Life after Permata: What's next for Singapore banks in their M&A strategy?

Singapore

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.