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 400051.

Pramit Jhaveri

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 Service Centres, has been a leading offshoring unit for Citigroup globally, providing employment opportunities in the areas of technology, processing, analytics and financial processes.

  • 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. Citi has topped the ECM league table for the last 11-year period, helping clients raise USD75 billion of equity since 2005. For four years since CY2012, Citi has been the No.1 M&A advisor in India and continues to maintain a high mindshare of strategic dialogues with Indian and international clients. Citi India has topped the G3 bond league table for five years (since 2011). In FY16 till date, Citi helped clients raise c.USD13 billion in capital across equity and debt markets and has ranked as one of the leading banks in debt and equity capital markets over the last five years.

    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 (CitiAtWork), the emerging affluent (Citibanking), the new wealth builders (Citi Priority), the affluent (Citigold) and the High Net Worth individuals (Citigold Private Client). We pioneered the Non-Resident proposition in 1985 to serve the global Indian’s unique banking and wealth management needs. With 2.4 million credit cards in force and ~14% share in card spends, Citibank offers a full suite of market leading products, across categories - premium, rewards and co-branded.

    For the fiscal year ended March 31, 2016, Citibank India reported a Profit After Tax of INR3,233 crores.

Debt Capital Market
Citi has been joint bookrunner to:

  • Adani Ports and Special Economic Zone Limited for its inaugural USD650 million 3.50% 5-year Senior Unsecured Fixed Rate Notes Offering. Citi was also Joint Lead Manager on the deal.
  • Reliance Industries Ltd for a USD1.0 billion 10-year Fixed Rate Senior Unsecured Notes under the 144A/Reg S offering format. Citi was also Joint Global Coordinator on the deal.
  • Delhi International Airport Private Ltd for an inaugural USD288.75 million 7-year Senior Secured USD bond at a coupon of 6.125%. Citi was also Joint Global Coordinator on the deal.
  • Reliance Industries Ltd for a USD750 million 30-year Fixed Rate Senior Unsecured Notes under the 144A/Reg S offering format. Citi was also Joint Lead Manager on the deal.
  • Bharat Petroleum Corporation Limited for a USD500 million 4.000% 10-year Fixed Rate Senior Unsecured Notes Offering under the Reg S format.
  • Bank of India for a USD750 million 3.125% 5-year Fixed Rate Senior Unsecured Notes Offering under the Reg S format.
  • Export-Import Bank of India for a USD500 million 2.750% 5.5-year Fixed Rate Senior Unsecured Notes Offering under the Reg S format. The transaction was the first USD bond issuance by an Indian Financial Institution in 2015.

Citi has been Sole Bookrunner and Lead Manager to:

  • Samvardhana Motherson Automotive Systems Group B.V., a subsidiary of Motherson Sumi Systems Limited, for €100 million, 3.700% 10-year Senior Secured Fixed Rate Notes Offering.

Citi has been arranger to:

  • Tata Motors Finance Solutions Limited for INR3,250 crores (~US$525 million) via Commercial Paper and Non-Convertible Debenture issuance as sole arranger.

Equity Capital Market
Citi has been sole bookrunner to:

  • Apollo Private Equity to sell their 7.4% stake in Dish TV through 2 block trades - USD77 million (4.4%) and USD42 million (3.0%) block trades. Both trades were executed at tight discounts despite the recent sharp run up in the Dish TV stock.
  • AB Volvo, to sell their 8.4% stake in Eicher Motors (“Eicher”) through 2 block trades - USD270 million (3.7%) in June 2015 and USD310 million (4.7%) in March 2015. Citi provided a one-stop solution to Volvo across custody, brokerage, investment banking and FX.

Citi has been joint bookrunner to:

  • Tata Motors' USD1.2 billion Rights Offering - the first Indian rights offering involving multiple equity securities and the first SEC registered ADR rights offering by an Indian corporate. Citi was the designated lead coordinator anchoring all aspects of the transaction, providing a comprehensive suite of services to Tata Motors across Investment Banking, Capital Markets, Depositary and FX services to ensure a smooth and flawless execution.
  • UFO Moviez’s INR 6 billion Initial Public Offering ("IPO") - the first IPO in the digital cinema distribution and in-cinema advertising business in India. Led the global marketing effort to position the company as a unique Indian in-cinema advertising play, given no listed peers in India or globally.
  • IndusInd Bank’s primary offering of USD680 million through a qualified institutional placement. The deal was priced at INR 845 per share, a 2.5% discount to its last closing price.

