The Citibank, formerly located at 8500 Germantown Ave., closed down for good over the weekend.

by Kevin Dicciani

The Citibank at 8500 Germantown Avenue vanished over night. Well, not really.

The bank’s disappearance over the weekend is due to the larger restructuring of Citigroup, which announced on Dec. 5 that it would be closing 13 of its 21 Philadelphia area branches, along with others in Boston and North Jersey, and laying off 11,000 people.

Spending as much as $4 million per office, Citigroup planned the move as more and more people are banking digitally. The company has made an effort to open branches in well-traversed suburban areas with plentiful parking – so – one has to wonder if the never-ending parking fiasco in Chestnut Hill was a contributing factor in Citibank’s departure.

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