In some years this award is a close decision, with two or three banks vying for the prize. This wasn’t one of those years.
Citi is hands down the Middle East’s best investment bank. In a strong year for M&A, it beat its rivals with ease, completing 18 deals worth $32.1 billion for a 26.5% share of the market, according to data from Dealogic. In a tough year for equity capital markets, it was there when it mattered. And in a solid year for DCM, it ranked number one in per-deal capital raise, completing 29 issues with an average value of $255 million.
In advisory, the US bank advised Abu Dhabi National Oil on its acquisition of a 24.9% stake in the Austrian energy and chemicals group OMV from Mubadala. Another key client, the Dubai logistics giant DP World, sought and secured advice on the $2.4 billion sale of a minority stake in three UAE assets to Saudi Arabia’s Hassana Investment.