Head of internship committee. Department Of Business Administration Bahauddin Zakariya University Multan Sub Campus Sahiwal

Muhammad Umair Waqas BBA(Hons.) 6th semester Roll no: BBS-06

Department Of Business Administration

Bahauddin Zakariya University Multan Sub Campus Sahiwal



Banking sector owes a pivotal importance in the economy of any country through its vibrant functions. That is why being a banking and finance student it was necessary for me to select a bank for learning purpose so that I can learn various banking methods and technique not only to enhance my knowledge but also to implement them on practical grounds This report is an upshot of my internship experience in Citi Bank, Main Branch, Garden Town, Lahore . CITI Bank posses an imperative and historical importance in the banking sector of Pakistan. My work of these six weeks gave me great practical knowledge banking system but I strongly belief in a proverb" nothing is perfect" there remains a room of improvement in every effort for new ideas and more research and knowledge. My present effort is also a ring of this chain. I have strong belief that this report will guide and ease the readers to understand the operations of banking system and more prominently have good knowledge about CITI BANK, one of the most trusty and Leading banks in Pakistan

Muhammad Umair Waqas


but also encouraged me to do new things that promote a very creative environment for research. At the end I am very thankful to all those persons who helped me in completing this report. they allowed me to expand my expertise in many areas of banking sector.ACKNOWLEDGEMENT I am highly grateful to Almighty Allah who gave me the power to complete this report. A special thanks to Mr. Abrar Najeeb from the bottom of my heart for their direction & guidance throughout my project.A” and especially “Mr. Aamir Ali Mehdi Collection Head of the North Region . Moreover. it would be almost an unending list of persons who helped me in one way or other but then it would be great injustice on my part not to mention the names of those who provided me the required information and cooperation. I perhaps would not been able to write what I have written. They not only provided the necessary material & thoughts. After that without the encouragement and help of my fellows & my teachers. Tanvir Bashir “Management & Analytical unit N. and also to all related departments and above all my own department of Citi Bank main branch Lahore who helped me a lot in preparing my report . 4 . I am really thankful to all Heads of the departments in the main branch for their co-operation during my Internship. I pay thanks to Mr.

In 2008.’ or through timely transfer of expertise particularly in areas related to the advancement of the local financial sector and employee volunteerism. Citi Pakistan developed industry-leading initiatives and delivered bestin-class programs. we remain committed to fulfilling our corporate responsibilities through initiating programs that meet the needs of communities across the country. 5 . and services to our nonprofit partners and the communities they serve. Citi Pakistan strives to join its partners in addressing community challenges through honest. We take our responsibility towards our community very seriously. In 2007. constructive and meaningful dialogue. Be it through its philanthropic arm ‘the Citi Foundation. and continues to be energetic in its support for projects and initiatives that seek to develop the community.EXECUTIVE SUMMARY Consistent with Citi’s goal of being the most respected financial services company. And in order to fulfill our global corporate responsibilities. we are committed to providing programs and solutions that meet the needs of communities across Pakistan. and its corporate philosophy which emphasizes shared responsibility to the communities where we live and work. Citi has been. Citi Pakistan remains committed to making a difference. Therefore. In Pakistan. we will continue to engage in open and honest dialogue with our partners and to work with them to proactively seek solutions. products.

TABLE OF CONTENTS Introduction to city bank Early history Citi bank Pakistan Citi bank’s world Global consumer bank Global corporate and investment bank Milestones Commercial banking Corporate banking Work done by me Financial analysis Latest news about Citi bank Bibliography 6 .

claiming about 15 million users.INTRODUCTION TO CITI BANK Citibank is a major international bank. one of the largest companies in the world. later First National City Bank of New York. Chicago. As of March 2007. and Washington DC metropolitan areas. as well as in California. Citibank offers insurance.400 offices are in the United States. it is the largest bank in the United States by holdings. More than half of its 1. In addition to the standard banking transactions. Citibank has operations in more than 100 countries and territories around the world. founded in 1812 as the City Bank of New York. Citibank is now the consumer and corporate banking arm of financial services giant Citigroup. Miami. 7 . credit card and investment products. mostly in the New York City. Their online services division is among the most successful in the field.

S. the Company had approximately 134.S. including (i) raising an aggregate of $45 billion through the sale of Citigroup non-voting perpetual. the Company announced realignment. 2009.100 part time employees in the United States and approximately 188. the Company. government entities. The Company is a bank holding company within the meaning of the U. In addition. the Board of Governors of the Federal Reserve System (FRB). Department of the Treasury.S.S. Some of the Company’s subsidiaries are subject to supervision and examination by their respective federal and state authorities. the Company benefited from substantial U.75 billion of senior unsecured debt guaranteed by the Federal Deposit Insurance Corporation (FDIC) (in addition to $26. At December 31. cumulative preferred stock and warrants to purchase common stock to the U. Citigroup has agreed not to pay common stock dividends in excess of $0. Citigroup was incorporated in 1988 under the laws of the State of Delaware. (ii) entering into a loss-sharing agreement with various U. During 2008.Citigroup Inc.S.0 billion of commercial paper and inter bank deposits of Citigroup’s subsidiaries guaranteed by the FDIC outstanding at the end of 2008).S. Citi or Citigroup) is a global diversified financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers. together with its subsidiaries. government. Citigroup has more than 200 million customer accounts and does business in more than 100 countries.400 full-time and 4. and (iii) issuing $5. government financial involvement. government entities covering $301 billion of Company assets. In connection with these programs and agreements. (Citigroup and. and subject to examination by. Bank Holding Company Act of 1956 registered with. 2008. On January 16. for management and reporting 8 . Citigroup is required to pay consideration to the U.01 per share per quarter for three years (beginning in 2009) or to repurchase its common stock without the consent of U.400 full-time employees outside the United States. including in the form of dividends on the preferred stock and other fees.

New York. The principal executive offices of the Company are located at 399 Park Avenue.S. telephone number 212 559 1000. as well as the Company’s other filings with the Securities and Exchange Commission (SEC) are available free of charge through the Company’s Web site by clicking on the “Investors” page and selecting “All SEC Filings.” 9 . Citigroup’s recent annual reports on Form 10-K. New York 10022. These transactions are intended to increase the Company’s tangible common equity (TCE) and will require no additional U. On February 27. primarily comprised of the Company’s brokerage and asset management business. quarterly reports on Form Additional information about Citigroup is available on the Company’s Web site at www. primarily comprised of the Company’s Global Institutional Bank and the Company’s international regional consumer banks. the Company announced an exchange offer of its common stock for up to $27. local consumer finance business. and a special asset pool. government investment in Citigroup.25 per share.citigroup.5 billion of its existing preferred securities and trust preferred securities at a conversion price of $3. government will match this exchange up to a maximum of $25 billion of its preferred stock at the same conversion price. and Citi Holdings. See “Outlook for 2009—Changes to Citi’s Organizational Structure” on page 7. The U. 2009. into two businesses: Citicorp. Citigroup believes that the realignment will optimize the Company’s global businesses for future profitable growth and opportunities and will assist in the Company’s ongoing efforts to reduce its balance sheet and simplify its organization. current reports on Form 8-K.S.

