Intership Report On Citibank

VISION OF CITIBANK

History

Citibank International Founded in 1812 as the City Bank of New York by a group of New York merchants, the bank's first head was Samuel Osgood, who had been the U.S.'s first Postmaster General. Subsequently, ownership and management of the bank was taken over by Moses Taylor, a protégé of John Jacob Astor and one of the giants of the business world in the 19th century. During Taylor's ascendancy, the bank functioned largely as a treasury and finance center for Taylor's own extensive business empire.

In 1865 the bank joined the U.S.'s new national banking system and became The National City Bank of New York. By 1894, it was considered one of the largest banks in the United States, and in 1897, it became the first major U.S. bank to establish a foreign department. In 1913 it was the first contributor to the Federal Reserve Bank of New York.

National City became the first U.S. national bank to open an overseas banking office when its branch in Buenos Aires, Argentina was opened in 1914. Many of Citi's present international offices are older; offices in London, Shanghai, Calcutta and elsewhere were opened in 1901 and 1902 by the International Banking Corporation (IBC), a company chartered to conduct banking business outside the U.S., at that time an activity time forbidden to U.S. national

banks. In 1918, IBC became a wholly owned subsidiary and was subsequently merged into the bank. By 1919 the bank had become the first U.S. bank to have $ 1 billion in assets

By 1913 Citibank had become the first contributor to the Federal Reserve Bank of New York. One of the pioneering efforts of Citibank includes the introduction of automated teller machines (ATM) in the 1970s, so that their customers could access their accounts 24-hour a day. Citi Cards, which is an integral part of the Citibank global operations, has 200 million customer accounts in more than 100 countries globally. Citigroup has three major business groups

1. The Global Consumer 2. The Corporate and Investment Banking 3. The Global Wealth Management

The Citigroup’s Global Consumer Group has been responsible for introducing consumer product offerings in the entire North America as well as around the world. Some of their products or services include credit cards, banking services, insurance and loans. The Corporate and Investment Banking division provides advisory and transaction services to government, institutions and corporate clients. The Global Wealth Management division provides a top-tier money management service catering to the institutional and private clients through world class brands like Smith Barney

In the 1960s the bank entered into the credit card business. In 1965, First National City Bank bought Carte Blanche from Hilton Hotels. However after three years, the bank (under pressure from the U.S. government) was forced to sell this division. By 1968, the company created its own credit card. The card, known as "The Everything Card," was promoted as a kind of East Coast version of the BankAmericard. By 1969, First National City Bank decided that the Everything Card was too costly to promote as an independent brand and joined Master Charge (now MasterCard). Citibank unsuccessfully tried again in 1977-1987 to create a separate credit card brand, the Choice Card.

Citibank is the leader in international capital market transactions for Pakistani issuers. Through the development of innovative financial products and the ability to successfully tap international capital markets, Citibank has raised long term financing in the form of Global Depository Receipts ("GDRs"), Euro-convertibles and Floating Rate Notes ("FRN")

Citibank has been the leading player in the syndicated loans business. It has nurtured a diverse local investor base, demonstrated by its unmatched track record of raising financing in excess of PKR 20 billion for the local market. Citibank is also one of the leading players in the distribution business, which involves arranging syndicates for Initial Public Offerings ("IPOs"), rights issues and distribution of term finance certificates. As a result of its involvement in these transactions, Citibank has achieved a clear understanding of the various complex regulatory, legal and business issues, that form an integral part of the capital markets business.

Securitisation offers a strategic funding alternative, since it allows for the conversion of assets, with strong cash flows, into a capital source. Citibank has pioneered both local and foreign currency securitisation transactions. It has completed local currency transactions worth PKR 2.5 MMM. Moreover, Citibank successfully arranged the first ever local currency future receivables securitisation in Pakistan Citigroup is the world leading group. It comprise of the 12 % of the total American Economy from the BENAMEX company to the CITIBANK and from the CITISTREET to the SMITH BARNEY there is a limit less structure of global chain of networking and excellent business skills.

