The Southeast Asian M&A market saw an increase in volume in 2025, according to a recent EY financial services M&A analysis.
Fifty-eight publicly disclosed deals in the financial services sector in 2025, up from 48 deals in the year prior. However, total disclosed deal value dropped year over year to US$2.1 billion from US$4.2 billion.
EY observes that banks, insurers, and asset managers across the world’s major financial services markets publicly disclosed 2,236 deals in 2025 – up slightly from 2,219 deals in 2024.
In Asian and Oceanian markets, M&A activity saw a 0.8% year-on-year rise in the number of publicly disclosed deals, totaling 360 deals compared with 357 in 2024. Despite this, total disclosed deal value rose to US$65.5 billion in 2025 from US$40.4 billion in the year prior.
Key findings for the Southeast Asian region include:
- Banking deals rose from 32 in 2024 to 35 in 2025, while total disclosed deal value declined year over year to US$1.2 billion from from US$2.3 billion.
- Insurance deals decreased slightly to 11 in 2025 from 12 in 2024, and total disclosed deal value also fell year over year to US$800 million from US$1.6 billion.
- Wealth and asset management deals rose to 12 in 2025 from four in 2024, but total disclosed deal value declined to US$28 million in 2025 from US$300 million in 2024.
