Citibank keen to expand branch network, says South Asia CEO
Global financial services provider Citibank today said it is keen to expand its branch network in India to enhance operations and serve existing customers better.india Updated: Oct 26, 2009 19:57 IST
Global financial services provider Citibank today said it is keen to expand its branch network in India to enhance operations and serve existing customers better.
"Citi would love to open more branches in India... As it enables us to better serve our existing customers," Citi South Asia Chief Executive Officer Mark T Robinson told reporters here on the sidelines of micro finance summit.
At the end of 2008-09, Citibank had 41 branches with 4,795 employees in the country.
Credit growth of Citibank, Robinson said, would be faster in commercial banking and Small and Medium Enterprises portfolios and relatively slower in consumer banking in the current fiscal.
Expressing optimism over the country's growth prospects, "On the (Indian) economy, outlook is very positive, we feel very good about the next 12 months," he said, adding the Indian economy is likely to grow close to six per cent in the current fiscal.
"This fiscal we are seeing approximately six per cent GDP growth (of India)," he added.
Last week, the Prime Minister's Economic Advisory Council (PMEAC) projected the Indian economy to grow by 6.75 per cent during the current financial year despite adverse impact of monsoon on farm sector output.