In Pakistan Citigroup entered by the name of Citibank. The world leading bank steps in the economy of Pakistan with a lot of new banking skills and innovation to teach the true spirit of banking not only in Pakistan but in all over the world.

CITIBANK enhances its working by an introduction of EMEA Concept that means the EUROPE, MIDDLE EAST, ASIA. This concept had been presented on and off by many financial persons in late 60s but now it is the true time to implement this concept and Citibank has a great responsibility to took this idea from the core keep its momentum high.

1918 With $100,000 in capital to finance Ford "Model T" motor cars, E.M. Morris founds Associates Investment Company in South Bend, Indiana. 1925 Enters the real-estate loan business through affiliate Morris Finance. 1926 Becomes the first finance company to list on the Chicago Stock Exchange. 1930s In the midst of the Depression, enters the full-service insurance business by buying EMMCO Insurance. The Associates is listed on the New York Stock Exchange in 1937. 1951 The Associates becomes the first finance company to offer credit life insurance. 1960 The company’s new logo, the Triangle A, is introduced.

1968 The Associates is acquired by Gulf+Western Industries, Inc., an entertainment, publishing and manufacturing conglomerate, founded in 1956.

1971 Associates First National Corporation is organized.

1972 The company changes its name to Associates First Capital Corporation. 1975 Reece A. Overcash Jr. is named president and chief operating officer. Commercial Discount Corporation is purchased and commercial headquarters are relocated

to Chicago, Illinois. Year-end operating income is $37.1 million and receivables are at $1.8 billion. 1976 The new corporate headquarters opens in Dallas, Texas. 1977 Commercial finance surpasses $1 billion in net receivables. Insurance operations complete the move to Dallas.

1978 Execu-Charge/Visa credit card program is inaugurated. Operating income increases to $74.6 million and receivables are $2.7 billion. 1979 Overcash adds chairman’s title to the chief executive officer title he assumed in 1978. The company expands into international markets as consumer operations are established in Japan and the United Kingdom. 1980 The acquisition of its first "non-bank bank," Fidelity National Bank, is completed and credit card operations are moved to the bank's headquarters in Concord, California. Renamed Associates National Bank in 1982, the bank was liquidated circa 1992. 1982 Chrysler Financial Corporation is extended a $200 million revolving loan agreement.

1983 Standard and Poor’s and Moody’s upgrade Associates’ senior and subordinated debt securities. Receivables exceed $5 billion for the first time.

1984 The Associates becomes the third-largest independent finance company in the U.S. It continues to expand its list of services by adding Kayser Leasing and new Japanese offices. Mortgage banking operations are also established. The Associates achieves its best year ever, with operating income of $234 million, a 22 percent increase over the previous year. Receivables exceed $6 billion. 1985 Stockholders' equity surpasses $1 billion. Standard and Poor’s and other rating agencies upgrade The Associates’ senior and subordinated debt and commercial paper. 1986 Japan operations double in size. Moody’s and Duff & Phelps upgrade The Associates’ senior debt. 1987 The Associates acquires Fruehauf Finance Company, which solidifies its leadership in truck and truck-trailer financing, and Canada Permanent Funding, the U.K.'s second largest second-mortgage lender. Assets exceed $10 billion and credit card receivables top $1 billion.

1988 Great Dane Finance Company, a truck-trailer financing company, is acquired. 1989 The Associates relocates its commercial-lending subsidiary headquarters from Chicago to

