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Citibank India has reported a decline of over 6 per cent in net profit at ₹ 3,403 crore for 2017-18 financial year. The bank had registered a net profit of ₹ 3,626 crore in the preceding year (2016-17).
The drop in profit is entirely attributable to the impact of rising yields on the investment portfolio, Citibank N A, India said in a statement today.
“For the Citi Franchise in India (Citi) in aggregate, total assets, including credit extended to Indian corporate clients from offshore Citi entities, stood at ₹ 2.35 lakh crore as on March 31, 2018,” it said.
Among the key metrics, the bank’s net non-performing assets (NPAs) remained unchanged at 0.5 per cent of the net advances as on March 31, 2018, while the capital to risk weighted assets (CRAR) was a tad lower at 17 per cent against 17.6 per cent in 2016-17.
The CASA (current account savings account) ratio too remained unchanged at 58.2 per cent for 2017-18.
“Disciplined risk management has allowed us to maintain our credit quality, despite a challenging market environment,” said Niraj Parekh, Chief Financial Officer, Citibank India.
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