Citibank best foreign bank

JAKARTA (JP): United States' Citibank has been named best foreign commercial bank in Indonesia by Finance Asia magazine in its country Achievement Awards.

The magazine described Citibank's penetration into the Indonesian market as impressive.

Citibank received nine other country Achievement Awards for best foreign commercial bank, in Australia, Hong Kong, Japan, New Zealand, the Philippines, Singapore, South Korea, Taiwan and Thailand.

The awards are judged on the responses to three polls by regional corporate treasurers and international debt and equity investors, plus a jury of financial journalists. (rid)