Swiss bank manages to make headway in city-state league tables while UBS treads water.
Credit Suisse managed to improve its performance in a number of Singapore's investment bank league tables in the third quarter of 2022, while UBS both lost and gained market share, data released by Refinitiv on Monday indicate.
In the M&A any involvement league table, Credit Suisse jumped from 11th to sixth place, recording five deals worth $9.9 billion. That was an improvement of 90 percent from the third quarter a year earlier and meant an 11 percent market share.
UBS for its part fell to eighth from third with four deals worth $7.4 billion. Although the bank recorded the same number of deals, the ones they managed represented a decline of 77 percent in value, corresponding to a market share of 8 percent.
Third Place
In the target M&A league table, Credit Suisse went from being out of the top ten to third place with deals worth $5.1 billion, corresponding to a market share of 16 percent while UBS did not make the top ten.
In debt capital markets, Credit Suisse recorded five deals and a market share of 4 percent, helping it to rise to eighth from tenth with a total of $870 million in Singapore-domiciled bond issuances.
The value of the issued bonds, however, fell 12 percent year on year. UBS improved to 10th from 17th in the same period with three deals worth $787 million.
Overall Market
Both Swiss banks did not place in the overall investment banking fee league table and the equity capital market ranking, both of which were clearly led by local bank DBS, which took 12.1 percent wallet share of the total fee pool.
In the first nine months of the year, overall investment banking activity in Singapore fell 27.9 percent, with advisory fees falling 16.4 percent. ECM fees were down 42.9 percent and DCM declined 15.3 percent.
M&A activity was down 33.7 percent while equity capital market issuance fell a very significant 76.5 percent. There were seven IPOs by Singapore-based companies in the first nine months of the year, with proceeds down 94.5 percent from a year earlier. Debt capital markets saw a 31.5 percent decline from a year earlier.
