Asia-Pacific banking fees fall 3% as Singapore gains 3.1%

Singapore captured 48.9% of Southeast Asia fee pool despite the regional slowdown.

Asia-Pacific’s investment banking fees dipped 3% in the first half of the year (H1 2026), reaching $12.1b.

Singapore, which accounts for 3.0% of the region, generated an estimated $418.4m in investment banking fees in the first half of 2026, up 3.1% from a year earlier and the highest first-half total in four years.

Singapore also accounted for 48.9% of Southeast Asia's fee pool, even as fees across Southeast Asia fell 6.0% year on year.

Globally, investment banking fees totalled $78.2b, up 14%. The Americas remained the largest market, generating $45.7b in fees, a 25% increase from a year earlier. 

Europe recorded $16.1b, up 4%, whilst Japan posted the strongest growth amongst the major regions, with fees rising 23% to $2.9b.

The Middle East and Africa also reported weaker performance, with fees down 9% to $1.2b.

In Singapore, advisory fees from completed mergers and acquisitions reached $142.5m, up 8.5% from the first six months of 2025 and the highest first-half level in three years. 

Equity capital markets underwriting fees fell 6.1% to $85.7m, whilst debt capital markets fees dropped 30.2% to $56.1m. Syndicated lending fees increased 30.3% to $134.2m.