FACTBOX-U.S., European bank writedowns, credit losses

Thu Jun 25, 2009 7:16am EDT
 
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 June 25 (Reuters) - Top U.S. and European banks have lost
more than $900 billion on toxic assets and from bad loans since
the start of 2007.
 Losses by banks between 2007 and 2010 are expected to reach
almost $2.5 trillion, roughly split between losses on securities
and loans, according to International Monetary Fund forecasts.
U.S. banks will take a $1.6 trillion hit and European bank
losses will reach $737 billion, the IMF said.
 Below is a list of estimated losses suffered by top U.S. and
European banks since 2007 (in billions of U.S. dollars at
current exchange rates):
 BANK                          2007     2008   2009 YTD    TOTAL
 Citigroup (C.N)               29.1     63.4     11.9     $104.4
 Wachovia Corp*                 4.0     73.4               $77.4
 Merrill Lynch**               25.1     38.6               $63.7
 HSBC (HSBA.L)                 19.3     30.3      4.8      $54.4
 UBS (UBSN.VX)                          50.6      3.6      $54.2
 Bank of America (BAC.N)       12.1     29.2      6.9      $48.2
 Washington Mutual***           5.1     36.7               $41.8
 Fannie Mae (FNM.N)             4.7     26.9      7.2      $38.8
 Royal Bk Scotland (RBS.L)      7.0     23.5      8.0      $38.5
 Freddie Mac (FRE.N)            5.2     24.4      7.1      $36.7
 Lloyds (LLOY.L) &              6.8     28.9               $35.7
 Barclays (BARC.L)              7.0     16.5      7.2      $30.7
 Lehman Brothers****           12.5     14.0               $26.5
 Morgan Stanley (MS.N)         10.3     10.1      0.8      $21.2
 Commerzbank/Dresdner (CBKG.DE) 3.9     13.3      2.8      $20.0
 JPMorgan Chase (JPM.N)         4.5     10.2      4.4      $19.1
 Deutsche Bank (DBKGn.DE)       4.0     11.2      2.8      $18.0
 Credit Suisse (CSGN.VX)        3.5     11.9      1.5      $16.9
 Santander (SAN.MC)             4.8      8.3      3.1      $16.2
 IKB &&                                                    $14.7
 National City*****                                        $14.0
 BNP Paribas (BNPP.PA)+         2.4      8.0      2.5      $12.9
 Wells Fargo (WFC.N)            3.5      8.7      0.5      $12.7
 Unicredit (CRDI.MI)            3.5      5.1      2.4      $11.0
 ING (ING.AS)                            7.1      2.4       $9.5
 Bayern LB                      1.1      8.0                $9.1
 C.Agricole (CAGR.PA)+          2.7      4.4      1.5       $8.6
 BBVA (BBVA.MC)                 2.7      4.2      1.3       $8.1
 Intesa Sanpaulo (ISP.MI)       1.6      4.5      1.0       $7.1
 Societe Gen (SOGN.PA)+         1.3      3.7      1.9       $6.9
 Goldman Sachs (GS.N)           1.7      4.9                $6.6
 Canadian Imp Bk Commerce (CM.TO)                           $6.5
 Natixis (CNAT.PA)+             2.0      2.5      1.3       $5.8
 Erste Bank (ERST.VI)           0.8      2.5      0.7       $4.0
 Bear Stearns******             3.0      0.6                $3.6
 Fortis                                                     $3.1
 WestLB                                                     $3.0
 Standard Chartered (STAN.L)    0.8      1.8                $2.6
 Rabobank                       0.8      1.7                $2.5
 ===============================================================
 Total                                                    $914.7
 
 (Sources: Reuters/annual reports/company filings)
 
 Estimates based on writedowns and losses from subprime
securities, mortgages, CDOs, derivatives and SIVs, and credit
losses and loan loss provisions.
 NOTES:
 *      Acquired by Wells Fargo at the end of last year.
 **     Acquired by Bank of America on Jan 1.
 ***    Assets acquired by JPMorgan in September.
 ****   Filed for bankruptcy in September.
 *****  Bought by PNC Financial Services Group in December.
 ****** Bought by JPMorgan in March 2008.
 &      Includes HBOS, taken over by Lloyds in January.
 &&     Bought by Lone Star in August after state-led
bailouts.
 +      France bank estimates based on 'cost of risk'.
 
 (Compiled by Steve Slater and Elinor Comlay; Editing by David
Holmes)

 

Companies In This Article

Citigroup Inc. (C.N) Quote, Profile, Research
HSBC Holdings PLC (HSBA.L) Quote, Profile, Research
UBS AG (UBSN.VX) Quote, Profile, Research
Bank of America Corporation (BAC.N) Quote, Profile, Research
Federal National Mortgage Association (FNM.N) Quote, Profile, Research
Royal Bank of Scotland Group PLC (RBS.L) Quote, Profile, Research
Freddie Mac (FRE.N) Quote, Profile, Research
Lloyds Banking Group PLC (LLOY.L) Quote, Profile, Research
Barclays PLC (BARC.L) Quote, Profile, Research
Morgan Stanley (MS.N) Quote, Profile, Research
COMMERZBANK AG (CBKG.DE) Quote, Profile, Research
JPMorgan Chase & Co (JPM.N) Quote, Profile, Research
Deutsche Bank AG (DBKGn.DE) Quote, Profile, Research
Credit Suisse Group (CSGN.VX) Quote, Profile, Research
Banco Santander, S.A. (SAN.MC) Quote, Profile, Research
BNP Paribas S.A. (BNPP.PA) Quote, Profile, Research
Wells Fargo & Company (WFC.N) Quote, Profile, Research
Unicredit S.p.A. (CRDI.MI) Quote, Profile, Research
ING Groep N.V. (ING.AS) Quote, Profile, Research
Credit Agricole S.A. (CAGR.PA) Quote, Profile, Research
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA.MC) Quote, Profile, Research
Intesa SanPaolo S.p.A. (ISP.MI) Quote, Profile, Research
Societe Generale (SOGN.PA) Quote, Profile, Research
The Goldman Sachs Group, Inc. (GS.N) Quote, Profile, Research
Canadian Imperial Bank of Commerce (CM.TO) Quote, Profile, Research
Natixis S.A. (CNAT.PA) Quote, Profile, Research
Erste Group Bank AG (ERST.VI) Quote, Profile, Research
Standard Chartered PLC (STAN.L) Quote, Profile, Research

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