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respecting local cultures and taking an active role in the communities it operates in. Business 11 . It has many ‘firsts’ to its credit including launching the first Credit Card in Pakistan. it aims to play an important role in the global economy and stands by its principle of always putting its clients’ interests first.CITI BANK PAKISTAN History Citi’s goal is to be the most respected global financial services company. acting with the highest level of integrity. the 1st 30 year US$ Sovereign Bond and the first equity offering in over a decade. including issues of the 1st Foreign Currency Sukuk. high-quality banking products and services to its customers. pioneering Consumer Asset financing and introducing the first 24x7 call centre. As a great institution with a unique and proud history. It is also the leading bank in Pakistan for delivering Export Agency and Multilateral financing and has been instrumental in the development of Pakistan’s market for derivatives and other treasury products. Citi has been operating in Pakistan since 1961 and has a highly respected franchise through its successful delivery of innovative. Citibank has been at the forefront of the financial sector reform process and has been the lead bank in taking the Government to international capital markets.

Citi has steadily expanded its network over the last two years and now has 23 branches and 39 customer contact points across 10 cities in Pakistan. Citi Pakistan operates through two major business lines. CITI BANKS WORLD Combining some of the most respected brands in the financial services business -. Global Consumer Bank Citibank Pakistan has demonstrated its ability to identify market needs and develop products which are unique in concept and fulfill customer requirements.100 employees. through its philanthropic arm. Citi.are uniquely positioned to offer a complete array of financial products. providing a variety of services to more than 200. the Citi Foundation.658.000 consumer & corporate clients. continues to support several initiatives in Pakistan in the areas of Corporate Governance.the Global Consumer Bank and the Global Corporate Investment Bank . Community In an effort to play an active role in the development of the communities it operates in.the Global Consumer Group and Citi Markets & Banking. Over the past 4 years a total of $2. Citigroup operates in a global economic environment which requires the expertise of a true market leader. 12 . Microfinance development and Financial Education.000 has been allotted as grants to various social sector partners in pursuance of this goal.With more than 1.

of every level of complexity. Global Corporate and Investment Bank Corporate and investment banking clients include corporations at every stage of development. Powerful distribution networks. and back them with a wide distribution network. Catering to the changing needs of corporations and leveraging on long term relationships.every time. electronic channels. myriad of financial products which cater to customer mix.this is what is needed to succeed in the volatile markets of today.The aptitude to develop lifelong relationships while maintaining quality measures and technological efficiencies has assisted Citibank in becoming a true market leader. we execute transactions of almost any size. all the time. Every customer is served by a versatile team of relationship managers who ensure in-depth knowledge of trends and opportunities while synchronizing their financial activities. broad product capabilities . 13 . This is what allows us to offer institutes worldwide the right financial solutions .

MILESTONES Citibank Pakistan's Milestones of the 90's 14 .

15 .The nineties were a decade of domination and leadership for Citibank in the Pakistani marketplace and the trend continues into the new millennium.

Free Pre-approved Credit Card with each car).199 0 199 2 • Consumer Bank was established. Citibank. N. Consumer Asset Business is launched. CitiPhone Banking launched. N. Car Financing Product Feature enhancement (25% Down Payment. pledges a donation to LUMS for their "Students Aid Program". Car Financing is introduced. First foreign bank to launch MasterCard in Pakistan. launches its Intranet System in April. This branch has the first 24-hour zone with ATMs and CitiPhone booths. N. Citibank. Citibank Visa Card (Gold and Silver) is launched.A. in November holds its first ever Car Financing Dealer conference in Bhurban. 0% Down Payment product for your second car. Self-Service Banking launched. N. Citibank wins over 35 awards under the Euromoney Excellence Awards. Citibank. 16 The cards business launches the first ever Co-brand Credit Card in • • • • • 200 0 • • .A. Citibank. First bank to launch a Photo Credit Card. opens its sixth branch on Shahra-e-Faisal in Karachi in December. • • • Citibank. is the first Financial Institution to launch Personal Loans in Pakistan. Citibank Home Loans is launched. These awards included "Best Bank" and "Best Emerging Market Bank" for two successive years. N.A.A. 199 8 199 9 • Citibank launched Pakistan's first affinity card known as the "Citibank-Shaheen Credit Card". CitiGold Priority Banking is established. Complaint Tracking System (CTS) launched.A. • • • • 199 4 199 5 199 6 • • • • 199 7 • • Citibank and IBA develop an MBA program focused on Marketing of Financial Services (MFS).

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and services to our nonprofit partners and the communities they serve. products. Citi Pakistan remains committed to making a difference. and Educational Institutions. Citibank performs banking activities over 100 countries around the world and now brings its experience to those companies who think big. In 2007. Food & Allied. Small and medium sized companies have started finding solutions to their banking needs through the Commercial Banking Group. We are committed to delivering the best possible products and services and our success is continually acknowledged through recognition such as Euro week magazine’s award for best book runner of Asian currency bonds and Finance Asia magazine’s award for Best Cash Management Bank. 18 . and continues to be energetic in its support for projects and initiatives that seek to develop the community.COMMERCIAL BANKING The Commercial Banking Group offers comprehensive solutions to meet the needs of small and medium sized companies. which constitute Pakistan’s core business environment. Citi Pakistan developed industry-leading initiatives and delivered bestin-class programs. Traders. Be it through its philanthropic arm ‘the Citi Foundation. You can benefit from Citibank’s support.’ or through timely transfer of expertise particularly in areas related to the advancement of the local financial sector and employee volunteerism. In Pakistan. Citi has been. Chemicals. The Citibank brand has been built on our overarching belief that customer trust and satisfaction are the basis of business success. Consumer Durables. Its portfolio management team is specialized in sectors such as Textiles. Auto Vendors.

Rupee Current Account 2. Therefore.In 2008. Local Currency Deposits 2. Citibank Premium Profit 6. CitiOne 19 . we will continue to engage in open and honest dialogue with our partners and to work with them to proactively seek solutions. Rupee Savings Account 3. And in order to fulfill our global corporate responsibilities. Local Currency Deposits 1. Personal Banking 1. Home Loans 6. we remain committed to fulfilling our corporate responsibilities through initiating programs that meet the needs of communities across the country. Current Account Premium 5. Insurance 1. Credit Cards 4. Debit Cards 5. We take our responsibility towards our community very seriously. Rupee Citi Ultimate Account 4. Foreign Currency Deposits 3. we are committed to providing programs and solutions that meet the needs of communities across Pakistan.

Foreign Currency Accounts Citibank Foreign Currency Account provide you financial value and great transactional convenience. 1. 24 hours a day. US Dollar. Euro. Premium FCY Accounts 2. Great Britain Pound Sterling. Savings Account 3. Take a look at their features and you will know why. iii. SERVICES OFFERED: i. Premium FCY Accounts Savings Account Term Deposit 20 . Term Deposit CURRENCIES: You can open an account in any of the below mentioned currencies. 365 days a year. ii. 1.2. 2. 3.

