Citibank and Pakistan Post sign distribution network deal
Citibank N.A. Pakistan and Pakistan Post have signed an agreement to create a wider distribution network and new alternative collection points for Citigroup corporate customers across the country.
According to an announcement, chairman Pakistan Postal Services Management Board, Agha Masood Hasan and Citigroup Country Officer Zubyre Soomro attended the signing ceremony.
Speaking on the occasion, Aga Masood Hasan said that under this landmark agreement, Pakistan Post will provide corporate customers of Citigroup the convenience of making cash and cheque deposits through 81 general post offices and post malls all over Pakistan.
He said that Pakistan Post was one of the biggest financial institutions in the country, transacting over Rs 2.5 billion (US$42.5 million) every day and its network of 13,000 Post offices are visited by more than 7 million people.
He further said that Pakistan Post intends to increase the number of online branches significantly in the coming months, which will in due course also be included in the agreement. Zubyre Soomro said that Citigroup was committed to a continual process of product development and network enhancement.
He said that Citigroup maintains its leadership in developing and providing cash management products and services to its customers through dedicated and substantial investments in infrastructure.
