Monday, 22 April 2024

Citibank Philippines was awarded The Best Wealth Management Bank (Mass Affluent Segment) for 2018 at The Asian Banker Philippines Country Awards 2018

5 min read

By The Asian Banker

  • Citibank Philippines provides end-to-end premium wealth management through its Citigold service
  • The bank offered a wide range of wealth management services by leveraging its strong global network
  • The bank has witnessed significant growth in its wealth management business in 2017

Mr. Foo Boon Ping ( Managing Editor of The Asian Banker ), Manoj Varma ( Consumer Banking Head and Country Business Manager of Citibank), Mr. Rene Aguirre (Head of Retail Banking at Citibank), Mr. David Gyori ( International Resource Director) and Mr. Richard Hartung ( International Resource Director)

Manila, October 5th 2018 —Citibank Philippines received The Best Wealth Management Bank(Mass Affluent Segment)awardfor the Philippines at The Asian Banker Philippines Country Awards 2018. The awards ceremony was held in conjunction with the prestigious The Future of Finance Philippines 2018, the annual gathering for decision makers in the financial services industry in the country, held at the Fairmont Makati, Manila on October 5th, 2018.

 

Citibank Philippines provides end-to-end premium wealth management through its Citigold service

 

Citibank Philippines offers its affluent segment customers the Citigold service to provide access to a wide range of mutual funds and wealth products. The bank offered end-to-end premium banking and wealth management solutions with the enhancement of its Citi Mobile, increasing the fund penetration through the digital channels. Customer engagement and loyalty increased, with a 15% increase in assets under management.

 

The bankoffered a wide range of wealth management services by leveraging its strong global network

 

Citibank introduced new products, the “Global View of Accounts” and “Global Transfers” to allow customers to instantly transfer funds from Citibank Philippines to an another Citibank account in its extensive network of over 25 other participating Citibank centres around the world. The transfer service is free of charge and provides competitive exchange rates with real-time credit feedback to customers. The Citigold service also offers travel benefits, with free round trips to Hong Kong or Japan.   

 

The bankhas witnessed significant growth in its wealth management business in 2017

 

Citibank saw a significant expansion of its wealth management business in the Philippines. The cross-sales of its wealth products doubled, attracting customers from credit cards to its other wealth products. Citibank achieved a 14% to 15% of growth in this business segment and focused more on digital channels to attract more customers. The return on investments more than doubled, with an increase of over 90% in investment product penetration, compared to the previous year.

 

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

 

For all Business Achievement Awards 2018 photos, please visit

https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156587646114804

 

For further information on the collaterals for winning banks, please contact:

Mr. Foo Boon Ping

Managing Editor

Tel: (+65) 6236 6526

bpfoo@theasianbanker.com

www.theasianbanker.com

 

 



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