CITI® RANKED NUMBER ONE U.S. CORPORATE CARD ISSUER BY THE NILSON REPORT
New York - August 10, 2010 – Citi today announced that it has been ranked as the number one Corporate bank card issuer in the U.S. by The Nilson Report. The ranking, based on transaction volume, places Citi well ahead of its nearest competitors.
"We have continued to make great strides in the U.S. corporate card market," said Hubert JP Jolly, Citi's Global Head of Commercial Cards. "Even during the recent downturn, we continued to win business and have seen a substantial increase in the number of transactions flowing through our systems."
With a host of online, customizable, reporting tools and integrated solutions, Citi Commercial Cards offer clients a comprehensive package that takes program and report management to a higher level, providing a superior quality business intelligence engine --supporting the need for consolidated data and card-level administration and information. Citi's commercial card programs increase control and transparency, offering greater visibility into what and where organizations are spending.
"We are pleased to be recognized as the largest U.S. Corporate bank card issuer," added Amol Gupte, Citi's North America Head of Treasury & Trade Solutions. "We consistently win new business by ensuring that clients and their needs are the focus of everything that do."
Citi Commercial Cards, is a unit of the Global Transaction Services business with issuance capabilities in over 90 countries and an extensive proprietary network of over 50 countries. The business has long been considered a pre-eminent commercial cards provider to large and multi-national organizations both in the U.S. and globally. Nearly 500 multinational corporations use its commercial cards programs at the core of their expense management strategy, making Citi a premier card issuer in terms of technology, innovation and volume.
About Citi Global Transaction Services
Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the second quarter of 2010, it held $320 billion in liability balances and $11.3 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.