Citibank India Wins the Dun & Bradstreet Banking Award 2011 for SME Financing

Citibank India today announced that it has been awarded the ‘Best SME Bank’ for 2011, under the Foreign Bank category by Dun & Bradstreet - Polaris Software Banking Award. The Awards seek to recognize the growth and resilience of the Indian banking industry. The winner was determined amongst 62 scheduled commercial banks (SCBs) with a total income of Rs.1000 million and above.

Rajat Madhok, Head of Commercial Bank, Citi India said, “This recognition stands testimony to the faith clients have in our differentiated offerings. We remain committed to providing innovative solutions on our worldwide platform that will serve the global ambitions of our clients in this critical and growing market segment of the Indian economy.”

Mr. Mohan Ramaswamy, COO, Dun & Bradstreet India said, “I congratulate the team at Citibank India for winning the award for Best Foreign Bank in SME Financing by exhibiting a robust performance in the SME segment, thus acting as a catalyst for the development of the small and medium enterprises of the country.”

Citibank set up its Commercial Bank division in 1998 as a dedicated strategic Business Unit focused on the emerging local Corporates. In addition to expert advice and services the unit offers its clients a complete range of corporate banking products and services which includes Operating Accounts, Cash Management, Trade Finance, Treasury and Risk Management, CitiDirect® Online Banking and Investment Management & Advisory. Strategic Products include Advice on Acquisitions, Mergers and Divestures, Capital Markets, Structured Trade Finance. Citibank was the first to introduce electronic banking channels to Emerging Corporates in India which include Online and Phone Banking, email statements as well as event-based email and mobile alerts. Citi Commercial Bank is currently a dominant player across several industry verticals like textiles, auto ancillary, chemicals, pharma, information technology, ITES-BPO and capital goods.