Citibank's comprehensive revival plan for CitiFinancial India

  • PTI, Mumbai
  • |
  • Updated: Sep 09, 2009 20:16 IST

Citibank has drawn up a comprehensive revival plan for its loss-making subsidiary, CitiFinancial India, a top bank official said.

"We have a comprehensive revival plan for CitiFinancial, in terms of moving the asset base to more stable sectors," Citibank's Chief Financial Officer (CFO), Abhijit Sen, told reporters on the sidelines of a FICCI-IBA Banking summit here today.

The effort is to take the organisation back to profitability, Sen said.

The Citi group is unlikely to sell CitiFinancial and is currently undertaking a restructuring programme to make it profitable.

CitiFinancial India offers personal loans, home loans, home finance and loans against property.


also read

CCEA gives nod for IDFs to take over bank loans

blog comments powered by Disqus