Gas Stations Spending Limit 2. E-card 8. New Minimum Pmt Policy 3. Citi Mobilink Credit Card 4.Credit Cards: 1. Citibank Gold & Silver Cards 7. Citibank Shaheen – 9. Citibank Clear Card 6. Citibank Caltex Credit Card 5. Affinity Credit Card Citi Classic & Gold Cards Get a low rate and all the buying power you need Citi Mobilink Card Earn 5 Talk Points to redeem for Free Air Time Citi Caltex Card Earn up to Five Points to redeem for Free Fuel Citi Clear Card Fantastic discounts at your favorite spots 21 .

so is my CARD! Overview Here is a Credit Card that not only looks good. you can look and feel good and stay ahead in life. It comes with 3 Free Supplementary Cards and not only Mega Deals! but exciting discounts from leading brands but also free tickets.. With your Citibank Clear Card. but gives you more out of life. Hip & Happening Events and Entertainment.. Lucky Draw Prizes and privileges to Fun filled.Citibank Clear Card My Choices in life are CLEAR. & a whole lot more. 22 . An extraordinary complimentary package filled with free gifts & leading incredible discounts on everything from dining to music to travel.

50. and you are a Pakistani citizen. Citibank Silver Credit Card 23 . your exclusive life style and your special needs. As a Gold Credit Card member you enjoy a higher Credit Limit throughout the world. then you are eligible to apply for a Citibank Gold Credit Card.000 or above.Citibank Gold & Silver Credit Cards Citibank Gold Credit Card The Citibank Gold Credit Card is specially designed for you. If you have a monthly income of Rs.

the Citibank E-Card is packed with unique advantages for shopping on the Internet. If you have a monthly income of Rs.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.16.000 for selected corporate employees) and are a citizen of Pakistan then you are eligible to apply for a Citibank Silver Credit Card. This means convenience. Citibank e-card Shop with peace of mind on the Internet through your Citibank E-Card! As the first Internet Shopping Card in Pakistan.000 (Rs 8. fabulous discounts and much more 24 . security.

Citibank Debit Card Introducing the new Citibank Debit Card More than an ATM Card with everything you want from a Credit Card 1.000 retail outlets in Pakistan. Global Acceptability: Citibank Visa Debit Card is accepted at all VISA merchants having 4. 25 . in Pakistan and around the world. 3. Secure: It is safer than carrying cash. You can even opt for a Photo Debit Card for added security. and allows you to define your monthly purchase limit. Convenient: Pay directly from your account for purchases made using your Citibank Debit Card which is accepted at over 10. 2. electronic terminals. has your signature for easy identification.

Health forever protects you against these costs for a small premium payment.Insurance 1. With Health Forever Citibank customers get protection against medical costs arising as a result of an accident or sickness and include life insurance as a built-in feature. 26 . Health forever assures you of the best medical treatment. so you can forget about what might happen tomorrow and start living today. Health Forever 2. Credit Shield Plus 4. Life Plus 3. Secure Wallet Plan 6. so that you stay prepared for any eventuality. Family Protection Plan 5. Savings Plan Health Forever Life is all about being prepared Life is all about being prepared. That’s why it is important to plan ahead for emergency medical costs.

Citibank Credit Shield Plus If the unexpected happens. if you are unable to pay the minimum amount because of temporary disability. you are covered. the underwriter will pay on your behalf. the underwriter will pay the beneficiary ( appointed by the Card member ) an equal amount of the outstanding on Citibank Credit Card balance. In the event of an accidental death. Credit Shield Plus offers you peace of mind by helping you pay your Citibank Card payments when you are not able to. 27 . Under this cover. Credit Shield Plus is now available with Double Indemnity which provides for an additional payment equal to the outstanding on Citibank Credit Card to the beneficiary nominated in case of accidental death. the underwriter will pay the entire total balance on your Citibank Credit Card. In the unfortunate event of prolonged critical illness. Citibank Credit Shield Plus gives you total peace of mind by insuring you against unforeseen emergencies concerning your health and life. permanent disability or even death. so your loved ones will not be burdened with these payments.

.Citibank Credit Shield Plus provides insurance coverage on occurrence of the following events Family Protection Plan Express your love.. The Family Protection Plan is a personal accident insurance policy that provides coverage on a 24-hour worldwide basis against the following: • • • Accidental Death Permanent Total Disability Accidental Medical Expenses 28 . Protect your family's future Express love for your family by ensuring their lifetime happiness & security. Get a continued insurance cover for them with the Family Protection Plan by AIG.

This is the only insurance plan that covers you against all the following risks: 29 . Insure your wallet against loss or theft! Citibank Secure Wallet Plan is the ultimate protection for your wallet.000.000 Secure Wallet Plan There is a better way to secure your wallet. 1. 165 Accidental Death (AD) & Permanent Total Disability (PTD) Rs. The sums insured and monthly premium amount payable on account of sums insured are stated below: Benefit Medical Reimbursement per month Coverage Rs.000 Premium Rs.Premium will be charged on your credit card or debited from your bank account on easy monthly instalments. 25.

the leading insurance company in the world. Insurance coverage is available worldwide for 24 hours a day. Savings Plan Your Family’s Hopes Depend on you.• • • • Loss or theft of your credit card(s) Loss or theft of your keys and identification papers Death or disability (due to theft/robbery) ATM Cash Withdrawal Cover (due to theft/robbery) Enjoy complete peace of mind while you are shopping.securing your credit cards. as Secure Wallet Plan provides your wallet with the protection it needs . All financial losses are underwritten by AIG . 30 . keys and identification papers. It’s a flexible policy that combines Savings with Life Cover. Saving Plan ensures it doesn’t end with you! Why Savings Plan? This plan offers you a Financial Solution enabling you to spread the financial outlay of regular premium payments over the term of the policy. be they of Citibank or any other bank. at work or anywhere in the world.

1. 160. 31 . our goal has always been to provide you with better facilities and greater convenience. Make a deposit (cash or cheque) – this feature is only available at ATMs located in Citibank branches. • • • • Global Access Citibank ATMs At Citibank.Key Benefits of Savings Plan Policy • Lump sum payment of Rs.000 per day. No Medical Checkups required. Guaranteed minimum Annual Yield of 4% on accumulated cash value. 3.000 without any extra charge in the event of Accidental Death of the parent (life assured).000 ATMs worldwide 2. Access to over 850 machines in 30 cities & over 360. Partial Withdrawal & Loan Facility available for key milestones in your child’s life.1.000. Hedging option available to protect accumulated cash value against inflation. Withdraw up to Rs.

Get a Mini-Statement. Transfer funds with-in your Citibank accounts CITIBANK ONLINE (CBOL) Citibank Online Internet banking gives you the power and convenience to perform most of your banking activities from the comfort of your home or office. You can: • Check your account details including balances. Credit card balances and other loan details Transfer between your accounts with Citibank Pakistan Transfer money to another Citibank customer in a matter of seconds Make a Request for demands drafts and local currency manager’s checks Pay your Utility bills Order account statements or new cheque books • • • • • 32 . 6. any time of the day or night. Get US dollars – this feature is only available at ATMs located in Citibank branches. 5.4.

The payment process is graphically presented below: C o r p o r a t e Banking 33 . Citibank gives you the convenience of a back up manual machine. Additionally. Citibank offers Electronic Data Capturing machine for card acceptance at the POS through ORIX network.CORPORATE BANKING Citibank Merchant Services Become a Citibank Merchant Citibank has the distinct advantage of being the largest acquiring bank in Pakistan. in case of power failures. Currently. we have approximately 5000 merchants. We provide state of the art merchant services that are distinctively superior to any other acquiring bank in Pakistan.