Mergers & Acquisitions:
Advised:

  • LafargeHolcim on the proposed divestment of certain of its assets in India with an annual cement capacity of 5.15 million tonnes, for an enterprise value of INR50,000 million (approximately USD775 million), to Birla Corporation Limited, subject to the approval of the Competition Commission of India.
  • The Rohatyn Group and other shareholders of Sharekhan Limited (India’s leading online retail broking house) on the proposed sale of their 100% stake in Sharekhan to BNP Paribas.
  • ABN Amro Bank N.V. on the sale of its diamond and jewellery activities to IndusInd Bank Limited. The business being transferred has total assets of approximately INR 45 billion (USD723 million), and is the premium lender for the diamond and jewellery industry in India, financing the flow of goods through the diamond value chain.
  • Reliance Industries Ltd. and Pioneer Natural Resources on the announced sale of 100% interest in EFS Midstream LLC to Enterprise Products Partners L.P. for a total consideration of USD2.15 billion.
  • Centerbridge Partners LP on its acquisition of Senvion SE, a 100% subsidiary of Suzlon Ltd in an all-cash transaction, valued at EUR 1 billion.
  • One97 Communications (which runs Paytm, India's largest mobile payment and commerce platform) on a minority stake sale to Ant Financial Services Group of China.
  • Since its inception in 1999 the Citi Foundation grant program has catalyzed opportunities for more than 2.5 million people across the country while working in the areas of Financial Capability & Asset Building, Youth Education & Livelihoods, Enterprise Development and Microfinance. In 2015, Citi Foundation invested USD2 million through grants to eight organizations to support projects benefitting more than 300,000 people.
  • Citi India is committed to enabling socioeconomic progress in the communities where we live and work. The Corporate Citizenship function is the umbrella entity for all corporate social responsibility activities undertaken by Citi India, and is an important and integral element of the daily functioning across the organization. We continually strive to be active participants and contributors to the well-being of the community in which we live and work. Each year, we identify and endeavor to support the nation’s priorities, be they education, empowerment, or environmental sustainability.
  • Citi India has contributed more than INR 121 million towards programs in education, preventive healthcare, protection of natural heritage, women’s empowerment and environmental sustainability in FY14/15.
  • Employee engagement activities and volunteerism are strong drivers of the citizenship program. 1,289 Citi employees, families, friends and NGO partners came together in seven locations to participate in 10 events, basis the theme ‘Swacch Bharat’ at Citi’s Global Community Day on June 13, 2015.
  • Employee engagement activities and volunteerism are strong drivers of the citizenship program. 1,289 Citi employees, families, friends and NGO partners came together in seven locations to participate in 10 events, basis the theme ‘Swachh Bharat’ at Citi’s Global Community Day on June 13, 2015.
  • In 2015, ~600 employees contributed INR5.2 million to seven NGOs through the payroll giving program.
  • The protection and promotion of Indian art and culture has been an integral part of Citi. Citi celebrates the Guru-Shishya tradition through its partnership with the National Centre for the Performing Arts (NCPA) with the Citi-NCPA Aadi Anant Festival of Indian Music, the Guru-Shishya Scholarship Program, and the Music for Schools program. Since 2007, Citi has been a patron of Symphony Orchestra of India, the only one of its kind. Citi has also partnered with Chhatrapati Shivaji Maharaj Vastu Sangrahalaya to conserve and restore 150 objects of national importance and to run the Museum on Wheels program on a bus.
  • In August 2011, Citi India set up its Diversity Council, which has introduced and implemented several initiatives under the pillars of awareness, sensitization, infrastructure, work policies, recruiting, performance management and management accountability. Several of these have been industry firsts and all of these have helped make Citi an even more inclusive place to work in.

FinanceAsia Platinum Awards - 20th Anniversary
Best Foreign Bank
Best Foreign Investment Bank
(basis last two decades of awards, polls and financial data)

Finance Asia Country Awards for Achievement 2016
Best Foreign Bank (4th consecutive year)
Best Foreign Investment Bank (nine out of 10 years)

Readers Digest's 'Trusted Brand' 2016
Citibank India's credit cards - 'Gold'

The Asset Triple A Asset Servicing, Fund Management and Investors Awards 2016
Best Sub custodian in India

Business Today 2016 Best Companies to Work for
Debut at #20

Businessworld - Best Bank Awards
Best Foreign Bank (2nd consecutive year)

Indian Banks Association - 11th Banking Technology Awards 2016
Awarded Best Technology Bank of the Year
Other recognitions:
Best Use of Technology to enhance customer experience
Best Risk Management, Fraud, and Cyber Security Initiatives
Best use of Digital and Channel Technologies

CIBIL Transunion 2016 Credit Information Conference
Best Data Quality Amongst Foreign Banks (2nd consecutive year)

ET's Best Brands Survey 2015
Most trusted brand amongst foreign banks (5th consecutive year)

The Asset Triple A Country Awards 2015
Best Bank - Global (third consecutive year)
Best Corporate and Institutional Bank – Global (12th year)
Best Loan House
Best M&A House

Dun & Bradstreet & Cedar - India's Top Banks & Banking Awards 2015
Best Foreign Bank – Retail
Best Foreign Bank – Overall

2015 World's Best Digital Banks Awards
Best Consumer Digital Bank in India (7th consecutive year)

Euromoney Awards for Excellence 2015
Best Investment Bank (3rd consecutive year)
Best M&A House

Finance Asia Country Awards for Achievement 2015
Best Foreign Bank (3rd consecutive year of top ranking)

The Asset Triple A Treasury, Trade and Risk Management Awards 2015
Best Service Provider in Risk Management

FE Best Bank’s Award 2013-14
Best Foreign bank

Euromoney Private Banking and Wealth Management Survey for 2015
Ranked 1 amongst International Clients