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Mena investment banking fees declined 6% in first quarter 2018

Ankit Sharma

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<p>Dubai: Middle Eastern &amp; 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.</p> <p>Debt capital markets (DCM) underwriting fees totalled $62.9 million, down 18 per cent. Equity capital markets (ECM) fees decreased 46 per cent to $8.4 million. Fees generated from completed M&amp;A transactions totalled $15.1 million, a 82 per cent decrease from last year and the lowest annual start since 2004.</p> <p>&nbsp;</p> <p>&ldquo;Debt capital markets fees accounted for 26 per cent of the overall Middle Eastern &amp; North African investment banking fee pool. Despite being down 18 per cent year-on-year, this was the second highest start of the year in the region since our records began in 2000,&rdquo; said Nadim Najjar, Managing Director, Middle East and North Africa, Thomson Reuters.</p> <p>&nbsp;</p> <p>Source:--<a href="http://gulfnews.com/business/sectors/banking/mena-investment-banking-fees-declined-6-in-first-quarter-2018-1.2204421" rel="noreferrer" target="_blank">http://gulfnews.com/business/sectors/banking/mena-investment-banking-fees-declined-6-in-first-quarter-2018-1.2204421</a>‚Äč</p>