Deals analysis

Deals relating to AI increased significantly in the private banking industry in H1 2022

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Deals relating to AI in the private banking sector have seen an increase of 61.1% from H1 2021 to H1 2022, an analysis of GlobalData's deals database reveals.

In the first half of 2022 the number of deals relating to AI in private banking increased significantly by 61.1% from the same period in 2021.

This marks an acceleration in growth from the 42.9% increase in deals that occurred in H2 2021 relative to the same period a year earlier.

GlobalData’s deals database looks at mergers, acquisitions and venture capital and private equity investments taking place daily between thousands of companies across the world.

During first half of 2022, deals relating to AI accounted for 6.5% of all deals taking place in the sector. This represents an increase from the figure of 3% in the first half of 2021.

GlobalData's thematic approach to sector activity seeks to group key company information on investments to see which industries are best placed to deal with any issues they may encounter.

These themes, of which AI is one, are best thought of as "any issue that keeps a CEO awake at night", and by tracking them, it becomes possible to ascertain which companies are leading the way on specific issues and which ones have some work to do.

Notable M&A deals in the fintech and digital banking themes in Q2 2022

Bolt Financial acquires Wyre

Deal Size - $1.5bn

Bolt Financial is an online payment platform designed to drive ecommerce businesses. The acquisition of Wyre, provider of a blockchain-enabled payment platform, will make Bolt the dominant checkout service and identity layer for crypto, NFTs, and the wide range of digital assets to come.

GIC; Insight Venture Management; Smash Capital acquires Coda Payments (minority stake)

Deal Size - $690m

Coda Payments is a Singapore-based provider of online mobile payment solutions. Coda Payments intends to use the proceeds to fuel growth plans.

Barclays acquires Kensington Mortgages Company

Deal Size - $2.8bn

The acquisition of Kensington Mortgages Company will enable Barclays to broaden its product offering and capabilities in the UK mortgage market, extend the number of its customers, and grow mortgage originations to better utilize its UK funding base.

Abu Dhabi Developmental acquires Commercial International Bank (Egypt)

Deal Size - $911.4m

Abu Dhabi Developmental Holding is a UAE-based investment company. The acquisition of a stake in Commercial International Bank Egypt SAE, an Egypt-based bank offering financial products and services, will expand its reach.