SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-K


(Mark One)
[X]       ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                            SECURITIES EXCHANGE ACT OF 1934

          For the fiscal year ended December 31, 1997

                                       OR

[  ]        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                             SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________  to ______________


                        Commission file numbers: 33-41055
                                                 33-43576
                                                 33-62180
                                                 33-77802
                                                 33-84834
                                                 33-97664
                                                 33-99328
                                                 333-38803

                          Citibank (South Dakota), N.A.
                                  on behalf of
                       Citibank Credit Card Master Trust I
          (Issuer in respect of the Citibank Credit Card Master Trust I
      8 7/8% Class A Credit Card Participation Certificates, Series 1991-3
      9 1/4% Class B Credit Card Participation Certificates, Series 1991-3
      7.875% Class A Credit Card Participation Certificates, Series 1991-6
      8.350% Class B Credit Card Participation Certificates, Series 1991-6
       5.95% Class A Credit Card Participation Certificates, Series 1993-2
       6.15% Class B Credit Card Participation Certificates, Series 1993-2
       5.50% Class A Credit Card Participation Certificates, Series 1993-3
       5.70% Class B Credit Card Participation Certificates, Series 1993-3
       7.25% Class A Credit Card Participation Certificates, Series 1994-2
       7.50% Class B Credit Card Participation Certificates, Series 1994-2
       6.80% Class A Credit Card Participation Certificates, Series 1994-3
       7.00% Class B Credit Card Participation Certificates, Series 1994-3
       8.25% Class A Credit Card Participation Certificates, Series 1994-4
       8.25% Class A Credit Card Participation Certificates, Series 1995-1
       8.45% Class B Credit Card Participation Certificates, Series 1995-1
       7.85% Class A Credit Card Participation Certificates, Series 1995-3
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-4
       7.65% Class B Credit Card Participation Certificates, Series 1995-4
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-
       6.75% Class A Credit Card Participation Certificates, Series 1995-6
       6.90% Class B Credit Card Participation Certificates, Series 1995-6
       6.70% Class A Credit Card Participation Certificates, Series 1995-8
       6.85% Class B Credit Card Participation Certificates, Series 1995-8
       6.55% Class A Credit Card Participation Certificates, Series 1995-9
       6.65% Class B Credit Card Participation Certificates, Series 1995-9
      5.90% Class A Credit Card Participation Certificates, Series 1995-10
      6.05% Class B Credit Card Participation Certificates, Series 1995-10
  Floating Rate Class A Credit Card Participation Certificates, Series 1995-11
    Zero Coupon Class A Credit Card Participation Certificates, Series 1996-1
    Zero Coupon Class B Credit Card Participation Certificates, Series 1996-1
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-5
                                                       [cover page 1 of 2 pages]


<PAGE>


   Floating Rate Class B Credit Card Participation Certificates, Series 1996-5
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-6
       6.55% Class A Credit Card Participation Certificates, Series 1997-2
       6.70% Class B Credit Card Participation Certificates, Series 1997-2
      6.839% Class A Credit Card Participation Certificates, Series 1997-3
      6.989% Class B Credit Card Participation Certificates, Series 1997-3
   Floating Rate Class A Credit Card Participation Certificates, Series 1997-4
   Floating Rate Class B Credit Card Participation Certificates, Series 1997-4
    Zero Coupon Class A Credit Card Participation Certificates, Series 1997-6
    Zero Coupon Class B Credit Card Participation Certificates, Series 1997-6
       6.35% Class A Credit Card Participation Certificates, Series 1997-7
       6.45% Class B Credit Card Participation Certificates, Series 1997-7
   Floating Rate Class A Credit Card Participation Certificates, Series 1997-8
  Floating Rate Class A Credit Card Participation Certificates, Series 1997-10
  Floating Rate Class B Credit Card Participation Certificates, Series 1997-10
                       (collectively, the "Certificates"))
                       -----------------------------------
             (Exact name of registrant as specified in its charter)

     United States of America                         46-0358360
     ------------------------                         ----------
(State or other jurisdiction of           (I.R.S. Employer Identification No.)
  incorporation or organization)

     701 East 60th Street, North
     Sioux Falls, South Dakota                           57117
     -------------------------                           -----
(Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code:  (605) 331-2626

Securities registered pursuant to Section 12(b) of the Act:

         NONE

Securities registered pursuant to Section 12(g) of the Act:

         Forms 8-A were filed with the Securities and Exchange  Commission  (the
"Commission")  registering each Series of the  Certificates  pursuant to Section
12(g) of the Securities Exchange Act of 1934 (the "Act").

