Mumbai: Citibank's net profit in India increased 12% to Rs 3,626 crore in the fiscal year ended March 2017 from Rs 3,233 crore in the year ended March 2016 driven by a 30 basis points improvement in net interest margins (NIMs) and a 13% growth in loan disbursements in India and abroad. Low cost current and savings account deposits increased to 58.2% of total deposits in fiscal 2017 from 49.7%.Citibank's capital adequacy also improved to 17.6% from 15.8% in fiscal year 2016. One basis point is 0.01 percentage point Net interest margin or the yield a bank earns on loans and that it pays on deposits rose to 5.4% in fiscal 2017 from 5.1% in fiscal 2016. Citi in India is well placed and committed to supporting our clients' investments and growth," chief financial officer Niraj Parekh said in the release.The bank's net NPAs remained unchanged at 0.50%. It was unclear as to why the bank's CASA as well as capital adequacy had improved.
referring to
"Citibank India serves 2.5 million retail customers with 1.2 million bank accounts and 2.4 million cards nationally. For Citi India, in aggregate, total assets, including credit extended to Indian corporate clients from offshore Citi entities, stood at Rs 2,02,855 crore. Citi India today reported 12 per cent growth in its net profit at Rs 3,626 crore for the 2016-17 fiscal on account of increase in loan book size. On the numbers, Citi India Chief Finance Officer Niraj Parekh said, "Our results are a consequence of our execution focus, judicious expense controls and sound risk management. It had earned a profit of Rs 3,233 crore in 2015-16.
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collected by :Jack Luxor
referring to
"Citibank India serves 2.5 million retail customers with 1.2 million bank accounts and 2.4 million cards nationally. For Citi India, in aggregate, total assets, including credit extended to Indian corporate clients from offshore Citi entities, stood at Rs 2,02,855 crore. Citi India today reported 12 per cent growth in its net profit at Rs 3,626 crore for the 2016-17 fiscal on account of increase in loan book size. On the numbers, Citi India Chief Finance Officer Niraj Parekh said, "Our results are a consequence of our execution focus, judicious expense controls and sound risk management. It had earned a profit of Rs 3,233 crore in 2015-16.
read more visit us profit
collected by :Jack Luxor
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