This is to clarify that the information published lately on Citi’s consumer portfolio sale is factually incorrect. Citi is not closing its consumer business in Pakistan and its commitment to the country remains unaltered.

Citi continues to focus on its consumer business (Liabilities products and Bancassurance products) in order to provide best-in-class services to its select consumer banking customers in the major cities of Karachi, Lahore, Rawal-pindi and Islamabad. The bank continues to explore options to consolidate its Consumer asset portfolio in Pakistan and will keep its customers regularly updated on any further developments in this regard.

This is the bank’s 200th year globally - Citi Pakistan (which completed its 50th year in the country last year) is a healthy franchise and is core to Citi’s emerging market footprint.