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Tuesday, 20 December 2016

Deal-making to drive 2017 Middle Eastern banking fee fest | Reuters

Deal-making to drive 2017 Middle Eastern banking fee fest | Reuters:
"A Middle Eastern investment banking fee bonanza should extend into 2017, spurred by a combination of bond and share sales and mergers and acquisitions as the region adjusts to lower oil prices, bankers say.

Deals such as Saudi Arabia's $17.5 billion debut international sovereign issue and the sale of a majority stake in retailer Kuwait Food Co (FOOD.KW) (Americana) to Gulf-based Adeptio have helped banks' earnings, off-setting falls in other regions due to economic uncertainty and volatile markets.

Fees from the Middle East reached $581 million during the first nine months of 2016, an 11 percent rise compared to the same period in 2015, according to Thomson Reuters data, while global fees for these services fell 11 percent to $60.9 billion."

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