July 2 (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 John
Stonestreet)
