Citi has been recognized by Euromoney with the magazine’s Excellence in Leadership award in the Asia-Pacific region for its support of colleagues, clients and communities during the ongoing COVID-19 pandemic, as well as the Best Investment Bank award in the Asia-Pacific region.
In addition, Citibank Taiwan Ltd (台灣花旗) was named the Best International Bank in Taiwan by Asiamoney and FinanceAsia.
“Citi is a big financial institution present in virtually every large Asian economy. You don’t get to be this size and to last this long without an innate ability to react smartly and nimbly to systemic threats. Under chief executive Peter Babej, Citi Asia Pacific was quick to react to the coronavirus crisis,” Euromoney said in an editorial accompanying the recognition.
Photo courtesy of Citibank Taiwan Ltd
For retail and small business customers across the region, Citi provided a range of assistance, including fee waivers on loan extensions and reduced financing rates.
For Asian institutional clients, the firm delivered effective and innovative capital solutions across its global platform, raising more than US$10 billion.
These transactions included the bank’s first virtual initial public offering for NASDAQ-listed Huize Holding Ltd (慧擇保險經紀), in which all roadshows were held via video and audio.
In addition, Citi provided equally innovative support to its trade finance and cash management clients, utilizing its digital infrastructure to support remote onboarding, payments and collections, the magazine said.
“This has been a tremendous team effort, and I want to again thank all my Citi colleagues for their focus, hard work and resilience. As the situation evolves, we continue to monitor developments across the region and remain fully committed to supporting our clients and communities,” Babej said.
Meanwhile, Citi was also named Best International Bank in Taiwan by Asiamoney.
“Citi stands apart from other foreign banks operating in Taiwan. It combines a leading retail bank with a world-class corporate and investment banking franchise. It has also built deep relationships with its clients in the region… Under the watch of its Taiwan chairman Paulus Mok (莫兆鴻), it had an impressive year in 2019,” an Asiamoney editorial said late last month when the results were announced.
It was the fourth consecutive year that Citibank Taiwan has won the honor since the publication relaunched its country awards in 2017.
Aside from that honor, Citi also won the Best International Bank in Taiwan award from FinanceAsia magazine in May, marking the 24th consecutive year it has won the award.
Mok thanked all the staff in Taiwan for their dedication and contributions.
“The year of 2019 was not easy. However, Citi Taiwan reported earnings before interest and taxes of NT$14.672 billion [US$497.2 million at the current exchange rate], jumping 13 percent from 2018. It was the best year since 2013,” Mok said.
“Affected by the COVID-19 situation, the world is faced with a much severer challenge in 2020. Citi takes proactive epidemic prevention measures and has well-established business continuity plans for the firm. By leveraging Citi’s global resources and digital platform, we continue to provide comprehensive financial solutions to serve our customers,” he said.
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