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

         Yes   X  .*   No      .
             -----        -----

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]


State the aggregate market value of the voting and non-voting common equity held
by  non-affiliates  of the  registrant.  The  aggregate  market  value  shall be
computed by reference to the price at which the common  equity was sold,  or the
average bid and asked price of such common equity, as of a specified date within
60 days prior to the date of filing.  (See  definition of affiliate in Rule 405,
17 C.F.R. 230.405):

         NOT APPLICABLE.
                                                       [cover page 2 of 2 pages]

-----------------

     *On April 28,  1989,  the  registrant  was issued a  no-action  letter (the
"No-Action   Letter")  by  the  Commission   with  respect  to  certain  of  the
registrant's  reporting requirements pursuant to Section 13 or 15(d) of the Act.
This Form 10-K has been prepared in accordance  with the terms of such No-Action
Letter.


<PAGE>


                                     PART I
                                     ------

Item 1. Business.

      Omitted pursuant to the No-Action Letter.

Item 2. Properties.

      Pursuant  to Section  3.06 of the  Pooling and  Servicing  Agreement  (the
"Pooling  Agreement")  dated as of May 29, 1991 relating to the Citibank  Credit
Card Master Trust I, formerly known as Standard  Credit Card Master Trust I (the
"Trust")  among Citibank  (South  Dakota),  N.A.  ("CBSD"),  Citibank  (Nevada),
National  Association  ("CBNV",  CBSD and CBNV  collectively,  the  "Banks") and
Bankers Trust Company (as successor to Yasuda Bank and Trust Company  (U.S.A.)),
as  trustee  (the  "Trustee"),  KPMG  Peat  Marwick  LLP has  performed  certain
procedures in connection with the Monthly Servicer's  Certificates (the "Monthly
Certificates") for the months of January 1997 through December 1997. The Monthly
Certificates contain information relating to the receivables (the "Receivables")
and the  accounts  from which the  Receivables  arise (the  "Accounts")  and are
prepared  by the  Servicer  and  delivered  to the  Trustee  pursuant to Section
3.04(b) of the Pooling Agreement. The reports issued by KPMG Peat Marwick LLP in
connection with the servicing activities of CBSD, as servicer (in such capacity,
the "Servicer"),  are attached hereto as Exhibit 99.1. The Monthly  Certificates
containing  information relating to the Receivables and the Accounts for the Due
Periods  ending in  January  1997  through  December  1997 are  incorporated  by
reference  from the  registrant's  Current  Reports  on Form 8-K filed  with the
Commission on February 24, 1997,  March 25, 1997,  April 22, 1997, May 23, 1997,
June 19, 1997, July 28, 1997, August 22, 1997,  September 30, 1997,  October 28,
1997, December 1, 1997, December 23, 1997 and January 27, 1998, respectively. In
addition,  the registrant's Current Report on Form 8-K filed with the Commission
on January 21, 1998 containing certain financial  information as of December 31,
1997 with regard to the Trust,  the Receivables and the Accounts is incorporated
by reference.

Item 3. Legal Proceedings.

      The registrant  knows of no material pending legal  proceedings  involving
the Trust,  CBSD,  CBNV or the  Trustee (in its  capacity  as such),  other than
routine  litigation  incidental to the business of the Trust,  CBSD, CBNV or the
Trustee (in its capacity as such).

Item 4. Submission of Matters to a Vote of Security Holders.

      NONE.

                                     PART II
                                     -------

Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.

     To the best knowledge of the  registrant,  there is no  established  public
trading market for the Certificates.

     Each  class of  Certificates  is  represented  by one or more  certificates
registered  in the name of Cede & Co.  ("Cede"),  the nominee of The  Depository
Trust Company ("DTC").

Item 6. Selected Financial Data.

     Omitted pursuant to the No-Action Letter.

Item 7. Management's  Discussion and Analysis of Financial Condition and Results
of Operation.

     Omitted pursuant to the No-Action Letter.


                                       3


<PAGE>


Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

     Omitted pursuant to the No-Action Letter.

Item 8. Financial Statements and Supplementary Data.

     Omitted pursuant to the No-Action Letter.

Item  9.  Changes  in and  Disagreements  with  Accountants  on  Accounting  and
Financial Disclosure.

     NONE.

                                    PART III
                                    --------

Item 10. Directors and Executive Officers of the Registrant.

     Omitted pursuant to the No-Action Letter.

Item 11. Executive Compensation.

