MIRA INFORM REPORT

Report Date :

26.04.2011

IDENTIFICATION DETAILS

Name :	CITIBANK N.A.

Registered Office :	1st Floor, A.W.T. Plaza, I.I. Chundrigar Road, Karachi

Country :	Pakistan

Financials (as on) :	31.12.2009

Year of Establishment :	1962

Com. Reg. No.:	0001442

Legal Form :	Pakistan Branches (the bank) operates as a branch of Citibank, N.A.

Line of Business :	Principally engaged in retail banking, corporate banking and treasury related activities

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 8000000
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

CITIBANK N.A.

Full Address

Registered Address

1st Floor, A.W.T. Plaza, I.I. Chundrigar Road, Karachi, Pakistan

Tel #	92 (21) 32638398, 32638223
Fax #	92 (21) 32638211
Website	www.citibank.com.pk

Short Description Of Business

Nature of Business

Principally engaged in retail banking, corporate

banking and treasury related activities

Year Established

1962

Registration #

0001442

Branches

Bank presently operates through 21 branches (December 31, 2008: 26 branches) in Pakistan

Auditors

KPMG Taseer Hadi & Co.

(Chartered Accountants)

Legal Status

Citibank, N.A. – Pakistan Branches (the bank) operates as a branch of Citibank, N.A. which is incorporated and domiciled in the U.S.A. and is a member of Citigroup Inc. The ultimate holding Company of the bank is Citigroup Inc

Details of Management

Names

Designation

Mr. Arif Usmani

Mr. Anjum Hai

Chief Executive (Pakistan Branch)

Chief Financial Officer (Pakistan Branch)

Holding Company

The ultimate holding Company of the bank is Citigroup Inc

Business Activities

Principally engaged in retail banking, corporate banking and treasury related activities.

Number of Employees

2,200

Credit Rating

Long Term Senior Debt - A1

Short Term Senior Debt - P-1

Outlook - Stable

Future Outlook

The future prospects of the economy and the beginning and the banking industry in particular look promising. Bank is well poised to take advantages of these encouraging developments and therefore continue its strategy of balanced growth and consolidation.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 84.20
UK Pound	1	Rs. 138.19
Euro	1	Rs. 122.13

Comments

Citibank Pakistan has remained one of the leading multi national banks operational in Pakistan. Bank presently operates through 21 branches (December 31, 2008: 26 branches) in Pakistan.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.45
UK Pound	1	Rs.73.35
Euro	1	Rs.64.78

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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