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Manila Bulletin devider Business devider Banking & Finance devider Citi PH to focus more on client service

Citi PH to focus more on client service

Published Sep 18, 2023 08:50 am

Citi Philippines has reiterated in a statement Monday, Sept. 18, that it will continue to improve its client services especially those that contribute to economic growth after raising over $10 billion in both corporate and sovereign bond issuances since 2020.

“Citi has been in the Philippines for over 120 years now and our focus and strategy hasn’t changed, which is to deliver excellent client service and responsibly provide financial services to enable growth and economic progress in the country,” said Paul Favila, Citi Philippines’ Chief Country Officer (CCO).

On Monday, the US bank said that for the fifth time, it has been recognized as the Best International Bank in the Philippines in the Asiamoney Best Bank Awards 2023.

The Asiamoney Best Bank Awards is an annual initiative that evaluates and recognizes banks in every Asian market that has excelled across a range of core banking activities in the past 12 months.

“Citi, the largest foreign bank in the country in terms of asset base, was recognized for connecting one of Asia’s fastest-growing economies to global hubs and local markets,” according to Asiamoney.

Citi Philippines is also the “only foreign firm on the government’s market maker list and acted as a joint lead manager and joint bookrunner for the Philippine government’s sale of $2.25 billion of sustainable global bonds in March 2022. Manila’s debut environmental, social and governance financing transaction was the first such sizable offering in Asia post the Covid-19 pandemic,” said Citi.

Citi said among its clients is the Asian Development Bank. It has acted as joint lead manager for the issuance of $3.5 billion of global benchmark bonds – “our fifth consecutive five-year US dollar bond issuance mandate from the ADB since October 2019,” said the bank.

Presently, the US bank said it services about 90 percent of the Philippines’ top 20 companies by listed market capitalization. It settles about $5 billion worth of transfers daily.

It has also raised over $10 billion for Philippines issuers from global capital markets for both sovereign and corporate issuers since 2020.

 

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