Investment banks earned $1.08b in fees in 2025: report

M&A advisory fees jumped 55% to $340m.

Singapore’s investment banking sector generated an estimated $1.08b (USD864.6m) in fees in 2025, a 28.9% increase from 2024 and the highest annual total since 2021, according to a report from the London Stock Exchange Group.

In their Singapore Investment Banking Review report for 2025, advisory fees from completed M&A deals rose 55.3% to $340m (USD265.1m), whilst equity capital markets underwriting fees more than doubled to $270m (USD210.9m), marking a four-year high.

Debt capital markets fees climbed 55.9% to $199m (USD155.2m), the highest since records began. Syndicated lending fees, however, fell 24.1% to $299m (USD233.4m)

DBS Group Holdings led Singapore’s investment banking fee table, earning $93.4m (USD72.9m), capturing 8.4% of the total fee pool.

The figures highlight strong growth across M&A, capital markets, and debt advisory, despite a dip in syndicated lending activity.

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