| Euromoney Names Citi ‘Best Investment Bank in the UAE’ |
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| Leading Country’s Top Capital Market, Project Finance and M&A Transactions |
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| Dubai- Euromoney Magazine recently declared Citi 'Best Investment Bank in the UAE' in recognition of its track record in executing top local transactions in the country during the past twelve months. The award was part of Euromoney’s 2011 Awards for Excellence, considered to be among the most respected global awards for banking excellence. |
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| The global bank, with a long and embedded presence in the country dating back to 1964, came ahead of the competition thanks to a dedicated team of bankers on the ground and a portfolio of transactions that helped top local issuers to tap capital markets, while advising on critical project finance and M&A deals, and customizing innovative financial solutions. |
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| During the past 12-month period, Citi led some of the market's landmark transactions such as: |
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- Dubai Electricity and Water Authority (DEWA) USD 3 billion EMTN program.
- Ras Al Khaima's USD 400 million new 5-year Sukuk issue combined with a tender and exchange offer.
- JPY 19 billion ENBD Japanese Car Loan securitization, considered to be the first true-sale auto loan securitization in the Middle East.
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| Citi also advised on a number of landmark project financing and M&A transactions including: |
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- USD 800 million Salik toll-collection system financing in Dubai, expected to serve as a template for future infrastructure asset financings in the region.
- Emirates Aluminum (EMAL)’s US$737 million multi tranche Export Credit Agency financing.
- DP World's sale of 75% stake in DP World Australia to Citi Infrastructure Investors (CII).
- USD 650 million term financing for Etisalat’s Nigerian mobile subsidiary.
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| Commenting on the awards, Ahmet Bekce, Banking Head for the Middle East at Citi, said: ”We are deeply honored that Euromoney has recognized our commitment to the region and many years of value-added advice to our Middle East clients. The award reflects the trust that our clients place on our capabilities and partnerships, and we would like to take this opportunity to thank them.” |
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| Citi has been in the Arab World for nearly 50 years and views the region as critical to its global franchise. It currently offers full scale corporate and investment banking services in UAE, Bahrain, Qatar and Kuwait, Egypt, Lebanon, Jordan, Tunisia, Morocco and Algeria. |
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| Citi's capabilities include Investment Banking, Capital Markets, Equity Sales & Distribution businesses, Global Transactions Services, Equity Research, and Global Islamic Banking serving the MENA region. |
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Last year, Euromoney awarded Citi the “Best Equity House in the Middle East” in recognition of its leadership of the region's landmark capital markets transactions. |
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| Citi Named “Most Innovative” in FX and Islamic Finance |
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| London – Citi was named “Most Innovative Bank for Foreign Exchange” and “Most Innovative Islamic Investment Bank” in the annual Investment Banking Awards competition held by The Banker magazine. |
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The awards, presented at a dinner in London, recognise the key role innovation plays in helping the financial services industry evolve to meet new challenges. |
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Among the innovations The Banker noted within Citi’s FX business were the launch of CitiFX Wire, an FX newswire for Citi clients, and the creation of the Positive Alert Indicator, or PAIN, indices, which quantify market sentiment. |
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“The FX market is developing so rapidly that innovation has to be at the core of our business,” said Anil Prasad, Global Head of Foreign Exchange and Local Markets at Citi. “We look at innovation in two ways: the first is to try and improve things which are already out there and the second is to innovate to plug any gaps in our services, or spot gaps in those of others.” |
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In Islamic finance, The Banker pointed to Citi having led the first ever exchange, tender and consent solicitation ever executed in the Sukuk market. The Banker also cited that Citi led the first Islamic deal ever done in Turkey, a US$100 million issue for Kuveyt Turk Participation Bank. |
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“Citi remains focused on innovation and developing both the geographic as well as product aspects in the Islamic finance industry,” said Samad Sirohey, Chief Executive Officer of Citi Islamic Investment Bank and Head of Global Islamic Banking. “Citi has consistently played a pioneering and leading role in the development of Islamic Finance globally, having successfully arranged several billion dollars of Islamic transactions for Citi’s clients in the Middle East, Asia, Europe and Latin America.” |
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An independent panel of industry experts select the winners of The Banker’s Investment Banking Awards. This year’s panel consisted of institutional investors, CEOs, CFOs, investment bankers, finance ministers and central bank governors. |
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| Citi Named Winner in Global Finance Magazine’s Awards for
"World's Best Internet Bank 2011”
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| Bank Wins Top Position in Egypt, Bahrain, Kuwait, Lebanon,
Jordan, Tunisia, Algeria, Morocco and Pakistan |
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| Dubai- Citi today announced that it has won several awards in the first round of Global Finance magazine’s awards for the 2011 Best Internet Banks in the Middle East and Africa. |
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| Citi’s branches in Egypt, Kuwait, Lebanon, Jordan, Tunisia, Algeria, Morocco and Pakistan won Best Corporate/Institutional Internet Bank Awards in their respective markets, while Citibank Bahrain and Citibank Egypt won best Consumer Internet Bank Awards. |
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| Winners were chosen among entries evaluated by a world-class panel of judges at Infosys. Global Finance editors were responsible for the final selection of winners in the First Round. |
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| “Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and web site design and functionality,” according to Global Finance. (Kindly refer to Global Finance press release for a full list of awards) |
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| Atiq ur Rehman, Chief Executive Officer for the Middle East Division, said: “We are delighted to receive these awards from Global Finance. This is a strong recognition of Citi’s capabilities and the service we provide to our clients in the Region.” |
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| Global Finance is an international finance magazine with a circulation in over 163 countries. The magazine covers a wide spectrum of subjects including corporate financing, capital markets, monetary policies, banking operations and risk management. |
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| Citi has been at the forefront of developing Internet-based delivery capabilities for both retail customers (Citibank Online) and corporate clients (CitiDirect) in the Middle East, North Africa and Pakistan region, in addition to other B2B e-commerce initiatives that provide clients with full procurement solutions. |
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