Bahrain's best international Islamic bank: Citi Islamic Investment Bank
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Bahrain's best international Islamic bank: Citi Islamic Investment Bank

Citi Islamic Investment Bank has had a good year in Bahrain and impressed with its debt capital markets work during the awards period.

The bank's total assets increased by 7.6% to $18 million, while profit increased by 39% year on year as well.

The bank has been a dominant underwriter for sukuk issuances from the government to large corporates across the region.

It acted on several landmark deals, including acting as joint lead manager and joint bookrunner on the kingdom’s first successful sukuk issuance since 2021. The deal attracted plenty of demand, with the book oversubscribed by 4.9x.

The bank also advised Bahrain’s energy investment holding company nogaholding (now Bapco Energies) on its recent sukuk issuance, acting as joint lead manager and joint bookrunner. The $750 million deal generated interest from international and regional investors, with a final order book oversubscribed by five times.

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