DUBAI Jan 19 Investment banking fees in the
Middle East grew 20 percent last year, data compiled by Thomson
Reuters showed, as capital markets activity continued to recover
gradually from the global financial crisis.
Total fees rose to $722 million in 2013, the highest since
2010, from $603 million in 2012 - though they were still only
about half of their 2007 record high of over $1.4 billion.
Fees from completed mergers and acquisitions (M&A) climbed
22 percent to $213 million, as the value of announced M&A deals
with any Middle Eastern involvement rose 7 percent to $43.4
M&A flows into the Middle East edged down 3 percent to $6.1
billion. Egypt was the most popular target for foreign
acquirers, accounting for over two-thirds of M&A inflows, while
China provided over half of flows into the region.
Outbound M&A from the Middle East - defined as the Gulf,
Levant countries and Egypt, but not including other North
African states - increased 11 percent to $14.8 billion.
The data showed that despite last year's sharp rise of share
prices in the Gulf, stock market activity has not come close to
recovering from the crisis: Middle Eastern companies raised just
$4.2 billion in 2013, down 39 percent from 2012, because of an
80 percent drop in follow-on share offers.
Debt issuance in the region throughout 2013 totalled $38.6
billion, little changed from the 2012 level of $38.8 billion.
(Reporting by Andrew Torchia; Editing by Mark Potter)