Citibank India net up 20 pct

The balance sheet of the bank grew 26 per cent from Rs 83,851 crore to Rs 1,05,264 crore.

Citibank though struggling globally has done well here with its Indian branch reporting 20 per cent rise in net profit at Rs 2,173 crore for the year ending March 31,2009.

The bank,which has 40 branches at 28 locations,said in a statement that its total revenues were up 24 per cent at Rs 10,423 crore amid inflows by way of higher interest income,trading income and fees.

The balance sheet of the bank grew 26 per cent from Rs 83,851 crore to Rs 1,05,264 crore,the statement said.

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The bank said there were many challenges in unsecured consumer credit impacting profitability of the retail banking segment during the year. The bank posted increase in net income due to growth in corporatecommercial banking and treasury,it said.

The bank has two large non banking finance companies,two brokerage companies and two companies that undertake capital market activities in India and all these activities remained profitable,the statement said.

The only exception was Citifinancial Consumer Finance which was impacted by deterioration in unsecured credit quality and City Wealth Advisors which is yet to reach full scale operations,the statement said.