Despite biz surge, I-bankers make lowest $761 mn in advisory fee

Mumbai: Despite deal making scaling past a three-year-high level during the first nine months of the year at over $90 billion, investment bankers' advisory fees fell to $761.5 million during the period, the lowest in three years, according to a report.

SBI Caps tops the underwriting fees league table with 8.6 per cent wallet share or $65.7 million, followed by Morgan Stanley (6.3 per cent with $48.1 million) and JPMorgan (6.2 per cent pie with $47.5 million) during the first nine months of the year 2021, according to a report by financial markets data provider Refinitiv, is an entity owned by the London Stock Exchange Group.

As per the report, Axis Bank got $46.7 million or 6.1 per cent share, Goldman Sachs stood at the fourth slot with $46.7 million or 6.1 per cent each of the market pie, and ICICI Bank ($40.4 million, 5.3 per cent) comes at the fifth slot. Wall Street brokerage BofA Securities comes sixth with $33.5 million for a 4.4 per cent deal share, followed by Kotak Mahindra Bank ($32.8 million, 4.3 per cent), Citi ($29.1 million, 3.8 per cent), and Avendus Capital taking home $23.3 million for a 3.1 per cent deal share and take the 10th slot, according to the report. Within the ECM league table, ICICI Bank leads with $2.5 billion in related proceeds and 11.3 per cent of the market share, followed by JPMorgan and Axis Bank capturing 9.5 per cent and 8.8 per cent pie, respectively.