Investment banking fees fall 17% in region

Total fees for investment banking activity in the Middle East and North Africa fell for the third consecutive year, according to data compiled by Thomson Reuters. So far in 2018 there has been a 17% drop year on year, bringing fees down to their lowest level since 2015. Much of the decline has come from a reduction of mergers and acquisitions, which account for a lower share of regional investment banking fees than at any time since 2000. Equities was the only asset class to see an increase in its share of fees, rising from 27.5% to 29%. Debt capital market (DCM) fees accounted for 29% of the total figure, with corporates responsible for 41% of this total and sovereign issuance paying the remaining 59%. Standard Chartered currently heads the league table in DCM fees. It gathered $24.25 million and a 17.1% share, almost twice as much as the second-placed bank HSBC with $12.17 million. ©2018 funds global mena

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