Report Highlights: MENA Investment Banking Review - Full Year 2025
INVESTMENT BANKING FEES
An estimated US$2.1 billion worth of investment banking fees were generated in the Middle East & North Africa during 2025, 23% more than the value recorded in 2024 and the highest annual total in the region since our records began in 2000.
MERGERS & ACQUISITIONS
The value of announced M&A transactions with any Middle East or North African involvement reached US$193.1 billion during 2025, 154% higher than the level of activity recorded in the region during 2024.
EQUITY CAPITAL MARKETS
MENA equity and equity-related issuance totalled US$15.4 billion during 2025, a 49% decline from year-ago levels. The number of deals saw a 9% decline year-on-year.
DEBT CAPITAL MARKETS
MENA bond issuance totalled US$171.1 billion during 2025, 43% more than the value recorded in 2024 and the highest annual total since our records began in 1980. The number of issues increased 46% over the same period, besting all previous full year tallies.