The agency is using a humorous documentary-style approach for the pan-European campaign, called "live richly", in a bid to help Citibank stand out from mainstream banking advertising.
Television and national press activity will run in major European markets including the UK and Germany.
The TV work featuring Dale is part of a drive to persuade consumers that Citibank is a bank that understands there's more to life than money.
"Dog" features a Swedish man called Jan who owns the talented Dale. Jan takes Dale for a walk in the park and the dog begins to breakdance in front of a crowd of onlookers.
The ad's premise is that Jan could make a lot of money if he chose to exploit Dale commercially. However, he realises this would fundamentally change the nature of their relationship, so chooses not to.
Fallon is also running a series of product campaigns for Citibank to support the brand work. The first is for a new product called Citibest, an all-inclusive current, savings, credit card and investment account that comes with free consultative advice from a Citibank financial planner.
The ads were written by Ed Edwards, art directed by Dave Masterman and directed by Lenny Dorfman at @radical.media. Media planning and buying is through Mediaedge:cia.
The pan-European activity builds upon the successful brand relaunch for Citibank in the US through Fallon Minneapolis.