Indan i-bankers’ 2023 earnings highest since 2000

Investment bankers laughed all the way to the bank as their fee income touched a new record of USD 1.3 billion in 2023, growing 28 per cent over the previous year. At USD 1.3 billion in estimated fees during 2023, investment bankers collected 28 per cent more than they did last year, and this is the highest since records began in 2000, according to the data collated by LSEG Deals Intelligence, formerly Refinitiv.

The fee income of investment bankers got a boost due to higher equity and debt issuance volumes which offset the massive plunge in deal activities.

State Bank of India took the top position in investment banking fees chart with a collection of USD 102.7 million, which is 7.7 per cent of the country’s overall investment banking fee pool, according to the agency.

The fee income chart was led by M&A’s (mergers and acquisitions) contributing USD 416.1 million, which was 7 per cent down year-on-year. The deal street saw a massive 51 per cent fall in value over 2022, the agency said.

The second highest fee source was the fee from equity capital market (ECM) underwritings, which reached USD 343.5 million, up 68 per cent over 2023, it said.

ECM activities raised USD 31.2 billion in 2023, up 59.6 per cent over 2022, making the latest collection figure the highest since 2021.