A merchant bank provides capital to companies through equity ownership rather than loans, and provides advisory services to client firms. Citibank was founded in 1812 and grew to become the largest bank in the world by 1930 with branches across 23 countries. After changing its name to Citibank in 1976 and being acquired by Citigroup in 1998, it is now the consumer and corporate banking division of Citigroup operating in over 140 countries. Citibank aims to be the most respected global financial services company by delivering profits responsibly through business banking, credit cards, investments, loans, and digital banking products and services.