OREANDA-NEWS. December 15, 2014. Citi China is proud to retain the coveted "Best Bank in China" award at The Asset Triple A Country Awards 2014 for the eighth consecutive year.

Now into its second decade, the Triple A Country Awards are highly regarded by the industry throughout Asia Pacific as a yardstick for leadership in the financial industry. Commenting on the decision to grant Citi China the award, The Asset's editors noted, "Citi produced another year of dominant performance in North Asia. This, coupled with the sheer depth and breadth of its franchise, winning the best bank award in China, where it has been recognized with this accolade for the eighth time in a row."

Andrew Au, Chief Executive Officer of Citi China, said, "China is now at a critical stage where it is further deepening its financial reform, and the country has achieved profound progress in balancing between financial innovation and stability. Citi is deeply committed to China's development and will continue to invest in this vital market. We are privileged to participate in China's financial reform by leveraging our strengths, and to be able to maximize the opportunities presented by the reform to continue growing our franchise in China. "

In 2014, Citi maintained its leadership among foreign banks in China, with strong momentum observed across its businesses. As one of the first two foreign banks approved to set up an operation in the Shanghai Free Trade Zone, Citi has since launched a series of market-leading innovative solutions for RMB and foreign currency cross-border transactions. It was also the first bank to replicate its successful experience outside the Zone once the regulation permitted it. Its Commercial Bank celebrated its 10th anniversary milestone during the year; the business has become a clear industry leader in empowering China SMEs going abroad with tailor-made financial solutions. As the first global bank to issue sole-branded credit cards, this business has emerged as a strong growth engine and won popularity among target customers through various marketing and merchandise activities. With the recent launch of the Ultima credit card, Citi further enhanced its credit card offering, catering to the needs of different card holders.

Andrew Au noted, "Citi's biggest advantages lie in our global network, comprehensive product suite and our people. As the world evolves around globalization, urbanization and digitization, we will capitalize on our strengths and equip our businesses to serve our customers better."