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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 04, 2017
This article is closed for comments.
Please Email the Editor