1. Cash Management 2. Treasury 3. Corporate Bank 4. Financial Institutions 5. Investment Banking

Cash Management
Corporate and financial institutions are constantly faced with practical problems of handling and collecting cash under various diverse regulatory, political and cultural environments. How does a company collect its sale proceeds from remote upcountry regions? Which instruments ensure both quicker receipt of funds and minimize credit risks? How does a company pay its regular suppliers without keeping numerous bank accounts for various locations and then reconciles them periodically in a highly manual / paper-based environment? Cash management is a core business for Citibank. Commitment to service quality and an ability to adopt new technologies are the components of Citibank's Cash Management strategy. Our experience in the local Pakistani market along with our ability to provide global solutions enables us to offer a full range of cash management products and solutions. These products are aimed to help maximize resources while providing you with value-added solutions to meet your needs. Citibank Pakistan offers its cash management products and services aimed to improve the cash flow side of the business and operations. Citibank also focuses on delivering time critical information to directly impact the business efficiency. Through its elaborate product offering, Citibank aims to:

Manage the increasing complexity of cross-border and domestic payments


• • • •

Improve cash flow forecasting under a cost control environment Limit the exposure to risk associated with growth Enhance security of the cash flows and reduce the possibilities of fraud Improve overall working capital flows via adding efficiency to the overall operations

In an exceedingly volatile economic environment, Citibank's Treasury department emerges as a leader in the local interbank market, as well as the institution of choice amongst importers and exporters, by providing superior treasury products to its clients. Apart from dealing in Foreign Exchange (FX) and Money Markets, the Interbank desk participates actively in all Central Bank operations, including T-Bill Auctions and Open Market Operations. The main products traded on the FX desk include Ready and Spot Outright Purchases/Sales as well as Swaps, while the Money Market desk deals primarily in Repo and Reverse Repo transactions. The Treasury Marketing Unit (TMU) has been designed to serve the needs of corporate customers. With the recent deregulation in the foreign exchange market and the resulting increase in volatility, Citibank has tailored its products to cater to specific customer requirements by providing unmatched service and customized hedging options.

Corporate Bank


CustomerSatisfaction The Corporate Banking Group at Citibank in Pakistan is committed to providing its clients the highest level of service possible. Recognized as a leader and a trendsetter in the financial markets, the Corporate Bank strives to achieve Citibank's global objective of customer satisfaction and quality through a welldiversified product offering and a team of highly professional Relationship Managers. The Corporate Bank manages a high quality asset portfolio being an active player in many sectors including textile, sugar, leather, pharmaceutical, fertilizer, petrochemical, power, aviation, automative, telecommunications, oil and gas distribution and fast moving consumer goods industries. Companies in our client base include leading multinational corporations, top tier local corporate organizations and public sector entities. Citibank has been instrumental in bringing together local companies with international players in several Joint Ventures. This has been possible because of Citibank's Global Relationship and transnational network.

Financial Institutions
The Premier Correspondent Bank While systems and technology are an important component of global banking, our business relies on the strengths of the people dedicated to meeting your needs. With this in mind, we have organized around what we call "local/global team" a group of Citibankers who work closely together to provide you with seamless delivery of financial solutions in your own markets, as well as globally. This team includes your local relationship managers, account managers at major financial centers and client services and trade services representatives. Our goal is to ensure that, when you deal with any Citibank center worldwide,


Citibank has raised long term financing in the form of Global Depository Receipts ("GDRs"). Citibank was also voted Best Foreign Bank for 31 of the 69 countries reviewed in July 1998. Foreign Capital Market Transactions Citibank is the leader in international capital market transactions for Pakistani issuers. It has nurtured a diverse local investor base. [link to ssb and Citibank sites] In January 1998. demonstrated by its unmatched track record of raising financing in excess of PKR 20 billion for the local market. In January 2000. Euro-convertibles and Floating Rate Notes ("FRN") 2. Capital Markets 1. 37 .you receive the same level of personalized. Through the development of innovative financial products and the ability to successfully tap international capital markets. Citibank was awarded Best Arranger of Syndicated Loans by Euroweek. IFR recognised Citigroup as the overall "Bank of the Year" and "Loan House of the Year" for 1999. Local Capital Market Transactions Citibank has been the leading player in the syndicated loans business. high quality service from individuals who know you and your business Investment Banking CitiGroup world leader in Invest Banking Citigroup has been recognised as the best arranger of syndicated loans.

3. Citibank has achieved a clear understanding of the various complex regulatory. Securitisation Securitisation offers a strategic funding alternative. that form an integral part of the capital markets business. which involves arranging syndicates for Initial Public Offerings ("IPOs"). 38 . As a result of its involvement in these transactions. with strong cash flows. Citibank has pioneered both local and foreign currency securitisation transactions. rights issues and distribution of term finance certificates. Citibank successfully arranged the first ever local currency future receivables securitisation in Pakistan. Moreover. since it allows for the conversion of assets. into a capital source. legal and business issues.Citibank is also one of the leading players in the distribution business.5 M. It has completed local currency transactions worth PKR 2.

Work Done By Me 39 .

PIL.Collection Training Collection MIS Objectives:  To become familiar with the basic collection operations and terminologies  To understand the core operations of collection MIS  To become familiar with the reporting and monitoring of collections  To understand the collection MIS reports and analyze them COLLECTION MIS COVERAGE • • Covers the North region for Auto. Card and Recoveries Cities under the coverage area: – – – – – – – Faisalabad Lahore Rawalpindi Islamabad Sialkot Gujranwala Multan REPORTS • • Reports made on daily and monthly basis and also per the cycle cut Reports made covering the banking products of: – – – • Autos PIL (Personal Loan) Credit Cards Reports made for collection HR including 40 .

– – – – – Incentives Payrolls Resign and hiring status Employee performances Other HR related issues DAILY REPORTS • Delinquency Reports: [The defaulted credit obligations (unpaid credits) are called delinquency]  For Autos and Personal Loans (Banking): – – – – • 30+ delinquency ( 30 + Exposure/ Total Exposures) 60+ delinquency ( 60 + Exposure/ Total Exposures) 30+ delinquency ( 30 + Exposure/ Total Exposures) 90+ delinquency ( 90 + Exposure/ Total Exposures)  For Credit Cards Was/IS Reports:  Operations of collection process – – – – – Buckets Forward Flow [FF] Normalization Stabilization Roll Back 41 .

Productivity Index:  P.I. 42 . is a tool that measures collector productivity and performance  It is composed of system measured factors that are combined to arrive at a single score  P. 2007. It helps measure the degree of delinquency PIL Lahore. is used for collector evaluation and incentive preparation Daily Status [cards]: – – Includes bucket and cycle wise number of accounts Balances including EPP (Easy Payment Plan) Daily Recovery Reports: – – Includes the payment recovered on daily basis from transaction journals (TJ’s) Division by negotiation and legal . 25th June.I. takes in to account the following factors • • • • • • Contact Ratio Promise to Pay Promise kept ratio Money Collected Calls per day Hours worked  P.Buckets: – A measure that helps understands how the portfolio is doing.I.

