Citibank India reports a 6% drop in net profit to Rs 34 billion

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 posted a 6 per cent drop in net profit at Rs 34 billion for year ended March 2018 against Rs 36.26 billion in the previous year. 

"The drop in profits over the previous year is attributed to the impact of rising yields on the investment portfolio," the bank said in a statement on Monday.  

The bank’s net NPA ratio remained stable at 0.5 per cent. The current account saving account (CASA) ratio stood at 58.2 per cent, while capital adequacy ratio (CAR) stood at 17 per cent as on March 2018, against 17.6 per cent at the end of last year. 

“Citi has delivered yet another year of strong and consistent earnings. Growth in net interest Income, coupled with judicious expense management, have enabled this robust performance. Disciplined risk management has allowed us to maintain our credit quality, despite a challenging market environment,” said Niraj Parekh, chief financial officer, Citibank India. 

For Citi Franchise in India, total assets, in aggregate terms stood at Rs 2,346.68 billion as on March 2018. This includes credit extended to Indian corporate clients from offshore Citi entities.