New Delhi, Delhi, India
FinanceAsia has awarded Citi best cash management bank and best cash solutions bank in Asia for 2007. For the second consecutive year, Citi has won both the major cash management awards from the magazine in the same year. This also marked the fourth year in a row and the tenth year out of eleven that Citi has been awarded the best cash management bank title in Asia by FinanceAsia.
Citi's clean sweep of FinanceAsia's 2007 cash management awards follows a record year for the business in Asia. In 2007 Citi posted a surge in client acquisition and substantial growth in revenues and net income across its Asia cash management franchise. Citi has also seen growth fuelled by an aggressive sales strategy and the introduction of numerous complex cash products and enhancements.
FinanceAsia praised Citi's leadership in all metrics of its cash management business. The publication also highlighted Citi's strength in supporting Asia's largest Regional Treasury Centers and Shared Service Centers and groundbreaking mobile payment solutions as award-winning factors.
In awarding the best cash management solutions bank for Bristol-Myers Squibb, FinanceAsia praised Citi for providing the most comprehensive solution in 2007 covering its Shared Service Center and liquidity management requirements.
"We are pleased to have further strengthened our regional partnership with Citi and commend Citi for its excellence of cash management solutions, people and the implementation process," says Peter Quinton, Regional Treasurer of Bristol-Myers Squibb.
"In awarding Citi the best management bank and best cash management solutions bank in Asia for two years running, FinanceAsia has further strengthened our unrivalled leadership in this industry," said Ivo Distelbrink, Managing Director, Region Head of Cash and Trade Sales, Global Transaction Services, Asia Pacific. "2007 was a record year for Citi's cash management business and our reputation in Asia is backed by our virtual clean sweep of all industry awards and client polls."
Nigel Dobson, Managing Director, Region Head of Cash Management, Global Transaction Services, Asia Pacific said, "As in previous years Citi has again solidified its cash management market leadership in Asia through our business growth and commitment to our clients. We are constantly improving the services we offer to clients and this award is testament to this fact."
In 2007, Citi was named by best cash management bank in Asia by The Asset and voted the best cash management bank in Asia in the Euromoney International Cash Management Poll, Asiamoney Cash Management Poll and Greenwich Associates International Cash Management in Asia Survey.
About Citi
Citi markets and banking is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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. Major brand names under the trademark red arc include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
To view the Cash Award Results, please click on the link given below:
Cash Award Results
Source: Citi (Business Wire India)
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