Citi

Have HSBC and Citi found a way to cut costs and maintain revenues in Latin America? If so, local banks will not accept that quietly.

The bank has demonstrated exceptional on-the-ground commitment and understanding of its clients across all regions.

In a year that was difficult for much of Africa because of low commodity prices and especially the price of oil, which dragged down deal activity, one investment bank outshone its peers, managing to remain busy throughout the period. That bank was Citi, which wins this year’s best investment bank in Africa award.

Africa has been a difficult market to contend with over the last year, for both local and international banks operating across the continent. But with a widespread local and correspondent banking presence, Citi has taken this year’s award for Africa’s best bank in transaction services.

Euromoney names HSBC as the World’s Best Bank and Morgan Stanley as the World’s Best Investment Bank; UniCredit’s chief executive Jean Pierre Mustier wins Banker of the Year award.

Citi was knocked off the top spot in DCM in emerging Europe last year but remains a dominant force in CEE investment banking thanks to its unrivalled on-the-ground presence in the region. The US house has commercial banking operations in Russia, Hungary, Poland and Czech Republic, as well as offices in Turkey, Ukraine, Kazakhstan, Bulgaria and Slovakia. These are coordinated with a 22-strong team in Citi’s CEE banking hub in London. Citi is the winner of our award for the best bank for financing in the region.

In a year when the geopolitical environment and the outlook for interest rates took several dramatic turns, investment banks with strength in fixed income and deep local understanding were at an advantage in our award for best bank for markets.

Citi wins the award for best bank for markets in Latin America. The US bank maintains a very wide presence in the region and is a strong competitor across the board. Led by regional head of markets and securities services, Jaime Roblesgil, the bank has been focusing on building up its controls in recent years, in alignment with its global practices. Coordination is vital. Citi has 530 personnel operating in 21 countries in the region (as well as in Miami and New York).

The Argentine banking system is beginning to return to a semblance of normality, with signs such as positive interest rates. But the road back to international standards is a long one. After many years of economic dysfunction and highly prescriptive banking regulations (including mandatory lending to segments and floors and caps on interest rates), it will take a long time for an orthodox banking sector to appear.

Citi is perhaps the only global markets business remaining that shows that scale and breadth – both geographically and by product – can deliver good returns.

The narrative in the Albanian banking sector was unchanged last year as Banka Kombetare Tregtare (BKT) continued to assert its dominance over former market leader Raiffeisen Bank. By the end of December, the Turkish-owned lender accounted for more than a quarter of all deposits in the country and nearly 22% of overall loans, while its Austrian rival saw its share of both markets slip to below 20%.

Austria’s best bank notched its best result to date last year on the back of a recovery in its emerging Europe operations. But while the group’s international network tended to grab the headlines, the domestic business also put in another strong showing.

Citi aims to develop new banking apps with the speed of a Silicon Valley startup and deliver them across a vast incumbent bank.

Solving the challenge of the world’s unbanked is going to take investment, innovation, and an ability to bring together key players in payments, fintech and microfinance. No bank is quite as committed to that combination as Citi.

Charting the evolution of the FX industry.

Overall market share Overall banks only Overall non-bank liquidity providers only Spot/forward market share Swap market share Options market share Emerging market currencies market share

Euromoney magazine has released the results of its 39th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.

In corporate social responsibility, it is also rare to find financial institutions who manage to take their contributions beyond the occasional charitable donations, but rather put their financial acumen to good use in the community.

Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.

As in much of the Gulf, banking conditions in Bahrain were difficult over the last year. Despite these challenges, Ahli United Bank did well.

UBS Wealth Management voted best global private bank; new regional winners; private banks less bullish on revenues; non-bank competition a minor concern.

More than 2,000 private banks took part in the 2017 Euromoney private banking survey. See who’s up and who’s down globally, regionally and by country.

Last year was far from a vintage year for the big five US corporate and investment banking franchises, with almost no business lines seeing an overall increase in revenues in 2016, but the gains in fixed income sales and trading were enough to inch CIB division revenues up by 1.4% to $142 billion.

Citi's new mobile app is a first crucial step to re-invention. Head of consumer banking, Stephen Bird, tells Euromoney the bank may have only a couple of years to convince customers it is the high-quality, always-connected partner with the services they want.

The world seems to be turning away from globalization and towards protectionism. Yet despite this challenging environment for trade, the bankers who finance it remain surprisingly upbeat.

Internal analytics, not retail price war, behind the move; strong growth expectations prompt high bank valuations.

Brexit threatens eurozone, but region still crucial to global banks.

Citi seeks to commit to Mexico after Latin America withdrawal; HSBC injects capital but commitment questioned.

The topic of Brexit was never going to be far from the minds of delegates at the annual meetings of the International Monetary Fund and the Institute of International Finance, both being held this week in Washington, DC. And on Friday afternoon, delegates got a chance to hear the views of three vocal US bank chief executives — Jamie Dimon of JPMorgan, Mike Corbat of Citi and James Gorman of Morgan Stanley.