The current environment is highlighting the value of scale and should encourage more bank M&A activity, including larger transactions, according to KBW CEO Tom Michaud.
The downturn in 2020 has weighed on bank M&A activity, on pace to drop 57% from year-ago levels. Lower bank valuations certainly have not helped stoke more deal activity, but Michaud said recessions are never a good time for healthy bank M&A given concerns about credit quality
Street Talk – Episode 72: Desire to compete with megabanks driving more US regional bank M&A – KBW CEO
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