Citigroup, Inc (NYSE: C) Becomes Next Apple (NASDAQ: AAPL) iAd Advertiser

Citigroup, Inc (NYSE: C) has joined the list of advertisers which are making use of Apple’s new iAd advertising platform which  serves mobile ads to iPhone, iPod and iPad users.

Citibank’s iAd allows users to indirectly install Citibank’s applications and promotes the bank’s credit card offerings to users. The ad tells different stories of Citibank customers and how they make use of Citibank products in their financial lives.

The New York-based bank joined a growing list of advertisers on the iAd platform, which also includes Unilever and Nissan. A recent report said that iAd advertisers are extremely happy with the results of their iAd campaigns which customers spent an average of 90 seconds with each ad, 10 times longer than interaction times for comparable online ads.

iAd is a mobile advertising platform which was developed by Apple for the iPhone, iPod and iPad devices. The service allows third-party developers to directly embed ads into their application. The service was first announced on April 8^th, 2010 and was released along inside of iOS 4. iAds are hosted by and sold by Apple. It’s been revealed that advertisers have already committed to spending $60 million on the platform through 2010.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.

Shares of Citigroup, Inc (NYSE: C) traded up 1.16% hitting $3.91 during mid-day trading on Friday.