MANILA, Philippines - Citi was named the Best Bank in Asia, while Metropolitan Bank & Trust Company (Metrobank) was named the Best Bank in the Philippines by Euromoney magazine.
Citi was also given the title Best Cash Management Bank in Asia in the Euromoney Awards For Excellence 2012.
"Citi's leading place comes thanks to the contribution of Asia to overall bank revenues and the bank's diversified approach to building its business. Citi's Asia business contributed an eye catching 37% to global net group profits," Euromoney said. Citi retained the title Best Bank in Asia from 2011.
Citi Asia Pacific CEO Stephen Bird said, "This is great recognition of the talent and client focus of our team at Citi all across the region. We are delighted to receive these awards from Euromoney magazine, especially as it comes as we celebrate our 200th anniversary. We want to extend our sincere thanks to all our clients in Asia Pacific who place their trust in us and are the reason for our continued success."
Meanwhile, Metrobank was named the Best Bank in the Philippines for the third consecutive year in the Euromoney Awards for Excellence 2012.
"We are grateful to our customers whose invaluable trust in our company paved for this honor of being the Best Bank in the Philippines for the third consecutive year... We share this recognition with them as they are the driving force in our mission to strive for excellence and to aim to be the best in everything that we do," Metrobank President Fabian Dee, in a statement.
In 2011, Metrobank’s consolidated net income reached a record P11.0 billion, 31.9% higher than the previous year.