APAC investment banking fees drop to eight-year-low in H1

ECM underwriting fees fell to its lowest level since 2013.

A total of $9.3b of investment banking fees were generated in the Asia Pacific region (excluding Japan) during the first six months of 2024– 25% lower than the same period in 2023, according to data from the London Stock Exchange Group (LSEG).

This marks the lowest first half period since 2016.

APAC ex. Japan fees accounted for 16% of total fees earned globally during the first half period, trailing behind the Americas (55%) and Europe (24%), respectively.

Underwriting fees generated by the equity capital markets (ECM) dropped 52% in H1, at just $1.6b. This is the lowest period since 2013.

Debt capital market fees dipped 5% to $5.5b compared to H1 2023.

Syndicated lending fees also fell by 39% to $1.2b.

Estimated advisory fees earned in APAC from completed mergers and acquisitions (M&As) reached $964m, a 28% decline compared to H1 2023. 

Amongst financial institutions, CITIC took the top position for overall investment banking fees in APAC excluding Japan, with a total of $489.5m. This accounts for 5.3% of the wallet share of the total APAC IB fee pool, according to LSEG.