Goldman Sachs (GS) - Get Report earned the most from the $923 million in fees stemming from U.S. initial public offerings this year, while Citigroup (C) - Get Report disappeared from the Top 5 IPO banks after its fee income dropped by 50% , according to an analysis of fee data compiled by Bloomberg .
Goldman Sachs made $191.6 million;
Bank of America
placed second with $158.2 million in fee income after helping arrange the largest number IPOs this year but charging below average fees;
more than quadrupled the amount it made from underwriting IPOs to $156.1 million;
made $105.4 million and charged the industry's highest fees;
received $53.7 million in IPO fees this year and Citigroup fees dropped to $68.3 million, according to Bloomberg.
Banks increased IPO fees to 5.63% in 2009 from a record low of 3.48% in 2008 even as the amount that U.S. companies raised decreased by almost half to $16.4 billion this year, according to Bloomberg data. Almost 40% of offerings in the second half of 2009 left buyers with losses, Bloomberg reported.
This article was written by a staff member of TheStreet.com.