Tag: Investment bankers

JP Morgan becomes world’s most systemic bank, BFSI News, ET BFSI

Banking & Finance

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LONDON, – JP Morgan Chase has become the world’s most systemically important bank once again according to the latest annual ranking of top lenders by global regulators, with BNP Paribas and Goldman Sachs also now deemed more systemic.

The Financial Stability Board (FSB), made up of regulators from G20 countries, published its latest table of the world’s 30 most systemic banks on Tuesday.

Being included in the table means having to hold additional capital and undergo more intense supervision to avoid a repeat of taxpayer bailouts in the banking crisis over a decade ago.

In practice, the lenders typically hold capital buffers that are already above FSB requirements.

The 30 banks are divided between four “buckets” in order of how systemic, interconnected and complex they are, with JP Morgan now in a higher bucket than its nearest peers.

Last year JPMorgan shared the highest bucket with HSBC and Citigroup, but is now alone in the next bucket up, which had been empty. JP Morgan had been the world’s most systemic bank in 2019.

BNP Paribas and Goldman Sachs have also moved up one bucket. (Reporting by Huw Jones Editing by Rachel Armstrong)



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Advisory fees of investment bankers drops to 3-year low at $761 million, BFSI News, ET BFSI

Banking & Finance

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Advisory fees of investment bankers have fallen $761.5 million, the lowest in three years, said a report by Refinitiv, an entity owned by the London Stock Exchange.

During the first nine months of 2021, SBI Caps led the underwriting fees league table with 8.6 percent wallet share or $65.7 million. Morgan Stanley comes next with 6.3 percent with $48.1 million, followed by JPMorgan at 6.2 percent with $47.5 million.

Goldman Sachs stood at fourth with $46.7 million or 6.1 percent of the market pie. Axis Bank got $46.7 million or 6.1 percent share, while ICICI Bank had $40.4 million, 5.3 percent.

BofA Securities got $33.5 million for a 4.4 percent deal share, Kotak Mahindra Bank at $32.8 million, 4.3 percent, Citi at USD 29.1 million, 3.8 per cent, and Avendus Capital stood at the 10th place with $23.3 million for a 3.1 percent deal share.

ICICI Bank leads with $2.5 billion, 11.3 percent of the market share in ECM league table.

Since the deal making process is online, the i-banking fees have dropped as merchant bankers are charging less from their clients. Another reason for the drop is the higher average deal value size of $105 million, which was up 14.4 percent year-on-year with 17 deals topping the $1-billion mark and totalling $38.8 billion, compared with 12 deals above $1 billion worth a total of $30.1 billion on a year-on-year basis.



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Sebi allows payments banks to act as investment bankers, BFSI News, ET BFSI

Banking & Finance

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NEW DELHI: To provide easy access to investors to participate in public and rights issues by using various payment avenues, markets regulator Sebi on Tuesday allowed payments banks to carry out the activities of investment bankers.

Non-scheduled payments banks, which have prior approval from the Reserve Bank of India (RBI), will be eligible to act as a banker to an issue (BTI), Sebi said in a circular.

This is subject to fulfilment of the conditions stipulated in the BTI rules.

Further, payments banks registered as a BTI will also be permitted to act as self-certified syndicate banks, subject to the fulfilment of the criteria laid down by the Sebi in this regard from time to time.

“The blocking/movement of funds from the investor to issuer shall only be made through the savings account of the investor held with the payments bank,” Sebi said.

In a notification dated July 30, the regulator amended the Bankers to an Issue rules, thereby permitting such other banking company, as may be specified by the Sebi, from time to time, to carry out the activities of Bankers to an Issue (BTI), in addition to the scheduled banks.

Bankers to an issue mean a scheduled bank or such other banking company as may be specified by Sebi carrying activities, including acceptance of application money, acceptance of allotment or call money, refund of application money and payment of dividend or interest warrants.



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