Citi scoops Best Bank in Asia 2015 award

Citi also picked up Best Investment Bank and M&A house in India at an awards ceremony in Hong Kong on July 16.

The awards were decided by Euromoney editors. In the global awards announced earlier in July, Citi was named Best Global Bank and Best Emerging Markets Investment Bank by Euromoney.

“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 Citi to meet their financial needs,” said Mark Slaughter, head of Corporate and Investment Banking Asia Pacific.

“Asia Pacific is at the heart of Citi’s transformation and we are well placed to capture more of the growth opportunities in this region,” Slaughter added.

In the editorial write up announcing the Asia awards, Euromoney highlighted Citi’s progress in Asia and the balance of its business.

“Citi…where no country accounts for more than 10 per cent of revenues, is displaying an appreciation for dispersing risk across geographies and potentially shielding the company from swings in fortune for any market…the bank also made strides in a number of areas connected to the internationalisation of the renminbi and the development of the Shanghai-Hong Kong stock system,” it said.

Asia is the largest region for the bank’s revenues and profits outside North America as it had contributed over a fifth of global profits in 2014. In the most recently figures for the second quarter of 2015 reported on July 15, Citi Asia Pacific revenues for the second quarter were up 5 per cent to $3.5 billion and net income was up 54 per cent year on year to $1.03 billion.

Citi Asia has operations in 17 markets across the region and is one of Asia’s largest wealth managers with over $255 billion worth in assets under management (AUMs) with leading retail and institutional businesses.

During the awards period Citi helped raise more than $200 billion for capital market clients and advised on close to $100 billion in M&A deals.