Citi named Best Bank in Asia by The Asset Magazine
Citi Philippines wins Best Bank for 10th year in a row
Citi was named Best Bank in Asia at the annual Triple- A 2013 regional banking awards from The Asset Magazine. This was the 15th year in a row Citi has won the Best Bank in Asia award from the magazine. Citi also picked up the Best Loan House in Asia award. The awards are decided by the editorial team at The Asset Magazine.
“In a highly competitive market this independent recognition is greatly appreciated by all of us at Citi. I would also like to thank our clients who place their trust in us to meet their financial needs day in and day out and without whom this award would not be possible,” said Stephen Bird, Citi’s CEO for Asia Pacific.
Citi in the Philippines also got the nod for Best Bank, a recognition it has been winning for the last ten years.
Citi, with close to 600 branches in the region, operates Asia’s leading retail bank with over 33m retail accounts. On the institutional side, Citi raised over US$120bn for Asian clients from international capital markets in 2013 and advised on US$60bn in M&A in the region.
In 2013 Asia generated 27% of Citi’s net income, making the region the largest for the bank outside of North America with Earnings Before Interest and Tax up 13% to US$5.8bn and revenues of US$15bn, up 2%.
In 2013 Citi continued to invest across the 18 markets in which it operates in the region including important progress on the goal to be Asia’s leading digital bank. This included launching credit card contactless payments; the next generation ATM Citibank Express in Asia and the 3 Citi Wallet in Hong Kong. The bank’s Renminbi capabilities continued to expand and during 2013 Citi was the first bank to launch a RMB cross border auto sweeping structure for a Chinese company. In December 2013 Citi signed the largest ever bancassurance deal in Asia Pacific with AIA Group Limited (AIA).