Total financial services industry deals worth $6bn were announced globally for September 2022, with the $1.3bn merger of Lakeland Bancorp and Provident Financial Services being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 47.5% over the previous month of $11.51bn and a drop of 77.2% when compared with the last 12-month average of $26.46bn.

In terms of number of deals, the sector saw a drop of 24.13% with 283 deals in September 2022 when compared to the last 12-month average of 373 deals.

In value terms, North America led the activity with deals worth $3.69bn in September 2022.

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financial services industry deals in September 2022: Top deals

The top five deals accounted for 55.5% of the overall value during September 2022.

The combined value of the top five deals stood at $3.36bn, against the overall value of $6bn recorded for the month.

The top five financial services industry deals of September 2022 tracked by GlobalData were:

1) The $1.3bn merger deal with Lakeland Bancorp and Provident Financial Services

2) The $1.2bn acquisition of FourThought Financial by Focus Financial Partners

3) Acrew Capital, Allianz X, Centerbridge Partners, Gallatin Point Capital, Greycroft Growth and White Mountains Insurance Group’s $315m venture financing deal with Pie Insurance Holdings

4) The $297.62m acquisition of 49% stake in Guillemot Brothers by Tencent Holdings

5) Quam Tonghai’s $244.26m acquisition deal for 66.1% stake in China Tonghai International Financial