KARACHI, Dec 31: Citibank N.A. (Citi) on Wednesday announced it has enhanced its capital position in Citi Pakistan with an injection of Rs2.2 billion ($27.5 million) taking the total capital of its Pakistan branches to Rs7.7 billion, says a press release.

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 our 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,” he added.