Has the US bank consolidation wave begun?

The Story of Money

Manuela Saragosa

Business, Crypto, Markets, Finance, Banking, Investing, History, News

4.4 • 400 Ratings

🗓️ 12 February 2019

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two mid-sized American banks are joining forces in a $66bn merger - BB&T and Suntrust. It is the biggest US bank deal since the financial crisis, and analysts say the deal will up the ante on rival banks to consolidate. The FT's Robert Armstrong and James Fontanella Khan dig into the details of the deal, and what it means for the broader industry.

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	Aye and take action today.
0:31.6	In the years since the financial crisis, banks and other financial firms have been pretty loath to strike new deals.
0:38.0	If you're running a bank, you just spent the years after 2007 trying to survive rather than contemplating a deal.
0:45.1	At least that was the case until last week.
0:49.3	A 66 billion dollar transaction, the largest banking transaction, probably in the last decade.
0:55.3	BB and T and SunTrust just announcing they will combine an merger of equals.
0:59.3	And now analysts and bank executives are trying to figure out who's going to be next to join forces.
1:05.0	This is behind the Money with the Financial Times.
1:07.0	I'm Amy Keene.
1:08.0	This week on the show, we dig into the 66 billion dollar BB&T SunTrust deal and find out what it means for banking in America.
	...

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