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Malaysia's best international bank 2021: Citi

Citi

Usman Ahmed, Citi Malaysia.jpg
Usman Ahmed, Citi Malaysia

On paper, Citi Malaysia is a hard operation to beat. After 62 years in Kuala Lumpur, its 5,000-plus workforce offers innovative financial products and services to companies and institutions. Citi banks 80% of the companies with the largest market capitalization in Malaysia and 650 multinational corporations.

In the past year, the bank’s Malaysia team has brought these on-paper advantages to life, with Citi acting as the financial adviser and bank of choice for many of Malaysia’s most important deals. This was despite changes at the top: Usman Ahmed took over as Malaysia CEO in February 2021, succeeding Lee Lung Nien, who now heads Citi’s south Asia private banking business.

Citi was bookrunner for Genting New York's $525 million five-year bond, and a bookrunner for Petronas Canada’s debut $600 million, seven-year bond offer in March 2021. The US bank was also a bookrunner when oil company Petronas raised $3 billion with a dual tranche bond offering in April 2021.

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