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The City Bank of New York participated in lending efforts funding the War of 1912.

1856-1882

Moses Taylor was the bank's most important president and a major financier for the Union Army. 

Nov. 1929

Charles E. Mitchell, bank president, was blamed by a U.S. Senator as one of the "more than 50 men... responsible for this stock crash"

1961

The bank pioneered selling negotiable CDs, its biggest source of funds after savings deposits.

1974

The bank's holding company changed its name to Citicorp "to better suit its global businesses."

1998

Travelers Group purchased all Citicorp shares, creating Citigroup.

2008

Citigroup suffered billions of dollars in losses during the subprime mortgage crisis. 

The U.S. government invested in &25 billion in Citigroup under the Emergency Economic Stabilization Act.

Citigroup (C - Get Report)  reported its Q2 2019 results on Monday, July 15.

Here are the highlights:

  • The global bank beat Wall Street's expectations, with results boosted by a jump in fixed income trading and cost-cutting
  • The bank reported Q2 earnings of $1.95 per share
  • Revenue came in at $18.76 billion, exceeding the $18.5 billion estimate
  • Its stock is up nearly 40% year to date

Watch the video above to find out more about this banking powerhouse's history and how it got its start. 

Citigroup is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells a stock? Learn more here..

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