Citi saw impressive growth across its corporate banking services in Hong Kong in 2023. It saw year-on-year growth in its loan portfolio and funded several significant environmental, social and governance (ESG) financing transactions.
AfE 2024
The bank saw its treasury and trade solutions business grow by 23% during 2023, with even more impressive growth in its securities services business of 43%. Additionally, Citi increased its lending revenue by 17% in 2023 in the territory.
The firm concluded multiple ESG financing transactions, totalling billions of dollars. Half these deals involved Hong Kong's public sector, contributing to efforts to promote the city as a hub for green financing.
The bank also entered a multi-year renewable energy purchase agreement with CLP Power Hong Kong to become the first bank in Hong Kong to power its entire operations using renewable energy locally sourced from CLP Power.