Dubai: Investment banking fees earned by banks operating in the Middle East and North Africa (Mena) declined 8 per cent in the first quarter of 2012, according to data compiled by Thomson Reuters .
“Investment banking fees fell this quarter continuing last year’s trend as the Arab Spring continues to take its toll on the banking sector.
“This quarter was the lowest quarter for fees in the region since the second quarter of 2005,” said Russell Haworth, Managing Director, Middle East and Africa at Thomson Reuters .
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