1. Citi India posts 18% rise in profit at Rs 3,423 crore

Citi India posts 18% rise in profit at Rs 3,423 crore

Citi India reported an 18% increase in net profit at R3,423 crore for FY15, with advances rising about 8% to R60,896 crore.

By: | Published: July 2, 2015 12:22 AM

Citi India reported an 18% increase in net profit at R3,423 crore for FY15, with advances rising about 8% to R60,896 crore. The bank said total assets, including credit extended to Indian corporate clients from offshore branches, stood at R1,80,028 crore as on March 31, 2015.

The banking major’s deposits grew 13.5% during the same period. Asset quality improved with net non-performing assets improving 0.4% to 1.24. The bank’s capital adequacy ratio stood at 15.3% and the net NPA ratio improved to 0.4% from 1.24%.

“During this period, our performance has been driven by balanced growth across each of our consumer and institutional businesses,” Niraj Parekh, CFO, Citi India, said in a statement. The bank provided loans of R6,208 crore under priority sector lending norms in FY15.

During the financial year, the bank-steered merger & acquisition deals stood at approximately R71,800 crore. It also engineered raising of about R1.03 lakh crore of equity and debt capital for its clients.

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