(1888PressRelease)
November 29, 2007 - Global investment banks are set to record income from fees from their debt, equity and mergers and acquisitions business, new research shows.
According to figures from investment banking research firm Dealogic, investment banking fees in Europe, Middle East and Africa are set to hit $28.9 billion this year.
This represents an increase of 7.8 per cent from the same period a
year ago, the Wall Street Journal reports.
Meanwhile, global investment fees are up ten per cent on the back of expanding economies such as China and India.
Growth was especially strong in Europe, where income from fees currently standing at $79.2 billion.
The increased revenue comes despite the impact of the credit crunch which has so far seen banks record total write-downs of $52 billion, according to analysts from Financial News.
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