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Citi named best bank in Asia
Publication Date : 17-03-2014
Citi has been named best bank in Asia by The Asset Magazine for the 15th year in a row.
Citi also picked up a prize for best loan house at the annual Triple-A regional banking awards, which are decided by the editorial team at the 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 chief executive for the Asia-Pacific.
Citi operates close to 600 branches and has over 33 million retail banking accounts in Asia.
On the institutional side, Citi raised over US$120 billion for Asian clients from international capital markets last year and advised on $60 billion in merger and acquisition deals in the region.
Asia generated 27 per cent of Citi's net income last year, making the region the largest for the bank outside of North America.
Earnings before interest and tax in Asia rose 13 per cent last year to $5.8 billion, while revenues grew 2 per cent to $15 billion.