In June 2022, the division was sold to National Australia Bank.

[1] In 1916, National City Bank (now Citibank) applied to open an office in Australia.

In 1977, Citicorp Australia Holdings was formed and acquired 100% of Industrial Acceptance Corporation.

It came after decades of mistrust between the Australian labour movement and large banks.

[4] In 2001, Citigroup Centre, Sydney was completed, 50% owned by GPT Group.