Dubai: Middle Eastern & North African (Mena) investment banking fees declined six per cent year on year in the first quarter of 2018 to $243.1 million (Dh892 million) recorded during the same quarter last year due to subdued capital market activity, according to the latest data from Thomson Reuters. “Debt capital markets fees accounted for 26 per cent of the overall Middle Eastern & North African investment banking fee pool. Syndicated loansMena region’s equity and equity-related issuance totalled $1.4 billion during first quarter of 2018, a 158 per cent increase year-on-year. Moelis & Co topped the completed M&A fee rankings with 23.2 per cent of advisory fees, while ECM underwriting was led by Al Rajhi Banking & Investment with $3.1 million in ECM fees, or a 19.1 per cent share. HSBC took the top spot in the Middle Eastern syndicated loans fee ranking.

Source: The North Africa Journal April 12, 2018 12:56 UTC