Life after Permata: What's next for Singapore banks in their M&A strategy?
Priority for Big Three will be on current lines of business in regions where they already have a foothold, instead of venturing into new areas: analysts
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SINGAPORE'S Big Three banks are likely to persist in their quest for growth in the coming year through potential mergers and acquisitions (M&A), even as OCBC and DBS recently bowed out of the race for Indonesian lender Permata after much fanfare.
Analysts tell The Business Times that the M&A priority for the local banks will be on current lines of business in regions where they already have a foothold, instead of venturing into new areas amid a weaker macro backdrop and slowing growth.
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