Deals
Bank M&A to Get ‘Significant’ Boost in 2019, Ernst & Young Says
- U.S. financial deals more than doubled to $197 billion in 2018
- Activity spurred by easing rules, tax overhaul, tech focus
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The U.S. banking sector is set to see a flurry of deals next year, according to Ernst & Young LLP.
Transactions will be fueled by easing regulations and the U.S. tax overhaul, which has helped lenders build up a war chest to spend on acquisitions and technology, the financial advisory firm said Tuesday in a report. The value of mergers and acquisitions in the U.S. financial-services sector more than doubled to $196.5 billion this year from $82.3 billion in 2017, according to EY’s analysis.