Citibank, a division of Citicorp, is one
of the
largest and most stable banks in the world. Citibank started as the
First Bank
of New York in 1812 and over the
years grew
into one of the premier banks of the United States. It changed
as the
country changed, first serving fledgling US businesses, later opening
foreign
branches, and finally starting the holding company Citicorp in 1967.
Citicorp
is the company that holds Citibank’s assets as well as several other
divisions
that have been broken off or acquired over time.
Today, Citibank is part of a banking and financial
products
corporation that has major offices in most countries in the world. They
pioneered ATMs, own Carte Blanche and Diners Club credit cards, and
have
purchased several smaller regional banks. Today, they have over 3,000
branch
offices worldwide, and perform financial services for countries,
companies, and
individuals worldwide.
Citicorp’s diversity and size make them one of the
most
attractive publicly-owned companies in the world, but it also ensures
that it
will be very hard to find Citibank stock at a bargain price. Citibank
stock
holds great value and can make a great cornerstone for a diversified
portfolio.
You can be certain of being able to sell your stock pretty much
whenever you
want to.
There is one thing to watch for if you want
Citibank stock a
little more cheaply. Because they’re a heavily international company,
the value
of their assets is not tied to the American dollar as tightly as other
American
companies. So if you watch the Euro and other currencies that Citibank
holds,
you may be able to find Citibank stock at a better price when these
currencies
decline in value against the dollar. Similarly, though, when the dollar
declines in value, you may find the price of Citibank stock rising in
comparison to many other financial stocks you can purchase.
When you want to get a very stable stock,
international
banking stocks like Citibank stock are often a great choice. They are
stable in
most situations, and can be counted on to retain their value.
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