Citi

US bank working with Singapore ride-hailer; aim to boost digital payment ambitions.

The UK's decision to leave the EU has left corporates scrambling to review many aspects of their business to ensure they are able to withstand heightened volatility. Injecting a greater level of optionality into their hedging strategies is one way to protect themselves from increased uncertainty, says Citi.

The fixed-income sales and trading business of the big US banks took a bath in the first quarter of this year, with revenues down by between 10% and 40%. But although not immune from market and geopolitical upheaval, the second quarter could not have looked more different.

Results index Five years ago, Citi’s global transaction services business launched an innovation lab in Singapore, in a business park out by Changi Airport. At first it felt like a gimmick, but has considered hundreds of ideas since and put 80 to prototype.

Results index The best bank for markets category is a natural battleground for HSBC and Citi in Asia, and both had plenty to recommend them: HSBC’s China dominance, and Citi’s pan-regional excellence. Either would have been worthy winners, but Citi impressed with a business of increasing efficiency, profitability and direction.

These are miserable times in Australian banking, which is suffering issues ranging from banking culture to credit quality as the commodity cycle ends. Commonwealth Bank has reputational issues around its CommInsure unit, while both ANZ and Westpac are under investigation for rate manipulation.

Results index Investment bankers in Latin America would love to have discovered some momentum over the last year, but economic activity slowed – almost to a stop in some parts of the region. Deal volumes and the banks’ fee income naturally suffered. Profitability was always challenging in a region notable for thin fees and capable and aggressive local banks, and this awards period saw some international banks break. Deutsche’s high-profile withdrawal followed others’ more stealthy exits.

Results index Last year’s winner of best equity house and best investment bank in Africa, Citi, this year returns to win our new award for financing. The bank, which has long had a strong presence in Africa, is one of the few able to offer a comprehensive range of products throughout most of the continent. Last year it certainly showed that it could deliver on that offering.

Results index The Latin American market is seeing a wave of change as banks withdraw or offload their businesses. In the transaction banking business, this is giving the remaining banks scope to reconsider their positions. Citi has decided to redouble its efforts in the region and the result is that Citi wins the award for the region’s best bank for transaction services.

Results index In investment banking in this region, Citi’s historic business and corporate ties to the area have long given it an advantage in capturing the lion’s share of central America’s sporadic international capital markets transactions. The bank is increasingly successful in leveraging its corporate clients that it retains through its cash management business.

It’s steady as she goes at Citi, as the universal bank maintains unrivalled cross-border market share and product complexity

This year marks the 25th anniversary of the Euromoney Awards for Excellence. They were the first of their kind in the global financial publishing industry. The nature of the global banking industry is constantly changing, and this year we made fundamental changes to the categories to reflect this.

Banking in Argentina has been challenging in recent years. Increasingly stringent regulation has required banks to lend to certain segments at capped interest rates, while high inflation has complicated other transactional business. The banking system has, by and large, coped well with the poor business environment, and now (in private) bankers are optimistic about the money to be made in the country – from mortgages and retail lending to corporate loans, securitizations and capital markets.

From retail and investment to emerging market banking, regulatory technology is redrawing the global financial map. Data is the new capital, ideas are the new risk.

Creating a platform that provides a coherent global service while keeping distinct regional variations has rewarded Citi with a year of further success in transaction banking.

Akbank wins best bank in central and eastern Europe; Citi retains best investment bank in the region; UniCredit is best financing house for 2016.

The world’s banks are doing more than pay lip service to corporate social responsibility. But they need to go further and make their commitment part of the fabric of each institution.

Austrian market leader Erste Bank posted another set of healthy results in 2015 but the standout story of the year, in terms of both growth and profitability, belonged to Bawag PSK. The private equity-owned bank saw its bottom-line result jump by 26% year-on-year to €418 million, giving a sector-beating return on equity of 16.2% on the back of higher core revenues, lower operating expenses and a dramatic reduction in risk costs.

Results index Investment banking volumes in CEE took another hit in the awards period as Russian sanctions, rising political risk in Poland and Turkey and high levels of local liquidity kept both issuers and investors on the sidelines. International bond sales fell by almost a third year on year to just $42.7 billion, according to Dealogic, while primary equity activity all but disappeared. With the exception of a trio of semi-private Russian deals, just three IPOs worth more than $50 million emerged from the whole region in the 12 months to March, while total ECM issuance came in at just $3 billion. M&A appeared to be a slightly brighter spot, with volumes rising by 16.1% to $98.9 billion. That increase, however, was accounted for by a couple of large Russian take-privates and a transfer of assets between two Kazakh state-owned entities.

More than any other bank, Citi is the one FIG clients turn to when they need global financing solutions.

Results index Citi likes to tell you that it is all over Latin America. It has exited some markets but is still where it really counts. It is this breadth of local operations that provides the edge for the bank’s market services and Citi wins three awards that are, to a greater or lesser degree, based on this geographical coverage.

When an investment bank sponsors a national award in investigative business journalism, there will occasionally be inevitable tension between the bank that rewards the journalism while also being on the receiving end of it.

Bahrain

Best bank in the Middle East Emirates NBD Best investment bank in the Middle East HSBC Best digital bank in the Middle East Emirates NBD Best bank for financing in the Middle East Citi Best bank for advisory in the Middle East Barclays Best bank for markets in the Middle East National Bank of Abu Dhabi Best bank for transaction services in the Middle East Abu Dhabi Commercial Bank Best bank for wealth management in the Middle East Audi Private Bank Best bank for CSR in the Middle East Arab African International Bank Best bank for SMEs Bank of Alexandria Best bank transformation Al Ahli Bank of Kuwait Outstanding contribution to financial services Hisham Ezz Al Arab . Country Awards for Excellence 2016: Middle East Awards for Excellence Middle East press release

Mohamed Mansour’s decision to build his own business to manage his family’s wealth and staff it with seasoned investment bankers was dismissed by some. But six years after its formation, the billionaire’s brainstorm – a hybrid of family office, private equity firm and investment bank – is being praised and even emulated.

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Citi retains top ranking while Deutsche plummets; JPMorgan and UBS rise; top five market share at all-time low; non-bank FX providers make an impact on rankings.

Results Index Methodology Overall:

Ex-Citi trader Carly McWilliams’ employment tribunal win will spur on other fired currency traders waiting for their day in court and encourage more women to bring unfair dismissal claims, say legal experts. The banks’ argument that a handful of rogue traders acting behind senior managers’ backs were to blame for the currency rigging scandal is contested.

Citi JV opts for Hong Kong for IPO, but should it have gone six months ago?