The total value of announced or completed M&A transactions in the global financial services sector in 2025 rose 49% year-on-year (YoY), boosted by a significant annual increase in the number of deals over USD 1 billion, according to latest EY financial services M&A analysis. Banks, insurers and asset managers across the world’s major financial services markets publicly disclosed 2,236 deals in 2025 – up slightly from 2,219 deals in 2024, which at the time was a 10-year peak. Total disclosed