UK financial services M&A value doubles to £38bn

Driven by resurgence in deals worth more than £1bn

Isabel Baxter
clock • 2 min read

Total disclosed deal value in the UK financial services sector rose from £19.7bn in 2024 to £38.0bn in 2025, driven by a notable rise in deals worth more than £1bn.

EY's latest financial services mergers and acquisitions (M&A) analysis showed that UK banks, insurers and asset managers disclosed 337 deals between January and the end of December 2025. This is down from the record high of 378 in 2024. Over the same period, the total value of announced or completed transactions rose by 93%, with 12 transactions exceeding £1bn, and high-value activity across all sectors. For deals in UK wealth and asset management industry, numbers remained flat at 122 in 2024 and 2025. Overall disclosed deal value fell slightly from £8.8bn in 2024 to £8.7bn in 2025,...

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