Citi India, part of
the US based global banking giant Citibank, on Wednesday reported a growth
of 41 per cent in net profits for 2012-13 at Rs 2,720 crore, helped by
robust growth in commercial banking, mortgage business and moderation in
operating expenses. Operating expense to income ratio of the bank stood at 40
per cent as at March 31, 2013 as compared to 44.5 per cent as at March 31,
2012. “During the financial year 2012-13, we have seen sustained expansion in
the commercial banking segment, high off-take of trade loans by global banking
customers and growth in our mortgage business,” Abhijit Sen, chief financial
officer of Citi India, said in his post-earnings comments. The total assets
of the bank were Rs 1.28 lakh crore at the end of the last financial year.
Advances rose 10 per cent year-on-year to Rs 52,036 crore, while mortgage book
expanded 16.7 per cent to Rs 9,949 crore. Citi India said it has continued
to be leading arranger of capital for the India financial system, raising close
to USD 8.5 billion and also played a key role in government’s disinvestment
programme. The bank said that its capital adequacy ratio improved to 15.90
per cent and the net NPA ratio was 1.47 per cent.
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