Citi's ASEAN investment banking revenue jumps 35%

The bank handled nearly $20b in regional acquisitions.

Citigroup is on track for a record year in ASEAN investment banking activity following a sharp rise in artificial intelligence financing and mergers and acquisitions (M&A) across the region in 2026.

According to Dealogic data, year-to-date M&A volumes in ASEAN have risen by more than 30 per cent year-on-year to reach $140b (£110b).

Equity capital markets (ECM) and debt capital markets (DCM) issuance have experienced similar growth, combined exceeding $180b over the same period.

Citi’s investment banking revenue in the region has grown 35 per cent year-on-year.

The bank has participated in nearly $20b worth of regional M&A deals so far this year. It has also assisted ASEAN clients in raising close to $25b from global capital markets using international bond issuances, initial public offerings, convertible bonds, and follow-on equity offerings.

Across 2026, Citi has arranged approximately 30 transactions for ASEAN issuers, averaging nearly three deals per month.

Citi expects client activity to remain elevated in the final quarter of 2026, supported by a pipeline of debt and equity transactions. It also projects continued M&A activity across the technology, consumer, and healthcare sectors.

"ASEAN is one of Citi's key regions globally," said Matthew Nimtz, Citi's head of Investment Banking for ASEAN. "We are also seeing associated M&A as local corporates go global and increasingly lean into Citi's leading global network for key strategic financings and advisory work."