Credit Suisse Open to Consolidation M&A Deals
(12 November 2020 – Europe) Credit Suisse’s CEO, Thomas Gottstein, has said that the bank will consider Mergers and Acquisition (M&A) consolidation opportunities off the back of negative interest rates and ‘overbanking’ in Europe.
Internal discussion with executive heads across the continent has led the bank to priorities domestic deals ahead of cross-border transactions. While domestic mergers pose as lucrative opportunities within Europe, the lack of common deposit plans and banking unions can make M&A deals between financial firms a disadvantage.
Beyond consolidation, the bank plans to boost growth by employing more relationship managers which will ultimately require more investment.
“During this time of uncertainty large global banks are looking for all available opportunities that will boost market share growth. Many are planning to acquire smaller banks and financial firms to broaden their business in domestic markets” commented East & Partners Markets Analyst, Pierre Sokoya.
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