Total financial services industry cross border deals worth $6.7bn were announced globally for November 2021, with the $2.57bn acquisition of Garanti BBVA being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 52.9% over the previous month of $14.28bn and a drop of 45.5% when compared with the last 12-month average of $12.33bn.

In terms of number of cross border deals, the sector saw a drop of 23.93% with 89 deals in November 2021 when compared to the last 12-month average of 117 deals.

In value terms, Europe led the activity with cross border deals worth $4.37bn in November 2021.

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financial services industry cross border deals in November 2021: Top deals

The top five cross border deals accounted for 72.9% of the overall value during November 2021.

The combined value of the top five cross border deals stood at $4.89bn, against the overall value of $6.7bn recorded for the month.

The top five financial services industry cross border deals of November 2021 tracked by GlobalData were:

1) BBVA $2.57bn acquisition deal for 50.2% stake in Garanti BBVA

2) The $900m acquisition of 10% stake in Odyssey Group Holdings by CPPIB Credit Investments and Omers

3) EQT $550.48m acquisition deal for 10% stake in LSP Management Group

4) The $521.51m acquisition of Life Sciences Partners by EQT

5) Koc Holding $347.18m acquisition of 20% stake in Yapi ve Kredi Bankasi