US banking M&A plummeted in 2022

Globally, M&A deals dropped 19.6% year-on-year in 2022. All regions, except for the Middle East and Africa, saw a year-on-year decline. Barbara Pianese reports.

by Barbara Pianese

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Global merger and acquisition (M&A) deals in the banking space saw major drops in total deal volume and value last year, thanks to economic uncertainty, rising interest rates and greater regulatory scrutiny.

Excluding 2020, banking M&A volume in 2022 reached its lowest level in six years. The year saw 167 closed transactions worth a total of $22.6bn, compared with 205 closed deals totalling $76.6bn the previous year, according to the Deloitte 2023 banking and capital markets M&A outlook.

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Barbara Pianese

Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.