Citibank Hungary's Zero Fee Bank Account receives Best Bank Account Award for the fifth time in the MasterCard – Bank of the Year Competition

November 20, 2012

Citibank Hungary's Zero Fee Bank Account was voted #1 in the 2012 MasterCard – Bank of the Year competition for the fifth consecutive year, a recognition that no other financial institution received for a single product over the seven-year history of MasterCard's industry competition in Hungary. In addition to this win, Peter Somogyi, Wealth Management Head of Citibank Hungary, was named in the Young Banker of the Year Award category.

Batara Sianturi, Citi Country Officer for Hungary said, "We are once again honored to receive this top award for the fifth consecutive year in 2012, in the year that marks Citi's 200th anniversary of serving our clients around the globe. It demonstrates the success of our ongoing strategy to develop innovative products and services that bring unique values and benefits to our customers in Hungary. We are committed to continuing to offer competitive and innovative products that put our unmatched global expertise and local knowledge to work for our customers in Hungary."

Jon Wiggins, Consumer Business Manager for Hungary also remarked, "I would like to thank our teams for serving our customers with passion and dedication and helping them navigate the challenging market environment. We are very proud of Peter Somogyi, our young Consumer Wealth Management Head for being recognized as one of the Young Bankers of the Year. He received this accolade for his achievements in developing and introducing a number of innovative products and services such as the 0HUF Bank Account and the Premium Deposits that changed the landscape of the consumer market in Hungary, and for contributing to growing our business."

About the MasterCard – Bank of the Year Competition

The MasterCard – Bank of the Year Competition has been running in Hungary since 2006, with MasterCard Worldwide serving as its primary sponsor. The professional category awards are decided by the anonymous voting of an independent 100-member professional jury made up of business leaders, economic journalists and university teachers. The Young Banker of the Year Awards are decided by the jury based on nominations by banks.