Citi India’s FY16 profit slips 6% to Rs 3,233 crore

 Describing the numbers as "a reflection of responsible and sustainable growth", Citi India chief financial officer Niraj Parekh said, "During the period, our focus on superior asset quality and ability to service institutional and retail clients translated to high quality earnings, despite the macroeconomic pressures. Our balance sheet is in very good shape now, even in a challenging year." 

Citigroup India's profit before tax marginally fell by 2.5 per cent to Rs 5,777 crore from Rs 5,923 crore in 2015-16, while the core net interest income rose 10 per cent.