Citi gets merchant banking licence in Bangladesh
Citi has become the first foreign bank to secure a merchant banking licence in Bangladesh, enabling the US dealer to act as an adviser, underwriter and lead manager in the country’s local capital markets.
Citi has operated in Bangladesh since 1987, offering mostly corporate banking services, but will now be allowed to offer traditional merchant banking or investment banking services.
The licence award comes as the country’s stock market has risen by more than 60% in the year to date.
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