In The Money

With transactions, retail, SMEs, wealth management, Citibank India is raking in the profits

- Clifford Alvares

THOUGH CITIBANK ranks as the fourth-largest lender in the US and one of the largest on the planet, its Indian arm will chase growth for its sake. Instead, Citi has held to its conservative streak — and, of course, it has turned out to be its winning strategy. Look at some of the parameters: operating profit in FY15-17 grew a mere 6.53 per cent, net worth expanded 6.69 per cent. But it is still the runner-up in the ‘Best Foreign Bank’ category in the 10th BW Businessworld Best Bank Survey 2016-17.