Citi India investment banking revenue nearly doubles to $52 million
In short
Citi’s India investment banking revenue nearly doubled to $52 million, according to the report. The bank also helped Indian companies raise nearly $16 billion and advised on $36 billion of mergers and acquisitions.
This matters because Citi is being described as India’s top-ranked investment bank. The report does not say the exact time period for the figures or whether the trend will continue.
What the reporting says
Citi’s India investment banking revenue nearly doubled to $52 million, making it the country’s top-ranked investment bank. The lender helped Indian companies raise nearly $16 billion and advised on $36 billion of M&A, with activity driven by overseas expansion and the technology sector. The reporting does not say whether the figures are annual, quarterly or for another period.
Why it matters
Citi’s India investment banking business is reported to have nearly doubled revenue to $52 million, with large deal activity helping push it to the top rank in the country. The bank’s role in nearly $16 billion of fund-raising and $36 billion of M&A suggests stronger capital-markets and advisory demand. The reporting does not state the time period or whether the growth is expected to persist.