CITI IN INDIA

Citi In India.

Citi In India.

Citi Centre

First International Financial Centre:
Plot Nos C-54 and C-55, G-Block,
Bandra Kurla Complex,
Bandra East, Mumbai 400098.

Ashu Khullar

Chief Executive Officer
Citi India

www.citibank.com/india

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    Citi began operations in India over a century ago in 1902 in Kolkata and today is a significant foreign investor in the Indian financial market. As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Ltd. and Iflex Solutions Ltd.; it pioneered the ITES industry in financial services through Citigroup Global Services Ltd. (CGSL). Oracle acquired Iflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008. Citi India added two more green certified buildings to its office premises in 2012, and in 2013 moved its headquarters to The First International Financial Centre (FIFC), a world-class environmentally friendly building. In addition, Citi India, through its network of Citi Solution Centers, has been a leading offshoring unit for Citigroup globally, providing employment opportunities in the areas of technology, processing, analytics and financial processes.

  • 2020: Ikea Family Credit Card by Citi
  • 2020: Citi Registers First FPI via Online Common Application Form
  • 2019: Paytm and Citi Partner to Launch Paytm First Card
  • 2018: Launch of India's first home loan linked to the 3-month Government of India Treasury Bill Benchmark Rate
  • 2017: Launch of Hello, a multi-dimensional digital value proposition for Citigold clients
  • 2017: Launched e-Chat on Citibank Online and Citi Mobile, post log in
  • 2017: Launched Voice Biometrics Authentication on CitiPhone
  • 2016: Instant loan on card, instant insurance, express decisioning for personal loans
  • 2016: Online document upload
  • 2016: PayTM wallet loading on Citi Internet Banking
  • 2015: Launched Citi Priority
  • 2015: Launched Instant Personal Loan
  • 2015: Launched Citi MasterPass, India's first global wallet
  • 2015: Launched ATM funds transfer via IMPS
  • 2014: Citi Prestige, Citi's first global credit card and Citi Ultima, a 'by invitation only' credit card.
  • 2013: Instant Credit Card issuance at Mumbai's first mall-based smart-banking branch at Palladium, Lower Parel, Mumbai.
  • 2013: Launch of the First Fully Integrated and Certified Mobile Payment Solution.
  • 2012: Launch of market-first mobile-banking receivables solution Citi Mobile Collect.
  • 2012: First Smart Banking Branch launch in India.
  • 2012: Launch of India's first airline agnostic card through Citi PremierMiles.
  • 2012: First to roll out SMS-to-Call and Click-to-Call; instantly connecting customers to Citibank officers.
  • 2010: First brokerage house to launch Financial Information Exchange (FIX) protocol, the industry-driven international messaging standard, adopted by NSE.
  • 2009: First to bring to India next-generation contactless Credit Card payments based on Near Field Communications technology with Citi Tap and Pay.
  • 1993/1998/2001: First to offer 24-hour Phone banking/Internet banking/SMS alerts.
  • 1986: Pioneered Cash Management.
  • 1985: First bank to launch a dedicated platform focused on serving the unique banking and wealth management needs of the Non Resident Indian.

    Citi is an employer of choice in India and serves the full spectrum of clients - from helping India's top global corporations commit capital, make markets and manage their global cash positions to supporting the growth ambitions of the country's small and mid-sized enterprises and enabling individuals and households save, invest, spend, borrow and protect their money with trust and confidence.

    Citi India's products and services are organized under two major segments: Institutional Clients Group (ICG) and Global Consumer Bank (GCB).

    The ICG serves Citi's best-in-class products, services and execution through Global Banking, Global Markets, Treasury & Trade Solutions, Securities & Fund Services and Citi Research. Citi Private Bank is also a division of the ICG. In 2020, Citi has been ranked as a top bookrunner in ECM and DCM and #4 bank in M&A. We helped raise US$11.8 billion of capital from bonds and loans and US$18.6 billion of equity capital for our clients in India and advised on US$6.7 billion worth of announced M&A deals.

    Under GCB, Citi India offers the full range of consumer banking products and services. We serve our clients across the entire wealth continuum as they grow in affluence. We offer solutions for clients in every segment – beginning with our path-breaking salaried proposition (Suvidha), the emerging affluent (Citi Priority), the affluent (Citigold) and the High Net Worth individuals (Citigold Private Client). We pioneered the NonResident proposition in 1985 to serve the global Indian's unique banking and wealth management needs. With 2.65 million credit cards in force and the highest spend per card amongst major retail issuers, Citibank offers a full suite of market leading products, across categories - premium, rewards and co-branded.

    For the fiscal year ended March 31, 2020, Citibank India reported a Profit After Tax of INR4,918 crores.