Dallas. Assets surpass $15 billion. On October 29, Paramount Communications Inc. (the name Gulf+Western Industries, Inc. assumed in 1989) sells The Associates to Ford Motor Company for $3.35 billion, the largest acquisition in Ford's history. The Associates becomes part of the Ford Financial Services group, one of the largest financial operations in the world. Ford was founded by Henry Ford in 1899 as Detroit Automobile Co. TranSouth Financial becomes part of The Associates. Operating income reaches $508.6 million while receivables are $13.6 billion at year-end. 1990 First full year under Ford results in 14th consecutive year of record earnings. Ford Consumer Finance becomes part of the consumer branch network, adding more than $2 billion in receivables. Mellon Financial Services is acquired, adding 96 offices to the consumer branch network. Associates Insurance Group signs up its 1,000th fleet insurance customer. 1991 The company reports its 15th consecutive year of record earnings. Acquisitions include Kentucky Finance Company, Clark Credit Corporation, ECC Financial and the waste equipment division of Circle Business Credit. The Ford MasterCard/Visa card is introduced. Associates National Bank (Delaware) is established. U.S. assets exceed $21.5 billion and managed foreign assets are $2.2 billion at year-end. Keith W. Hughes is named president and chief operating officer. 1992 First Family Financial Services and Signal Financial Corporation are added to consumer branch operations. Credit card operations introduce a new MasterCard for subsidiaries of GTE Corporation and a deposit-secured bank card for Western Union. Acquisition of TransNational Leasing, Inc. adds about 7,000 vehicles to the auto fleet-leasing division.

1993 75th Anniversary of The Associates. Expansion of consumer finance operation continues with the acquisition of Allied Finance Company. Credit card growth includes acquisition of a 178,000-account portfolio from Great

Western Financial Corporation and a new agreement with Unocal Corporation to offer Visa and MasterCard to its customers.

Number one position as leading source of financing for heavy-duty trucks and truck trailers is solidified by the acquisition of Mack Trucks’ financing arm. 1994

The Associates reports 20 consecutive years of increased earnings. Growth of commercial lending operation continues with launch of TransCapital Services to provide working capital financing and receivables management for transportation clients. Acquisition of Michigan National Corp.’s warehouse mortgage operation and further expansion into Canada also add growth. Initial licenses in Mexico are obtained. Amoco Oil Company's credit card portfolio is acquired, providing entry to the private-label oil credit card market and adding approximately eight million new accounts. Associates adds ATM functionality to Amoco oil card, the first ever private-label card with ATM access.

1995 Keith W. Hughes is named chairman and chief executive officer on February 1, following the death of Reece A. Overcash Jr.

The Associates reports 21 consecutive years of increased earnings. International expansion marks the year, with consumer and commercial operations established in Mexico. The company enters the consumer lending market in Canada and the commercial lending market in the United Kingdom.

The Japan operations, AIC Corporation, grow to more than 300 branches and $2 billion in receivables.

1996 The Associates completes the successful initial public offering of 19.3 percent of Class A common stock, raising $1.9 billion from the sale of 69,000 shares. It becomes the largest publicly traded finance company in the nation. Ford Motor Company continues as majority shareholder (80 percent).

The company acquires Fleetwood Credit Corporation, a financing source for recreational vehicles; certain consumer finance assets of Fleet Financial Corporation; U.S. Fleet Leasing, one of the nation’s largest motor vehicle management and leasing companies; and Teletech Financial Corporation, a Montreal-based provider of telecommunications finance.

1997 The Associates concludes its best year in history, surpassing $1 billion in net earnings and recording 23 consecutive years of earnings increases.

The U.S. consumer operations branch network acquires 29 branch offices and a consumer loan portfolio from American General Corporation.

The company acquires $2.2 billion in credit card receivables and more than 10 million new customers, including bank card portfolios from The Bank of New York, JCPenney and the Texaco private-label oil credit card operation. The Associates now issues two of the top five oil company private-label credit cards. Auto fleet-leasing operations consolidate to form the third-largest U.S. fleet management company. The company expands to two new countries, Taiwan and Costa Rica. Japan surpasses $3 billion in receivables and Mexico expands to more than 40 offices.

1998 The Associates expands international operations in the first quarter through three major acquisitions. The acquisition of CEF Ltd. (Construction Equipment Finance) from the De Lage Landen Group adds more than 6,300 construction equipment finance contracts and $158 million in receivables in the United Kingdom.

The purchase of Beneficial Canada Holdings Incorporated, the Canadian consumer finance subsidiary of Beneficial Corporation, adds 105 offices and C$1.1 billion in receivables. In Japan, the acquisition of DIC Finance, the country's ninth-largest consumer finance company, expands Japan operations by 201 offices. The acquisition of SPS Transaction Services Inc. (now ACS) from Morgan Stanley, Dean Witter & Co. enables the company's credit card operation to embark upon a new market, the retail private-label card business. On April 7, The Associates becomes a fully independent company again with the spin-off from Ford Motor Company in the form of a dividend to Ford shareholders. Associates First Capital Corporation is added to Standard & Poor's Financial 500 Index. The acquisition of The Northland Company allows The Associates to expand its insurance business and complement its existing insurance products.

