LSEG Middle East & Africa Investment Banking review for first half 2024

INVESTMENT BANKING FEES

• An estimated US$724.5 million worth of investment banking fees were generated in the Middle East & North Africa during the first six months of 2024, 23% more than the value recorded a year ago and the third highest first half total in the region since our records began in 2000. 
• Debt capital markets underwriting fees increased 81% to US$230.9 million, the highest first half debt capital markets fee total in the region since our records began in 2000.
• Equity capital markets underwriting fees increased 62% year-on-year to US$206.7 million.
• Advisory fees earned from completed M&A transactions totalled US$130.7 million, a 14% increase from previous year levels.
• Syndicated lending fees declined 28% to a four-year low of US$156.4 million.
• Forty-seven percent of all MENA fees were generated in Saudi Arabia in the first half of 2024, followed by the United Arab Emirates (36%).
• HSBC earned the most investment banking fees in the region during the first half of 2024, a total of US$60.3 million or an 8.3% share of the total fee pool.