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Committed to India since 1902, Citi prides itself in being a premier, locally-embedded, financial institution backed by its global network over a 100 countries. With over 7,500 employees and US$3.1 billion capital invested, Citi is the single largest foreign direct investor in the financial services industry in India. |
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| Fast Facts |
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Global CEO: Vikram Pandit |
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APAC CEO: Shirish Apte |
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Citi Country Officer India: Pramit Jhaveri |
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Number of Employees in India: Approximately 7,500 (as on April 2009) |
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India Net Revenue 2008-09: of Rs. 10,423 crores |
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| History |
Founded in 1812 as the City Bank of New York, Citibank became the largest bank in the US by 1894. By the very early years of the twentieth century, the Bank had expanded into Asia through acquisition of the International Banking Group that operated in many commercial centres of the continent including Bombay and Calcutta. By 1930, it was the largest international bank in the world with 100 branches in 23 countries outside the US.
Citi opened its first office in India in 1902. Since then we have become one of India's most diverse and recognized financial service providers, with the Bank operating in 42 branches across 30 cities. Our operations encompass a premier Institutional Clients Group and a well-established consumer business under Citibank and CitiFinancial brands. The Institutional Clients Group provides a comprehensive range of financial services including treasury management, transaction services, securities custodianship, foreign exchange, fixed income and equities sales and trading, and corporate finance to corporate clients, governments and financial institutions.
In 2004, Superbrands's Vol I 'An Insight into 101 of India's Strongest Brands' wrote "to many Indians, the entire credit card industry is synonymous with Citibank, which pioneered this financial segment in India". That was just one of Citibank India's groundbreaking efforts. |
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| Financials |
Citibank India reported total revenues of Rs. 10,423 crores for the year ended March 31, 2009, representing a 24% increase from Rs. 8,410 crores for the same period last year. The growth in revenues was attributable both to higher interest income, as well as significant growth in fee and trading income. As on March 31, 2009, the balance sheet grew by 26% from Rs. 83,851 crores to Rs. 1,05,264 crores, reflecting continuing growth in customer lending activities.
Net profit after tax was Rs. 2,173 crores for the period, representing a 20% increase from Rs. 1,804 crores in the same period of last year. Despite industry-wide challenges in unsecured consumer credit impacting profitability of the Retail Banking segment, the increase in net income reflected strong growth in Corporate/Commercial Banking and Treasury.
In addition to Citibank with 40 branches in 28 locations in India, Citi operates several other legal vehicles, including two large non-bank finance companies, two brokerage companies and two other companies undertaking capital markets activities.
Mark T. Robinson, CEO, Citi South Asia, commenting on the results said: "Notwithstanding the slowdown in the local economic environment arising from unprecedented turmoil in global markets, the strong performance of Citibank India branch underscores our strengths built up over 107 years operating in India. During the year we assisted many of our corporate customers to raise capital in the local market and, by using our global product expertise, to access international capital markets. Recognising the credit quality challenges we faced in our unsecured consumer loan portfolio, we were amongst the first in the industry to take corrective action and are pleased with our progress. Having spent 6 months in the country, I am impressed with the diversity and expanse of our franchise and excited by the possibility of developing it further in line with local market needs."
The Citi India franchise continued its track record of innovation and market-leading transactions during 2009: |
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In a nationwide survey of customers conducted by the Economic Times' Brand Equity, Citibank India was voted Best Foreign Bank Brand. Citibank India also won the Dun & Bradstreet and Businessworld awards for Best Foreign Bank in India. Euromoney, FinanceAsia and The Asset publications presented Citi with Best Investment Bank and Best Foreign Investment Bank in India awards. Citi Research was ranked #1 by Institutional Investor magazine.
For details about the financial performance of Citibank over the years, please visit: http://www.citigroup.com/citi/fin/index.htm |
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| Structure |
| Citi India's operations encompass corporate and investment banking, consumer banking, private banking, and banking services to the international Indian community. The breadth of Citi's activities in India covers the following groups and lines of business: |
| Institutional Clients Group |
Global Consumer Group |
Global Wealth Management |
| A leading corporate bank with a 107-year history of serving the Indian corporate sector and financial institutions |
Pioneered consumer banking and was the first to introduce credit cards and consumer finance |
A holistic approach to wealth management for both individuals and businesses throughout the wealth creation cycle |
| Enjoys a dominant market share in key products like cash management (through-put 31% of GDP), FX (16% market share) and Custodial Services (over $100bn in AUC) |
Significant investments in technology have enabled Citi to maintain its edge through alternative distribution channels - ATM, online banking, phone banking, mobile banking |
Provides the full range of finance, banking, investment, trust and advisory services for wealth creators |
| Has a fast growing SME franchise with a dominant share of market in many key verticals |
Retail network includes 42 branches in 30 cities and over 400 ATMs |
Trusted advisors for designing insightful solutions customized to individual client needs, with an emphasis on personalized, confidential service |
| Investment Banking & Capital Markets |
CitiFinancial |
Citigroup Wealth Advisors |
| Dominant Investment Bank across both fund raising and advisory services |
Consumer finance services for Personal Loans, Home Loans, and third-party insurance |
Financial planning and investment advisory based on a retail brokerage platform to serve wealth management needs of retail investors |
| Leading advisor on Equity and Equity-linked transactions |
Over 180 branches |
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| Top-notch local currency debt house |
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| Pioneers in Securitisation |
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| Leading issuer of G3 bonds |
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| A top-notch Research team providing top quality research & international expertise to trading oriented investors through comprehensive coverage of the Indian markets across sectors |
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| Leading equity trading house |
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| Alternate Investments - Citi Venture Capital International (CVCI) |
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A leading private equity player over the last
decade |
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| Investments in multiple sectors in the country, including auto components, financial services, ITES and real estate |
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