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According to figures published in the IFSL March Banking report report, revenues generated by global investment banking continued their upward move in 2005. Despite this strong growth, revenues were still 7% short of the 2000 peak.
Aided by recovery in both the global economy and capital markets, M&A contributed to a 38% rise in fee revenue in 2005 and remains the primary source of investment banking income. Moreover, with $2.7 trillion in announced deals last year, M&A growth is set to continue in 2006.
UK banking sector assets reached over Pounds 5,526bn at end-2005, around three times the total a decade earlier. The international nature of commercial banking in the UK is demonstrated by a half of assets being held by foreign banks, mostly from elsewhere in the EU, and over a half of deposits originating from overseas.