Online edition of India's National Newspaper
Tuesday, Jun 21, 2011
ePaper | Mobile/PDA Version
Google



Business

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary |

Business Printer Friendly Page   Send this Article to a Friend

Citigroup posts 78 % rise in profit in India

MUMBAI: American banking major Citigroup on Monday reported a 78 per cent jump in its profit after tax at Rs.1,859 crore in 2010-11 from its operations in India.

The jump in profit came on the back of improvement in all key ratios, including net non-performing assets, which narrowed to 1.2 per cent from 2.1 per cent in the previous fiscal, Citi India said in a statement issued here.

Total assets

Its total assets grew 17 per cent to Rs.111,586 crore during the fiscal and were driven more by lending to corporates and small and medium enterprises, which grew 33 and 35 per cent, respectively, it said.

Share of the cheaper CASA (current and savings account) deposits also went up to 56 per from the year before's 51 per cent, the release said.

During the fiscal, Citi helped Indian clients raise close to $16 billion of equity and debt capital which gives it a 14 per cent share in the capital raising advisory business.

Capital adequacy

Citi India's total capital adequacy was at 17.3 per cent, the release said.

The total number of automated teller machines (ATMs) in the country also went up to 658 from the 457 at the close of the previous fiscal, it said.

The bank operates 42 branches in 30 Indian cities. — PTI

Printer friendly page  
Send this article to Friends by E-Mail



Business

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary | Updates: Breaking News |


News Update



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Ergo | Home |

Copyright 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu