Total financial services industry M&A deals worth $4.5bn were announced globally in September 2022, led by $1.3bn merger of Lakeland Bancorp and Provident Financial Services, according to GlobalData’s deals database.

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The value marked a decrease of 45.7% over the previous month of $8.21bn and a drop of 78.4% when compared with the last 12-month average, which stood at $20.65bn.

Comparing M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $2.86bn. At the country level, the US topped the list in terms of deal value at $2.86bn.

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.

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The top country in terms of M&A deals activity in September 2022 was the US with 71 deals, followed by the UK with 18 and Germany with seven.

In 2022, as of September, financial services M&A deals worth $154.2bn were announced globally, marking an increase of 24.5% year on year.

financial services industry M&A deals in September 2022: Top deals

The top five M&A deals accounted for 73% of the overall value during September 2022.

The combined value of the top five financial services M&A deals stood at $3.26bn, against the overall value of $4.5bn recorded for the month.

The top five financial services industry M&A 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) Tencent Holdings’s $297.62m acquisition deal for 49.9% stake in Guillemot Brothers

4) The $244.26m acquisition of 66.13% stake in China Tonghai International Financial by Quam Tonghai

5) Sun Life Financial’s $214m acquisition deal for 51% stake in Advisors Asset Management