Asset Available for sale [Autos] (AAFS): – – Includes the repossessed vehicles inventories Aging report of these vehicles Salary Compensation: – – – – Basic salary Overtime Fuel Other incentives Charge offs [Cards. PIL]: – Calculate incentives according to the Forward Flow and Normalization by achieving the benchmark 43 . PIL]:  Charge off Portfolio Report – includes all accounts written off  Recovery accounts Report – includes accounts which are recovered  Charge/Recovery Breakup by Balance Report – includes the year in which the account was charged off and the year in which it was recovered  No activity Report – includes account detail on which no activity has taken place Collection WAS/IS [Cards. Autos. Autos.

Incentives Report: – Reports made according to the benchmark achieved over the previous month of Forward Flow and Normalization CITY Buckets Accounts KHI Collectors ACR Accounts FSD Collectors ACR Accounts LHR Collectors ACR Accounts RWP/ISD Collectors ACR Accounts North Collectors ACR FE 8675 20 434 3239 9 360 8012 18 445 4544 10 454 16911 40 423 30 1597 11 145 583 5 117 1489 13 115 867 6 145 3147 25 124 60 920 8 115 467 4 117 914 9 102 606 5 121 2073 19 110 90 602 8 75 394 3 131 705 11 64 434 6 72 1654 21 79 Over All 11794 47 251 4683 21 223 11120 51 218 6451 27 239 23785 105 227 CARDS COLLECTION:  To standardize & streamline the process / procedures for the management of bank card account while these are under collection control. delinquent or over limit until it is regularized by means of payment or its closure and full payment is collected. GOALS OF THE COLLECTION: PROGRAM 44 .  Collections responsibility will commence from the time an account becomes current due.

 The primary goal of the collections process is to obtain payments promptly while minimizing collection expense and write-off cost as well as maintaining customers` goodwill by a high standard of service.  The secondary goal of collections is to protect the losses of the bank. card moves to 75 dpd 45 .In over limit high risks account with 10% over limit will be blocked by H & 20% with block I & above 20% is block with J. An account is considered over limit when the outstanding balance exceeds the limit by RS 1 . c) OVERLIMIT ACCOUNTS. This can be achieved by identifying early indications of delinquent customers and thus minimizing losses. e) CURRENT DUE BUT NOT DELINQUENT. Is one in which customer does not pay on the first billing date. ACCOUNT CATEGORIES IN COLLECTION a) b) NONSTARTER ACCOUNTS. With spending is high risk account is one in which customer delay the pmt on the first billing date and without spending is one in which card is not used just annual membership fee is charged & if the collection will fwd the referral for reversal. An account is considered delinquent in CACS when the minimum amount due is not paid until the cycle cut date. d) DELINQUENT ACCOUNTS. There are two types of non-starter accounts with spending and without spending.

c. b. Collection MIS Reports 46 . The MIS reports are thus tools for the Collections Department and the management for analyzing our present position and planning future Collection strategies. team or an individual. according to product for individual billing cycles as they are cut.these account appear in CACS after due date & called (preemptive). downloaded on daily weekly or monthly basis. MIS reports are produced based on CARDPAC and CACS data.An account is classified as current due but not delinquent in CACS if the current minimum amount due is not paid …. For example. These reports are based on each CACS location. d. Supervisors and Managers can find out the reason for a particularly high delinquency in a cycle or region by looking at flows from one bucket to another or due to higher balance in particular buckets. The number of accounts appearing in each individual bucket helps in reviewing the collector capacity of each region. a. MIS reports are useful tools for Supervisors and Managers for monitoring and analysis purposes. The performance of an individual CO or a team looking after a billing cycle can also be judged by reviewing at both the lag/flow as well as the collector performance report. Management Information System The MIS reports generated are utilized to evaluate and report performance achievement of the Collection Department.

Some of these reports pertain to system activities and maintenance whiles other help towards the collection efforts and results. Promises kept% 7. Some of these reports are: Cycle Cut Report This report is a detailed summary of each billing cycle by each billing cycle by region. 47 .CACS generates reports on a daily/weekly or monthly basis. Productivity/Effectiveness Report This report shows the results of individual efforts by CO while giving information like: 1. These reports along with the results of decline or rise in delinquency of a cycle within a region help to track team performance for a particular day and month to date. indicating the cycle delinquency as well as the net flow analysis in comparison to the past months. Promise taken 6. These reports are also available for respective functional areas. Calls 4. Hours worked 2. Contacts 5. Amount collected. Sum of Cycle Report This report is summary of the delinquency of each billing cycle as well as the overall delinquency of each product and the total portfolio. Attempts 3.

CACS Aging This report indicates normalization. Daily MIS Monitoring All Collection shops prepare daily delinquent/flows monitoring MIS. Calls/CO/day 2. This process will create a healthy competition among the collection staff and should form the basis of counseling by Supervisors/Managers. It helps Managers to evaluate shop’s current status so that they can easily strategies their collection efforts as per requirement. Contact ratio 3. PK ration 5. 48 . This report triggers the exact reasons of any increase/decrease in delq /flows. 1. stabilization and forward flows of respective cycle during the month. PTP ratio 4. By looking this report Managers can easily monitor any individual’s performance for that month. Performance Evaluation Collections evaluate performance of each and every CO/FC the defined criteria monthly basis. Normalization ratio 6. roll backs. Forward ratio All shops will display the monthly evaluation MIS on the notice board so that each and every Co can see his/her performance.

Stabilization  A delinquent remains in the same bucket due to payment of one bucket minimum amount. 49 . GCWO (Gross Credit Write Off) GCL (Gross Credit Loss) Recoveries The amount recovered from write off portfolio is called recovery NCL (Net Credit Loss) GCL . PI (Productivity Index) is an established measure to monitor FE productivity which is calculated as per following method.Daily PI Monitoring This MIS helps the Supervisor to evaluate each CO’s productivity on daily or MTD basis.Recovery Normalization  A delinquent account which was cured back to current bucket. MTD a) Is Month to date performance Forward Flows b) The accounts within each delinquency bucket which move to next bucket during the course of one reporting period.

30.120 and 150 The formula of bucket is 1-29 days = bucket 30 The column of grand total represents that how much amount is still to be collected from the customer DAILY CARD RECOVERY REPORT • • • • The purpose of the report is to have a look on the figures that how much amount has been recovered in the whole month from cards.MUL.KHI.90.RWD. past due . The figures are collected on the daily basis Managers require these amounts to see how well their recovery department is performing The report shows the figures of Pakistan 50 .GUJ and SLK Buckets are current.FSD.60.Lag/flow Includes summary of each billing cycle by region indicating the cycle deq as well as the net flow analysis in comparison with the past months DAILY CARD WAS/IS REPORT • • • • • • • • The report is about the collection of the card status Was and is represent that the standing of the amounts that were due yesterday and today There must ber appositive percentage change to justify the correction of was and is report If there will be any negative percentage that means your report is incorrect Cities covered in this report are LHR.HYD.

DELINQUENCIES REPORT • • • • • • The report shows the number of accounts that are still delinquent(to be recovered) in all the regions The report gives the picture about the number of accounts in each bucket As well as also gives a clear picture about the amounts pending The report is very much important for the managers because whole working of the day and for the month is dependent on this report Any error in this report will result a great change in the projections of the month The report describes the delinquent accounts for 30+ and 60+ days PRINCIPAL RECOVERY • • The most important report for the heads of CITI is principal recovery The report describes that how much amount has been recovered in the products AUTO and PIL across Pakistan 51 .GCL TRACKER • • • • • The report is about the GCL (Gross credit loss) of the bank across Pakistan The products covered in this report are autos and PIL The amounts in these heads describes the figures in million dollars For each month the dollar rate is provided by the financial analytical department to convert these figures in PKR The conversion of figures is required to find out the exact GCL in Pak rupees.

