Citi Vietnam posts remarkable growth in 2018

February 27, 2019 | 15:24
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In 2018, Citi’s continued focus on being the Best for Clients payed dividends as the bank maintained its dominance in capital markets and corporate banking, where Citi arranged a number of landmark long-tenor transactions. Some of the recent mandates completed by
citi vietnam posts remarkable growth in 2018

Citi Vietnam include Joint Global Co-ordinator and Joint Bookrunner for Vinhomes’ $2.2 billion capital raising and global co-ordinator on the biggest initial public offering in the history of Vietnam, raising over $740 million equivalent for Vincom Retail’s existing shareholders. Citi remained lazer focused on deepening and widening its relationship with all segments of the corporate bank, including leveraging on its global network and country desks to serve the subsidiaries of multinational and commercial banking clients doing business in Vietnam, top Vietnamese companies, and other financial institutions.

Areas of growth included businesses such as treasury and trade solutions (TTS) where 2018 average assets were up 53 per cent on-year and markets and securities services. In October 2018, Citi TTS announced the launch of commercial cards in Vietnam, offering a comprehensive suite of innovative payment solutions for corporate clients.

citi vietnam posts remarkable growth in 2018

Citi is the first bank in Vietnam to offer virtual card accounts, a next-generation global digital payments solution. In consumer banking, Citi retained leadership in technology providing an extensive platform across online and mobile banking. With these comprehensive digital capabilities, Citi Vietnam became the first country globally to accomplish the milestone of 100 per cent penetration with clients for e-statements.

In 2018, the bank recorded 82 per cent on-year growth in downloads of the Citi Mobile® App. Citi’s customers show strong engagement, with the number of those who actively use the app increasing by 47 per cent on-year. As a testimony to the quality of Citi’s value propositions, consumer credit cards accomplished a highly prestigious No.1 net promoter score (NPS) result. NPS is a metric for assessing customer loyalty for a company's brand, products or services.

Underlying growth and continued investment to support clients, Citi’s branch in Hanoi recently moved to a new office at No. 40 Cat Linh street in Hanoi’s Dong Da district.

Citi Vietnam garnered multiple prestigious industry awards in 2018 reflecting ­results of their focus on being “the Best for Clients”. In 2018, Citi won Best Bank by The Asset Magazine, Best ­­Sub-custodian Bank, Best IPO (Vinhomes $1.35 billion IPO, Citi is global coordinator and bookrunner), Best M&A ­(Hanwha Asset Management $400 million strategic ­investment into Vingroup, Citi is financial adviser). It was also awarded Best Digital Bank by Asiamoney, and Best Digital Bank for Corporate/Institutional Banking by Global Finance.

By Phu Canh

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