Citi was awarded Best Bank for Business and Best Bank for Sustainable Development in FinanceAsia’s 2024 awards categories for international banks operating in Vietnam.
In the category of Best Bank for large businesses and multinational companies, Citi was honored as an important financial partner of large domestic corporations and multinational corporations operating in Vietnam. Nam, supporting customers to seize opportunities in domestic, ASEAN, and Asian markets and diversify their global supply chains.
Recently, Citi completed a short-term loan deal of 300 million USD from PetroVietnam Power Corporation (PV Power). The bank is the partner who co-arranges capital to finance the development of PV Power’s Nhon Trach 3 & 4 LNG power plant projects. This is the first and largest LNG power plant in Vietnam, playing an important role in ensuring national energy security and the energy transition process in Vietnam.
FinanceAsia also recognized Citi’s efforts to capitalize on opportunities arising from the energy transition in the Best Bank for Sustainability category. The bank’s specialized team provides consulting and capital mobilization services for companies participating in the energy transition process, contributing to Vietnam’s sustainable development.
Citi has played an important role in developing the carbon credit market as the sole capital structure bank, lead manager and buyer of voluntary carbon credits (VCC) for the linked bond issuance emission reduction worth 50 million USD issued by the World Bank to provide water filters to schools in Vietnam.
As a leading international bank in Vietnam, Citi has integrated Environmental – Social – Governance (ESG) principles into its core business activities. The Bank hopes to promote collaborative partnerships with the Vietnamese government to seek innovative solutions in green finance, such as mixed finance models that can support the National Growth Strategy. Government Green.
“As one of the largest international banks with a global network spanning 95 markets, Citi will celebrate its 30th anniversary in Vietnam this year. Leveraging global expertise and local insights, Citi is committed to providing leading banking solutions designed to meet diverse customer needs. Citi is dedicated to supporting businesses and promoting sustainable economic growth in Vietnam through innovation in e-banking and providing the best financial solutions,” Mr. Ramachandran AS, General Director Citi Vietnam said.
