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Citi India has reported an 18.3 per cent increase in profit after tax for the financial year ended March 2015 at ₹3,423 crore (₹2,893 crore). This performance was driven by balanced growth across consumer and institutional businesses and disciplined execution of its current strategy, Niraj Parekh, Chief Finance Officer (CFO), Citi India, told BusinessLine .
Parekh said that Citi India was “comfortable” with the quality of its asset book and expressed confidence that it should be able to grow it this fiscal. As on end March 2015, the bank’s net non-performing asset (NPA) ratio improved to 0.4 per cent from 1.24 per cent.
Citibank India’s total assets were ₹138,776 crore, with advances growing by 7.7 per cent to ₹60,896 crore. The bank’s deposits grew 13.5 per cent during the same period, and the CASA (current account, savings account) ratio stood at 49 per cent.
‘Balanced growth’Parekh also said that Citi India would continue to place equal emphasis on growing its consumer and institutional businesses this fiscal.
“Our strong balanced growth in financial year 2014-15 was not a one-off episodic activity,” he said.
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