The return on capital is far better if we focus on institutional clients rather than take on local banks in retail banking on their hometurf,” said Khullar. “If you look around the world, I don’t think you will find any global bank in the consumer or retail banking segment with a material market share in a non-home market.

Citi has a large investment bank as well and was on all tech IPOs last year as well as Reliance’s $4 billion multi-tranche offering. We’re also targeting clients, including fintech and software, who need digitisation or Citi’s networks to improve efficiency,” said Khullar. We will be looking at mid-sized and emerging companies with ambitions of scale and crossborder operations. Citi India’s commercial bank is the third largest within the group. 5% of electronic payments, “said Khullar. We have an 8% share of India’s trade volumes (flows), 40% of India’s unicorns bank with us, and we do around 4.

We have a 30% share of MNCs in India and a similar 30% in custody flows. “Among foreign banks, we have the widest breadth and depth of products in institutional banking. Citi is hiring around 5,000 people every year for its service centre in India, including sophisticated artificial intelligence and machine learning jobs.

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