U.S. bank divestitures hit a 10-year low in 2013, according to a new report by Dealogic.
They totaled $10.4 billion between Jan. 1 and Nov. 19, down 72% from the same period a year earlier. That's the lowest amount since $8.2 billion in 2003.
The decrease was largely driven by a falloff in sales of banking units, branches and other core items to a year-to-date low of $879 million; they accounted for just 8% of total U.S. bank divestitures. By comparison, sales of core assets averaged 29% of U.S. divestitures over the last 10 years.
Sales of nonbank business lines also fell. They were down 73% year over year, to $9.5 billion.
The global trend was similar. There were 581 deals worth $86 billion worldwide this year, the lowest dollar volume since the same period in 2004 and down 17% from the same period last year.
Global acquisitions which include divestitures and whole banks have also fallen in 2013, dropping 15% year over year to $120 billion. The report noted that 927 bank acquisitions have been announced worldwide so far in 2013, the lowest level since 1997.