DBS clinches most investment banking fees in Singapore

Deutsche Bank is the top bank for M&As, whilst Citi took the largest share for ECM underwriting.

DBS Group Holdings has captured the biggest share of investment banking fees in Singapore across the first nine months of 2023, according to data from Refinitiv.

DBS has amassed US$73.6m in fees in total. Whilst 13% lower compared to the same period in 2022, it was still a 12.6% portion of the whole fee market, and enough to buoy the bank to the top of Refinitiv’s rankings.

Notably, DBS has captured the most proceeds in Singapore’s debt capital markets underwriting, with US$2.1b of related proceeds or a 12.5% market share.

ALSO READ:DBS's Sanjoy Sen explores digital currency, future M&A opportunities

JP Morgan clinched 11.2% of all fees, equal to US$65.5m. This is over double the fees it amassed during the same period a year ago.

BofA Securities rounded out the top three with US$63.8m in fees, a 29% increase from a year ago.

Overall, Singapore’s investment banking activities generated 20% lower fees in the first nine months of 2023. 

Per activity, Deutsche Bank takes the top spot in the any Singapore involvement M&A financial advisor league table so far during the first nine months of 2023 with a 17% market share.

Citi took the largest share of fees related to Singapore’s equity capital markets underwriting, with a 24% market share.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


What Makes BNI's API Service Stand Out in the Open Banking Era?
Until December 2023, the bank's application programming interface attracted 4,000 customers and generated transactions worth IDR 828 trillion in the past year.
How have banks’ wealth management pivots played out?
There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.