Citi Records Strong Institutional Business Growth in Taiwan
(1 December 2021 – Taiwan) Citi’s institutional business in Taiwan saw a significant acceleration in 2021, especially in the areas of capital raising, mergers and acquisitions (M&A) and trade.
Citi has been an adviser on five Taiwan-related M&As, covering businesses in technology, retail sales, renewable energy and financial services.
The bank has also supported billions of dollars in fundraising for Taiwan corporates across local and global capital markets. Within equity capital markets, Citi supported fundraising of nearly $1.5 billion in 2021 across businesses linked to financial services, semiconductors and other electronics manufacturing. And within debt capital markets, it helped raise $8 billion, also for manufacturing-related businesses.
According to the bank, outflows from Taiwan to India have increased nearly 50 percent this year, while outflows from Taiwan to ASEAN members have risen about 20 percent, as firms continue to diversify their supply chains. The bank has also seen steady growth in inflows to Taiwan, too, most notably from companies in Australia, India and Japan.
“Taiwan is home to many world-class companies and we are committed to supporting their ambitions. There is a massive transformation happening across all industries and with a global network, this has helped sharpen Citi’s dialogue with clients in Taiwan, as they increasingly want a regional and global perspective,” said Citibank Taiwan head of banking, capital markets and advisory and chair of Asia Pacific Corporate Banking Christie Chang.
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