A huge market of the banking industry lies in Europe - we take a look at the ten largest banks in that region.
10. Lloyds Banking Group
Formed through the acquisition of HBOS by Lloyds TSB in 2009, Lloyds Banking Group has 30 million customers and 65,000 employees. The business operates under several brands - these include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.
The Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695.
Total assets (billions of US$): $1,189.54
Headquarters: Edinburgh, Scotland (legal) and London, England (operations)
9. Intesa Sanpaolo
Formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, this Italian international banking group boasts approximately 14.6 million customers in Italy and 7.2 million customers in Eastern and Central Europe, the Middle East and North Africa through several brands such as CIB Bank, VÚB Banka and Bank of Alexandria.
Total assets (billions of US$): $1,226.44
Headquarters: Turin, Italy
8. Deutsche Bank
Founded in 1870, this multinational investment bank and financial services company has a network that spans 58 countries. It is a universal bank with four major divisions: Investment Bank, Corporate Bank, Private Bank and Asset Management.
Total assets (billions of US$): $1,621.11
Headquarters: Frankfurt, Germany
7. Groupe BPCE
With over 8,200 branches nationwide under their respective brand names and serving almost 40 million customers, this French banking group is considered a systemically important bank by the Financial Stability Board.
Formed by the 2009 merger of CNCE (Caisse nationale des caisses d'épargne) and BFBP (Banque fédérale des banques populaires), it provides various deposit, loan and bancassurance products and more to its large customer base.
Total assets (billions of US$): $1,768.51
Headquarters: Paris, France
6. Société Générale
This multinational investment bank and financial services company is France’s third largest bank by total assets. The company is a universal bank and has divisions supporting French Networks, Global Transaction Banking, International Retail Banking, Financial Services, Corporate and Investment Banking, Private Banking, Asset Management and Securities Services.
Total assets (billions of US$): $1,788.32
Headquarters: Paris, France
5. Barclays
Barclays traces its origins to the goldsmith banking business established in the City of London in 1690, then gaining its renowned name today when James Barclay became a partner in the business in 1736.
The company operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. It is considered a systemically important bank by the Financial Stability Board.
Total assets (billions of US$): $1,842.49
Headquarters: London, England
4. Banco Santander
Spain’s largest bank, Banco Santander, S.A., operates under the trade name of Santander Group. It is largely known for its banking operations, particularly across Europe, but is a multinational financial services company. Like many of the giants on this list, it is considered a systemically important bank by Financial Stability Board.
Total assets (billions of US$): $1,844.95
Headquarters: Santander, Spain (legal) and Madrid, Spain (operations)
3. Crédit Agricole
Crédit Agricole Group is the world’s largest cooperative financial institution, consisting of a network of Crédit Agricole local banks, the 39 Crédit Agricole regional banks, and a central institute, the Crédit Agricole S.A.
Total assets (billions of US$): $2,741.77
Headquarters: Paris, France
2. HSBC
This multinational investment bank and financial services holding company, deriving its name when it was established by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991.
HSBC has around 3,900 offices in 65 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, and around 38 million customers.
Total assets (billions of US$): $2,984.16
Headquarters: London, England
1. BNP Paribas
BNP Paribas was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000, although, its corporate identity descends from its foundation in 1848 as a French national bank.
This French multinational banking group is the largest in Europe, operating in 72 countries across five continents. It was also known for being fined the largest ever sum as reparation for violating U.S. sanctions in 2014, however it remains a titan in the market, being one of the ten largest banks worldwide. The company considered a systemically important bank by the Financial Stability Board.
Total assets (billions of US$): $3,080.55
Headquarters: Paris, France
Want to read more? Check out the brand new edition of FinTech Magazine here.
