Merchant banks look to equity market for growth

With the corporate bond market slowing down in the second half of the year, merchant bankers are expecting equity-related activities to drive their growth next year. 

Industry players said although the bond market was negatively correlated to the equity market, the increased activities in the latter, particularly in the area of mergers and acquisitions (M&As) and initial public offerings (IPOs), would likely drive earnings growth for merchant banks in the year ahead.