To prepare the salary of about 550 staff members that are under the head of North region To prepare the incentive of these 550 staff members on monthly basis To prepare the salary of the Regional Managers and Managers on monthly basis To prepare the incentive of the above mentioned Managers on monthly basis 52 .• • • • This recovery has been made from the customers who default from the bank This is the loss of the bank but when the recovery is made the bank lessens its loss That is why the report bears heavy importance The amounts are in million dollars again these amounts are converted into PKR by the exchange rate of the dollars that has been provided by the financial analytical department • • The report is designed in such a way that it reflects the heads about three months comparison of the figures That makes them easy to analyze and understand what is the present scenario and where we were standing on the same day in the last two months • • The report also shows the figures of expenses that has been occurred during the recovery of thee amounts As well as also tells us about the amounts that has been recovered by the outsource department of city OTHER RESPONSIBILITIES • • • • • My other responsibilities are of HR coordinator of the North region.

• • • • • My other responsibility is to complete the hiring document of the new staff members and to coordinate with HR Head Karachi for their hiring Completing the document of the resigning staff is also under my JD Moreover maintaining the record of leave status of the permanent staff The major responsibility of mine is to conduct different sort of trainings in the Main branch for Collection staff Before conducting that training the training Managers trained me for such sort of training(some results and training certificates are attached) 53 .

This unacceptable result reflects the impact of a weak economy and a lack of market liquidity on various assets we carried into this downturn.Financial analysis 2008 FINANCIAL RESULTS We reported a loss of $27.7 billion in 2008. As previously disclosed our results included 54 .

and private label credit 55 . Citi Holdings includes some great businesses that have strong market positions but are not central to our core operating strategy.7 billion to our loan loss reserves. Citicorp consists of the Global Institutional Bank. operating models. On a stand-alone basis. As credit quality deteriorated. Citi Holdings is made up of brokerage and asset management. away from these losses. high-return assets and it operates in the fastest-growing areas of the world. and client needs. It has relatively low-risk. we are experiencing elevated credit losses as our customers struggle to repay loans. and the Retail Bank. our core franchises are performing well and our customers remain active and engaged with Citi around the world. Our 2008 results reflect a net build of $14. like all major banks. I believe there is no stronger financial services firm than Citicorp. we added to loan loss reserves. However. Citi Private Bank. In the new structure. and sets out a clear path to profitability and value creation.$32 billion of revenue mark-to-market losses on assets in our Securities and Banking business. RESTRUCTURING CITI We accelerated the second stage of our drive for value creation— Restructuring Citi—by realigning Citi into two operating units—Citicorp and Citi Holdings. We will build on this to achieve our highest priority—returning Citi to profitability. which includes Global Transaction Services. Approximately two thirds of Citicorp’s balance sheet is deposit-funded. The Retail Bank includes regional consumer and commercial banking and card franchises around the world. In addition. Citicorp is our global bank for businesses and consumers. mortgage loans. This structure highlights the value of our core franchise and reflects the rapid and dramatic changes in funding markets. We ended the year with total loan loss reserves of $30 billion. Our financial results this year were very disappointing. consumer finance. The new structure simplifies Citi. Corporate and Investment Bank.

policymakers. government. You should know that we are doing everything in our power to accelerate that return. with the right structure and management in place. We will continue to manage these businesses and assets to ensure we maximize their value to our shareholders and will be alert to sensible dispositions or combinations. employees. We are taking control of what is within our control. As a Citi shareholder. We enter 2009 with the drivers of profitability in place.S. and citizens is to return Citi to profitability as soon as possible. But we also see that the policies implemented thus far are setting the stage for recovery. 2009 AND BEYOND The best way to make good on our commitments to investors. Approximately one third of our headcount supports Citi Holdings and it includes the $301 billion of assets covered by our loss-sharing agreement with the U. Although 2009 will likely remain a challenging year—particularly in terms of credit costs—we believe that as the economic environment begins to We recognize that industry profitability may continue to be affected by asset price volatility and credit deterioration. And. and underlying revenue levels are strong. clients. With lower risk and a streamlined set of businesses. With Citi Holdings. as it inevitably will. Our funding. Citi will be well positioned to create the kind of shareholder value of which we all know Citi is capable and which you should reasonably expect 56 . and a special asset pool. we will be able to tighten our focus on risk management and credit quality. we’ll be able to turn our attention to the third stage of our growth strategy: Maximizing Citi. we expect Citicorp to be a high-return and high growth business. Our expenses and risks have been reduced. risk capital. you have experienced an extremely disappointing year and I know that any return to profitability is long overdue.

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S. Department of the Treasury (UST).S. In addition. Citigroup has agreed not to pay common stock dividends in excess of $0. Citigroup raised $32 billion of capital in private and public offerings 58 . as well as a $9.S. 2008). The net loss of $27.42 per share) for 2008.2008 IN SUMMARY Citigroup reported a $32. In connection with these programs and agreements. and a deepening of the global economic slowdown. (ii) entering into a loss-sharing agreement with various U. including in the form of dividends on the preferred stock and other fees. Citigroup is required to pay consideration to the U.0 billion of commercial paper and interbank deposits of Citigroup’s subsidiaries guaranteed by the FDIC outstanding as of December 31. The goodwill impairment charge was recorded in North America Consumer Banking.S. Latin America Consumer banking and EMEA Consumer Banking.59 per share) in 2008 includes the results and sales of the Company’s German retail banking operations and Citi Capital (which were reflected as discontinued operations).1 billion loss from continuing operations ($6. the Company benefited from substantial U.7 billion ($5. cumulative preferred stock and warrants to purchase common stock to the U. The results were impacted by continued losses related to the disruption in the fixed income markets. government financial involvement. government entities covering $301 billion of Company assets. government entities. higher consumer credit costs. During 2008. including (i) raising an aggregate $45 billion in capital through the sale of Citigroup non-voting perpetual. government. In addition to the equity issuances to the UST under TARP. and (iii) issuing $5.75 billion of senior unsecured debt guaranteed by the Federal Deposit Insurance Corporation (FDIC) (in addition to $26.01 per share per quarter for three years (beginning in 2009) or to repurchase its common stock without the consent of U.S.568 billion Goodwill impairment charge based on the results of its fourth quarter of 2008 goodwill impairment testing.

