Citibank Korea has been named the Best International Bank in Korea for 2023 by Asiamoney, a monthly financial magazine published in Hong Kong, the bank announced Friday.

Asiamoney explained that it selected Citibank Korea for the latest award, as it demonstrated significant improvements in performance across various financial metrics, citing tangible gains in total revenue and net income compared to the previous year.

The bank showed particularly strong growth in the corporate banking businesses, it added.

“Thanks to the devotion and passion of all our employees working together for our clients and the bank’s growth, we were able to win this award in times of change and challenge,” Citibank Korea CEO Yoo Myung-soon said.

“We will continue to deliver high-quality financial services to our corporate clients to support their sustainable growth, as they rapidly expand their presence in the global market.”

Citibank Korea, launched by Citigroup Inc. in 2004, has been reshaping its revenue model to improve benefits for its clients by strategically pursuing growth in diverse areas including foreign exchange trading and capital markets, corporate client treasury management and securities services, among others.