Bonus hike of 30% to 50% for investment bankers seen likely

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M&A boom aside, debt capital market (DCM) underwriting fees surged 87.6 per cent from a year ago to hit US$182.6 million as primary bond offerings from Singapore-domiciled issuers witnessed a record period to raise US$45 billion so far this year, Refinitiv showed.

DBS topped the DCM league table in 2021, accounting for 16 per cent of market share.