Citi India plans to buy $1 billion of asset-backed securities
Citigroup Inc.’s India unit is set to buy record asset-backed securities as domestic lenders seek liquidity amid sluggish deposit growth.
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The bank plans to buy asset-backed securities linked to retail loans, increasing its book by three-fold to over $1 billion by the end of the fiscal year, said Aditya Bagree, managing director and head of markets at Citi India. Citi expects close to $30 billion in the country’s total securitization volume in the fiscal year ending March 31, 2026.
The market for such bundled securities, known as securitizations, is small but growing in the country as Indian lenders seek to improve their credit deposit ratios. Private banks have historically been rare in the market, but have begun tapping it or exploring deals amid regulatory pressure.
“We’re still in very nascent stages of securitization in India,” said Bagree, speaking in an interview.
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