Sound Capital Market Revenues at European Firms in Q3; Advisory Revenue Growth Continues
DBRS Morningstar has published a commentary looking at the Capital Market Revenue Growth at European firms in Q3.Key highlights include:
• European firms reported on aggregate higher capital markets revenues in Q3 compared to the year before largely driven by growth on advisory revenues and despite significantly lower Fixed Income Sales & Trading revenues.
• Q3 Underwriting activities continued to show momentum, particularly in Equity Capital Markets (ECM).
• In Q3, US Peers performed better than European firms with aggregate revenue growth
“European Firms' Q3 2021 capital market revenues showed strong growth in Q3 largely reflecting significant growth of advisory revenues on the back of strong M&A Activity. Fixed-Income S&T revenues however, continued to show weakness YoY with lower revenues in rates, FX and credit across firms but this was expected after extraordinarily high revenues the year before” said Maria Rivas, Senior Vice President, Global Financial Institutions at DBRS Morningstar.
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