Kuala Lumpur, 5th – Citibank Malaysia (Citibank) has been honored with the prestigious title of “Best International Bank in Malaysia” at the highly esteemed 2023 FinanceAsia Awards. This recognition further solidifies Citibank’s position as a leading financial institution in the country. Notably, this is not the first time Citibank Malaysia has received this accolade, as they also secured the same award in 2018.
The FinanceAsia Awards are widely recognized as one of the most reputable and credible accolades in the Asian financial services industry. In a statement, Vikram Singh, CEO of Citi Malaysia, expressed his gratitude for the recognition and emphasized the significance of the award. Singh stated, “As Citibank continues to strengthen its foothold in the Malaysian market, this award serves as a testament to the robustness of our franchise, the caliber of our world-class talent, and our unwavering commitment to excellence.”
Singh further added, “We are honored to receive this award and extend our heartfelt thanks to our clients for their continued trust and support in Citibank.” Notably, Citibank is the only foreign bank in Malaysia to have been bestowed with a “AAA” rating by the esteemed rating agency RAM Rating Services for an impressive 23 consecutive years. This recognition highlights Citibank’s financial flexibility, sustained profitability, and the advantages offered by its global network.
With its Institutional Clients Group (ICG), Citibank remains uniquely positioned to provide responsible and objective advice, coupled with strong execution. Leveraging key global trends in liquidity, fintech, health, and sustainability, Citibank aims to lead its customers through transformative financial journeys.
Citibank has emerged as the financial advisor and preferred transaction bank for major corporations in Malaysia. Recent notable deals include Genting Malaysia’s issuance of a US$1 billion (approximately RM4.62 billion) 10-year bond and Petronas Malaysia’s issuance of a US$3 billion (approximately RM13.861 billion) bond.
Furthermore, Citigroup has effectively leveraged the advantages offered by its global subsidiary group franchise rights, establishing itself as the preferred banking partner for nearly all Fortune 500 multinational companies. Citibank also commands a dominant market share among multinational customers in Malaysia.
Presently, Citibank operates physical branches in 95 countries and regions, maintains local trading desks in 77 markets, and boasts a custody network spanning 63 markets. Demonstrating their commitment to adapting to evolving market dynamics, Citibank had announced strategic adjustments and transformations in its personal banking business on a global scale, including Asia, Europe, the Middle East, and Africa, including Malaysia. Additionally, Citibank announced its decision to withdraw from personal banking operations in a total of 14 markets, including Mexico.
Citibank Malaysia’s latest recognition as the “Best International Bank in Malaysia” underscores its unwavering pursuit of excellence, as well as its commitment to delivering exceptional financial services to its clients.