Equity capital markets bankers in Europe, the Middle East and Africa are on course for their worst first half of revenues in almost a decade, as investors remain spooked by the asset class while the region's sovereign crisis rumbles on.

Equity capital market revenues in Emea stood at $1.1bn via 378 deals as of yesterday, according to data from Dealogic. This figure is down 38% on the same period a year ago and is the lowest year-to-date amount since 2003, when banks earned $1bn via 226 deals.