06%.25 per share. and a special asset pool. The U. Revenues of $52. The lower cost of funds more than offset the decrease in the asset yields during the year. The Company’s equity capital base and trust preferred securities were 59 . reflecting the lower cost of funds. up 65 basis points from 2007. due to lower incentive compensation accruals and continued benefits from re-engineering efforts. During 2008. government investment in Citigroup. as well as lower rates outside the U. 2009. In addition. primarily comprised of the Company’s Global Institutional Bank and the Company’s regional consumer banks. for management and reporting purposes.5 billion of its existing preferred securities and trust preferred securities at a conversion price of $3.8 billion decreased 33% from 2007. primarily comprised of the Company’s brokerage and asset management business.S. into two businesses: Citicorp.000 from December 31. The Company’s revenues outside North America declined 4% from 2007. Excluding the goodwill impairment charge. the Company also completed 19 strategic divestitures which were designed to strengthen our franchises. Net interest margin in 2008 was 3. 2009. Headcount was down 52. expenses have declined for four consecutive quarters.S. the Company announced a realignment. primarily driven by significantly lower revenues in ICG due to writedowns related to subprime CDOs and leveraged lending and other fixed income exposures.during 2008. 2007. Net interest revenue grew 18% from 2007. and Citi Holdings. These transactions are intended to increase the Company’s tangible common equity (TCE) and will require no additional U. the Company announced an exchange offer of its common stock for up to $27. On February 27. government will match this exchange up to a maximum of $25 billion of its preferred stock at the same conversion price. on January 16. local consumer finance business.S. Revenues outside of ICG declined 6%. Citigroup believes that the realignment will optimize the Company’s global businesses for future profitable growth and opportunities and will assist in the Company’s ongoing efforts to reduce its balance sheet and simplify its organization.

8 billion from year-ago levels.9 billion in 2007. income taxes on the earnings of certain foreign subsidiaries that are indefinitely invested. and a net build of $14. 2008. reducing total assets from $2. favorably affected the Company’s effective tax rate.0 billion. long-term debt and deposits) as a percentage of assets from 62% at December 31. At December 31.6 billion.3 billion in ICG and $249 million in GWM. 2008. 2008.92% at December 31.6 billion at December 31. Corporate cash-basis loans were $9. At December 31.6 billion in regions outside North America). 2008.8 billion in Consumer ($8.5billion at December 31. The allowance for loan losses totaled $29. 2008.2 billion during 2008 to $141. The effective tax rate (benefit) of (39)% in 2008 primarily resulted from the pretax losses in the Company’s Securities and Banking business taxed in the U.6 billion in dividends to common and preferred shareholders. (the U.S.3 billion to credit reserves. is a higher tax-rate jurisdiction). a coverage ratio of 4.6 billion at December 31. a 149 basis-point increase from the fourth quarter of 2007. including the tax benefit for not providing U. Total credit costs of $33. Citigroup has continued its deleveraging. the tax benefits of permanent differences.2 billion in North America and $2.27% of total loans.187 billion at December 31. up from $9. and the distribution of $7.S. This increase is primarily attributable to the transfer of non-accrual loans from the held-for-sale portfolio to the held-for-investment portfolio during the fourth quarter of 2008.3 billion included NCLs of $19. 2008. an increase of $7. 2008. In addition. 2008. which was affected by capital issuances discussed above.75%.$165. The Consumer loan loss rate was 3. the Company had increased its structural liquidity (equity. Citigroup also reduced its commercial paper program 60 .938 billion at December 31. Stockholders’ equity increased by $28. Citigroup maintained its “well capitalized” position with a Tier 1 Capital Ratio of 11.S. $3. the maturity profile of Citigroup’s senior long-term unsecured borrowings had a weighted average maturity of seven years. 2007 to approximately 66% at December 31. The build consisted of $10. 2007 to $1.

2008. Robert Rubin. As a result of its proposed realignment. Changes to Citi’s Organizational Structure On January 16. which provides significant downside protection against losses on $301 billion of assets. As examples. given the economic and market environment. the Company has made progress in decreasing the risks arising from its balance sheet and building capital to generate future earnings. we completed the loss-sharing agreement with various U. 2007 to $29 billion at December 31. 2009. Richard Parsons became the Chairman of the Company. and as more fully disclosed throughout this MD&A: • Our total allowance for loan losses was $29. Citi announced the acceleration of the implementation of its strategy to focus on its core businesses. government entities. On February 23. Recently. Sir Win Bischoff and Roberto Hernández Ramirez announced they would not stand for re-election at Citigroup’s 2009 Annual Meeting of Stockholders. 2008. OUTLOOK FOR 2009 We enter the challenging environment of 2009 after a difficult and disappointing 2008.S. 2009.from $35 billion at December 31. While numerous risks remain. Citigroup will be 61 .6 billion at December 31. • As part of the decreasing of risks. and • We have reclassified certain assets from mark-to-market classification to held-to maturity which could provide some reduction in earnings volatility.

taking into account the interests of all stakeholders. employees. It is anticipated that Citicorp will focus on its unique competitive advantage of having a strong presence in the fastest-growing areas of the world. Citicorp Citicorp. however. managed the Company consistent with this structure since February 2009 and management reporting will reflect this structure starting with the second quarter of 2009.comprised of two businesses. and Citigroup’s regional consumer banks which provide traditional banking services. including customers and clients. Citigroup continues to believe that many of Citi Holdings’ businesses are attractive long-term 62 . debt holders. a global bank for businesses and consumers. The Company recognizes that major legal vehicle restructuring changes such as the realignment will require regulatory approvals and the resolution of tax and other issues. Citigroup’s plan is to transition to this structure as quickly as possible. Citigroup believes that the realignment will optimize the Company’s global businesses for future profitable growth and opportunities and will assist in the Company’s ongoing efforts to reduce its balance sheet and simplify its organization. institutional. and the communities it serves. Citigroup has. CitiHoldings Citi Holdings will have three primary segments: brokerage and asset management. Citicorp and Citi Holdings. preferred and common stockholders. public sector and private banking clients. local consumer finance and a special asset pool. will have two primary underlying businesses: the Global Institutional Bank serving corporate. including branded cards as well as small and middle market commercial banking.

In addition. The global markets are experiencing the impact of a significant U.S.businesses with strong market positions. including increased credit losses in mortgage-related and other activities. Goals in 2009 • Returning to profitability • Risk reduction and mitigation • Implementation and management of TARP and TARP funds • Expense reduction • Headcount reduction • Asset reduction • Implementing organizational changes/management realignment Economic Environment Citigroup’s financial results are closely tied to the global economic environment. This is restricting the Company’s growth opportunities both domestically and internationally. or global real estate markets could adversely impact the Company’s revenues. and international economic downturn. including additional losses on subprime and other exposures. Should economic conditions not improve or further deteriorate. continuing deterioration of the U.S. the Company could experience continued revenue pressure across its businesses and increased costs of credit. but they do not sufficiently enhance the capabilities of Citigroup’s core businesses. Citi Holdings will continue to focus on risk management and credit quality as it seeks to build value in these businesses. additional losses on leveraged loan commitments and cost of credit. Further adverse rating actions by credit rating agencies in respect of structured 63 .

Credit Costs We believe that credit costs are expected to increase during 2009. or of monocline products or other credit-related exposures. could result in revenue reductions in those or similar securities. This implies that we will most likely continue to add to our Consumer reserves until the end of 2009. • As we go into the first half of 2009. At this time we believe that we will be at the higher end of this range. 64 . we expect NCLs for our consumer portfolios could be $1 billion to $2 billion higher each quarter when compared to the NCLs in the third quarter of 2008. • Our assumption on unemployment is that it could peak as late as the first half of 2010.

