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Thailand's best international bank 2018: Citi


Tibor Pandi, Thailand Country Officer, Citi.jpeg
Tibor Pandi, Citi

In a banking landscape divided between large domestic banks, large international banks and hybrids, Citi Thailand, under country head Darren Buckley, stands out as something a bit different. A truly global bank, it also boasts a large retail presence, made up of three full service branches and 32 Citi network branches that provide a complete range of consumer banking, credit card and foreign exchange services to over one million customers. Then there is Citi’s formidable network of corporate clients, ranging from multinationals and financial institutions to public sector and local conglomerates.

“For today’s world, you need global solutions,” chief executive Tibor Pandi tells Asiamoney. “The ability to deliver these products to the local market is what makes Citi unique.”

With a presence in Thailand dating back more than 50 years, Citi clearly has plenty going for it. It is one of the most profitable foreign banks in the country. And in March, Citi acquired Tisco Bank’s unsecured personal loans portfolio and credit card business, projected to include $150 million in receivables. This should ensure further business growth in Thailand’s consumer market.

During the reporting period, Citi had several standout deals. In July 2017, the bank acted as joint global coordinator and joint bookrunner for PTTEP’s $500 million perpetual bond issue. This was well received by investors, with the final order book oversubscribed 2.5 times. In January, Citi also acted as joint bookrunner for Kasikornbank’s offering of $400 million of senior unsecured notes.

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