Investment Banking Fees in Asia Pacific Hit Eight-Year Low

Investment banking fees in the Asia Pacific region, excluding Japan, dropped to $9.3 billion in the first half of 2024, marking a 25% decline compared to the same period in 2023. This is the lowest first-half performance since 2016, according to data from the London Stock Exchange Group (LSEG).

The Asia Pacific region accounted for 16% of global investment banking fees during this period, behind the Americas at 55% and Europe at 24%.

Equity capital markets (ECM) underwriting fees saw a significant drop of 52%, totalling $1.6 billion—the lowest since 2013. Debt capital market fees decreased by 5% to $5.5 billion, and syndicated lending fees fell 39% to $1.2 billion.

Advisory fees from completed mergers and acquisitions (M&A) in the Asia Pacific region reached $964 million, down 28% from the first half of 2023.

CITIC led the financial institutions in the region, excluding Japan, with $489.5 million in investment banking fees, representing 5.3% of the total APAC fee pool, according to LSEG.