Citibank housing portfolio up 40%

Mumbai: Citibanks housing portfolio has increased by 40 per cent to Rs 1,200 crore. Says Citibanks Global Consumer Bank chief Sarvesh Sarup: "The bank will also increase its funding by entering into securitisation deals. Last year, we securitised about Rs 100 crore worth of loans to insurance companies and mutual funds."

Sarup says Citibank Indias retail liabilities amounted to Rs 12,000 crore, of which about 60 per cent was accounted for by NRIs. "The banks auto-loan business earned a profit of Rs 31 crore last year the highest in the industry."

Citibank is also in the vanguard of the Internet-banking movement, with a high adoption rate. About 16 per cent of the banks customers are active online. In the same period last year, it was 9 per cent. The bank started Internet-banking in 1999.