Bangkok--4 Sep--Branded The Agency
Citi has scooped the Best Foreign Commercial Bank in Thailand accolade in the FinanceAsia 2015 Country Awards. The recognition was based on the bank's strong fundamental performance and profitability, particularly in the light of the difficult economic environment in Thailand during the past year.
The second half of 2014 was characterized by oil price volatility and a sharp weakening of the Thai Baht after the Bank of Thailand took measures to stimulate the economy. Amid such market instability, Citi helped clients to hedge their exposure to currencies, interest rates, and commodities. The bank is a key commodity hedging counterpart for many of Thailand's largest corporate and local institutions, enjoying strong cash-management relationships with local corporates and multinational companies. In addition, Citi Thailand continued to perform well in the credit card segment.
The bank operates three full-service branches and 31 Citi network branches across the country through its non-bank vehicle unit and employs approximately 2,500 staff locally.
In picture: Mr. Darren Buckley, Country Head and Citi Country Officer, Citi Thailand received FinanceAsia 2015 Country Awards