New data showed syndicated lending in three regions - Africa, Europe, and the Middle East, was flat. The amount of syndicated lending was down 1% year to $386 billion in the first half of the year. Demand on borrows remained controlled amid increased volatility in markets.

As the scarcity of merger and acquisitions financings continue, demand for subdued, deal flow remained low-key.

"Deal flow is a bit thin and we'd all like to see a bit more, but it is all part of the normal cycle, refinancing reached its peak in 2011 and there hasn't been much M&A, despite excellent market conditions," said a senior banker. "Banks are very liquid, mostly well capitalized, and remain very willing to underwrite any M&A transactions, should they arise," he continued.

A 23% dip equal to $168 billion was reported during the second quarter. This was also lower by 42% than the second quarter of last year.