New Delhi, Feb 19 (ANI/Business Wire India): FinanceAsia has awarded Citi best cash management bank and best cash solutions bank in Asia for 2007.
For the second consecutive year, Citi has won both the major cash management awards from the magazine in the same year.
This also marked the fourth year in a row and the tenth year out of eleven that Citi has been awarded the best cash management bank title in Asia by FinanceAsia.
Citi's clean sweep of FinanceAsia's 2007 cash management awards follows a record year for the business in Asia.
In 2007, Citi posted a surge in client acquisition and substantial growth in revenues and net income across its Asia cash management franchise.
Citi has also seen growth fuelled by an aggressive sales strategy and the introduction of numerous complex cash products and enhancements.
FinanceAsia praised Citi's leadership in all metrics of its cash management business.
The publication also highlighted Citi's strength in supporting Asia's largest Regional Treasury Centers and Shared Service Centers and groundbreaking mobile payment solutions as award-winning factors.
In awarding the best cash management solutions bank for Bristol-Myers Squibb, FinanceAsia praised Citi for providing the most comprehensive solution in 2007 covering its Shared Service Center and liquidity management requirements.
"We are pleased to have further strengthened our regional partnership with Citi and commend Citi for its excellence of cash management solutions, people and the implementation process," said Peter Quinton, Regional Treasurer of Bristol-Myers Squibb.
"In awarding Citi the best management bank and best cash management solutions bank in Asia for two years running, FinanceAsia has further strengthened our unrivalled leadership in this industry," said Ivo Distelbrink, Managing Director, Region Head of Cash and Trade Sales, Global Transaction Services, Asia Pacific.
"2007 was a record year for Citi's cash management business and our reputation in Asia is backed by our virtual clean sweep of all industry awards and client polls," Ivo added.
Nigel Dobson, Managing Director, Region Head of Cash Management, Global Transaction Services, Asia Pacific said, "As in previous years Citi has again solidified its cash management market leadership in Asia through our business growth and commitment to our clients. We are constantly improving the services we offer to clients and this award is testament to this fact."
In 2007, Citi was named by best cash management bank in Asia by The Asset and voted the best cash management bank in Asia in the Euromoney International Cash Management Poll, Asiamoney Cash Management Poll and Greenwich Associates International Cash Management in Asia Survey.