Equity underwriting revenues of $ 239 million declined 8 % from a year ago.
Equity underwriting revenues were lower because of a decrease in IPO volumes across the industry, the firm said.
Not exact matches
This is about
revenue gained from combining an
equity underwriting and distribution firm with an M&A advisory firm.
Net
revenues in both
equity underwriting and debt
underwriting were significantly lower than the third quarter of 2010, reflecting a significant decline in industry - wide activity.
The bank posted $ 1.6 billion in
revenues from investment banking, down 7 % «driven by lower debt and
equity underwriting fees, which were partially offset by higher advisory fees.»
Canadian investment banks should seek to expand their foreign
equity underwriting and trading capacities to compensate for the reduction in their Canadian
revenues.
Reduced demand for Canadian
equities from Canadian investors will mean lower
equity underwriting and trading
revenues for Canadian investment dealers because it is unlikely to be replaced by increased foreign
equity trading and
underwriting by Canadian dealers.