Citi Vietnam recognised as Best Corporate Bank and Best Sustainable Bank for 2024 by FinanceAsia

In the category for Best Corporate Bank for large corporates and multinational corporations, Citi was acknowledged for its role as a banking partner to major local and multinational corporations in Vietnam, supporting them on opportunities in the country, ASEAN, North Asia, and on the diversification of their global supply chains.

Early this month, Citi closed a $300 million short-term loan for PetroVietnam Power Corporation (PV Power). The bank is the joint lead arranger for the financing for the development of the Nhon Trach 3 and 4 LNG power plant projects.

This will be the first and largest LNG power plant in Vietnam, and will play an important role in supporting national energy security and power transition in Vietnam.

In the category of Best Sustainable Bank, FinanceAsia recognised Citi’s efforts in social finance as well as opportunities arising from energy transition.

The bank’s dedicated teams provide advisory and capital-raising services for companies involved in energy transition, contributing to sustainable development.

Citi has played a crucial role in the carbon market as a sole structurer, lead manager and voluntary carbon credit (VCC) off-taker for the $50 million emissions reduction-linked bond issuance by the World Bank to provide water purifiers in schools in Vietnam.

With a well-established presence as a market leader in Vietnam, Citi has integrated environmental, social, and governance principles into the core of its business. The bank is fostering collaborative partnerships with the government to find innovative solutions for green and social financing that support the government’s national green growth strategy.

“As one of the largest international banks in Vietnam with a global network across 95 countries, Citi is celebrating its 30-year anniversary in Vietnam this year. Leveraging our global expertise and local insights, Citi remains committed to delivering banking solutions tailored to meet the diverse needs of our clients. We are dedicated to driving sustainable economic growth in Vietnam through digital innovation and the best financial solutions,” said Ramachandran A.S., Citi Vietnam’s country officer.

Central bank at the helm of shaping sustainable ambition With the requirement that socioeconomic development must go hand-in-hand with environmental protection and sustainable development, Vietnam is actively participating in international commitments on reducing greenhouse gas emissions and minimising the impact of climate change.

State Bank of Vietnam to keep policy rates steady in 2024: UOB With the pace of economic activities on the mend and inflation rates already easing below the target level, the State Bank of Vietnam (SBV) will maintain its refinancing rate at the current level of 4.5 per cent to support economic recovery, the United Overseas Bank (UOB) said in a report.

Citi recognised for landmark Vietnamese M&A deal Citi led a transformational merger and acquisition (M&A) deal in the healthcare sector last year, in which Quadria Capital Investment Management and founding shareholders of FV Group sold their 100 per cent stake in FV to Singapore-based Thomson Medical Group Limited.