Investment bankers’ fee income hits record $1.3 billion in 2023

Investment bankers laughed all the way to the bank as their fee income touched a new record of $1.3 billion in 2023, growing 28 per cent over the previous year. At $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 $ 102.7 million, which is 7.7 per cent of the country’s overall investment banking fee pool, according to the agency.