At least five foreign and private banks are vying for the consumer banking franchise of Citi India, particularly credit cards but the deal may not be a “game-changer” for all the shortlisted candidate
The lender plans to cash in on the consumer credit that is likely to peak this festive season as economic activity picks up.
However, the lender has been able to register a near three-fold rise in net profit to Rs 312 crore for the year ended March 2021 (FY21), up from Rs 111 crore in FY20.
The gross non-performing assets of the combined entity shot up to 12.93 per cent, with a bulk of the strain coming from the erstwhile LVB's portfolio.
Hackers have allegedly compromised servers of enterprise communications firm Route Mobile, even as the company claimed that data of its customers is safe.