(MENAFN) Middle East and Africa, mainly Saudi Arabia, are anticipated by Citigroup to witness a considerable growth in investment banking this year.
Citigroup's chief of investment banking, Middle East and Africa, Miguel Azevedo declared the growth to be mostly pushed by the UAE, Egypt and Nigeria.
Azevedo confirmed "the pipeline in the Middle East and Africa is as good as we have seen since the global financial crisis of 2008."
He continued "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."
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