World’s Best Bank for Financing 2020: Citi
As the world’s financial markets went into crisis in 2020, Citi showed it had the capital strength and global reach to keep its clients in business
It is difficult to believe now that 2020 opened with all the talk at Davos focused on environmental, social and governance issues, sustainability and the transition to a low-carbon economy.
Just weeks later, the markets were thrown into disarray as Covid-19 spread and the US commercial paper market seized up, forcing corporates to draw down credit lines or ask for new facilities in breath-taking volumes.
This was one of those periods of market panic that fully tests banks’ ability to serve their clients.
“In the first seven months of this year we have had three markets,” Doug Adams, global co-head of equity capital markets at Citi tells Euromoney.