“Encouragingly, at Citibank, strong earnings are being generated across all core banking segments,” he said. Retail banking and cards have already overtaken corporate banking income and have registered a growth of 33 per cent over the last year. From a credit quality perspective, our small business loans, nano loans, retail loans and credit card portfolios have performed exceptionally well. Our leadership in the LC business and our ability to maintain the cost of deposits at 5.5 per cent remain key strengths. “Given domestic macroeconomic conditions and global factors, we have concerns about our corporate and medium enterprise loan portfolio,” he said.
He concluded by saying, ‘Keeping the cost-to-income ratio below 45 percent for a bank of 8,000 has, in my view, been our most significant achievement.’