PwC Malaysia partner Soo Hoo Khoon Yean said the banking industry would continue to be "the main thrust" for M&A activities steered by larger banking groups that have the infrastructure to support expansion and already having a host of branches overseas.
"For example Maybank (MALAYAN BANKING BHD) and CIMB Group, they are the ones that have relatively more experience in dealing with regional offices," he told a media briefing Wednesday, June 21, in conjunction with the unveiling of its fifth Asian Financial Services M&A survey entitled "What lies on the horizon? New Players - New Rules - New Opportunities".
"Homegrown institutions are furiously building significant region-wide platforms to seize opportunities in the broader Asia Pacific market and to compete against established global players," Soo Hoo added.
The PwC report in collaboration with IDC Financial Insights Asia/Pacific has Maybank and CIMB Group in its list of top Asian "super-regionals".
The other banks include Australia New Zealand Banking Group Ltd (ANZ), OCBC Bank, DBS Bank, Commonwealth Bank of Australia, United Overseas Bank (UOB) and Sumitomo Mitsui Banking Corp.
Partners Soo Hoo (right) and Nair at the media briefing