February 2, 2010, Shanghai Citigroup (“Citi has recently been the recipient of two major “Best Bankawards in China, having been named "Best Bank in China" by The Asset magazine, and "Foreign Bank of the Year" by WiseMoney Magazine, one of the most influential magazines in China focusing on finance and wealth management. Citi was also named one of China’s most popular foreign banks, in an online poll and judging process conducted by Hexun.com, the largest and most influential financial website in China.
Andrew Au, Citi China CEO and Chairman of Citibank (China) Co., Ltd. said, "We are thrilled to have received these awards, which reflect the significant progress our
company continues to make in China, as we grow our business and serve a diverse and expanding client base.
In 2009, Citi continued to pursue organic growth across the entire spectrum of consumer and institutional banking services. Citi is playing a major role in helping Chinese companies pursue their strategic goals and raise capital to support these needs. Among many other transactions, Citi was joint bookrunner for the US$2.7billion initial public offering (“IPO for Metallurgical Corporation of China Ltd., the biggest overseas IPO in Asia and the second largest IPO in the world at the time the deal was done. In 2009, Citi’s scope of business in China continued to expand, having been granted approval to trade short and medium term notes issued by local companies; to act as an interbank bond market maker; and to launch RMB cross-border trade settlement services.
Commenting on the decision to grant Citi China its award, the editors of The Asset noted, “Citi exhibited another strong performance in China on the back of its strong
platform that spans corporate and commercial banking, investment banking and consumer banking operations. It is a leading provider of financial services to major
domestic corporate clients, including state-owned enterprises and privately-owned companies. In investment banking, Citi completed a series of significant deals, including the US$133 million initial public offering of Real Gold Mining in February 2009, which reopened the IPO market in Hong Kong. The bank was the exclusive financial adviser to China National Petroleum Corporation, which together with KazMunaiGas, acquired Mangistau/Munaigas, the largest privately-owned oil and gas company in Kazakhstan, for US$3.3 billion. Citi Global Transaction Services is a leading transaction services provider in China, achieved through a strategy of sustained investment in product innovation and technology. This year, the bank is supporting more small and medium enterprises by providing them with finance against their receivables through CitiConnect.
Citi has a proven record of innovation in China, and in 2009 was the first bank in China to open a high-tech and environmental-friendly consumer outlet, which is helping to redefine the retail banking experience in China. Citi was also the first foreign bank to launch mobile banking, allowing customers to access online banking services using their mobile phone. Citi was the first international bank in China to introduce the lending company model to provide financial services to smaller towns and counties in China.
Citi is a leader in wealth management in China, and offers the widest range of Qualified Domestic Institutional Investor ("QDII") products. In 2009 Citi was the first bank in China to launch foreign currency fixed income products and first to launch subordinated bonds and floating rate bonds.
Citi continues to introduce state-of-the-art technology to China through its centers of excellence, Citicorp Software and Technology Services and Citi Data Processing
Services. Citi maintains investments in two Chinese banks, Shanghai Pudong Development Bank and Guangdong Development Bank.
“We have a clear strategy for long-term success in China, and we remain committed to continuing to provide superior financial services and products that are in the best interests of our customers,Mr. Au said.
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