The number of European block trades underwritten by just one bank has hit levels last seen before the financial crisis, as investment banks are keen to take on risk and win league table credit.

Approximately $7bn has been raised via 24 block trades with a sole bookrunner in Europe year to date, according to research from data firm Dealogic. This is the highest year-to-date volume since 2007, when $9.3bn was raised via 61 deals, and a 7% increase on volumes in the corresponding period of 2011.