These are the eurozone’s next big bank mergers

Stock market ups and downs over the last two years reveal a new line-up of possible big bank buyers in the eurozone. If they wait for balance sheet clean-ups and government sell-downs, they may have to up their bids.

M&A is the most radical of a chief executive’s choices. A strategic control graph – with bigger and higher-valued institutions to the top and right and smaller and cheaper institutions to the bottom left – shows the eurozone’s most likely deals. 

I last plotted a graph like this in 2015. A lot has happened since, so it is worth seeing how market gyrations have moved positions. It shows which big banks could get bigger and which could disappear.

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