Archive · 21 Aug 2026
Citi’s India Retail Exit Fuels Institutional Asset Growth
Citi used to have a consumer banking business in India.
It sold that business in March 2023.
After the sale, Citi moved money and staff toward serving companies and financial institutions.
This part of the bank lends money, supports trade and helps businesses manage financing.
Its institutional assets grew by about ₹24,000 crore in one year.
The total institutional asset book is now more than ₹1 lakh crore.
Loans made up about 60% of the growth, while structured financial products made up the rest.
Citi believes this new focus can produce better long-term results in India.
Citi India’s institutional asset book crossed ₹1 lakh crore after growing by about ₹24,000 crore in 12 months.
The institutional asset book has nearly doubled since Citi refreshed its strategy after exiting consumer banking in March 2023.
About 60% of the growth came from loans, including trade and corporate lending.
Structured products, including securitisation, commercial paper and corporate bonds, accounted for the remaining growth and expanded nearly fivefold.
Citi says it redirected capital and resources toward institutional banking, contrasting with other foreign banks that reduced their Indian retail operations.
- Who
- Citi India, led in this account by Chief Financial Officer Jeegar Shah.
- What
- Citi redirected resources from consumer banking to institutional banking, helping its institutional asset book exceed ₹1 lakh crore.
- When
- The consumer-business divestiture occurred in March 2023; the institutional asset book grew by about ₹24,000 crore in the following 12 months.
- Where
- India.
- Why
- Citi said it focused on institutional banking because it sees stronger competitive differentiation and sustained demand from corporate activity, trade flows and financing needs.
- Institutional asset book
- More than ₹1 lakh crore
- Growth in 12 months
- About ₹24,000 crore, or 30%
- Strategy change
- Consumer banking business divested in March 2023
- Loan contribution
- About 60% of institutional-book growth
- Structured-products growth
- Nearly fivefold since the consumer-business exit
- Institutional clients
- Indian corporates, multinational companies, financial institutions and commercial banking clients