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Banking Mergers and Acquisitions’ Performance in Europe

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Frontiers of Banks in a Global Economy

Abstract

The European banking sector has experienced a rapid process of mergers and acquisitions (M&A) during the 1990s.1 The deregulation of banking activities, the progress made towards the completion of an integrated European financial market, financial globalization, technological and financial innovations, the imperative of value creation and the introduction of the euro are some of the principal forces that fuelled the process of banking consolidation. Today, it seems that (M&A) activity has picked up with various domestic and cross-border deals in the banking industry.2 Indeed, faced with increased risks, uncertainty and enhanced competition, banking institutions must adopt the most economic strategic means to cut their costs and enhance their revenues. Moreover, the adoption of most measures under the Financial Services Action Plan (FSAP) and the European Commission’s White Paper on financial services policy (2005–10) towards complete integration of European financial markets will act as a real impetus to accelerate banking consolidation in the coming years.

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Authors and Affiliations

  1. Centre for European Policy Studies (CEPS) Brussels, Belgium

    Rym Ayadi (Research Fellow and Head of Financial Institutions Research Programme)

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  1. University of Wales, Bangor, UK

    Philip Molyneux (Professor of Banking and Finance) (Professor of Banking and Finance)

  2. University of Valladolid, Spain

    Eleuterio Vallelado (Vice Chancellor for Stragetic Planning and Professor of Finance) (Vice Chancellor for Stragetic Planning and Professor of Finance)

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Ayadi, R. (2008). Banking Mergers and Acquisitions’ Performance in Europe. In: Molyneux, P., Vallelado, E. (eds) Frontiers of Banks in a Global Economy. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230590663_2

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