Global banking group Citi has joined the growing list of foreign banks that have turned bullish on Asia, saying key economies in the region are becoming the new “safe haven” for portfolio investments on the back of lingering problems in the United States and the Europe.
By Michelle V. Remo
The “financial quotient” of Filipinos hit an all-time high of 52.6 points in 2011 as more people in the country have been engaging in savings, investments, and better credit management.
Citi once again won the nod for the Best Foreign Commercial Bank in the Philippines for the 14th consecutive year in FinanceAsia’s annual Country Awards for Achievement 2012. Hong Kong-based FinanceAsia, a leading financial publication in Asia, recognizes the best financial services firms in each country across the region with this award.
Citi said Philippine bonds were worth investing in, given projections that the government’s tax effort, a major indicator of credit worthiness, would continue to improve this year.
Citi is celebrating its 200th anniversary through community service. On June 16, Citi will mark 200 years of serving clients around the world. As it approaches this milestone, the global leader in financial services is inviting its employees in more than 100 countries to celebrate the day through community service.
Spain will likely need emergency help from international lenders this year to shore up its banks and public finances, a leading economist at major financial group Citi said on Wednesday.
Citi in Asia-Pacific was awarded Best Bank by leading industry trade magazines IFR Asia, FinanceAsia and The Asset in their recently announced annual best bank awards. Earlier in 2011, Citi picked up a similar award from Euromoney in Asia making it a clean sweep for 2011 for Citi in Asia-Pacific, the first time the bank has picked up all four in a single year since 2004.
By Michelle V. Remo
Citi has expressed optimism that the number of Filipinos belonging to the “emerging affluent” segment—composed of people with assets between $10,000 and $100,000—will grow by 10-12 percent every year over the medium term. The international financial institution said this trend poses a good opportunity for it to grow its business in the Philippines by marketing [...]
By Doris C. Dumlao
President Aquino may have left out the Public-Private Partnership (PPP) program for infrastructure-building when he delivered his State of the Nation Address (SONA) before Congress on Monday, but it remains a key investment theme for the Philippines in 2012, according to American banking giant Citigroup. In a research paper issued Tuesday, Citigroup said the President’s [...]