Citi voted Best Bank for Letters of Credit by the readers of Intelligent Insurer

Citi claimed the title of Best Bank for Letters of Credit at Intelligent Insurer’s Global Awards event held in Monte Carlo on September 8, 2013.

Intelligent Insurer’s in-house research team spent six months interviewing industry executives and gathering data from thousands of online responses. In total 1,103 interviews or surveys were completed. The research team collected qualitative and quantitative data to establish which companies are regarded highly and what qualities have been critical to their long-term success.

Citi has a long history of providing letters of credit and has developed a strong relationship with the London Market in particular. The bank was commended highly throughout the survey.

“They work with the beneficiaries to be sure to meet time deadlines. They are also very efficient and easy to work with,” said one respondent when commenting on Citi.

Other positives were the bank’s exceptional level of experience and service received.

“We have always had a good experience with them,” said one participant. “Experience – it is worth a great deal to us,” said another.

The long-established bank, which has been around for more than 200 years, received a lot of support from various participants.

“Their good online systems make transactions smooth,” said one respondent. Another added: “We use them as we always get good service.”