CITIGROUP INC. London - Citi has been named World's Best Supply Chain Finance Bank 2022, at this year's Global Finance Trade Finance Awards. Citi was also awarded Best Trade Finance Bank in Asia Pacific, the Caribbean and Latin America.
"The winners of our awards are institutions that have best adapted to the pandemic landscape while helping their clients to continue their business operations," says Joseph D. Giarraputo, publisher and editorial director of Global Finance.
Chris Cox, Global Head of Trade and Working Capital Solutions, Treasury and Trade Solutions, Citi, commented: "These wins are a testimony to our team's hard work and commitment in supporting our clients' working capital and trade finance needs throughout these challenging times. The trade industry has been heavily impacted by the pandemic, with global disruptions to supply chains being felt around the world. Our teams have worked tirelessly to produce and introduce new digital and sustainable solutions as well providing both global and local support to clients throughout this time. We're thrilled to be recognized by these awards."
Recently, Citi added new functionality to its Supplier Finance portal, including an upgraded user-interface and simplified design. Citi also simplified its digital onboarding processes for suppliers.
Furthermore, Citi launched its Sustainable Supply Chain Financing solution to help clients' sustainability agenda and drive improvement of suppliers' social and environmental practices. With an assessment of suppliers by a third-party verifier, Citi's solution can provide suppliers with financial incentives for meeting certain sustainability criteria.
Operating in 96 countries, Citi manages 2,600+ buyers and 225,000 suppliers globally and transacts in 144 currencies. This global reach can be vital for clients as supply chains shift. Indeed, as supply chain finance programs grow and get more complex, Citi's ability to combine large, diversified structures while using its risk syndication and distribution capabilities and large supplier base can be differentiators.
One of the strengths of Citi's programs is balance sheet capacity and the ability to raise capital in the market on a sustainable, consistent basis despite economic, pandemic and supply chain challenges.
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Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Citigroup Inc. published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 21:07:08 UTC.
