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ME 2012 banking M&A transactions hit USD7b

22 Apr 2013

(MENAFN) Global consulting firm PwC said in a recent study that deal values of banking mergers and acquisitions (M&A) in the Middle East grew to around USD7 billion last year from USD1.5 billion in 2011, reported Gulf News.

PwC attributed the notable increase to high oil prices and the related flow of money through the region’s economy that allowed banks in some parts of the Middle East to sustain high levels of liquidity.

Furthermore, the region’s 6 banking M&A transactions that took place in 2012 comprised multiple landmark overseas investments by Gulf based banks, mainly in Egypt.

It is worth noting that in the first quarter, the region’s M&A activity fell by 10 percent to USD5.1 billion from USD5.7 billion in the same period a year before.

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