Citi named best bank for sustainable finance

MANILA, Philippines — Citi Philippines was recognized as ‘The Best Bank for Sustainable Finance’ at the recently announced 2022 The Asset Triple A Awards. This is the 17th consecutive year that Citi Philippines has won this top honor.

The Asset’s annual Triple A recognition is one of the industry’s most prestigious awards for banking, finance, treasury and the capital markets. A financial multimedia group, The Asset offers unparalleled insight on the latest news in the industry to a large base of Asian issuers and global institutional investors, and this also informs the assessment criteria for its annual awards. The Asset Triple A Country Awards for Sustainable Finance evaluates and recognizes sustainable finance activity in the domestic markets.

Citi Philippines was also recognized in two additional categories, winning Best Sustainability Bond for the Republic of the Philippines and Best Social Loan for Home Credit Philippines.

Citi acted as joint lead manager and joint bookrunner for the Republic of the Philippines’ $2.25-billion triple-tranche five-year, 10.5-year, and a debut sustainability 25-year bond issuance out of the state’s Sustainability Finance Framework.

The bank also expanded its social finance program with Home Credit, the largest consumer finance company in the Philippines, by increasing its credit facility to P820 million, up from P420 million approved and drawn last May.

“We are honored to be recognized by The Asset Triple A awards for the 17th year in a row. These awards affirm the excellent work that we do for our clients in the Philippines and the expertise we provide on sustainable financing solutions. We have been in the country for more than 120 years and we remain committed to enabling progress and supporting growth in the Philippines,” Citi Philippines CEO Paul Favila said.