NEWS & ADVICE : SAVINGS ACCOUNTS
Citibank India PAT up by 35%; 18% growth in credit
By Neelima Shankar
Jul 4, 2012
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Citibank India, Indian arm of New York based Citibank has announced its results for FY 2011-12. The bank registered a growth of 35% in its bottomline, which stood at Rs. 1,922 crore against Rs. 1,424 crore a year before.

The gross profits for the year ending March 31, 2012 stood at Rs. 3,297 crore compared to Rs. 2,402 in the last year, a growth of 37%.

The bank's asset quality also improved over the year, showing a 15% growth from Rs. 1.12 lakh crore to Rs. 1.28 lakh crore in the FY12. The foreign bank also reduced its nonperforming assets (as a ratio to total advances) from 1.2% to 0.9%.

Total deposits for the year stood at Rs. 64,498 crore , and current account savings account (CASA) ratio for the bank was at 55%.

Credit offered to institutional clients, NRIs, grew by 18% to Rs. 1.82 lakh crore by the end of last fiscal. The bank also advised on mergers and acquisitions deals worth US$ 12 billion during the year.


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