Citi Crowned As Best International Bank In Malaysia In FinanceAsia Awards 2022/2023

Alex Cheong Pui Yin

13th June 2023 - 2 min read

Citi Malaysia has been named the Best International Bank in Malaysia at the FinanceAsia Awards 2022/2023 – an award that it had last won back in 2018.

“We are honoured to receive this award, which is a testament to the strength of our franchise, the depth of our world-class talent, and commitment to standards of excellence as we entrench our market leadership in Malaysia. We would like to thank our clients for their continued trust and support with Citi,” said the chief executive officer of Citi Malaysia, Vikram Singh in accepting the win.

Citi also said that it has worked to ensure that its institutional clients are positioned to tap into important global trends in the banking industry. This is in addition to providing responsible advice and services that enable their clients to soar to greater heights. Among some of its key local clients include Petronas and Genting – arguably some of Malaysia’s largest corporates.

In its statement, Citi also highlighted that it has a dominant market share among multinational clients in Malaysia as well, achieved by leveraging on its Global Subsidiaries Group franchise. For context, Citi’s Global Subsidiaries Group is known as the preferred banking partner for a majority of leading Fortune 500 multinational companies.

While Citi has reported that it is doing well in the institutional banking segment in Malaysia, the bank is currently in the process of exiting the local retail banking scene (along with 12 other markets across Asia and Europe). It has sold its consumer banking business in Malaysia (as well as Indonesia, Thailand, and Vietnam) to UOB in 2022, and is currently migrating its products and assets to UOB’s ecosystem – a process that is expected to be completed by September this year.

Meanwhile, Hong Kong-based publication FinanceAsia was founded in 1996 and has been reporting on Asia’s financial and capital markets since. Aside from naming Citi as the Best International Bank in Malaysia in its latest FinanceAsia Awards, it also listed Public Bank as the Best Domestic Bank in Malaysia and Maybank Investment Bank as the Best Investment Bank in Malaysia – among a long list of other titles that you can find here.

(Sources: FinanceAsia, The Star)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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