Citibank Expands Operations in Pakistan as Balance Sheet Exceeds $1 Billion by Mid-2026
Citibank, one of the world's leading global banking institutions, confirmed the continued expansion of its operations in Pakistan after its balance sheet in the Pakistani market exceeded $1 billion as of June 30, 2026. This growth is driven by scaling up government financing, trade finance, working capital, and medium- to long-term loans for multinational corporations (MNCs), large enterprises, and banks.
During a recent visit to Pakistan, Shahmir Khaliq, Head of Services at Citi, stated that the bank continues to provide daily funding to its clients through its balance sheet. He explained that the bank's balance sheet in Pakistan crossed the $1 billion mark by the end of the first half of this year, comprising assets and liabilities that reflect the expanding scope of the bank's business in the local market.
Khaliq noted that the asset side of the balance sheet includes a comprehensive financing portfolio managed by the bank for various client segments, including the Pakistani government, MNCs, large corporates, and banking institutions. He emphasized that Citi's strategy in Pakistan relies on providing integrated financing solutions that support trade, investment, and economic growth.
Globally, Citi facilitates nearly $1 trillion in financing annually through a vast ecosystem encompassing import and export finance, export credit agencies, and development finance institutions. These entities support equipment manufacturers and infrastructure projects in emerging markets worldwide. Khaliq added that the bank applies the same approach in Pakistan, offering credit lines to support import and export operations, along with international trade finance, which helps clients grow their businesses and enhances their access to global markets.
Pakistan represents a strategic market within Citi's global network, which spans 90 markets worldwide. Having operated in the country since 1961, Citi considers Pakistan one of its most important markets due to the size of its economy and a population of approximately 250 million.
The bank's client base in Pakistan includes the government, the State Bank of Pakistan, MNCs, large institutions, banks, and brokerages. Khaliq highlighted that Citi's role goes beyond providing financing; it also includes facilitating access to capital markets, offering advisory services, managing treasury operations, and providing financial risk hedging solutions.
Despite the various economic and financial crises Pakistan has faced over the past six decades, Citi has maintained its strong presence and continued to support its clients through both stable and challenging times. Khaliq affirmed that this steadfast strategy will persist in the future.
The Citi executive also revealed that the Pakistani government recently issued several Requests for Proposals (RFPs) to raise new funds from global markets via Eurobonds and Islamic Sukuk. He explained that the bank intends to leverage its international network to help the government access new funding sources and facilitate its entry into global capital markets.
MNCs remain a primary target market for the bank in Pakistan. The growth of these companies directly reflects on Citi's business, whether through increased financing or expanded banking services, as the bank continues to compete vigorously with other financial institutions in the market.
Reaffirming the bank's commitment to continued investment and expansion in Pakistan, Khaliq expressed high confidence in the market's future growth opportunities, noting that Citi views Pakistan as a profitable market within its global operations. The bank serves some of the largest global companies operating in Pakistan, alongside major local banks, reinforcing its position as a key financial partner for both the public and private sectors.
Regarding the future of the financial sector, Khaliq emphasized that financial services are rapidly moving toward real-time processing, digitalization, and the adoption of Artificial Intelligence (AI). He noted that Citi continues to heavily invest in AI, digital asset tokenization, and blockchain technology to empower clients to manage liquidity and transfer cross-border funds more efficiently and swiftly, ultimately supporting the future of global digital banking.