HSBC drops out of global top 5 but remains top in Europe

HSBC towerHSBC has maintained its position as Europe’s largest bank by assets for the fourth year running, despite losing its place among the top five global banks, according to new figures.

S&P Global Market Intelligence’s latest banking report indicates HSBC held €2.178 trillion in pro forma assets as of April 15, making it the only European bank with over €2 trillion in assets.

However, HSBC’s assets were adjusted downward by €40.67 billion due to the bank’s pending sale of its Brazilian division, Banco Múltiplo, to Banco Bradesco.

BNP Paribas remained in second place, with assets of €1.994 trillion, although this represents a 16.64% fall from its previous standing of €2.392 trillion.

Among the top five largest banks, the only change in ranking is Crédit Agricole, which switched positions with Barclays. Barclays fell to fifth place, with Crédit Agricole rising to third.

Italy's Banco Popolare Società Cooperativa was the only entirely new entry in the top 50, due to the company's pending merger with Banca Popolare di Milano Scarl, which will add assets of €50.20 billion to its current total.

On a country-specific level, German banks feature most prominently in the top 50, with seven entrants; France, Spain and the UK contribute six each.

Most banks were ranked by total assets as of December 31, 2015, although company metrics were adjusted for pending mergers, acquisitions and divestitures that closed prior to April 15 this year.

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