Best international bank: Citi
Citi is the only international bank in Honduras, delivering local operations in Tegucigalpa and San Pedro Sula in conjunction with the group’s wider global network across 180 countries and jurisdictions. In Honduras, Citi acts as the go-to bank for corporations with cross-border requirements, and a strategic partner to multinationals, leading local groups, financial institutions and the Honduran government.
The standout transaction for the bank in 2025 was its role as joint bookrunner on the Honduran government’s inaugural $700 million sustainable bond, which marked the sovereign’s return to the international dollar market for the first time since 2020. Citi’s role included execution, as well as helping present Honduras’s credit story and its green, social and sustainability bond framework to global investors. Demand was strong, with the deal 4.8 times oversubscribed, and more than 250 investors participating, including major ESG portfolios. For Citi, the transaction reinforced its leadership in sovereign DCM across Central America and the Caribbean.
Citi’s markets franchise was also particularly important in 2025, as Honduras experienced dollar scarcity linked to changes in the central bank’s foreign exchange auction mechanism. The markets team supported clients in navigating new regulations and changing market dynamics, developing solutions to help manage FX needs and Honduran lempira exposure. Assistance came via access to Citi Velocity, Citi FX Pulse, local FX auction support, FX spot trading, FX scheduling and risk management tools.
Citi was able to combine local market understanding with global investor connectivity, helping clients manage currency exposure even when liquidity in the spot market was constrained, maintaining business continuity through volatile conditions.
