Citibank Taiwan Ltd (台灣花旗) has been named the “Best International Bank” and the “Best International Investment Bank in Taiwan” for this year by FinanceAsia and Asiamoney magazines.
This is the third consecutive year Citi has won awards from the two renowned magazines.
Citi received the “Best International Bank” and “Best International Investment Bank in Taiwan” awards from FinanceAsia at an awards ceremony in Hong Kong on June 27.
Photo courtesy of Citibank Taiwan Ltd
In the news release accompanying the award, the magazine’s editors said: “While Citi remained the most profitable foreign bank with a pre-tax profit of US$432 million last year, it continued to invest in technology and is arguably one of the most digitalized banks in Taiwan.”
It is the 23rd consecutive time FinanceAsia has named Citi the “Best International Bank,” truly exemplifying Citi’s status as the industry’s leading brand.
“In investment banking, Citi was the unanimous pick for the award among FinanceAsia’s judges after the bank advised on six of the 14 M&A transactions completed during the review period. Its closest rival advised on just three,” the news release said.
Asiamoney also recognizes banks that have made the most progress in the region from April last year to March, with Citi picking up the “Best International Bank” and “Best Corporate and Investment Bank” awards for the Taiwan market.
“With their close links to the US, Taiwanese have long regarded Citi as their go-to international bank. The 49-branch Citi franchise on the island has always been one of Citi’s brighter lights in the region — and calendar 2018 simply confirmed that,” Asiamoney said.
“In corporate and investment banking, it’s a similar story, Citi Taiwan being corporate Taiwan’s go-to bank for dealmaking. In the mergers and acquisitions sector, Citi’s corporate team advised on the largest and highest-profile deals in Taiwan, ending the year top of the league table with six deals completed, worth around US$10 billion in total,” the magazine added.
Citibank Taiwan chairman Paulus Mok (莫兆鴻) expressed his appreciation for the recognition from FinanceAsia and Asiamoney
“The financial environment in 2018 was very competitive in Taiwan. It is not easy for Citi to have sustained the leading position and been recognized by independent institutions. The awards belong to all Citi Taiwan staff. Citi has developed and served the market in Taiwan for over 50 years. We are committed to enabling progress, and continuing to introduce innovative financial services and products, with the aim to be the best bank in Taiwan,” Mok said.
With solid operating performances, Citi Taiwan has been recognized by various awards at home and abroad, including the “Best Bank” honor from The Asset Triple A for 16 consecutive years, the “Best Bank” award from Euromoney, and, for a 12th consecutive year, the “Trusted Brand 2019: Credit Card Issuing Bank - Gold Award” from Reader’s Digest.
Citi has also won the “Best Corporate Citizen Award” from the Chinese-language CommonWealth Magazine, and the “Best Corporate Social Responsibility Award” from Excellence Magazine.
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
STAYING AHEAD: Fitch said that TSMC remains technologically ahead of others, but Samsung is building a new chip fab, while China is investing in its domestic industry As escalating US-China tensions and COVID-19-related production disruptions force US technology supply chains to transform, Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) US$12 billion chip fabrication plant in Arizona would be key to spurring greater US production of core semiconductor components, Fitch Ratings said. “We view the US-TSMC alliance as a first step in building a more autonomous US technology supply chain, given high barriers to entry, specifically related to the significant capital and design capability required for leading-edge semiconductor manufacturing,” Fitch said in a statement on Tuesday. “By working with TSMC, US chipmakers will not face the financial burden of incremental investment
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to