The busiest week for US initial public offerings in more than two years sparked a closely-fought race for deal credit between two of the country’s biggest banks.

Citigroup edged out Bank of America Merrill Lynch by raising just $18m more from IPOs in the US between Monday and close of play on Thursday. A total of 11 deals priced over the period, more than in any week since the one beginning December 6, 2010, when 10 deals priced, according to Dealogic.