During the quarter, advisory fees for mergers and acquisitions (M&A) that were completed during the period fell 26.8% y-o-y to US$78.2 million.
Investment banking activities in Singapore saw fees decline 15.6% y-o-y to US$221.3 million ($300.4 million) in the first quarter of 2022, with BofA Securities leading contributions.
According to data collated by Refinitiv, the bank clinched a total of US$33.3 million, or a 15.1% wallet share of the total fee pool. This was followed by JP Morgan with a 9.2% wallet share.
