After a record-setting year in 2019, M&A activity in terms of both deal volume and deal value across each of the ASPAC markets experienced a steep decline in 2020 due to the COVID-19 pandemic which also impacted M&A globally. As economies started showing signs of recovery globally in 2021, deal activity across all ASPAC markets were turbocharged in the nine months ending 30 September 2021 (YTD Q3’21) as compared to 2020 and many of the years preceding.
M&A growth was particularly observed in the Fintech space which reached a record USD58bn in terms of announced deal value during YTD Q3’21 as well as some high-profile banking and insurance transactions.
Deal activity in Singapore experienced an uptick YTD Q3’21 underpinned by fintech/payments deals. Key drivers include local companies looking to strengthen digital capabilities to cater to consumers and businesses that are turning to digital payments or transfers during the pandemic; PEs and VCs investing in fintechs for future growth and strong returns while continued support from the Monetary Authority of Singapore is encouraging greater innovation and deal activity.
This report seeks to draw out key thematics, trends and historical deal statistics across various financial services sub-sectors including Banking, Asset management, Insurance, Fintech and Financing & Leasing in the key markets in ASPAC.