Investment banking fees generated in the Middle East and North Africa (MENA) reached an estimated $1.2 billion across the whole of 2020, down 12 percent from 2019 and representing the fourth-highest total since 2000, according to data from Refinitiv.
Advisory fees worth $441.2 million were earned from completed M&A transactions throughout 2020, up 12 percent from 2019 and the second-highest year in fees since 2000, second only to 2007 with $447.3 million, the global data provider noted.
Debt capital markets saw an increase in fees reaching a record $282.3 million, up 10 percent compared to 2019.
"This represents the highest annual fees total since our records began in 2000. Meanwhile, equity capital market underwriting fees declined 61 percent to $86.9 million, marking the lowest full-year equity fees total since 2016," Refinitiv said.
Syndicated loans also fell 8 percent to a three-year low of $410.4 million. Government and Agencies contributed the most fees with $450.7 million, representing 37 percent of total fees, up from 22 percent in 2019.
The UAE along with Saudi Arabia represented two-thirds of Investment banking fees in MENA generating $433.9 million and $382.9 million, respectively. HSBC earned the most investment banking fees in MENA during 2020, a total of $104.8 million or an 8.6 percent share of the total fee pool.
(Reporting by Seban Scaria; editing by Daniel Luiz)
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