1999 Just days into 1999, The Associates closes its largest acquisition ever, that of Avco Financial Services, a leading diversified financial-services company with approximately

$8.9 billion in assets, 8,000 employees, 1,265 branches and 2.5 million customers worldwide. The company begins providing loan applications online, following an agreement with America Online (AOL) to become the interactive service’s premier home-equity lender.

In July, The Associates begins offering a revolutionary new product, the "Freedom Loan," which allows on-time customers to lower interest rates on real-estate loans by as much as 2.25 percent over a three-year period. Completes agreement to manage BP Amoco's combined proprietary credit program in the U.S. The company completes its 25th year of record earnings, with $1.49 billion in net income, total managed assets of $95 billion, and managed receivables of $84 billion. 2000 The Associates and KeyCorp agree to jointly manage KeyCorp’s credit card program.

Citibank in Pakistan

Citibank started its operations in Pakistan in 1961 and has a highly respected franchise through our successful delivery of innovative, high-quality banking products and services to its clients. Citibank has many ‘firsts' to our credit including launching the first credit card in Pakistan, pioneering Consumer Asset financing and introducing the first 24 hour, 7 days a week call centre.

CITIBANK N.A. from the start of its launch in Pakistan brought revolutionary concept in Banking in Pakistan this is the first bank who introduced plastic money in Pakistan and the first bank who introduced the Auto Finance in Pakistan. With its innovatory thinking and brilliant new idea of banking to give the top most superior services its banking services are at its top and unmatchable.

In Consumer Banking we introduced Auto Financing and Credit Cards. Home Loans and Personal Loans. With the new concept of Wealth management with JS investments we are launching our new Products the INVESTMENT PRIDE.

CITIBANK N.A also launched Online Banking, Internet Banking and PC Banking in 1990, offering a full service, round-the-clock access to banking. These services cover 26 branches in 9 cities and are available to. We are proud of the way technology is benefiting our customers and look forward to introducing further benefits.

What service do we provide to our clients? Citibank has been operating in Pakistan for over 40 years and has successfully delivered on its commitment to provide consumers, corporations and institutions with a broad range of financial products and services. Combining some of the most respected brands in the financial services business - the Global Consumer Group (GCG) Pakistan is uniquely positioned to offer a complete array of financial products. GCG has demonstrated its ability to identify market needs and develop products which are unique in concept and fulfill customer requirements. The aptitude to develop lifelong relationships while maintaining quality measures and technological efficiencies has assisted Citibank in becoming a true market leader. Powerful distribution networks, electronic channels, myriad of financial products which cater to customer mix, broad product capabilities - this is what is needed to succeed in the volatile markets of today. This is what allows us to offer institutes worldwide the right financial solutions - every time, all the time. GCG Pakistan is composed of three distinct business divisions: Branch Banking is committed to providing its clients the highest level of service possible. Recognized as a leader and a trendsetter in the financial markets, branch banking strives to achieve Citibank's global objective of customer satisfaction and quality through well- diversified and innovative product offerings such as Citi Blue, Citigold and wealth management. A team of highly committed professionals are dedicated to provide a comprehensive solution to meet the financial needs of individuals and small businesses.

With a wide network of branches and ATM centers in all the major cities of Pakistanthe Citibank brand has been built on our overarching belief that customer trust and satisfaction are the basis of business success. Cards & Insurance Business Pakistan is an integral part of International Cards, a division of Citigroup and one of the largest international credit card issuers in the world, with operations in over 40 countries across six continents (excluding the U.S. and Canada). In Pakistan, cards are issued on the MasterCard and Visa payment systems across 8 major cities. These also include co-branded cards with Mobilink and Caltex and the highly

differentiated Clear Card. Cards & Insurance Business Pakistan contributes approximately 60% of the revenue and profitability to the Citi Pakistan's consumer franchise. Retail Assets as a business group refers to Installment Based Financing products. It constitutes of both secured & unsecured lending. Currently it has four products in its portfolio i.e., Personal installment loans (PIL), Auto Loans, Home loans and Sales Finance. Business is currently working on two other products to be launched by the end of this year i.e., Ready Credit and Business Finance. These are revolving lines and can be referred as extension of PIL and home loan installment products. Our aim is to provide solutions to customer’s specific needs through most convenient and affordable products.

