Total financial services industry M&A deals worth $19bn were announced globally in Q3 2022, led by Australia and New Zealand Banking Group’s $3.33bn acquisition of Suncorp Bank, according to GlobalData’s deals database.
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The value marked a decrease of 76.9% over the previous quarter of $82.3bn and a drop of 75.7% when compared with the last four-quarter average, which stood at $77.94bn.
Comparing M&A deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $9.76bn. At the country level, the Australia topped the list in terms of deal value at $5.38bn.
In terms of volumes, North America emerged as the top region for financial services industry M&A deals globally, followed by Europe and then Asia-Pacific.
The top country in terms of M&A deals activity in Q3 2022 was the US with 268 deals, followed by the UK with 71 and Australia with 23.
In 2022, at the end of , M&A deals worth $154.2bn were announced globally in financial services industry, marking a decrease of 24.5% year on year.
M&A deals in financial services industry in Q3 2022: Top deals
The top five M&A deals in financial services industry accounted for 24.5% of the overall value during Q3 2022.
The combined value of the top deals stood at $8.95bn, against the overall value of $19bn recorded for the quarter.
The top five financial services industry financial services deals of Q3 2022 tracked by GlobalData were:
1) Australia and New Zealand Banking Group’s $3.33bn acquisition deal with Suncorp Bank
2) The $1.73bn acquisition of Pendal Group by Perpetual
3) The Toronto-Dominion Bank’s $1.3bn acquisition deal with Cowen
4) The $1.3bn acquisition of Kiwi Group by Government of New Zealand
5) The $1.3bn merger deal with Lakeland Bancorp and Provident Financial Services
