APAC investment banking fees hit lowest nine-month period in 7 years

ECM underwriting fees hit lowest figure in over a decade.

Investment banking fees generated in APAC excluding Japan fell by 19% in the first nine months of 2024 compared to the same period in 2023— marking the lowest first nine-month period since 2017.

A total of $14.4b worth in investment banking fees were recorded in the region from January to September 2024, according to data from the London Stock Exchange Group’s Deals Intelligence (LSEG).

Globally, this accounted for 17% of the total fees earned globally during the period. The Americas continued to dominate the IB fee pool, accounting for 55% of the total share; whilst Europe made up 23% of all fees.

Equity capital markets underwriting fees reached only $2.5b, 48% lower than in 9M 2023. This is the lowest period since 2013, LSEG said.

Debt capital markets fees inched up 1% from a year ago to $8.9b, whilst syndicated lending fees fell 23% to $1.6b. 

The estimated advisory fees earned in the region from completed M&A transactions reached $1.5b, lower by 31% compared to last year.

Deal making activity involving APAC excl. Japan amounted to only $477.4b for the period, 9.2% lower than in 9M 2023. This is the lowest nine-month total since 2013.

Amongst financial institutions, CITIC took the top position for overall investment banking fees in APAC excluding Japan. CITIC accounted for $771.3m or 5.4% of the region’s total IB fee pool, LSEG said.
 
CITIC leads the Asia Pacific-issued bonds underwriting, representing 6.3% market share with related proceeds of US$200.4 billion.