Citi Group

🚨 Reasons for Boycotting Citigroup

Citigroup Inc. is a publicly traded global banking and financial services company headquartered in New York, USA, trading on the New York Stock Exchange (C). Founded in 1812. Its largest shareholders are BlackRock (8.91%), Vanguard (6.95%), and State Street (4.64%). Institutional investors hold 82.03% of total shares. Citigroup operates in israel, boasting the largest presence of any foreign financial institution in the country. Citibank serves as fiscal agent, paying agent, transfer agent, and registrar for the Government of israel under a Fiscal Agency Agreement. Citigroup is one of seven financial institutions that underwrite israeli government bonds, having underwritten $2.9 billion in israeli bonds. In 2021, Citibank provided a $2.5 billion loan to israel, which was used to purchase 25 F-35 fighter jets from the US. Citigroup invests in over 22 israeli technology companies through Citi Ventures and Citi Impact Fund. The company established the Citi Innovation Lab in Tel Aviv in 2013. Citigroup is not on the BDS movement's official boycott list; however, it is targeted by independent boycott platforms due to its deep financial ties with israel.

1. Fiscal Agency Services for the israeli Government: Citibank serves as fiscal agent, paying agent, transfer agent, and registrar for the Government of israel under a Fiscal Agency Agreement. Citigroup is one of seven financial institutions that underwrite israeli government bonds, having underwritten $2.9 billion in israeli bonds. These services directly contribute to the financing of israel's military and economic infrastructure.israel Bonds: Citibank — Fiscal Agency AgreementValori.it: Citigroup — $2.9 billion israeli bond underwriting (October 2025)PAX: Underwriters of israeli war bonds — Citigroup $2.89 billion
2. $2.5 Billion Loan to israel (F-35 Purchase): In 2021, Citibank provided a $2.5 billion loan to israel. This loan was used to purchase 25 F-35 fighter jets from the US. A 2023 congressional report confirmed that israel obtained this loan from a Citibank-led consortium using US Foreign Military Financing (FMF) funds. This loan directly contributed to financing israel's military capacity used in its attacks on Gaza.Kayhan: Citibank — $2.5 billion F-35 loan to israel (June 2024)Press TV: Citibank — $2.5 billion loan to israel (June 2024)
3. Investments in israeli Technology Companies: Citigroup invests in over 22 israeli technology companies through Citi Ventures and Citi Impact Fund. Citi Ventures' 19 active israeli portfolio companies include fintech companies such as Bluevine, Capitolis, and CapStack. Citi Impact Fund has 3 active israeli portfolio companies: Empathy, TailorMed, and Talos. In November 2024, Citi led a $20 million investment in israeli fintech company Capitolis. Citi Retail Services selected israeli fintech company ChargeAfter. These investments provide direct capital flow into the israeli tech ecosystem.IVC Online: Citi Impact Fund — israeli portfolio companiesCalcalist: Capitolis — $20 million investment led by Citi (November 2024)NoCamels: ChargeAfter — selected by Citi Retail Services (February 2024)
4. Tel Aviv Innovation Lab: Citigroup established the Citi Innovation Lab in Tel Aviv in 2013. The lab focuses on AI, natural language processing, security, risk, data intelligence, and automated trading. The lab also hosts an accelerator program for israeli fintech startups. This lab directly contributes to israel's technology and innovation infrastructure.Citigroup: israel — Citi Innovation Lab (2013)Calcalistech: Citi — Tel Aviv Innovation Lab (2026)
5. Zionist Capital: BlackRock and Vanguard Shareholding: Citigroup's largest institutional shareholders include BlackRock (8.91%), Vanguard (6.95%), and State Street (4.64%). Institutional investors hold 82.03% of total shares. These funds face boycott calls from activists due to their defense industry and israel-linked global investments.ADVFN: Citigroup — BlackRock 8.91%, Vanguard 6.95% (June 2026)Motley Fool: Citigroup — Vanguard 9.33%, BlackRock 9.24% (March 2026)
6. Boycott Status and International Reactions: Citigroup is not on the BDS movement's official boycott list. However, it is targeted by independent boycott platforms due to its underwriting of israeli bonds, fiscal agency services for the israeli government, and investments in israeli technology companies. In June 2024, a 12-week protest campaign called "Summer of Heat on Wall Street" was launched in New York, with protesters besieging Citigroup's headquarters. Protesters called on Citibank customers to close their accounts and cancel their credit cards.RadioHC: New York protesters besiege Citigroup HQ over ties with israel (June 2024)Kayhan: Pro-Palestine, Climate Justice Movements Converge Against Citigroup (June 2024)LittleSis: Citi is Banking on Militarism and AI (May 2026)

🌐 Sources

• Citigroup: israel — Global Presence
• ADVFN: Citigroup Ownership Structure
• IVC Online: Citi Impact Fund — israeli Portfolio
• Kayhan: Citigroup — $2.5bn F-35 Loan
• israel Bonds: Citibank — Fiscal Agency Agreement
• LittleSis: Citi is Banking on Militarism and AI

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