Middle Eastern debt bankers earned a quarter more in fees last year than in 2011 on the back of rising debt volumes, with Standard Chartered taking top spot from Deutsche Bank in the revenue rankings, according to Thomson Reuters data.

Middle Eastern debt volumes rose to $38.6bn in 2012, up 26% from 2011, making it the strongest year-end figure since 2009. Bankers earned $93.8m in fees, also up 26% from the previous year, with Standard Chartered moving up to top spot in the league table.