In the first half of 2023, investment banking fees generated in Singapore saw a significant drop, in line with the broader market downturn.
Singapore recorded around $401.8 million of total fees for investment banking activities in the first half of 2023, according to Refinitiv data, down 25 percent year-on-year.
Advisory fees from completed mergers and acquisitions (M&A) transactions accounted for the largest share at $162.8 million, though this was 21 percent lower year-on-year. Syndicate transaction fees fell 18 percent to $125.9 million and equity capital market underwriting fees decreased 16 percent to $76.8 million.
Bank of America Securities was the leader in Singapore investment banking fees at $54.2 million in the first half of 2023, accounting for 13.5 percent of total fees generated.
