Citibank net profit rises 14% to Rs 325 crore

By Our Banking Bureau | 28 Jun 2002

1
Mumbai: Citibank India has registered a 14-per cent growth in net profit at Rs 325.4 crore for the year ended 31 March 2002 as compared to Rs 285.2 crore in the previous year. The banks total income grew to Rs 2,713 crore (Rs 2,285 crore) while the total expenditure increased to Rs 2,388 crore (Rs 1,999 crore).

During the year, deposits increased by 8 per cent to Rs 15,242 crore (Rs 14,052 crore) while advances increased by 22 per cent to Rs 11,385 crore (Rs 9,325 crore). The capital adequacy ratio was at 11.04 per cent. The ratio of net non-performing assets to net advances improved to 0.40 per cent as against 0.70 per cent.

Says Citibank India CEO Nanoo Pamnani: "The bank had done well across the corporate, retail and SME segments. The Suvidha offering grew across various cities, with the number of customers doubling to almost 3,50,000."

 

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