MENA M&A transactions totalled US$50 billion in the first half of 2020

MENA M&A transactions totalled US$50 billion in the first half of 2020

Refinitiv released the 2020 first half investment banking analysis for the Middle East and North Africa. According to the report, investment banking fees in the Middle East and North Africa reached an estimated US$522.1 million during the first half of 2020, down 25% from last year and a three-year low with declines recorded across equity underwriting, M&A advisory, and syndicated lending.  



Equity capital markets underwriting fees declined 62% to US$17.1 million, marking the lowest first half year total for equity fees in the region since 2009. Advisory fees earned from completed M&A transactions generated US$206.4 million, down 7% year-on-year, while syndicated lending fees fell 50% to a five-year low of US$137.7 million. Debt capital markets underwriting fees increased 6% year-on-year to US$161.0 million, the highest first half total since our records began in 2000.  



Government & Agency fees accounted for 36% of total investment banking fees earned in the region during the first half of 2020, up from 24% during the same period last year.  Saudi Arabia generated the most fees in the region during the first six months of the year, a total of US$206.0 million accounting for 39%, followed by the United Arab Emirates with 29%.   



HSBC