Goldman management has put a high bar for any deal to be large and transformational, the sources cautioned. One of the sources said the bank had M&A bankers crunching numbers on ‘different ideas’. Digital banking is one area of interest. The pandemic has strengthened management’s belief that online activity will be central to future growth within the industry and branches will continue to have a diminished role, the source said, according to Reuters.
As a result, executives are ruling out any deals that involve acquiring branches. Digital businesses that bring in new customers or unique technologies would be attractive to the bank, the source said. When inquired by Reuters, Goldman Sachs declined to comment.
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