"Supporting the Olympic and Paralympic dreams of America's athletes is one way we can show appreciation for the support of the American people," said Citi chief executive Vikram Pandit.

"The Olympic Games are more than just sporting events.

"They are one of the world's premier venues for showcasing excellence and dedication, two of the values that guide us every day.

"We look forward to sharing the excitement and competitive spirit of the London Games with our clients, colleagues and community partners across the country."

The deal is another coup for Scott Blackmun, the chief executive of the USOC.

"On behalf of theUS Olympic Committee, we are proud to welcome Citi into our dedicated family of corporate partners," he said.

"It is the support of sponsors like Citi that enables America's athletes to pursue their Olympic and Paralympic dreams, and to inspire our country through their journeys of hard work and perseverance.

"We thank Citi for helping our athletes compete on the global stage of the Olympic and Paralympic Games."

Citi's sponsorship agreement with the USOC and NBC, the official US broadcaster of the Olympic Games, is part of an innovative, new collaboration between NBC Olympics and the USOC, through which the organisations have developed an integrated marketing and media package to the Olympic Games.

Citi's agreement includes television and digital advertising, events and promotional opportunities.