     Omitted pursuant to the No-Action Letter.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

     (a) Each class of Certificates  is represented by one or more  certificates
registered in the name of Cede,  the nominee of DTC, and an investor  holding an
interest in the Trust is not entitled to receive a certificate representing such
interest  except in limited  circumstances  set forth in the Pooling  Agreement.
Accordingly,  Cede is the sole holder of record of Certificates,  which it holds
on behalf of brokers,  dealers,  banks, and other direct participants in the DTC
system. Such direct participants may hold Certificates for their own accounts or
for the accounts of their customers. The name and address of Cede is Cede & Co.,
c/o The Depository Trust Company, Seven Hanover Square, New York, NY 10004.

     (b) Omitted pursuant to the No-Action Letter.

     (c) Omitted pursuant to the No-Action Letter.

Item 13. Certain Relationships and Related Transactions.

     There have not been, and there are not currently proposed,  any transaction
or series of  transactions,  to which  either  the Trust,  CBSD,  as a seller or
servicer,  CBNV, as a seller, or the Trustee, on behalf of the Trust, is a party
with any  Certificateholder  who owns of record or  beneficially  more than five
percent of the Certificates.


                                       4


<PAGE>


                                     PART IV
                                     -------


Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.


     (a)  24.1 Powers of Attorney of Messrs.  Greenfield,  Johnson and Bender as
          Directors  and/or  Officers  of  Citibank  (South  Dakota),  N.A.  are
          incorporated  by  reference  from  Exhibit  25.1  of the  registrant's
          Registration  Statement  on Form S-1  (File  No.  33-28213).  Power of
          Attorney of Mr.  Paladino as a Director  of Citibank  (South  Dakota),
          N.A.  is   incorporated   by  reference   from  Exhibit  25.1  of  the
          registrant's Registration Statement on Form S-1 (File No. 33-33860).

          99.1 Reports on the activities of CBSD, as Servicer,  prepared by KPMG
          Peat Marwick LLP pursuant to Section 3.06 of the Pooling Agreement are
          attached hereto as Exhibit 99.1.

          99.2 The Monthly Certificates  containing  information relating to the
          Receivables  and the  Accounts  for the Due Periods  ending in January
          1997 through  December  1997 are  incorporated  by reference  from the
          registrant's  Current Reports on Form 8-K filed with the Commission on
          February 24, 1997,  March 25, 1997, April 22, 1997, May 23, 1997, June
          19, 1997, July 28, 1997, August 22, 1997,  September 30, 1997, October
          28,  1997,  December 1, 1997,  December 23, 1997 and January 27, 1998,
          respectively.

          99.3  The  registrant's  Current  Report  on Form 8-K  filed  with the
          Commission   on  January  21,  1998   containing   certain   financial
          information  as of December  31,  1997 with  regard to the Trust,  the
          Receivables and the Accounts is incorporated by reference.


     (b)  Omitted pursuant to the No-Action Letter.


     (c)  Omitted pursuant to the No-Action Letter.


     (d)  Omitted pursuant to the No-Action Letter.


                                       5


<PAGE>


                                   SIGNATURES
                                   ----------

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                  CITIBANK (SOUTH DAKOTA), N.A.,
                                  as Servicer
                                  (Registrant)


                                  By: /s/ Eugene D. Rowenhorst
                                      ------------------------
                                          Eugene D. Rowenhorst
                                          Senior Vice President


Dated:  March 30, 1998


     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
registrant on March 30, 1998 in the capacities indicated.


                               /s/ Thomas W. Jones
                               ------------------------
                               Thomas W. Jones
                               President, Chief Executive Officer and a Director
                               (Principal Executive Officer)


                               /s/ Eugene D. Rowenhorst
                               ------------------------
                               Eugene D. Rowenhorst
                               Chief Financial Officer and a Director
                               (Principal Financial Officer and
                               Principal Accounting Officer)


                               ------------------------
                               Roberta J. Arena
                               Director


                                          *
                               ------------------------
                               Donald Bender
                               Director


                                          *
                               ------------------------
                               Russell R. Greenfield
                               Director


                               ------------------------
                               James W. Hutchinson
                               Director


                                       6


<PAGE>


                                          *
                               ------------------------
                               Jerry W. Johnson
                               Director


                                          *
                               ------------------------
                               Joachim M. Paladino
                               Director


                               ------------------------
                               James R. Stojak
                               Director


*    Eugene D. Rowenhorst,  by signing his name hereto,  does sign this document
     on behalf of the persons  indicated  above  pursuant to a power of attorney
     duly executed by such person and  previously  filed with the Securities and
     Exchange Commission.


                                       By: /s/ Eugene D. Rowenhorst
                                           ------------------------
                                               Eugene D. Rowenhorst
                                               Attorney-in-Fact


                                       7