Citigroup expects 2018 to be its best year for investment banking in the Middle East and Africa in at least a decade, MEA Head of Investment Banking Miguel Azevedo told Reuters. Citigroup expects growth to be led by Saudi Arabia, but Nigeria, Egypt, and the United Arab Emirates would also be among the top growth drivers as bond sales, mergers and acquisitions and public share sales pick up. “The pipeline in the Middle East and Africa is as good as we have seen since the global financial crisis of 2008 … GDP growth for advanced economies this year is between 2.5 and 3 percent, while for emerging markets it is between 4.5 and 5 percent. For investment banking, the growth should maybe be even more,” Azevedo says. “Egypt’s outlook was also positive after the 2016 currency devaluation and IPOs were slated in sectors such as industrial and manufacturing and financial services and consumer,” he added.

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