Citi Wins Top Trade Awards in Euromoney’s Trade Finance 2009 Awards for Excellence
Awards Include Best Trade and Supply Chain Bank, Best FI Trade Servicing Bank and Best DFI Finance Arranging Bank
Repeat Honors Won for Best Overall Trade Bank in Asia
New York - June 18, 2009 – Citi announces today that it has won top Trade Finance awards including Best Trade and Supply Chain Bank, Best FI Trade Servicing Bank and Best DFI (Development Finance Institution) Finance Arranging Bank as well as Best Overall Trade Bank in Asia.
This poll sponsored by Trade Finance magazine has become an industry standard by which financial institutions are evaluated for their level of expertise and service provided to their clients. Voting largely comes from corporate clients and those with specialized sector expertise. The ballots cast in this 2009 competition through online voting on Trade Finance’s Web site were estimated at 28,000 across all regions and categories.
"We are very pleased to be recognized by our clients in these Trade Finance Awards for Excellence. As we continually strive to deliver our unique abilities and tailor made solutions to our clients, we are especially gratified by these results," said John Ahearn, Global Head of Trade in Citi’s Global Transaction Services. "We are focused on helping our clients succeed and look forward to more opportunities to deliver the solutions needed to support their success."
Oliver O’Connell, Editor, Trade Finance magazine, says: "We congratulate Citi on its success in the Awards for Excellence 2009, including topping the polls in some of the most hotly contended categories. The spirit of these awards is to recognize achievement in these troubled times across the trade finance sector, and Citi is a consistent performer."
Global Recognition Driven By Expertise
Underscoring the strength of Citi’s long-standing industry relationships, integrated trade platform and strong global network, Citi was given the Best Trade and Supply Chain Bank and Best FI Trade Servicing Bank awards as well as receiving the inaugural award for Best DFI Finance Arranging Bank. Citi also received 'Highly Commended' honors for Best Export Finance Arranger, Best Short-Term Trade Finance Bank and Best Online Trade Finance Bank.
Regional Rankings Show Depth
The Best Overall Trade Bank in Asia award was given to Citi for the fifth year in a row. Asia also received country wins for India, Malaysia, Thailand, Vietnam and Hong Kong. 'Highly Commended' designations were given to Indonesia, Korea, Philippines, Taiwan, Sri Lanka and Singapore.
Citi was recognized for the first time in North America and Western Europe and within Latin America, for Brazil with 'Highly Commended' honors.
Global Transaction Services, a division of Citi’s Institutional Clients Group offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network spanning over 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the 1st quarter of 2009, it held on average $278 billion in liability balances under administration, and $10.3 trillion in assets under custody and trust.
For more information about Citi’s Global Transaction Services, specialized trade solutions and these awards, please visit: www.transactionservices.citi.com. For more information on Trade Finance magazine please visit: www.tradefinancemagazine.com.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citi.com.