Citi India FY12 net up 35

Strong growth in commercial banking and mortgage businesses pushed the post-tax profit of Citi India by 35 per cent to Rs 1,922 crore in the year ended March against Rs 1,424 crore in the previous year.

Pre-tax profit rose 37 per cent to Rs 3,297 crore in the reporting year,up from Rs 2,402 crore in FY11,while its assets rose 15 per cent to Rs 1,28,428 crore from Rs 1,11,586 crore,the bank said in a statement. The good numbers are driven by growth in the commercial banking segment,higher trade assets for global banking customers and growth in the mortgage business,the American lender said.

The bank also saw its net non-performing loans dip to 0.9 per cent from 1.2 per cent in the previous year.