Regional Awards for Excellence 2012: Asia
Citi retains its title as the best bank in Asia, beating off stiff competition from perennial rivals Standard Chartered and HSBC. Citi’s leading place comes thanks to the contribution of Asia to overall bank revenues and the bank’s diversified approach to building its regional franchise. Citi’s Asia business, under football-mad Scottish chief executive Stephen Bird, contributed an eye-catching 37% to global net group profits. Citi became the first international bank to receive approval to launch a sole-branded credit card in China, and the number of branches it runs in China has doubled over the past three years to 50.