Citi PH named Best Bank in Asia

MANILA, Philippines – The Philippine unit of global bank Citigroup (or Citi) was named the Best Bank in the Asia Pacific region in 2012 by Asset Magazine.

This is the 9th consecutive year that Citi Philippines bagged the award decided by editors at the elite finance magazine.

The local unit was also cited as the Best Foreign Investment Bank for acting as joint lead manager and joint underwriter for the US$1 billion rights issue of BDO Unibank in July 2012. The transaction is one of the biggest in the Philippines.

“We are grateful for The Asset’s editorial team for their continuing recognition of our franchise,” said Citi Country Officer Sanjiv Vohra in a statement on Wednesday, April 10.

The Asia Pacific teams of Citi received several awards at the Asset’s annual Triple-A 2012 banking awards. These include Best Investment Bank and Best M&A house.

The Asset editors noted that 2012 was “a breakthrough year in capital markets” with Citi handling “key issuers via persistent and methodical client coverage.”

“These awards are well deserved for the team in Asia who has delivered outstanding solutions to our clients in all market conditions,” said Stephen Bird, CEO for Citi in Asia Pacific

Asia accounts for over 30% of the multinational bank’s global net income, Asset noted. – Rappler.com