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Philippines on track to post-pandemic recovery in 2022 — Citi

The Philippines is on its way to post-pandemic recovery next year as it projects deal activity to further pick up in 2022 with opportunistic and cost-effective financings to support growth, foreign bank Citi said Tuesday.

In a statement, Citi said both multinational and local companies are expected to experience tailwinds from spending across most industries further supporting their balance sheets.

Financial sponsors are also expected to capitalize on more local investment opportunities giving rise to more deal opportunities, the bank said.

With this, Citi Asia Pacific head of Banking, Capital Markets and Advisory, Jan Metzger, affirmed the bank’s commitment to the Philippine market.

“Citi will be celebrating 120 years in the country next year and the Philippines is one of our fastest-growing markets for Banking, Capital Markets and Advisory work with clients,” Metzger said.

“The country is home to many world-class companies, and we are committed to supporting their ambitions. There is a massive transformation happening across all industries and with a global network this has helped sharpen Citi’s dialogue with clients in the country as they increasingly want a global perspective,” he said.

For his part, Citi Philippines Corporate Bank head Fernando Fleury said that “Filipino corporates continue to expand in the region and globally, and Citi is very well positioned to support them from their treasury needs to strategic advisory.”

“We will continue to collaborate and problem solve, and work tirelessly on behalf of our corporate, financial institution, and public sector clients to deliver a range of strategic corporate finance and advisory solutions that meet their needs, no matter how complex,” Fleury said.

The Citi Philippines head added that infrastructure continues to be a big area of focus for many clients, especially in the digital space, which include the building of towers, data centers and fiber networks.

“Citi continues to champion digital transformation which is essential in today's environment as workplaces still leverage on remote work capabilities and more customers transact online,” Fleury said. — RSJ, GMA News