Citi named Asia’s best bank

MANILA, Philippines - Euromoney named Citi the Best Bank and the Best Investment Bank in Asia for 2013, the first time a bank has been awarded the top two regional awards from the leading industry magazine.Citi also picked up the Best Investment Bank award for the Philippines and was cited for its impressive leap in debt league tables. Citi India also won for the same category, as well as for Best Equity House.

The awards were decided by the editors of Euromoney magazine and the Best Bank award was picked up by Citi Asia Pacific CEO Stephen Bird at an awards ceremony in Hong Kong on July 18.

“This is excellent recognition for the team in Asia for their passion and commitment, day in day out, supporting our clients. We are delighted to make history as Euromoney’s first double winner for best bank and best investment bank in Asia. I would like to extend our grateful thanks to our clients for their trust and support. This award is further evidence of the pivotal role played by Asia Pacific in Citi’s strategy to be the world’s leading global bank,” Bird said. In the Euromoney global awards announced earlier in July, Citi picked up Best Emerging Markets Bank.

Citi Country Officer for the Philippines Batara Sianturi echoed Bird’s appreciation for the awards, as well as the recognition for Citi Philippines as Best Investment Bank. “Amidst a challenging environment, the team came together to deliver for our clients, resulting in a strong performance across debt, equity, and advisory.  This is a most welcome win and we thank the editors of Euromoney for the recognition,” Sianturi said.

In the editorial write up announcing the Asia awards, Euromoney highlighted Citi’s progress in banking the region’s emerging market champions and its achievements in China.

“Citi has succeeded in bagging some of the largest clients in the region and being the first international bank to launch a sole branded credit card in China is a breakthrough delivering brand awareness,” the magazine said.

Citi Asia has operations in 17 markets across the region and is Asia’s largest wealth manager with over $210-billion assets under management (AUMs) with leading retail and institutional businesses. Citi Asia is the largest region for the bank’s revenues and profits outside North America contributing over a quarter of global profit. In the most recently reported numbers, Citi Asia Pacific revenues for the second quarter were up seven percent to $4 billion and income before tax was up 28 percent year on year to $1.7 billion.

For the investment bank award Euromoney highlighted Citi’s strong momentum.

“Citi is realizing its potential across the board and is in or around the top three (equity underwriting, debt underwriting and M&A) constantly for investment banking.”