.

The advantageous of it, you have no worries that you ez-link will reach zero, andof course there are other perks (just like any other credit card).

The disadvantage.. this is a credit card. So there's tend to be debts, annual fee,interest, etc etc. not advisable if you don't have a stable income.

Source(s):

LindaLou

I did a search for "Citibank SMRT" and a number of items came up. Try it. You'llget your answers.

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Secondary Data

 Wednesday, April 27, 2011

Slender tower for tiny siteBy JOURNAL STAFF

Developer Levin Menzies & Associates is setting its sights on a tiny triangular lot four blocks from the Seattle Center to build a 29-story condotower called Icon. The quarter-acre lot is bounded Denny Way, Sixth

 Avenue and Wall Street.

The city has approved a master-use permit for the slender tower andconstruction is scheduled to begin in May of 2008. It all goes smoothly, itshould be finished in November of 2010.

Icon will have 224 units varying from 570 to 1,400 square feet. The averagesize is 900 square feet. Prices will start in the high $200,000s and reach$1.4 million for the penthouses. Most units will be priced between$350,000 and $650,000.

The site is oddly sized and too small for a conventional shear-core structuralsystem, so the designers decided to use an outrigger structural system,

 which provides lateral resistance while avoiding a perimeter moment frame.

Parking will be provided in 10 levels below grade and two above. Some stalls will have mechanical systems so that two cars can be stacked in one space.

There will be one stall of parking for every bedroom in the building.The tower will have punched decks between various juxtaposed forms.Precast concrete architectural frame features will break up each façade. Thetop will have a garden deck and a “halo element” that glows at night.

Citibank made a proposal to finance Icon and an agreement is beingfinalized with a general contractor, according to Paul Menzies of WalnutCreek, Calif.-based Levin Menzies.

Seattle's Weber + Thompson is the architect and interior designer, and Vancouver, B.C.-based Glotman Simpson is the structural engineer. DanFoltz is Weber + Thompson's lead designer on the project.

Levin Menzies is also developing a 331-unit condo tower at Eighth and

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Seneca, east of Freeway Park. Construction on that is expected to start inMarch 2008 and finish in May 2010. It will cost about $85 million to buildand is being financed by Lehman Brothers of New York.

Citibank® Travel Card

Through leading-edge technology, innovative products and world-classcustomer service, the Citibank® Travel Card lets your organization manageits travel spending more efficiently and provides greater convenience for your employees. Extensive reporting and information management toolsgive you the data you need to analyze travel expenses more effectively,helping your organization improve its decision-making. As the world'sleading credit card issuer, we offer an unsurpassed level of expertise to help youimprove your travel expense management process overall.

At Citi, we deliver the details you need – from line-item and folio-leveldetails to consolidated global transaction data…and everything in between.

With access to this level of information, you can look beyond the details…tosimplify travel expense management and speed decision-making. Better yet, Citi’s advanced technology and online management and reporting toolsare all backed by our best-in-class customer service.

Data Management and Reporting

A host of information management solutions seamlessly integrate with your financial systems, making it easier for you to comply withagency/organization and government policies, better understand spending

patterns and negotiate with vendors, with:• Standard Reports: Monthly, quarterly or annual reports, designed to

meet your management and accounting needs, include cardholder and account data, vendor analyses, sales tax information and more

• Citibank® Custom Reporting System: An easy-to-use application thatlets you choose the data you need from more than 600 dataelements to create customized reports

• Citibank® Electronic Reporting System: For receiving and managingfiles and reports online

• CitiDirect® Card Management System: Advanced technology for 

online card program management, reporting and analysis• Citibank® Online Statements: Online access to account statements

for streamlined review and payment

•

Ongoing Consultative Support

A dedicated account team will create a program to meet your needs, or re-engineer and expand an existing one. Plus, your cardholders will enjoyround-the-clock access to knowledgeable customer support from anywherein the world.

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Unrivaled Benefits

An industry leader, Citi offers value-added features and benefits that

surpass standard travel card programs:• Acceptance at over 22 million locations worldwide and cash access

at more than 800,000 ATM locations

• Authorization controls for managing spending at the company andcardholder levels, including limits on transactions, cash access andvendor selection

• Enhancements, such as the declining balance feature, as well as anintegrated phone card and event spending management solutions

• Fraud detection system that monitors cardholder account activity

• Travel accident, primary car rental and lost luggage insurance, aswell as travel and emergency assistance

• VAT reclaim services for expenses incurred in the European Union.

Home banking, for the purposes of this report, is the ability to conduct one’sbanking and financial affairs from home . It has been a coming revolution inbanking for about the last 25 years. Indeed , telephone banking, the firstincarnation of home banking , was introduced by ADP and the seattle FirstNational Bank in 1973, terminal which delivers service to the homeincluding video banking, PC banking, Internet banking and screen phonebanking.

