JAKARTA, NNC – Citi has been awarded Asia’s Best Bank at the Euromoney Awards for Excellence. The award, decided by the editors of the magazine, recognizes the bank that has made the most progress in the region over the last 12 months.
CEO Citi Indonesia Batara Sianturi said, “Indonesia is an important contributor to Citi’s growth plans and this award is recognition that our platform is outperforming and contributing strongly to Citi’s future. The priority now is to build on these solid foundations and grow further to support Citi’s global targets”.
The Asia awards came a week after Euromoney announced Citi globally as the “Best Investment Bank”, “Best Bank for Financing” and “The World’s Best Bank for Corporate Responsibility”.
Editor Euromoney Award for Excellence said, “The consumer and digital revamp has helped Citi come up with numbers that are impressively diverse in their sources but it is not just about consumer by any means. Citi excels in most areas it handles. Its transaction banking and markets businesses, for example, are among the best in the region. Big but innovative, it is the name to beat in cash management and trade finance, embedding itself in the supply chain of its clients”.
In the last 12 months Citi posted four consecutive quarters of growth, adding over US$ 1 billion in revenues and now accounts for 25% of Citi’s global profit.
In the last year the bank made strong gains in digital and wealth management – adding over 1 million new mobile banking clients and grew its Asia client assets under management to US$ 256 billion.
In its institutional business the bank’s Asian network is increasingly supporting the growth in intra-Asia trade with revenues from client work in Asian trade corridors up 33% in 2018. The bank also raised over US$ 100 billion from international capital markets for Asian clients and advised on over US$ 50 billion in M&A involving Asian companies in the last 12 months.