DCM

  • On March 25, 2021, Shriram Transport Finance Limited priced US$225 million tap issuance of the original deal priced in January 2021 at a tighter reoffer yield of 4.2% on the back of strong secondary performance. Citi acted as Joint Global Coordinator and Bookrunner
  • On March 23, 2021, Genpact priced US$350 million 5-year senior unsecured guaranteed notes. Citi acted as a Joint Bookrunner
  • On March 18, 2021, Delhi International Airport Limited priced US$450 million 4-year 7-months secured bonds. This was the first ever green bond from Airport sector in Asia. Citi acted as a Joint Global Coordinator, Dealer Manager and Consent Solicitation Agent.
  • On March 3, 2021, HCL priced US$500 million 5-year senior unsecured guaranteed notes. This was the highest rated issuance from India. Citi acted as sole global coordinator
  • On February 25, 2021, Bharti Airtel priced US$1.25 billion dual tranche bond across 10.25-year and perpetual tenor. Citi acted as a Joint Bookrunner and Joint Lead Manager
  • On January 26, 2021, Adani Ports and SEZ Limited priced US$500 million 10-year senior unsecured bond offering. Citi acted as a Joint Global Coordinator
  • On January 26, 2021, GMR Hyderabad International Airport Limited priced US$300 million 5-year senior secured bond offering. Citi acted as Joint Global Coordinator and Bookrunner
  • On January 6, 2021, Shriram Transport Finance Limited priced US$500 million 3-year 2-months senior secured social bond offering. Citi acted as a Joint Global Coordinator and Bookrunner
  • On January 6, 2021, State Bank of India priced US$600 million 5.5-year senior unsecured bond offering. Citi acted as Joint Lead Manager
  • On January 4, 2021, EXIM Bank of India priced US$1 billion 10-year senior unsecured bond offering. Citi acted as Joint Lead Manager

ECM

  • On February 09, 2021, Citi, acting as a Global Coordinator and BRLM (GCBRLM), led the c. US$ 521 million Initial Offer of Units of Brookfield India Real Estate Trust (“Brookfield REIT”). The issue was a 100% primary offering and Citi was one of the four GCBRLMs in an 11-bank syndicate
  • On February 09, 2021, On February 16, 2021, Citi, acting as a joint book-runner, led a block trade to sell c. 6.1% stake worth c. US$205 million in Crompton Greaves Consumer Electricals Limited for Advent International. Deal priced at a tight discount of 3.8% to previous day’s market close price
  • On February 16, 2021, Citi acting as a lead manager to the issue, led a rights offering of equity shares worth c. US$410 million in L&T Finance Holdings Limited. The transaction witnessed robust subscription of 1.15x vis-à-vis median subscription of 1.0x for rights offerings since 2007
  • On February 24, 2021, Citi acting as sole broker, led a block trade aggregating to c. US$ 4.1 billion for Robert Bosch GmbH and Robert Bosch Internationale Beteiligungen AG in Bosch Limited, a subsidiary of Robert Bosch GmbH (c. 68% holding), listed in India. The transaction was part of a restructuring of Robert Bosch Group
  • On March 09, 2021, Citi acting as a book running lead manager, led the ~US$164 million qualified institutions placement (“QIP”) for KKR backed Max Healthcare Institute Limited. Transaction was launched at a 6% discount and is expected to price at 0% discount to the closing price on the day of launch
  • March 10, 2021, Citi acting as the “sole” Global coordinator and joint bookrunning lead manager, led the block trade to sell c. 5.8% stake worth c. US$757 million in BPCL for BPCL Trust for Investment in Shares. The trade was executed at a ~6.2% discount to previous closing price and at par with the 1-month Volume-weighted average price (VWAP)
  • On March 19, 2021, Citi acting as a GCBRLM, led the c. US$161 million Initial Public Offer of Equity Shares of Warburg Pincus-backed Kalyan Jewellers India Limited. Transaction witnesses a healthy subscription of 2.61x with Citi as the highest generator of anchor and main book demand
  • On March 31, 2021, Citi acting as a book running lead manager, led the c. US$409 million QIP for IDFC First Bank Limited. Transaction was launched at a tight discount of 1.6% to previous closing price

M&A

  • On Feb 4 2021, Reliance Industries Ltd (RIL) agreed to sell its entire stake in certain upstream assets in the Marcellus shale gas asset in south-western Pennsylvania in the US for $250 million. The assets controlled by RIL’s wholly-owned unit Reliance Marcellus LLC and operated by affiliates of EQT Corporation, a US based energy company engaged in hydrocarbon exploration and pipeline transport, will be sold to Northern Oil and Gas (NOG) Inc.
  • On Feb 17 2021, Bharti Airtel Ltd agreed to buy U.S. private equity firm Warburg Pincus’ 20% stake in its direct-to-home television arm for $429 million. Bharti Airtel, which is looking to consolidate the shareholding of its consumer facing businesses, said it will issue about 36.5 million shares to a Warburg Pincus affiliate at INR 600 per share, and pay up to $142 million in cash.