How are we structured: • Branch Banking • Retails Assets • Cards • Operations and Technology • Credit • Human Resources • Financial Control Legal and Compliance • Legal and Compliance • Global Consumer International

Citibank is the leader in international capital market transactions for Pakistani issuers. Through the development of innovative financial products and the ability to successfully tap international capital markets, Citibank has raised long term financing in the form of Global Depository Receipts ("GDRs"), Euro-convertibles and Floating Rate Notes ("FRN")

Citibank has been the leading player in the syndicated loans business. It has nurtured a diverse local investor base, demonstrated by its unmatched track record of raising financing in excess of PKR 20 billion for the local market. Citibank is also one of the leading players in the distribution business, which involves arranging syndicates for Initial Public Offerings ("IPOs"), rights issues and distribution of term finance certificates. As a result of its involvement in these transactions, Citibank has achieved a clear understanding of the various complex regulatory, legal and business issues, that form an integral part of the capital markets business.

Securitisation offers a strategic funding alternative, since it allows for the conversion of assets, with strong cash flows, into a capital source. Citibank has pioneered both local and foreign currency securitisation transactions. It has completed local currency transactions worth PKR 2.5 MMM. Moreover, Citibank successfully arranged the first ever local currency future receivables securitisation in Pakistan

Operating Environment With over 1100 employees in Pakistan, we operate through two major business lines; our Global Consumer Group and our Markets & Banking business, providing a variety of services to more than 200,000 consumer and corporate clients respectively. We have steadily expanded our network over the last two years and now have 23 branches and 39 customer contact points across 10 cities in Pakistan.

Financial Performance

Becoming more accessible to our clients investing where opportunities for growth are highest opened nearly 1,200 new retail bank and consumer .Expanded our presence in Central America and established-finance branches around the world lashed a strong platform for future growth in our retail and corporate businesses. Launched an ATM partnership with 7-Eleven and expanded our Cards partnerships with, among others, Shell and The Home Depot Broadened our reach in one of the world’s fastest-growing more clients and deepen relationships with them markets, Turkey, by acquiring a 20 percent stake in Akbank, its third-largest and most profit table bank Introduced Direct Custody and Clearing services in Cyprus, Sweden, Israel, Slovakia, and Vietnam Expanded our presence in China with a 20 percent stake in Guangdong Development Bank Launched Citibank Direct,

Our online bank, bringing in close to $10 billion in deposits in the U.S. in the first acquired Egg Banking plc, an important step toward nine months broadening our international Consumer banking business Opened Markets and Banking offices in Kuwait Deepened our presence in India by raising our stake in and Dubai Housing Development Finance Corporation Limited HDFC) to 12.3 percent Pioneered securities lending in Taiwan Completed the acquisition of the Federated Department Expanded Global Equities into Russia, India, Stores, Inc. portfolio and now manage 37 million accounts the Middle East, Brazil, and Canada. And if we see business in Pakistan this bank has performed tremendous results by getting the maximum profit of last 15 years and getting the boost of 12 Million Dollar in Annual granule growth.

