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Citi Philippines named Best Foreign Bank

M E T R O F I L E

09/16/2009

Citi Philippines was recently awarded Best Foreign Bank by Alpha South East Asia, the institutional investment magazine that focuses principally on Southeast Asia. Citi was recognized for being firmly entrenched as the largest foreign commercial bank in the Philippines in terms of customers, assets, revenues, profitability, loans, deposits and domestic branch presence. According to the editors of the magazine, Citi Philippines has built the strongest combined capabilities among foreign banks operating in the country. Country head and Citi country officer for the Philippines Sanjiv Vohra expressed his appreciation to the magazine for honouring Citi with its inaugural award for Best Foreign Bank in the Philippines. "This award celebrates our 107 years of banking leadership in the Philippines. We have had the privilege of serving governments, institutions and individuals in the country over the last century, and we are looking forward to doing so for another 100 years. Our legacy of success is a testament to our clients’ loyal support and to the hard work of the local team." The award was decided by the editorial team of Alpha Southeast Asia on the basis of several criteria, including profitability, shareholder returns, independent league table rankings, market share, transaction volume, size and uniqueness of notable deals undertaken, the extent of banking innovation, case studies and client testimonials. According to Alpha Southeast Asia publisher Siddiq Bazarwala: "Instead of polling, we internally evaluated and reviewed the financial and non-financial credentials of financial institutions throughout the region, making this the most conclusive award in banking and finance in Southeast Asia." Citi Philippines has been the recipient of a number of awards recently including Best Bank from The Asset, Best Foreign Commercial Bank from Finance Asia, Best Foreign Cash Management Bank (voted by Medium and Large Corporates, Financial Institutions) from Asiamoney, and Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank from Global Finance.