Citi

Citi is a global bank that provides everyday banking, credit cards, commercial and investment banking, and wealth management services to individuals, businesses, and governments. The company is headquartered in New York City and operates across more than 100 countries, with a network that spans major U.S. metros and key international financial centers. Its name is widely recognized by consumers and institutions, which helps drive steady traffic to its retail branches and consistent demand for office space in central business districts.

The business dates back to 1812, when it was founded as the City Bank of New York. Over time it grew through acquisitions and name changes, becoming National City Bank of New York and then First National City Bank as its reach expanded. A defining milestone came in 1998, when Citicorp merged with Travelers Group to form Citigroup, creating the modern Citi brand and cementing its position as one of the largest financial institutions in the world.

As of December 2024, Citi operates about 2,000 branches and a large ATM network across the United States, alongside significant international operations in markets such as London, Hong Kong, Singapore, and São Paulo. Its U.S. retail presence is concentrated in major metropolitan areas like New York, Chicago, Los Angeles, and Washington, D.C., where the bank often occupies visible, well-located corner sites and prominent lobby or podium space in office towers. Internationally, Citi typically focuses on prime locations in core financial districts that support both walk-in consumer activity and institutional client needs.

Over roughly the last five years, Citi has been reshaping its footprint rather than expanding it aggressively. The bank has exited or scaled back operations in several non-core countries, closed selected underperforming branches, and redirected capital toward digital banking platforms and core markets in North America, Asia, and Latin America. In practice, that has meant fewer but more productive locations, a heavier emphasis on flagship branches in high-profile areas, and ongoing investment in modern corporate offices and operations hubs in major cities.

For landlords, brokers, and developers, Citi represents a long-established, investment-grade financial tenant with a consistent need for high-visibility retail corners, branch space in dense urban neighborhoods, and institutional-quality office space in gateway markets. While the bank is not pursuing broad-based branch growth in the United States, it continues to refresh, relocate, and consolidate sites to align with changing customer behavior and digital usage. In top-tier urban locations and select international financial centers, Citi remains a meaningful occupier whose decisions can help anchor mixed-use projects, support daytime populations, and signal confidence in key corridors.