'Phl a great market for Citi'

Amid strong growth story, favorable market conditions

- KEISHA TA-ASAN

Global banking giant Citi has found a lucrative market in the Philippines and expressed continued confidence in the country’s growth prospects, citing strong local talent, global business interest and an optimistic economic outlook.

Jan Metzger, Citi’s head of investment banking in Asia-Pacific, said the bank’s success is anchored on the country’s strong economic fundamentals and favorable market conditions.

“The Philippines is a market where our franchise is doing very well, driven by a strong underlying growth story and great market dynamics locally,” Metzger told The STAR.

Citi’s ability to cater to both domestic firms and multinational corporations has been a key driver of its success in the region.

“We’re honored to be able to serve both domestic companies as well as international companies coming into the Philippines,” he said. “We’ve done that for a very, very long time and continue to do so.”

Citi has been in the Philippines for over 122 years or since July 1902. It has grown to be the largest foreign bank in the country in terms of assets with a business that spans corporate banking, markets as well as transaction banking and securities services. Citi has also expanded its presence

Citi Solutions Center (CSC), with an employee population of nearly 7,000. The centers help service Citi businesses all over the world.

“The Philippines remains crucial to Citi, both in terms of serving Filipino clients and supporting the business outside the country,” Metzger said.