Citibank Korea was awarded Best Foreign Commercial Bank from Hong Kong-based magazine Finance Asia last month. This is the fifth consecutive year Citibank has won this award.

Finance Asia is one of the Asia’s leading monthly financial magazines. It announces the best banks in different Asian countries every year through Country Awards.

The magazine commented that Citi Korea introduced an innovative service enhancing foreign exchange cash management capability to clear payment on the same day and the convenience of smart banking branches and its 11,000 ATMs.

“And it has a strong capital base and plenty of liquidity; at the end of 2011, it had a capital adequacy ratio of 16.36 pecent, with a Tier-1 ration of 13.39 pecent, the highest among commercial banks,” it said.

“We are very proud to receive this prestigious accolade, which would not have been possible without the support and confidence of our clients. It is also welcome recognition for our employees, who continue to show passion, dedication and desire to innovate; attributes that also helped us win the award,” said Ha Yung-ku, CEO of Citibank Korea through statement.

Launched here in 1967, Citibank Korea currently has 217 branches in Korea.

(claire@heraldcorp.com)