Saudi Arabia was the highest investment banking fee-earning nation in MENA with 36 percent of total fees, followed by the UAE with 34 percent, according to data provider Refinitiv.
Investment banking fees in MENA totaled $806 million during the first half of 2022, up 18 percent from last year and the strongest first-half total since 2000.
Fees from equity capital markets compelled this new high rising 332 percent to $229 million, the highest year-to-date total on record.
Completed mergers & acquisition (M&A) fees increased by 26 percent to $246 million, the third-highest first-half total on record and accounting for 31 percent of the overall fee pool, the report showed.
JP Morgan took the top spot in the MENA investment banking fee league table, earning $54.4 million or a 6.7 percent share of the market. Goldman Sachs and HSBC Holdings took second and third place with 6 percent and 5.9 percent market share, respectively.
