Financial services mergers and acquisitions (M&As) in Asia will be more active this year as most of the Chinese financial institutions are exploring opportunities to expand their businesses, according to a PricewaterhouseCoopers (PwC) report.

The report is based on a survey of 215 senior financial services executives, of which 20 percent come from the Chinese mainland and Hong Kong.

The survey found that 42 percent of respondents intend to make an acquisition this year, compared with 38 percent in 2008. Respondents from Taiwan and the Chinese mainland are the most likely to pursue M&A deals this year.