The European financial services industry announced a 3% year-on-year fall in M&A deals in 2023, with 641 deals across the region, compared to 661 deals in 2022, according to the latest EY financial services M&A analysis. The total disclosed deal value also fell; from €50.0bn in 2022 to €34.7bn in 2023, representing the lowest annual value recorded since 2013. Iulia Bratu, Partner, Head of Lead Advisory, EY Romania: “M&A activity in the Romanian Financial Services sector saw a strong year in 2023, recording 14 transactions, with disclosed-value deals accounting for 10.2% of the total market, at USD 490m. This represented a doubling of the transaction number and 210% increase in deal values and was a particularly positive performance from an historical perspective, supported by landmark transactions in the banking segment such as the sales of Alpha Bank and First Bank’s Romanian operations (USD 319m and USD 138m, respectively). Financial Services M&A within the local market is likely to continue its positive dynamics in 2024, with another milestone transaction such as Banca Transilvania’s acquisition of Hungarian lender OTP’s Romanian operations expected to be announced in the first part of the year.” Sector-specific M&A activity across Europe’s financial markets • The number of European insurance deals rose from 223 in 2022 to 240 in 2023, but the total publicly disclosed deal value halved year-on-year, falling from €18.8bn in 2022 to €9.4bn in 2023. • The number of deals in the European wealth and asset management industry in 2023 was on par with the 206 in 2022. However, again, the total publicly disclosed deal value decreased year-on-year; from €6.6bn in 2022 to €4.9bn in 2023. • In the European banking sector, there were 195 deals in 2023, down from 232 in 2022, with the total publicly disclosed deal value also decreasing year-on-year from €24.6bn to €20.4bn. The number of non-European firms acquiring European targets was down from 96 in 2022 to 81 in 2023, and the total disclosed deal value fell from €18.5bn in 2022 to €17.1bn year-on-year. European firms acquiring targets from other markets fell from 62 in 2022 to 47 in 2023, with total disclosed deal value decreasing from €7.0bn to €2.9bn year-on-year.
Romania has become the EU country with the highest unemployment rate among young people under 25 (26.3%), according to official Eurostat data published in December 2024 and analyzed by the Social Monitor, a project of the Friedrich Ebert Foundation Romania. Thus, Romania surpassed states such as Spain and Greece, where youth unemployment has always been […]
In its half-year report for the second half of 2024, TikTok said it blocked 33,000 spam accounts in Romania and nearly 100,000 fake accounts. It highlighted its intense activity in blocking fraudulent activity related to Romania, particularly during the electoral campaign, indirectly admitting the...
Moldovan president Maia Sandu has acknowledged that some local entrepreneurs are transferring capital to Romania due to its stability as a European Union and NATO member state. Speaking about the country's economic stagnation in 2024, when GDP grew by only 0.1%, and the technical recession in the second half of the year, Sandu highlighted concerns […]
Battery Energy Storage Systems (BESS) are set to become a central component of Romania's power system, according to Oxford-based Aurora Energy Research, whose analysts see investments in Romania's BESS totaling several gigawatts of capacity and several billion euros over the next decade. Aurora pointed to both the opportunities and the risks and uncertainties associated with […]
Romania’s insurance market grew by 11% year-on-year in 2024, reaching a total gross written premium volume of RON 23.4bn (EUR 4.7bn), according to a report published on 1 April by the Financial Supervisory Authority (ASF). General insurance accounted for 81% of total underwritings, while life insurance represented 19%. The total value of insurance premiums for […]
Romania’s authorities are reportedly negotiating with Turkish company Desan Shipyard, which is pondering the option of taking over the activity of Damen Shipyards Mangalia, abandoned last year by its 49% strategic shareholder Damen and currently under insolvency, according to
