Analysis of the key themes driving M&A activity reveals that digital banking accounted for 8 financial services deals announced in Q2 2023, worth a total value of $530.1m. The $524m minority acquisition of AIB Group by Department Of Finance And Personnel was the industry’s largest disclosed deal. GlobalData’s Digital Banking Trend Analysis report provides an overview of the current state of play among digital-only banks across the world. It analyses the business models of 11 digital-only providers based on their successes, failures, strengths, weaknesses, and future prospects. Buy the report here.
In value terms, digital banking-related deal activity decreased by 79% in Q2 2023 compared with the previous quarter’s total of $2.5bn and fell by 99% as compared to Q2 2022. Related deal volume decreased by 20% in Q2 2023 versus the previous quarter and was 20% lower than in Q2 2022.
The top-ranked financial advisors supporting these M&A deals in Q2 2023 were Bank of America; BNP Paribas; Joseph Gunnar with 1, 1, 1 deals respectively.
The top-ranked legal advisors supporting these M&A deals in Q2 2023 were Kline Law Group; Lucosky Brookman; Luse Gorman, PC with 1, 1, 1 deals respectively.
For further understanding of GlobalData's Digital Banking Trend Analysis buy the report here.