Meanwhile, advisory fees earned in Singapore from completed mergers and acquisitions (M&A) transactions reached US$292.6 million, down 22% from 2021, and syndicated lending fees declined 29% y-o-y to US$249.6 million.
Singapore investment banking activities generated US$786.7 million ($1.06 billion) in fees so far this year, down 34% y-o-y and the lowest annual total since 2018. This is according to Refinitiv’s Singapore Investment Banking Review for 2022, a report of investment banking activities in Singapore for the year.
Equity capital markets underwriting (ECM) fees fell to a four-year low of US$115.8 million, down 60% y-o-y, while debt capital markets (DCM) fees declined 26% from last year to US$128.6 million.
