Citibank N.A. (Citi) on Tuesday announced it has enhanced its capital position in Citi Pakistan with an injection of Rs 2.2 billion taking the total capital of its Pakistan branches to Rs 7.7 billion. The incremental capital will allow Citi Pakistan to achieve its strategy of growth across its Institutional Clients and Consumer businesses.
"We have strengthened Citi's balance sheet via this enhancement of capital position" said Arif Usmani, Citi Country Officer and Managing Director Citi Pakistan. "This increase in capital not only reinforces our financial position, but more importantly we hope to reassure our stakeholders of both our commitment to and the enduring nature of our operations in Pakistan" Usmani added.
Citi has been operating in Pakistan since 1961 and has a highly respected franchise through its successful delivery of innovative, high-quality banking products and services to its customers.-PR