Euromoney is one of the world's leading monthly financial magazines, focusing on banking industry.

The award covers corporate and investment banking, consumer banking and private banking. Citigroup also picked up the best equity house in Singapore and best debt house in India and Taiwan.

Commenting on the award, the editors of Euromoney said: "Citigroup is once again Asia's best bank, a position it has held for the past seven years. Citigroup's corporate and investment banking division reported record revenues and its consumer banking strength, awareness of its brand, its regional network and product offerings are second to none...Citigroup has also developed a significant private banking business in Asia Pacific serving more than half of the region's billionaires outside Japan."

"We are very pleased to receive this accolade, which ultimately is made possible only by the confidence of our clients. They place their faith in Citigroup day in, day out, so it is particularly heartening to have received this award for a record seven years," said Robert Morse, CEO of Corporate and Investment Banking, Asia Pacific.