Citigroup, HSBC, and Deutsche Bank Report Healthy Growth in India

Citigroup Inc. (NYSE:C), HSBC Holdings plc (NYSE:HBC) (LON:HSBA) (HKG:0005) and Deutsche Bank AG (NYSE:DB) (ETR:DBK) (FRA:DBK) have posted strong set of numbers in Asia’s third-largest economy for the fiscal year 2012, amid robust growth in consumer business, and improving asset quality.

Citigroup India on Tuesday reported a 35 percent rise in profit after tax to 19.22 billion Indian rupees ($352 million) for the financial year 2011-12, from 14.24 billion rupees in FY11. Total assets increased 15 percent to 1.28 trillion rupees as of 31 March, from 1.1 trillion rupees in the previous fiscal, driven by growth in...