Citi (NYSE: C) was recognized with a series of global and regional awards by Euromoney, the preeminent global financial markets magazine, at its annual Awards for Excellence dinner in London.
On Citi’s digital success, Euromoney wrote: "The journey to becoming a truly digital bank is as much about transforming culture as it is about transforming technology. That’s exactly what Citi has done. Big investments in people and technology in its consumer banking business have yielded some dramatic increases in mobile use in the Americas and in Asia, driving both revenue and cost benefits. And digital is strongly embedded in its wholesale bank offering, especially in areas such as transaction services and its markets business."
"There are some remarkably successful initiatives taking place across the world in financial inclusion,” Euromoney said. “But solving the challenge of the world’s unbanked will take investment, innovation and an ability to bring together key players in payments, fintech and microfinance. Right now, no bank is more committed to that combination than Citi."
"Citi is perhaps the only global markets business remaining that shows that scale and breadth - both geographically and by product - can deliver good returns,” Euromoney said, commenting on the Best Bank for Markets award. “While other banks cannot compete with its network, the challenge for Citi has been to show it can make its network deliver. And it has certainly done so across fixed income, currencies and commodities, while building an increasingly competitive global business in equities."
Euromoney also praised “the breadth of Citi's Treasury and Trade Solutions business” noting that Citi was a “strong contender for the transaction services award in almost every region.” “But it’s not a one-size-fits-all approach,” Euromoney added. “Each regional offering is cleverly tailored to the needs of clients in that region. And across it all, Citi is leading the way in providing digital solutions to challenges in key areas such as payments, cash management and trade."
Citi also received a number of regional awards including:
- • Best Bank for Markets in Latin America and Western Europe
- • Best Bank for Financing in Central and Eastern Europe
- • Best Bank for Transaction Services in Africa
- • Best Investment Bank in Argentina, Africa, Finland, Ireland, Turkey and Greece
Michael Corbat, Citi CEO, said: "We are honored to receive this recognition from Euromoney. It speaks to the successful execution of our strategy as we continue to build on areas of Citi’s strength where our experience and global footprint differentiate us, as they do in Treasury and Transaction Services and Markets, while also investing in our digital and mobile capabilities. It also recognizes our commitment to increasing financial inclusion, especially as it relates to helping young people find their place in the global economy. We are proud of our record serving both our clients and our communities and look forward to continuing to do both.”
The Euromoney Awards for Excellence are in their 26th year and are recognized to be among the most prestigious in the financial services industry.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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, transaction services, and wealth management.
For almost 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world.
Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.