Business Lines Brought the power of one Citi to our Citi Smith Barney, Citibank, Citi Mortgage, Citi Cards, and Student Loan clients by offering a broader array of products——retail banking, commercial lending, mortgages, investments—through pilot programs in our Boston and Philadelphia Financial Centers Worked with our Consumer Lending Group to deepen client relationships, including offering Citi home equity loans to Cards clients Began offering Citibank products in select Citi Financial branches in the U.S. offered home equity loans and Citi credit cards through Citi Smith Barney branches Started Bank at Work in eight countries: Chile, Czech Republic, Korea, Malaysia, Pakistan, the Philippines, Singapore, and Turkey Created partnership between Global Transaction

Services and Citi Smith Barney to distribute stock plan proceeds in local currency in more than 130 countries Launched a Hedge Fund initiative to connect experts across Markets and Banking to better serve this important client segment. 3 major internal business organizations Global Consumer Group: retail consumer Corporate and Investment Banking: corporate and institutional clients Global Wealth Management: brokerage and high net worth clients High degree of autonomy in operations, product management and sales all exist globally

Outlook Citigroup is the world leading group. It comprise of the 12 % of the total American Economy from the BENAMEX company to the CITIBANK and from the CITISTREET to the SMITH BARNEY there is a limit less structure of global chain of networking and excellent business skills.

In Pakistan CITIGROUP entered by the name of CITIBANK N.A. The world leading bank steps in the economy of Pakistan with a lots of new banking skills and innovation to teach the true spirit of banking not only in Pakistan but in all over the world.

CITIBANK enhances its working by an introduction of EMEA Concept that means the EUROPE, MIDDLE EAST, ASIA. This concept had been presented on and off by many financial persons in late 60s but now it is the true time to implement this concept and Citibank has a great responsibility to took this idea from the core keep its momentum high.

In this report we can see how the CITIGROUP first came in to being and what were the hurdles faced by this group in the early 20th Century and what are the key factors which made this Group one of the strongest group in all over the world.

In Pakistan what are the main products this group is giving and what are the future plans of this group. What are the reasons that this group has chosen the third world country (Pakistan) in 1962? What are the key areas where this group wants to invest and the banking in Pakistan is quite changed by the arrival of multinational groups.

What are the future challenges this Bank will have to face in future and what are the precautionary measures this group is taking in order to face the challenges of upcoming rivalry.

The main rivals of CITIBANK N.A in Pakistan are also discussed in this report SWOT analysis of Citibank N.A is also at your service.

Why Bank is important? Banks play very important role in the economic life of the nation. The growth of the economy is closely related to the soundness of its banking system. Although banks create no new wealth but they borrow, exchange and consume wealth. In this way, they become very effective partners in the process of economic development. Modern banks are very useful for the utilization of the resources of the country.

The basic role of the banks is to encourage the habit of savings among the people and to mobilize these savings for the investment purpose. Banks deposit surplus form the public and then advance these surpluses in the form of loans to the industrialists, agriculturists, businessmen and unemployed people under different schemes so that they set up their own business. Thus banks help in capital formation.

If there are no banks, then there would be concentration of wealth in few hands and the great portion of capital of the country would remain idle. In the fewer developing countries rate of saving is very low and due to this, rate of investment and rate of economic growth remains very much low. We can take bank just like a heart in the economic structure and the capital provided by it is like blood in it.

As long as the blood is in circulation, the organs will remain sound and healthy. If the blood were not provided to any organ then that organ would become useless. So if the finance is not provided to agriculture sector or to industrial sector, it will be destroyed. Loan facility provided by the bank works as an incentive to the producer to increase production. Banks provide transfer of payment facility, which is cheaper, quicker, and safe. Many difficulties in the international payment have been overcome and volume of transactions has been increased. These facilities are very much helpful for the development of trade and commerce.

COMMERCIAL BANKING IN PAKISTAN It was very difficult for Pakistan to build up its own Banking system immediately after independence without sufficient resources. Following the announcement of the partition plan in June 1947 there was a haste movement on the parts of banks to transfer their funds and accounts across the borders. The banks having their registered offices in Pakistan were transferred to India. In an effort to bring about the collapse of the new state by the persecuting an international policy of withdrawal, the Indian bank offices closed quickly. Those banks, which stayed, were considering the winding up of their business. By 30th June 1948 the number of schedule banks in Pakistan declined from mere scratch. Today there are more than 7000 branches of commercial banks along with an established network of supplementary financial institutions. All this development in the banking sect is the result of untiring efforts of four decades.

