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Despite a massive fall in deal making in the March quarter, deal makers laughed their way to the bank with USD 261.5 million in investment banking fees during the same period, according to a report. The amount is 2 per cent higher compared to the year-ago period. In the three months ended March, deal-making activities declined for the third consecutive quarter, making it the slowest start to a year since 2016 amid multiple headwinds. Geopolitical tensions, supply chain disruptions, rising interest hikes and global recession fears continue to dampen boardroom confidence and investor sentiment, Refinitiv, which is an LSEG business unit and among the world's largest providers of financial markets data and infrastructure, said in the report. Equity Capital Market (ECM) underwriting fees rose 15 per cent to USD 50 million -- the highest first quarter fees since 2021 while debt capital market underwriting fees totalled USD 71.4 million. The latter is a 22 per cent increase compared to th