Citi reports 35% rise in ASEAN investment banking revenue amid booming deal flow

Citi announced that its investment-banking revenue for the ASEAN market has grown 35% compared with the previous year, reflecting a pickup in mergers and acquisitions and financing linked to artificial intelligence. Dealogic data show regional M&A volume surpassing $140 billion, while equity and debt capital-market issuances have each exceeded $180 billion in value. So far in 2026, Citi has advised on M&A transactions close to $20 billion and helped raise roughly $25 billion for clients through global capital markets, including advising Indosat on a data-centre platform and supporting KKR and Singtel’s $10.9 billion acquisition of ST Telemedia Global Data Centres.

The bank has also led nearly 30 transactions for ASEAN issuers, covering public equity deals for UI Boustead Reit, CapitaLand Integrated Commercial Trust and CapitaLand India Trust, as well as bond offerings in the Philippines, Indonesia, Thailand and Malaysia. Matthew Nimtz said the trend reflects local firms going global and turning to Citi’s network for major financings. Citi projects a busy fourth quarter with further debt, equity and cross-border M&A activity.