InsiderPH sat down with Citi Philippines chief Paul Favila to talk about a bank—and a banker—reinventing themselves. Citi has shed the consumer business that made it a household name, while Favila has spent decades building an identity distinct from his father, former Trade Secretary Peter Favila. Their stories have something in common: formidable legacies, followed by reinvention.
Citi and German development finance institution DEG have closed a more than P1.5-billion co-financing loan for OnePuhunan, unlocking fresh capital that could help thousands of Filipino women entrepreneurs grow their businesses and improve household incomes.
Citi is strengthening its digital foothold among large Philippine corporations, positioning technology and its global network as key tools for companies navigating increasingly complex cross-border operations.
Citi reaffirmed its commitment to the Philippines as it highlighted its business momentum, transformation progress, and client-focused strategy during a recent media roundtable led by Citi Philippines chief executive officer and banking head Paul Favila, together with head of corporate banking Manish Bajaj and head of markets Wilmer Bautista.
Despite the growth of digital finance, many businesses in the Philippines continue to rely on cash and checks for supplier payments, transactions, and daily operations, creating inefficiencies, cash flow delays, and higher operational risks.
Women are increasingly reshaping the banking industry, and Citigroup chair and CEO Jane Fraser is emerging as one of the sector's most prominent leaders, with Fortune naming her the most powerful woman in business for 2025.
Citi Philippines is strengthening its role at the center of the country’s cross-border financial flows, processing some $8 billion in daily dollar settlement transactions while deepening its relationships with large corporations, multinationals, and public sector institutions.
Citi outlined its strategy for delivering stronger, more sustainable returns during its 2026 Investor Day in New York, while highlighting the Philippines as a key market in its broader international growth strategy.
Citi has appointed veteran banker Bhavin Shukla as managing director and head of infrastructure investment banking for JANA and Asia South, signaling the bank’s intensified push to position itself as a strategic player in the region’s infrastructure boom.