Hungry ING looks for its next meal
US banks dare to cross cultures
Last year there was a huge leap in mergers and acquisitions within the European financial sector. The total value of deals was $107.4 billion, compared with $48.6 billion in 1996 and $46.9 billion in 1995 (according to figures from AMDATA). Last year, roughly one-third of all European M&A deals were in the financial sector. They encompassed financially-driven mergers within domestic markets designed to cut costs; more strategic cross-border deals, as banks with large shares in their own domestic markets sought to expand across Europe; and a growing number of deals between banks and insurance companies.
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