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Laxman Pai, Opalesque Asia:

The number of financial sector M&A deals announced in Asia-Pacific more than tripled to 255 in 2020, S&P Global Market Intelligence data show.

"The Asia-Pacific will likely remain an active place for mergers and acquisitions in the financial sector in 2021, thanks to its stronger post-pandemic recovery, opening markets, and a growing pool of fintech startups hungry for funding," said S&P quoting experts.

Greater China, which includes Hong Kong, Taiwan, and Macao, accounted for more than a third of the total deal count and remained as the top destination for M&A deals in the region, said the report.

While most of the buyers were based in the Asia-Pacific, investors from the U.S. and Europe announced 17 deals in 2020, more than double the seven in 2019, the data showed.

M&A activity broadly picked up across the globe in the second half of 2020 as market confidence started improving with progress in developing COVID-19 vaccines. But global investors are increasingly looking at China, South and Southeast Asia for superior returns and better growth opportunities.

China was the first major global economy to recover from the pandemic and many other countries in the region are expected to bounce back this year. India's economy is expected to strongly rebound from its first recorded recession and data from Southeast Asia point to a recovery taking hold.

According to the report, the key trends in the Asian market would includ......................

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