The Swiss-based bank makes the top ten for overall fees in the city-state in the fourth quarter of 2022 while UBS places eighth in home-grown bonds. The overall market puts in the worst annual performance since 2018.
Credit Suisse managed to overtake three of its peers and land ninth in the overall Singapore investment banking fees league table in the fourth quarter of 2022, preliminary data released Friday by Refinitiv indicate.
Switzerland's second-largest bank took 3.1 percent in wallet share in the last quarter of this year, a 1.2 percentage point increase from the same period a year earlier. That performance corresponded to $24.7 million in fees, an improvement of 9 percent.
Bond Rankings
When it came to Singapore-domiciled bonds, UBS, Switzerland's largest bank, placed eighth in the fourth quarter with four successful issues, an improvement from its rank of 14th last year. Credit Suisse fell to tenth from ninth in the same category.
That meant a market share of 3.7 percent and total bond proceeds of $1.03 billion, up 121 percent, or well more than double, from a year earlier. UBS's rank in announced M&A (any involvement) fell to ninth from fourth in the last quarter of the year. Its market share was 6.2 percent, with the value of the five deals it was involved in down 77% percent at $7.5 billion.
Overall Market
The Singapore investment banking market deteriorated perceptibly in 2022, with investment banking fees down 34 percent, and M&A falling 38 percent. Equity Capital Management proceeds almost collapsed, declining 80 percent, while debt capital ones were off 34 percent. According to Refinitiv, it was the lowest annual total in investment banking fees since 2018.
DBS took the lead in the Singapore investment banking fee market with $90.5 million in fees of the total fee pool, corresponding to a share of 11.5 percent.