    Citi India is focused on building Corporate Citizenship programs that enable progress and drive change across communities, and are in line with the priorities of The Government of India, Citi Foundation, and Citi globally. Since 2014, Citi India has impacted more than 15 million individuals from low-income households through 58 partnerships via INR490~ crore in CSR investments. In FY21, Citi India shifted its priority from funding individual NGOs to creating initiatives across seven critical areas – Disaster Relief, Entrepreneurship Development, Youth Employability, Inclusive Finance, Art and Culture, Social Innovation, and Good Citizenship –partnering 26 NGO partners under various impact areas. At a time when every incremental investment mattered amidst the pandemic, the bank’s core values of innovation, digitization, and thought leadership, led to the creation of programs that had on-ground and demonstrable impact, backed by best practices and standardized metrics. In addition, since its inception in India in 1999, the Citi Foundation grant program has catalyzed opportunities for more than 3 million individuals across the country.

    The impact areas and programs in FY21 are as follows:

  • Disaster Response: With COVID-19 posing health, economic, and infrastructural challenges, Citi invested INR 75 crore in two phases towards relief and rehabilitation efforts. Immediate support was delivered through rations, and meals to support those whose livelihoods were lost, while testing was offered free of cost in the hinterlands of Maharashtra at the start of the outbreak. Through ‘You Nominate We Donate.’ door-step deliveries of more than 850 tons of monthly rations and hygiene supplies were made across 20 locations, including 13 large cities, to more than 26,000 families – 104,000 to 130,000 individuals - nominated by 14,350 Citi employees (~75% of the employee base). Through Project Ummeed, Citi supported more than 115,000 RT-PCR tests across 15 government hospitals across Maharashtra. Citi also donated masks, sanitizers, and dry fruits, for children undergoing treatment for cancer, and their families, at the locations of St Jude India ChildCare Centres, and 1 million meals to daily wage earners through Akshaya Patra Foundation. Citi also made a 2:1 contribution to the PM-Cares Fund for customers’ Card contributions.
  • Promoting Talent - Leadership for Tomorrow: To support entrepreneurship development, Citi India invested in six startups incubated by Society for Innovation and Development, founded by Indian Institute of Science (IISc), Bengaluru. These startups are developing a range of solutions such as instant testing kits, drones for disinfecting large areas and crowd-control support, hand-held inflammation devices, mobile testing vans and a vaccine amongst others, to counter the pandemic.
  • Pathways to Progress: Providing market-demand driven courses with the target to reach +78,000 youth (~43% women) on an interactive digital platform, with the aim to provide ~70% of them with placement opportunities. Also in line with India’s focus on creating employment opportunities with the courses representing sector demands of healthcare, digital marketing and sales, BFSI, IT/ITES, logistics and equip them with tech, English, and other job readiness skills, to raise employability.
  • Bank for Good: Providing doorstep financial literacy with the aim to reach 100,000 women in Karnataka and creating a financial inclusion stability corpus to provide educational loans to youth from low-income backgrounds to pursue skill development courses.
  • The Citi India Social Innovation Lab: Incubating five start-ups each in agri-tech and in medi-tech as well as 15 fin-techs. In addition, created an accelerator program for five growth-stage start-ups – all of whose solutions will have a multiplier effect for the communities they serve.
  • Art for Change: Proliferating the arts across communities and enriching our heritage for generations to come. Through our partnership with Chhatrapati Shivaji Maharaj Vastu Sangrahalaya (CSMVS) we are conserving 500 art objects while the ‘Museum on Wheels’ aims to reach 800,000 children and 800 teachers through two buses. We also created two state-of-the-art ‘reserve collection storage’ areas and enabled the preventive conservation of ~20,000 art objects. Being associated with National Centre for the Performing Arts (NCPA) for 14 years, we continue to reinforce the ‘Guru Shishya’ tradition by sponsoring the training of 26 shishyas, providing scholarships to nine young musicians, and supporting online training sessions for ~850 children through the Music for Schools program. We also co-hosted two digital series of Aadi Anant festival. In addition, we are providing traineeship and employment opportunities for young musicians in western classical music and co-hosted to digital series of Symphony Orchestra of India concerts.
  • Giving at Citi: One of the few companies with a self-created employee payroll giving program, Giving at Citi, where Citi matches every employee’s contribution. Furthermore, through the ‘Built by Citi. Run by You.’ program, in addition to the matching contributions made, Citi institutionally contributes to the NGOs empaneled through the payroll program. This way the impact of even INR 100 from an employee can go a long way in the overall initiative.
  • Global Community Day (GCD): Across the globe, Citi employees, including in India, participate in the bank’s GCD.

    The Asset Triple A Digital Awards 2021

  • Digital Bank of the Year
  • FinanceAsia Country Awards 2021

  • Best International Bank in India
  • IBA Banking Technology Awards 2021

  • Best Use of IT & Data Analytics - Winner (Foreign Bank)
  • Best IT Risk & Cyber Security Initiatives – Winner (Foreign Bank)
  • Best Technology Bank of the Year - Runner Up (Foreign Bank)
  • The Customer FEST Show 2021

  • Best Use of Insights to Enhance Customer Experience
  • Best Use of Mobile to Enhance Customer Experience