(1888PressRelease)
December 06, 2007 - Revenue for investment banks has hit record levels in the Asia Pacific region, two reports have revealed.
According to figures from data analysis firm Thomson Financial, banks have this year seen income from fees grow 36 per cent from the year-ago period to hit $11.7 billion.
This suggests that total revenue for the year will hit £13 billion, the Financial Times predicts.
The highest earning firm was UBS with revenues this year of $700 million, followed by Goldman Sachs and Morgan Stanley.
Meanwhile, a separate report by industry consultant Oliver Wyman predicts that annual revenues for investment banks, as corporate and institutional banks last year rose to $150 billion.
Mr Wyman expects banking institutions in Asia to generate revenue of $70 billion this year, some $30 billion of which will be accrued through fees from derivatives, cash equities, commodities businesses and sales trading.
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