Management Hierarchy

COUNTRY HEAD COUNTRY BUSINESS MANAGER TREASURY HEAD

MARKETING HEAD DISTRIBUTION HEAD LEGAL HEAD BUSINESS HEAD EXTERNAL SALES AREA SLAES MANAGERS BRANCH MANAGERS

RELATIONSHIP MANAGERS

CUSTOMER RELATION OFFICERS

NAME

JOB TITLE

Sumor, Zubair

Country Head

Noor, Aftab Ahmed

Country Business Head

Ahmed, Aliuddin

Treasury Head

Ahmed, Shiraz Jamil

Finance Manager

Alvi, Azim (Azim)

Credit Risk Manager

Alvi, Mutahir

Business Manager

Chaudhary, Umair Bashir

Operations Head

Fareed, Muhammad Umer

Marketing Head

Magsi, Amna Mahboob

Public Affairs Officer

Pereira, Tania

Secretary

Siddiqui, Naeem

Cards Head

PRODUCTS:

Local Currency Accounts: Open a CitiOne account with a minimum of Rs. 50,000 and enjoy convenience and benefits. •

Free bank statement.

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First cheque book absolutely free.

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Free 6 pay orders per month.

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Reduced Debit Card annual fee.

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Preferred rates for auto and personal loans.

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Annual fee waiver for the first year on Citibank Credit Cards.

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Convenience of Citibank online CitiOne - The all in one bank account.

The all in one bank

account. Demand Drafts & Managers Cheques. Save a trip to the bank whenever you need a draft made from your Current Account. Just call CitiPhone Banking or log on. These drafts can be picked up from your Citibank branch at your convenience or delivered to you via courier service to your house or business address. Phone Bills Payment Now you can pay all your phone bills through just one phone call from home or while at work. Citibank Current Account gives you the convenience of paying** •

All phone bills (PTCL, Mobilink, Instaphone and Paktel) by phone anytime of the day or night

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2 bills at a time

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All phone bills, even of your residence's or office's and your family's and friend's

Citibank Current Account gives you a unique service, now you don't have to come to the bank, stand in never ending queues and waste your precious time. You do your work and leave the payments of the phone bills to CitiPhone Banking.*

* Cash withdrawal of amount exceed Rs 25,000 shall be subjected to withholding of advance income tax @0.1%, applicable as per Central Board of Revenue CIR# **Call at least 2 days prior to the due date of payment

Citibank Debit Card Introducing the new Citibank Debit Card More than an ATM Card with everything you want from a Credit Card

The Citibank Debit Card. Introducing the new Citibank Debit Card

Secure: It is safer than carrying cash, has your signature for easy identification, and allows you to define your monthly purchase limit. You can even opt for a Photo Debit Card for added security. Convenient: Pay directly from your account for purchases made using your Citibank Debit Card which is accepted at over 10,000 retail outlets in Pakistan. Global Acceptability: Citibank Visa Debit Card is accepted at all VISA merchants having electronic terminals, in Pakistan and around the world. PLUS: Other superior Citibank Account features like 24-hour Internet & CitiPhone Banking, personalized relationship managers etc., are available. All at a low annual fee of Rs. 500*. The annual fee has been waived for CitiGold customers! 24-hour Internet Access: Now with Citibank Online (CBOL), you can track up to the minute activity on your Citibank accounts over the internet with a click of a button!

Credit Cards

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Citibank Gold & Silver Credit Cards Citibank Gold Credit Card

The Citibank Gold Credit Card is specially designed for you, your exclusive life style and your special needs. As a Gold Credit Cardmember you enjoy a higher Credit Limit throughout the world. If you have a monthly income of Rs.50,000 or above, and you are a Pakistani citizen, then you are eligible to apply for a Citibank Gold Credit Card.

Citibank Silver Credit Card

The Citibank Silver Credit Card brings you the convenience and financial flexibility you can expect from the World's No. 1 Credit Card. The Silver Card is a truly international Credit Card offering unmatched features and benefits and complete peace of mind. If you have a monthly income of Rs.16,000 (Rs 8,000 for selected corporate employees) and are a citizen of Pakistan then you are eligible to apply for a Citibank Silver Credit Card. .