COMPANIES If commercial banks have been finding it tough to make money on lending to companies, investment banks have not.
The sharp shrinkage in bank lending across Europe – as depleted capital bases force banks to rein in anything but top-notch credit – has proved a boon for investment banks since the start of the year: the rush by companies to raise funds on the bond markets instead has generated an avalanche of investment banking fees. The only question now is: will it last?
