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Citibank's comprehensive revival plan for CitiFinancial India
Citibank has drawn up a comprehensive revival plan for its loss-making subsidiary, CitiFinancial India, a top bank official said.
Updated on: Sep 9, 2009, 20:16:50 IST
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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.
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