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(SINGAPORE) Citi has been named 'Best Bank in Singapore' in the Euromoney Awards for Excellence 2009, while DBS topped the rankings for 'Best Debt House in Singapore'.
JP Morgan was named 'Best Equity House', while Credit Suisse won 'Best M&A House'.
Citi's strength in the retail space was singled out as its greatest achievement. 'Citi will never beat DBS for mortgages or straightforward loans,' said Euromoney. 'Nevertheless, it is in this retail space that Citi has made the greatest progress in recent years.'
This is the second time Citi has clinched the award in the past three years. DBS Bank won it in 2008.
Euromoney cited DBS for the 'strength and depth' of its franchise across bonds and syndicated lending.
Citi also continued a record-breaking 10-year winning streak to be named 'Best Bank in Asia' by Euromoney.
The latest award follows other recent wins, including last month's FinanceAsia award for 'Best Foreign Commercial Bank in Singapore' - for the 13th consecutive year - and Alpha South-east Asia's award for 'Best Foreign Bank in Singapore'.
Citi's country head Jonathan Larsen said the awards recognise the bank's century-long presence and growth in Singapore. 'Citi has a long history in Singapore, having continuously served clients here for 107 years,' he said. 'To be recognised as the best bank in Singapore is a strong affirmation of our commitment to our clients and franchise.'
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