Following a slow 2023, M&A deals in the European financial services industry picked up in 2024, with an 22% year-on-year increase in the number of deals, according to EY latest financial services M&A analysis. European banks, insurers and asset managers publicly disclosed 784 deals across the region in 2024 – the highest annual volume since 2015 – compared to 643 deals in 2023.
The total disclosed deal value also rose from €36.3bn in 2023 to €52.0bn in 2024 – with 10 deals above €1bn in value last year.
The lift in M&A activity in 2024 was most pronounced in H2, with 415 deals announced – the highest H2 volume since 2012 and a 58% year-on-year increase from 263 deals in H2 2023.