Citi named best bank in Asia

Citi has been named as the best bank in Asia by Corporate Treasurer Magazine, Asia's leading trade magazine covering corporate treasury and finance.

The best bank award was decided by a poll of over 1,200 corporate treasurers and CFOs across the Asia Pacific region arranged by the magazine and East and Partners, global specialist business banking market research and analysis firm, said a media release on Sunday.

The poll asked companies for their primary bank and their satisfaction with it across transaction services, including cash, trade and FX services, reports UNB.

The winner was then determined by the combined scores of market share and this satisfaction rating.

"We were delighted with the level of engagement in this ground breaking original research by Corporate Treasurer and East. For Citi, the award was a significant milestone marking its journey in Asia," said the editorial announcing the award.

"The award is important recognition from clients that Citi is delivering on our commitment to be their most trusted banking partner. We would like to thank all our clients for this trust they place in us. Underpinning this win is a team across the region and I would like to congratulate them," said Jan Metzger, Asia Pacific Head of Banking, Capital Markets Advisory.

In the first quarter of 2019, Citi Asia Pacific reported a 60 per cent rise in net income quarter on quarter across its Institutional Clients Group in Asia, which bank's Asia's leading corporates and global MNCs doing business in the region.

"The year is already off to a strong start. We're seeing an increased demand for banking services as more of our global clients invest in opportunities across the region and we continue to support Asia's local champions with their local, regional and global aspirations. Our regional network has never been stronger and this strength is helping us broaden and deepen banking relationships," added Metzger.