• Corporate credit is inherently difficult to predict given the economic environment. As such. 2007 65 . It is expected that corporate loan default rates will increase. 2008 vs. we expect to continue to add to reserves and will likely see higher Corporate NCLs.

reflecting better spreads during the year and higher dividend revenue. revenue was flat with strong growth in Global Cards.Net interest revenue increased 16%. Outside of S&B. acquisitions and portfolio purchases. Growth was also positively impacted by FX translation. acquisitions and portfolio growth. partially offset by the benefits of reengineering efforts. in Transaction Services and Global Cards. Provisions for loan losses and for benefits and claims increased 51% primarily driven by a $574 million incremental pretax charge to increase loan loss reserves. non-interest revenue decreased 2% due to the absence of gain on Visa shares compared to the prior year. increased credit costs in India. Results included a $31 million gain on the sale of DCI. S&B grew 90%. Consumer Banking. grew by 10%. or $966 million. excluding Consumer Finance Japan (CFJ). Asia Excluding CFJ 66 . Growth was also negatively impacted by foreign exchange. Non-interest revenue decreased 43% as S&B continued to be impacted by market volatility and declining valuations. Global Cards growth of 13% was driven by 12% growth in purchase sales and 18% growth in average loans. Excluding this. offset by lower Investment Sales in Consumer Banking and GWM. partially offset by a $21 million gain on the sale of MasterCard shares in the prior year. Transaction Services and GWM. a $937 million Nikko Asset Management intangible impairment charge. Taxes included a $994 million tax benefit related to the legal vehicle restructuring of the CFJ operations. Operating expenses increased 19% reflecting the impact of acquisitions. acquisitions and portfolio purchases. Transaction Services exhibited strong growth across all products resulting in 19% growth. driven by growth of 6% in average loans and 4% growth in deposits. theimpact of the strengthening of local currencies and restructuring/ repositioning charges.

• The effect continued deterioration in the U. • The dividending capabilities of Citigroup’s subsidiaries.As disclosed in the table above. FORWARD-LOOKING STATEMENTS These forward-looking statements are based on management’s current expectations and involve external risks and uncertainties including. unemployment rates. Operating expenses excluding CFJ increased 22% during 2008 and Net Income excluding CFJ decreased 71%. • The effect that possible amendments to. • The effect of default rates on the cost of credit. risk-based capital guidelines and reporting instructions might have on Citigroup’sreported capital ratios and net risk-weighted assets. • The difficult environment surrounding the Japan Consumer Finance business and the way courts will view grey zone claims. • Global economic conditions. housing market could have on the Consumer Banking business’ cost of credit in the first mortgage and second mortgage portfolios. • The impact the elimination of QSPEs from the guidance on SFAS 140 may have on Citigroup’s consolidated financial statements.S. but not limited. and around the world. and political and regulatory developments in the U. the credit environment. Other risks and uncertainties disclosed herein include. but are not limited to: • Levels of activity and volatility in the capital markets. and interpretations of. including the level of interest rates.S. 67 . NIR excluding CFJ increased 25% during 2008.

subprime RMBS and related products. The graph assumes that $100 was invested on December 31. 2003 in Citigroup’s common stock. the S&P 500 Index and the S&P Financial Index and that all dividends were reinvested. • The effectiveness of the hedging products used in connection with Securities and Banking’s trading positions in U. 2008. including ABS CDOs.S. 68 . and • The outcome of legal. regulatory and other proceedings Comparison of Five-Year Cumulative Total Return The following graph compares the cumulative total return on Citigroup’s common stock with the S&P 500 Index and the S&P Financial Index over the five-year period extending through December 31. in the event of material changes in market conditions.• The possibility of further adverse rating actions by credit rating agencies in respect of structured credit products or other credit-related exposures or of monoline insurers.

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Latest news about Citi Bank Citi Pakistan secures top honors Citi Pakistan that its trade capabilities received top honors with a total of 19 awards in Euro money’s Trade Finance magazine fifth annual client poll of the world's best trade banks. which does not meet the SFAS 133 70 . Korea. And. 'Best' awards were given to Indonesia. Taiwan and Hong Kong and "Highly Commended” nods went to China. first time winners. Several regional and country awards were received as well including 'Best Trade Finance Bank in Asia' for the fourth year in a row. "The recognition Citi Pakistan has received in this year's Trade Finance poll underscores our commitment to our clients and is a reflection of the trust and confidence they place in us. In the countries. an economic hedge. Salman Riaz Head of Global' Transactions Services (GTS) at Citi Pakistan said. Thailand and Singapore. ineffectiveness resulting from the hedging relationship is recorded in current earnings. a fact that makes us very proud indeed. Citi was named 'Best Trade Services Bank' and 'Best short-term Finance Bank' once again this year. This year's ballots saw over 12. India. and have become an industry benchmark for institutions in gauging their value proposition. Citi was also named 'Best Export Finance Arranger. Vietnam. totaling 10 countries wins overall. Pakistan and Russia were awarded "Highly Commended" designations for Best International Trade Bank.' 'Best Forfeiting Institution' and 'Best Supply Chain Bank' in the highly commended category.000 entries throughout the world. Malaysia. Alternatively." These results are based on a readers' poll and online voting through Trade Finance's website. Central and Eastern Europe again received the "Highly Commended" award for Best Trade Finance Bank. .

Third. deliver food. CONCLUSION In such challenging times it is worth taking stock of what is truly valuable about Citi. we’ll continue to make a difference in the communities where we work and live. Fourth. we will continue to build on our rich legacy of innovation: innovation to ensure that we can address the needs of a highly mobile population that is increasingly urban and international in outlook. Second. In November. 50. we enable people to reach out and to work together across the world. With so many people now feeling pressure.hedging criteria. we will remain determined to build a culture of meritocracy where talent is recognized and rewarded with opportunity. innovation to help people and companies work more collaboratively across multiple networks and time zones. The first is that our competitive advantage will remain our global presence. with more than 200 million customer accounts in over 100 countries. Through this unique global network. and help people in need. which is rich both in history and in client relationships. where each employee has a chance to achieve his/her potential. innovation to facilitate new ways of thinking about money and the role it plays in everyday life and business. and where the best do better. At the heart of Citi is an irreplaceable franchise built over nearly 200 years.000 Citi colleagues and friends came together in 550 cities around the world in a single day to repair schools. would involve only recording the derivative at fair value on the balance sheet. I’m convinced there are some enduring truths that will stand the test of the coming years. with its associated changes in fair value recorded in earnings. Citi is more devoted than ever to improving society and the environment in the communities where we work 71 .

and employees to create solutions that mitigate the impact of these difficult times. It is our commitment to Citi’s customers. With the top team in the industry.through our philanthropy. We all know people whose economic struggles are unprecedented and overwhelming. Every Citi employee is acutely aware of the challenges ahead. we will succeed 72 . public policy engagement. and our core business activities. shareholders. volunteerism. 73 . www.

MANAGEMENT AND ANALYTICAL UNIT LAHORE MAIN BRANCH 4. GARDEN TOWN CITI BANK BRANCH 5. Abrar Najeeb Miss Habiba Butt Mr. Lahore) (Management & Analytical unit. Shehbaz (Collection Head. North) (Management & Analytical unit.REFERENCES Mr. FINANCIAL DEPARTMENT CITI BANK KARACHI 2. COLLECTION DEPARTMENT LAHORE 74 . Lahore) (HR coordinator Lahore) (Manager AUTOS Collection) (Shop Coordinator) (Shop Coordinator) 1. Numan Mr. Amir Ali Mehdi Mr. HUMAN RESOURCE DEPARTMENT CITI BANK KARACHI 3. Kashif Salahuddin Mr. Tanveer Bashir Mr.