Despite the proliferation of technology, this revolution has not as yetmaterialized. The latest figures (1997) indicating that only about 3-6% of banking households use home banking in both the US and Germany.Thereare many reasons why home banking is attractive in principle.Forconsumers, it is potentially a cheaper, more convenient, time-savingway toaccomplish a necessary, but essentially unpleasant task. For banks,it offers the possibility to save on expensive branch and transaction costs,to attract new customer In some forms also offers the opportunity for marketing, cross-selling .nk’sExpanding the bank’s financial relationshipwith the consumer. It was this compelling logic on both the demand andsupply sides of the equation that made home banking seem like such an

obvious breakthrough product from its inception.The history of home banking is punctuated with frequent claims that it wouldrevolutionize the financial service industry.

Despite these predictions, home banking has, for the most part, provedadisappointment.In the most general terms, there are two reasons whyhome banking has failed live up to its potential. The first problem haslargely been one of standardization

Home banking is only a breakthrough product if it allowsthe consumer tomanage all or most of his financial affairs and pay bills from one hometerminal, whatever that may be. This means that home banking requires

not just a high-tech terminal, but an infrastructure that interconnects asignificant portion of all banks, non-bank financial institutions, billers, data

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processors, and consumers.

The battles over who imposes the standards, who owns and bears thecostsof the infrastructure and the terminals and how the fees should bedistributed prevented full implementation of the system. This stimulated

fears by consumer merchants and banks that they would become lockedinto a technology.

They did of control or that might soon become obsolete and deterred themfrom investing the second problem has been a lack of consumer interest.Despite the obvious benefits and despite extensive market research, bankshave Consistently overestimated how much consumers really want thisservice..

Many banks seemed to treat consumer resistance to homebanking astechnophobic and felt that once consumers properly understood theadvantages, all resistance would fade. According to Richard Braddock a

Citibank vice-president for retail banking in 1984, “[i]f I could sit down withthat customer ...

I would try to show him that he should have a broader perspective. Heshould bee doing more at his home today than he was doing at his branchyesterday.”Consumers, however, did not want to broaden their perspective,or at least did not want to learn about this perspective from their banks, andresisted bank efforts to change their habits and make them pay for it. After initial successes .Early adopters, many promising home banking initiativeswithered from lack of interest.

Today, there are once again claims that home banking is poisedtorevolutionize the financial services industry. Much has changed recentlythat would seem to negate past problems. Standards and infrastructureissues have been nearly resolved by the mass acceptance of Microsoft/Intel(Wintel)

Terminals (now present in over 40% of US homes and 20% of Germanhomes), the Internet network standard.World Wide Web user interfacestandard, and the proliferation of personalfinance software such as Quicken(10-11 million US users) and Microsoft Money (2-3 Million US users).Recently (April 1998), Microsoft, Intuit, and integrion agreed on migration toa unified standard for electronic financial transaction which would seemdestined to gain broad acceptance in the US. In Germany a new

transaction standard called the HBCI (Home Banking computer Interface)has been approved by the ZKA (Zentralkreditausschuß - Central CreditCommittee) as a similarly hegemonicstandard to which all German banksmust comply by October 1998.Additionally, home banking now requiresmuch less broadening ofperspectives on the part of consumers. Manyalready have PCs , Internet access (70million or so and growing rapidly)and PFMs; they are much more comfortable with the technology andaccustomed to buying books, airline tickets, and even cars online. For many consumers, the up-front costs of home banking have alreadybeenspent and the network access fees are already being paid to their Internet service. providers. Certainly, the pieces now seem in place for 

the revolution to finally takeoff. As one respected commentator on thebanking industry, Martin Mayer, put it, at long last, after years of study and

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product testing, the business of providing computerized [banking] servicesin the home is finally bursting to life.”

Unfortunately, Mayer said that in 1983. The pieces do seem to be in place,but history should teach a certain humility in predicting that home

banking.will soon revolutionize financial services.This report is intended totrace the histroy of home banking as an innovation in both countries, tounderstand the sources of that innovation in both countries & to explain thesources of any differences in innovative processes between the U.S.andgermany. Although there is no reason to assume that home banking istypical offinancial service innovation in either country, because it is aninnovation withpotentially revolutionary effects on retail banking, somegeneral observations may result. Toward that end, the report will begin bysketching the relevant regulatory and industrial structure of the retailbanking sector in each country.

The next section will detail the history and state of home banking in the

united states and germany. The final section will elaborate on the salientdifferences in how this innovation has evolved in both countries and makesome companies as to the sources of innovation in home banking in theU.S. and Germany.

Conclusion: