Citibank Bahrain named winner in Global Finance Magazine's Awards for 'World's Best Internet Bank 2008'

Global Finance is an international finance magazine with a circulation in over 158 countries. The magazine covers a wide spectrum of subjects including corporate financing, capital markets, monetary policies, banking operations and risk management. Global winners will be announced at an awards ceremony in New York in November.

According to Global Finance, "Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from internet initiatives and web site design and functionality."

By using Citibank Online (CBOL), customers can perform a variety of regular banking transactions, such as checking balances or downloading account activity statements. Moreover, customers can transfer funds worldwide, pay utility bills, redeem reward points, order cheque books or subscribe to a number of value added services, round-the-clock and, anywhere in the world.

Furthermore, the site has proven to be a convenient, safe and secure platform to bank online while also ensuring that all product offerings are presented in a clear and concise manner. A link on the website provides the customers with adequate information on risks & benefits on internet banking. Special discounts and offers links designed in attractive windows, are placed on the home page, drawing customer's attention to the added value offers. A special section titled 'Use Credit Responsibly' educates customers on how to use credit to their advantage and avoid falling in a debt trap.

"For the fourth year in a row, Citibank Bahrain wins Global Finance's World's Best Consumer Bank Award, a clear recognition of our Internet banking platform in this market," said Ashish Bhugra, Citi Consumer Banking Head in Bahrain.

"We have particularly focused on ensuring safe and secure access through a link which informs and educate customers on how to create and use their own Citibank accounts safely. This initiative has not only enhanced traffic to Citibank Online but has also resulted in enhancing customer confidence in banking online with Citibank. Customers are now more likely to frequently use it."

"Coupled with this the fact, that our website is a virtual branch in itself, wherein the customer can navigate through the site to get any information on products and services offered by Citibank, apply for a product, transact on their account, pay utility bills, enroll for e-statements, update their personal information and much more. The website provides an effective tool for the customer to bank sitting at the convenience of their home/office," added Ashish.

Citi has been in the Middle East for nearly 50 years and currently offers consumer banking services in the UAE, Bahrain and Egypt. Citibank, the consumer banking arm of Citi, is expanding its operations in all three countries.