Citibank India announces numbers for the FY 2014-15

Citi India, the Indian unit of global banking giant Citibank, said its pre-tax profit rose 15.8 percent in the year ended March to Rs 5,923 crores from INR 5,113 crores in the previous financial year.

Citibank is not obligated to report its results publicly as it is not listed in India.

Profit After Tax rose 18.3 percent to INR 3,423 crores from INR 2,893 crores.

As on March 31, 2015, Citibank India’s total assets were INR 138,776 crores, with advances growing by 7.7 percent to INR 60,896 crores.

The Bank’s deposits grew 13.5 percent during the same period, and the CASA ratio stood at 49 percent.

As on March 31, 2015, the Bank’s capital adequacy ratio stood at 15.3 percent and the net NPA ratio improved to 0.4 percent from 1.24 percent.

Operating Expense to Net income ratio stood at 34.3 percent for the period ended March 31, 2015. For Citi India as a whole, total assets including credit extended to Indian corporate clients from offshore branches stood at INR 180,028 crores as on March 31, 2015.

Citi India added 2,244 employees over the past year, bringing the total number of employees to 12,044. Of the total employee base, Citi Service Centers housed under Citicorp Services India Private Limited (CSIPL), engages around 5,700 professionals across 5 locations in India.

Citibank India said it had extended loans of INR 6,208 crore to agriculture, weaker sections and micro and small enterprises as well as INR 10,572 crore towards export credit as on March 31, 2015

Citi India was the No.1 investment bank in both, announced and completed M & A , and concluded deals worth approximately INR 71,800 crore during this period.

Citi India also helped raise approximately INR 103,000 crore of equity and debt capital for its clients, preserving its status as the preferred investment banker in the country during this period.

In this space, Citibank competes with the likes of Kotak Mahindra Bank and Edelweiss.

Citibank India held a 5.7 percent market share of India’s domestic payment flows and 7.00 3 percent of India’s merchandise and software services trade flows and holds a 15.5 percent market share in Foreign Exchange merchant flows as on March 31, 2015, a growth of 2.9 percent over the same period last year.

“Citibank India is a leading custodian serving around 44 percent of Indian asset managers and managing approximately 30 percent of Foreign Portfolio Investor flows in India as on March 31, 2015,” the US-based bank said.

Citibank India has 1.2 million retail customers and has 2.4 million cards in force through a network of 45 branches across 28 locations, with the addition of three new branches in Nagpur, Thane and Serilingampally during last fiscal year.

Citibank India also claims to have card-spend of 1.5 times of industry average and a 15 percent market share of overall credit card spends in the country.

Citibank India has 8 percent market share (in value terms) of IMPS transactions amongst banks for the period ended March 31, 2015 with just 0.5 percent share of the total banking accounts in 8 India.

“Citibank India is the first bank in India to leverage IMPS on ATMs to enable ATM funds transfer to any bank account in the country and is amongst the first banks to enable transfers through SMS in India during this fiscal period,” it said.