Citibank India reports decline of over 6% in net profit at Rs 34.03 bn

Among the key metrics, the bank's net NPAs remained unchanged at 0.5 per cent of the net advances as on March 31, 2018

Citibank India has reported a decline of over 6 per cent in net profit at Rs 34.03 billion for 2017-18 financial year.

The bank had registered a net profit of Rs 36.26 billion in the preceding year (2016-17).

The drop in profit is entirely attributable to the impact of rising yields on the investment portfolio, Citibank N A, India said in a statement today.

"For the Citi Franchise in India (Citi) in aggregate, total assets, including credit extended to Indian corporate clients from offshore Citi entities, stood at Rs 2.35 trillion as on March 31, 2018," it said.

Among the key metrics, the bank's net non-performing assets (NPAs) remained unchanged at 0.5 per cent of the net advances as on March 31, 2018, while the capital to risk-weighted assets (CRAR) was a tad lower at 17 per cent against 17.6 per cent in 2016-17.

The CASA (current account savings account) ratio too remained unchanged at 58.2 per cent for 2017-18.

"Disciplined risk management has allowed us to maintain our credit quality, despite a challenging market environment," said Niraj Parekh, Chief Financial Officer, Citibank India.