Citi named Best Bank for Markets in Asia by Euromoney magazine

Wednesday, 3 August 2016 00:01 -     - {{hitsCtrl.values.hits}}

Citi yesterday announced that it has been named Best Bank for Markets in Asia by Euromoney magazine in the 25th edition of their Awards for Excellence program.

In announcing the win, Euromoney editors said: “Citi impressed with a business of increasing efficiency, profitability and direction. Where FX once dominated this business, Citi can now boast honed and efficient strength in equities, flow trading, structured credit, rates, FX, commodities and securities business. It is a powerful business that is still improving.”

They noted Citi’s business diversity and pan-regional excellence, with revenues evenly spread across the region, along with a balance product suite, renewed flow through Citi’s Stock Connect pipeline, and an efficiency ratio of 50%. Another highlight was the increasing adoption of automation in the business, now at one-third of volumes compared with one-eighth two years ago.

“We are pleased to have won this accolade. It speaks to our efforts to transform the business to broaden our product suite and improve accessibility. We will build on this as we look to fully deliver the Citi platform to clients even in the midst of a challenging external environment,” said Patrick Dewilde, Asia Pacific Head of Markets and Securities Services.

Saneth Gamage – Markets Head, Sri Lanka said, “We are pleased to receive this outstanding recognition by a top publication in our industry and wish to thank our clients for their continued confidence and unwavering support. This award shows that we’re well on our way and what our firm can do at its best”.

Euromoney magazine was created in 1969 to cover the re-emergence of the international cross-border capital markets. Their benchmark surveys and awards show how participants are rated by the industry, and help readers find the institutions best placed to handle their business. Their award decisions are made by a committee of senior journalists, chaired by Euromoney’s editor, following the receipt of detailed submissions from market participants and extensive year-round research into the banking and capital markets in the region by their editors, journalists and research team.