Citi sweeps Best Bank in Asia awards

MANILA, Philippines—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.

In the editorial on Citi winning the Bank of the Year award, IFR Asia said: “Citigroup’s Asian platform is…one that is stronger than ever. The market share it gained over the last 12 months showed that it is once again a force to be reckoned with in Asian banking.”

FinanceAsia’s editorial noted: “Citi has had one of its most successful years on record in Asia. Highlights included the bank leading 15 initial public offerings in China, the busiest 12-month period in its history, boasting total deposits and assets under management that top all-time highs of US$240 billion and US$190 billion respectively, adding close to 100 of its new smart banking branches and opening 20 China desks across the world.”

The Asset said in its award write-up: “Citi again beat the competition for its achievements in 2011. The bank has now re-established itself in more ways than one. As a debt house, it has shown the way particularly in restoring its position in the loan and the bond markets; as an advisory house, it has surprised rivals in having the ear of some of Asia’s most important corporates. In transaction banking, Citi is a thought leader and continues to win the nod of the world’s most important companies. Its flow business is regarded as first-rate – and its business in Asia is broad-based and growing.”

“These awards are a tribute to the talent of the Citi team and its relentless focus on client excellence across the entire region. This is a great way to start the year that marks our 200th anniversary,” said Stephen Bird, CEO for Citi in Asia.

In 2011 Citi had one of its most successful years on record opening over 100 new Smart Banking branches and helping clients raise over US$150 billion from the capital markets, according to Dealogic data. In 2011 Citi in Asia reported revenues up 5 percent to $15.2 billion and generated 35 percent of the company’s net income.