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May 06, 2015 5:04 AM ET


Company Overview of Citibank International Limited

Company Overview

Citibank International plc, together with its subsidiaries, provides various banking products and services primarily in the United Kingdom and Continental Europe. The company provides savings and current accounts, time deposits, foreign currency deposit accounts, and personal loans products. It also offers investment banking products and services, including investment banking, debt trading, advisory services, foreign exchange, structured products, derivatives and lending, and investment advice and asset management services to high net worth individuals, retail clients, institutions, corporations, governments, and investors. In addition, the company provides retail banking services, cards, le...

19th Floor

Citigroup Centre

Canada Square

Canary Wharf

London,  E14 5LB

United Kingdom

Founded in 1972

4,580 Employees


44 20 7500 5000


44 20 7508 6797

Key Executives for Citibank International Limited

Executive Officer
Age: 73
Compensation as of Fiscal Year 2014.

Citibank International Limited Key Developments

Investor Sues Citibank

Citibank was sued by investor Dr. Sami Abbas Hussein Ali before the Abu Dhabi Commercial Court of First Instance (Lawsuit No. 2901/2014) on 08/12/2014. Citibank is accused of self-dealing, defrauding investors, and attempting to initiate a global cover-up of investor losses. According to the lawsuit Citibank International PLC, Citi Private Bank, and Citi Private Bank Abu Dhabi: Hid losses from investors in the CReAM (Citi Real Estate Asset Management) Fund, some of whom unknowingly lost their entire investment, for more than three years before sending a one-page letter that stated that previous quarterly reports showing value in the investment had been inaccurate as a result of a "Citi Private Bank operational error."; purchased two shopping centers in the United Kingdom at questionable values, one of which appears to have been owned by the CReAM Fund's own manager, without disclosing the "insider" nature of the transaction to investors; admittedly failed to obtain required approvals from the Central Bank of the United Arab Emirates to solicit investments from investors in that country. Under UAE law, investments marketed to investors in the country without the required approvals are null and void. Citibank marketed the CReAM Fund to investors in the GCC countries of the Middle East in 2004 as a medium risk investment projected to yield annual revenues at a rate of 4 percent. From 2004 to 2006, the CReAM Fund, which was managed by David Lockhart of the Halladale Group Plc, invested in 12 shopping centers in the United Kingdom. However, unknown to investors, Mr. Lockhart's employer, Halladale, appears to have owned one of the shopping centers, which was sold to the CReAM Fund at questionable values. All of the shopping centers eventually liquidated, costing investors millions of dollars. Mr. Lockhart, through a new entity known as New River, in 2008 purchased the assets of CReAM Fund at distressed prices. Again, none of the proceeds went to the original investors. "Citibank, Halladale Company and Mr. Lockhart achieved huge profits…at the time the Plaintiff lost all the invested money," according to the lawsuit. Dr. Sami Abbas Hussein Ali is seeking among other reliefs the return of his entire investment, plus appropriate compensation for the losses suffered by him on account of the wrongful acts of Citibank. The Lawsuit stands posted to December 21, 2014.

Citibank International plc has Changed its Name to Citibank International Limited

On October 31, 2014, Citibank International plc changed its name to Citibank International Limited.

Citibank International plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Citibank International plc reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported net interest income of £116 million, total operating income of £215 million, profit before income tax from continuing operations of £58 million, net profit of £26 million compared to the net interest income of £86 million, total operating income of £245 million, profit before income tax from continuing operations of £20 million, net profit of £2 million for the previous year. Operating profit was £44 million compared to £51 million in the same period last year. Profit for the period from continuing operations was £44 million compared to £27 million for the same period a year ago. Net cash flow used in operating activities of £281 million compared to the net cash flow from operating activities of £880 million for the previous year. Purchase of property, plant and equipment was £23 million compared to the £18 million for the previous year. Purchase of intangible assets was £67 million compared to the £67 million for the previous year.

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