Asia Awards

Citibank's and HSBC's battle for Asian supremacy continues with Citibank taking from HSBC the best bank title it has held for three consecutive years. But this time around, Asia is a very different place and Citibank, too, is a very different animal.

This time last year, Citibank was still suffering from merger indigestion. Today, it is clear that Citibank has emerged a better, bigger and altogether more formidable Asian bank. With Salomon Smith Barney (SSB) successfully integrated, Citibank can rightly claim to be the most "regional" bank in Asia. With the largest and most diverse customer base, Citibank is the leader in more markets and more product areas than any other bank.

Competitors in Asia argue that the integration is an illusion, that "it's bluff to pass the group off as a single financial institution". Maybe. Citibank and SSB are certainly different brands but according to clients and many local competitors throughout the region the marriage works, regardless of whether the two entities sleep in separate beds.