Citi sees higher markets-related business in Asia from global investors

Client activity with the bank’s international corporate clients to the Asia market is up 12% in the first three quarters of 2024.

Citi reported increased flows from global investors into Asia, particularly in its markets business.

Client activity with Citi’s international corporate clients— who were also not headquartered in Asia— across areas such as fixed income, equities, interest rates, FX, and commodities rose by 12% during the first three quarters of 2024. This is compared to the same period in 2023, Citi said in a statement.

Public sector sales and trading activity, including government related pension funds and sovereign wealth funds, is up 39% year-on-year.

Citi observed increased flow from the Middle East into Asia, calling it a “fast-growing” emerging trade corridor.

The bank also observed a rising number of corporate clients doing markets-related business across Asia. In Latin America, Citi said that the number has risen by 14%; whilst in North America, the number is up 10% compared to 2023 levels.

Fixed income, currencies (FX), and commodities (FICC) in Asia saw an 11% growth in corporate clients. This was due to corporates reconfiguring supply chains.