Citibank India on Monday reported a 5.5% decline in the profit after tax (PAT) to Rs 3,233 crore for FY16. The profit before tax (PBT) stood at Rs 5,777 crore, down 2.5% from the previous financial year, the bank said in a statement.
During the previous financial year, Citibank India’s deposits grew 12.7%, and its net interest income (NII) – the difference between interest earned and interest expended – rose 10% Y-o-Y. As on March 31, 2016, its total assets stood at Rs 1,54,117 crore.
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“For Citi India as a whole, total assets including credit extended to Indian corporate clients from offshore branches stood at Rs 2,02,723 crore,” the statement said.
Citibank India’s capital adequacy ratio stood at 15.8% and its net non-performing assets (NPA) ratio was at 0.5%. According to Niraj Parekh, CFO, Citi India, “During the period, our focus on superior asset quality as well as our ability to service our institutional and retail clients through the full suite of our banking propositions translated to high quality earnings, despite the macro economic pressures.”
In FY16, the bank added 1,700 employees, bringing the total number of employees to 13,457.
“Of the total employee base, Citi service centres, housed under Citicorp Services India (CSIPL), engages around 7,450 professionals, across five locations in India,” the statement said. Citibank India extended loans of Rs 7,789 crore to agriculture, weaker sections and micro & small enterprises and Rs 10,401 crore toward export credit as on March as part of its priority sector lending obligations.
