Taiwan's best international bank 2018: Citi
Citi is the clear winner of the award as best international bank, a lender that, unlike some others, has never wavered in its commitment to the island’s economy.
Peers respect its lasting presence and its ability to reliably generate income, year after year.
Citi is the largest foreign bank in terms of headcount (its 4,000-plus employees operate across 54 branches, serving corporate and retail customers) and profits, generating earnings before tax in 2017 of $419 million. Its returns on equity and assets were 12.49% and 1.54% respectively last year, against industry averages of 9.06% and 0.63%.
Its role as a provider of capital and advice to Taiwan’s global firms is never in doubt. It helped blue-chip domestic clients raise more than $5 billion from local and international capital markets in the 12 months to the end of March 2018. It was a lead underwriter on several large capital markets transactions over the last year, including a $500 million currency-linked convertible bond by Hon Hai, and a $469 million follow-on offering by GlobalWafers.
Paulus Mok, chairman and country officer, also points to the bank’s strength in the formosa bond market, with Citi helping to complete seven deals in the year to the end of March, raising $1.6 billion.
And there is Citi’s strength in depth to consider. A full-service lender offering world-class corporate and retail banking solutions, it is a leading player in everything from wealth management and credit cards to digital banking.
Citi sets the bar high in Taiwan – and challenges others to compete. Currently, no one can.