Citi, the US bank, said it distributed $4bn of its bonds to investors using nine women-owned broker-dealer firms to mark Women's History Month — by far the largest amount to date, in five years of running the programme.

The issuance of 11-year senior floating rate notes, priced on 24 March, significantly eclipses the $1bn issued in a similar initiative last year, as well as $250m in 2018, $2.5bn in 2017, and $1.5bn in 2016. However, the roster of women-owned firms recruited was similar.