MENA M&A Reached US$58 billion in the first nine months of 2020 - Refinitiv

• MENA Investment banking fees recorded US$895 million in the first nine months of 2020
• MENA equity and equity-related issuance reached US$2.6 billion while debt issuance totalled US$92.4 billion in first nine months of 2020

Dubai, UAE – Refinitiv released the Middle East and North Africa investment banking analysis for the first nine months of 2020. According to the report, investment banking fees generated in the Middle East and North Africa reached an estimated US$895.7 million during the first nine months of 2020, up 4% from the same period in 2019 to the highest year-to-date total since 2008.  US$361.4 million worth of advisory fees were earned from completed M&A transactions in the region during the first nine months of 2020, up 23% from last year to the highest year-to-date total since our records began in 2000. 

Debt capital markets underwriting fees also increased from last year, up 2% to US$211.7 million, the second highest year-to-date total since our records began.  Meanwhile, equity capital markets underwriting fees declined 20% to US$44.6 million, marking the lowest first nine-month total for equity fees in the region in four years, and syndicated lending fees fell 8% to a five-year low of US$278.0 million. Government & Agency fees accounted for 35% of total investment banking fees earned in the region during the first nine months of 2020, up from 24% during the same period last year. 

The United Arab Emirates generated the most fees, a total of US$361.0 million accounting for 40%, followed by Saudi Arabia with US$268.3 million. HSBC earned the most investment banking fees in the region during the first nine months of 2020, a total of US$91.1 million or a10% share of the total fee pool.