Report Highlights: MENA Investment Banking Review - Q1 2026
INVESTMENT BANKING FEES
An estimated US$331.1 million worth of investment banking fees were generated in the Middle East & North Africa during the first three months of 2026, 32% less than year ago levels and the lowest first-quarter total since 2024.
MERGERS & ACQUISITIONS
The value of announced M&A transactions with any Middle East or North African involvement reached US$18.8 billion during the first three months of 2026, a 74% decline from year-ago levels. The number of deals announced in the region decreased 9%.
EQUITY CAPITAL MARKETS
MENA equity and equity-related issuance totalled US$427.9 million during the first three months of 2026, a 91% decline from year-ago levels and the slowest annual start in the region since 2011. The number of issues declined 69% year-on-year to just 5 during the first quarter of 2026.
DEBT CAPITAL MARKETS
MENA bond issuance totalled US$48.1 billion during the first three months of 2026, 12% less than the value recorded during the same period in 2025. The number of issues declined 11% over the same period.