Money & Banking

Citi India net up 12% in FY17

K. R. Srivats New Delhi | Updated on January 11, 2018 Published on July 04, 2017

CITIBANK

The bank maintained its dominant position across equity and debt capital raising, loan financing and M&As.

Citi India on Tuesday reported a 12.15 per cent increase in net profit for the year ended March 31, 2017, at ₹3,626 crore (₹3,233 crore).

While net interest margin improved to 5.4 per cent (5.1 per cent), net NPA (non-performing asset) ratio stood at 0.5 per cent, the same level as in the previous year.

Commenting on the financial performance, Niraj Parekh, Chief Financial Officer, Citi India, said: “Citi India is pleased to have delivered yet another year of consistently strong results and improved profitability while continuing to maintain high asset quality and a robust capital position.”

During 2016-17, Citi India disbursed ₹2,34,181 crore of loans, including those booked in offshore locations, representing a 13.4 per cent growth over the previous year.

“Our results are a consequence of our execution focus, judicious expense controls and sound risk management. Citi in India is well placed and committed to supporting our clients’ investments and growth,” Parekh said in a statement.



Srivats.kr@thehindu.co.in

Published on July 04, 2017
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