OREANDA-NEWS. April 29, 2008. ZAO Citibank, a subsidiary of Citi, the leading global financial services company, was named Best Overseas Bank and Best Consumer Bank in Russia by Global Finance magazine in 2008. Citi Russia received best Consumer Bank in Russia award in 2006 and and Best Internet bank in Russia in 2007 from Global Finance magazine, reported the press-centre of Citibank.

The Global Finance rating includes banks, credit organizations and financial institutions, which have achieved the best results in market leadership, innovation, commitment to markets, evidence of a long-term winning strategy. The selection is based on input received from client and customers, analysts, corporate reports and industry export sources.

Throughout 2007, Citi Consumer bank has actively been working on the expansion of its product range. The Bank's customers were offered a large number of new financial products and services, including: a new co-branded credit card with KUDA.RU Travel Agency and the 1st in the market Cash Back credit card, same day loan with just 2 documents, instant utility bill payments and instant cash-in function to over 100 ATMs in Russia.

Citi also acted as a single lead arranger on VTB IPO that has become #2 world IPO in 2007 with a volume \\$7.98 billion. Citi acted as joint lead manager and joint bookrunner for Gazprom opening the Japanese markets for Russian issuers with the 1st ever Yen denominated bond from Russia & CIS. Citi is a pioneer in domestic RMBS deals in Russia with AHML's debut RMBS deal, the first ever multi-tranche RMBS deal under Russian law successfully closed in May 2007.

Currently, Citi Russia services over 0.5 million retail and over 1,500 corporate and institutional customers in more then 60 full-service branches in 7 cities of Russia and is actively expanding its distribution network in those and new cities of Russia. Citi in Russia was the 1st in Russian market to introduce grace period credit cards, structured investment products for mass affluent customers segment, cash-in ATMs and full service remote 24/7 banking channels CitiPhone and Citibank Online.

"The Russian banking sector continued to show resilience and the ability to innovate and adapt," says Global Finance publisher Joseph D Giarraputo. "That's recognized in our awards, for which there were strong competitors in every category. Russia's banks show every sign of being able to mature and meet coming challenges in financing the country's companies, consumers and savers".

Joel Kornreich, Consumer Business Manager, Citi Russia said: "We would like to thank our customers for the business that they give us and promise to provide only the best products and services. Also this award is a great testimony to the hard work and dedication of our staff towards building a truly great Consumer franchise in Russia".