Jan-July fee income up 7% vs year ago as Q2 surge slows

摘要

The revival in investment banking fees seen since mid-March slowed during July, leaving global revenues from debt and equity underwriting, M&A advisory and syndicated loans in the first seven months of this year up 7% from a year earlier. Global fees from DCM, ECM, M&A and syndicated loans were US$67.2bn across the industry through to July 30, up US$4.2bn from US$63bn at the same stage of 2019, according to Refinitiv data. Fee income had been up 9% at mid-year, so the performance during July was down slightly on last year. That echoed comments from bank executives during July, who said activity had moderated from the record revenues seen between April and June.