Citigroup getting out of Pakistan ??

[karan.1970]

Citigroup is dieing and when companies die they cut thousands of jobs and shut their operations in many countries.

This dying (not dieing ) company has annual revenues more than twice Pakistan's annual budget..

 

[karan.1970]

Citi bank is closing down in many countries but the thread title suggests as if its happening only in Pakistan for a specific reason. Are you trying to prove a point Mr Karan or just trying to score a brownie point?

It will be nice if you see the section in which this thread has been opened.. I kind of believed that in Pakistan economy section, one should talk about economic happenings within Pakistan.. No ?

 

[A.Rafay]

This dying (not dieing ) company has annual revenues more than twice Pakistan's annual budget..

But it wont survive in Pakistan, Like HSBC its also closing in Pakistan.

 

[IceCold]

It will be nice if you see the section in which this thread has been opened.. I kind of believed that in Pakistan economy section, one should talk about economic happenings within Pakistan.. No ?

Of course or perhaps is it getting hard these days to find something so anything or any news as long as it mentions Pakistan will do...

 

[Azazel]

Citigroup is dieing and when companies die they cut thousands of jobs and shut their operations in many countries.

LOL,Are you familiar with the concept of Too Big to Fail.Citi group is one of the largest investment bank in the world.They will never be allowed to fail.If they are pulling out of Pakistan,then they will be expanding somewhere else Most likely in South East Asia.

 

[Azazel]

Citi Bank sucks here in Pakistan. Although they have been operating here in Pakistan for a long time, they have failed to make major inroads in the domestic market due to their inefficient operations. While on the other hand local Pakistani banks have really upped their game, their operations are smooth and most importantly they are focusing highly on customer service. It will be best for Citi if they exit and sell their stake to a local bank.

These investment banks are here for providing financial services for big MNCs.They only need to expand if there are huge financial activities going on.In short they are not here to provide loans for poor farmers,but for big bucks.That's why they don't play big role in India or Pakistan.

 

[karan.1970]

Of course or perhaps is it getting hard these days to find something so anything or any news as long as it mentions Pakistan will do...

Well, One of the largest Banks in the world is quitting Pakistan and that does not qualify as something in your view.. Good.. More power to you

 

[Rajaraja Chola]

Citi bank is not great in India too. They cant match HSBC or even some Indian banks.

Guess Citi concontrates mostly on industrial banking ops in India.

 

[IceCold]

Well, One of the largest Banks in the world is quitting Pakistan and that does not qualify as something in your view.. Good.. More power to you

Of course but then again that bank is closing down in many countries....try harder

 

[karan.1970]

Of course but then again that bank is closing down in many countries....try harder

I think its Pakistan that has to try harder so that it becomes an attractive destination for multi nationals...

 

[Thorough Pro]

Is there any other evil left that we can attribute to Zardari? probably the recent flu outbreak,he must have taken mony from multinational pharmaceuticals, right!

Possible because this is why PPP has been installed in Pakistan by US to destroy Pakistan's economy completely.

 

[turbo charged]

good for Pakistan.....Citigroup in Pakistan only hires qadianis.

 

[TaimiKhan]

Citi Bank sucks here in Pakistan. Although they have been operating here in Pakistan for a long time, they have failed to make major inroads in the domestic market due to their inefficient operations. While on the other hand local Pakistani banks have really upped their game, their operations are smooth and most importantly they are focusing highly on customer service. It will be best for Citi if they exit and sell their stake to a local bank.

They have already started it, just recently they sold their consumer portfolio to HBL. Thus it seems they have already started to exit the market.

 

[American Pakistani]

Citigroup is dying even in America. They try to give offers like open an account & get 250$ in it free still most people not satisfied with them.

 

[Skull and Bones]

Has anyone used their credit cards? I'm yet to see a satisfied citi bank credit car owner.