Citibank Named "Leading International Commercial Bank in Latin America" and "Leading International Bond Underwriter" by LatinFinance Magazine.NEW YORK--(BUSINESS WIRE)--February 12, 1996--Citibank has been named "Leading International Commercial Bank in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. " and "Leading International Bond Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. " in LatinFinance magazine. Noting Citibank's long-term history in the region, LatinFinance said the bank demonstrated the depth of its commitment in 1995 "as it set the pace among banks that kept the credit flowing to Latin America" by expanding its in-country lending to local corporate borrowers. The magazine also recognized Citibank as the top underwriter of Latin American bonds in the international capital markets. Dennis Martin, Executive Vice President and head of Citibank's Latin American commercial and investment banking activities in 1995, commented that in the wake of the Mexican crisis some international commercial and investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. were hesitant hes·i·tant adj. Inclined or tending to hesitate. hes  i·tant·ly adv. to do business even with long-standing customers in the region. Mr. Martin stated, "Our analysis showed that some of these countries could make it through if they were given a little bit of time and if they were able to rearrange re·ar·range tr.v. re·ar·ranged, re·ar·rang·ing, re·ar·rang·es To change the arrangement of. re their international finances. It was one of the best decisions we ever made." Citibank has a presence in 97 countries and territories worldwide, including 25 in Latin America and the Caribbean where its operations date back over 80 years. CONTACT: Citibank Mark Rodgers, (212) 559-1719 E-mail: mark.rodgers@citicorp.com |
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