10 Top Banks in Europe and Assets

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admin August 11, 2023
Updated 2023/08/11 at 3:29 PM
Top Banks in Europe

Whether you are a resident or traveling to Europe, knowing the top banks in Europe will come in handy when choosing the best place to keep your money.

Knowing the leading banks in Europe will provide you access to a wide range of banking options on the stunning continent of Europe.

In this article, we will provide in-depth information on a few of Europe’s leading banks. We will make our ranking by taking into consideration a few factors such as the total net worth, assets, and the number of branches all over the world.

This already promises to be an exciting journey, follow us as we walk you through the various top banks in Europe.

About Top Banks In Europe

When visiting the top banks in Europe, which are ranked according to their total assets, we’d like to see their balances, cash, advances, and customer loans. It also includes microscale banks and all of their different debt securities.

Little do we realize leading economies like the UK, Germany, and France have produced some of the finest banks in Europe.

Three banks from the United Kingdom are listed among the top 10 banks in Europe. France has four of the top 10 banks, and Germany has one out of them. One bank from Spain and one from the Netherlands are among the top ten banks in Europe.

S&P Global Market Intelligence provides resource data regarding the top-ranking bank when looking at the main bank. With a current total asset value of 2,521.77 billion USD, it shows HSBC’s continued dominance as the top bank in Europe.

But in 2021, it intensified its transformation plan to pivot to Asia, and by the end of the year, it had assets totaling €2,597 billion.

Hongkong and Shanghai Banking Corporation Limited (HSBC) appears to be leaving retail banking in the US and France. Hereby wanting to invest about $6 billion in the US and France over five years to examine the potential return on its total net worth.

Seeing how to maintain its position as the top bank in Europe. Spain’s Banco Bilbao Vizcaya Argentaria SA, completed the $11.60 billion sale of its U.S. operation to The PNC Financial Services Group Inc.

And in mid-2021, it became another European lender that decided to leave the U.S. retail banking market in the face of fierce competition.

Contrarily, Banco Santander SA, which has experienced a consistent increase in U.S. revenue in recent years, has increased its visibility inside the division Santander Consumer USA Holdings Inc.

It’s interesting to note that the Spanish lender also anchored its 2022 financial goals on expectations that it would maintain high profitability inside the Americas.  However, Santander, which has €1.596 trillion in real estate, fell one spot in the asset rating to place fifth.

List of Top 10 Banks in Europe

Below shows the lists of the top banks in Europe ranking from the top ten according to their total assets and location:

Hongkong and Shanghai Banking Corporation Limited (HSBC)

The Hongkong and Shanghai Banking Corporation has its head office in London, the United Kingdom with its total assets estimated at €2,100 billion. It was created as a new group holding company in 1991.

HSBC became a multinational investment bank and financial services holding firm, where it got its name as one of the leading banks With around 38 million customers.

In 65 countries, HSBC has 3,900 offices showing massive interest to expand and maintain its position as the top-ranked bank in Europe.

BNP Paribas

BNP Paribas is headquartered in Paris, France, and has £1,700 billion in total assets. Banque Nationale de Paris (BNP) and Paribas merged to bring about the establishment of BNP Paribas in 2000.

The company’s corporate identity dates back to the French national bank’s founding in 1848.  This French global banking firm, which operates in 72 countries across five continents, is the second biggest in Europe.

It was well-known for receiving the largest-ever fine in 2014 as restitution for breaking U.S. sanctions. Yet it is still a giant in the market and one of the top 10 banks in the world.

The Financial Stability Board has recently regarded the organization as a bank with systemic importance.

Crédit Agricole

Crédit Agricole Group pops up to be the world’s largest cooperative financial institution. With its main office in France and $1,763 billion in total assets, Crédit Agricole is ranked third among the top banks in Europe.

Comprising the Crédit Agricole Regional Banks, the 39 Crédit Agricole Regional Banks which include a network of central institutions and Crédit Agricole S.A.

The bank has a Total Asset of £2,380.38 billion with its headquarters located in Paris, France.

Deutsche Bank

Surprisingly, Deutsche Bank was Founded in 1870. And has made its way as a multinational investment banking and financial services company that has a network spanning 58 countries.

With its headquarters in Germany and total assets of £1,470 billion, Deutsche Bank finds its place among the top-rank banks in Europe.

Deutsche Bank is a universal bank with four main divisions: Investment Bank, Corporate Bank, Private Bank, and Asset Management.  The bank has a total net worth of £1,408 billion, with its headquarters office located in Frankfurt, Germany.

Banco Santander

Banco Santander, S.A., comes on top rank as Spain’s largest bank, which trades under the name Santander Group.

Banco Santander is a multinational financial services company, especially best known for its banking operations throughout Europe. With its headquarters in Spain, its total assets stand at £1,446 billion.

Like many large banks on the top banks in Europe, Banco Santander has been classified as a systemically important bank by the Financial Stability Board.

Barclays

Barclays has its headquarters in the United Kingdom and total assets of £1275 billion. It traces its roots to a goldsmith’s banking business founded in the City of London in 1690 and acquired its current name in 1736 when James Barclay became a partner in the company.

The company operates through its two divisions, Barclays UK and Barclays International, supported by the services company Barclays Execution Services.

In subsequent years Barclays was classified as a systemically important bank by the Financial Stability Board after showing its relevance to the country’s economy.

Société Générale

Société Générale is a multinational investment bank and financial services company that ranks as the third largest bank in France by total assets.  It has its headquarters in France and has a total of £1,275 billion in assets.

The company is a universal bank with divisions supporting French networks and global transaction banking, including international retail banking and financial services.

Groupe BPCE

Groupe BPCE, with its headquarters in France, has £1.259 trillion in assets. It’s interesting to know that Groupe BPCE has more than 8,200 branches nationwide, and around 40 million customers.

Groupe BPCE was Founded in 2009 through the merging of CCE (Caisse national des caisses d’épargne) and the BFBP (Banquefédéraledes banques populaires).

The French banking group has been classified as a systemically important bank by the Financial Stability Board. They offer a large customer base with a wide range of deposits, loans, bank account products, etc.

Lloyds Banking Group

The Lloyds Banking Group is based in the United Kingdom and has £914 billion in assets. The group’s legacy spans 320 years and dates back to the establishment of the Bank of Scotland by the Scottish Parliament in 1695.

It was founded in 2009 through the acquisition of HBOS by Lloyds TSB and has 30 million customers and 65,000 employees.  The company operates under several brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows.

Its office headquarters is in Edinburgh, Scotland which operates basically on the legal issues of the bank.

ING Group

ING is one of the 10 largest European companies by turnover. It is a Dutch member of the Inter-Alpha Group of Banks, a joint consortium of 11 major European banks.

ING Group is a Dutch multinational banking and financial services company and has its head office in Amsterdam.

It has its global headquarters in the Netherlands and a total asset base of £846 billion. This ranks it among the top 10 banks in Europe.

The group’s main businesses are retail banking, direct banking, merchant banking, investment banking, wealth management, and insurance services.

In 2020, ING had 53.2 million customers in over 40 countries.

The company is included in the Euro Stoxx 50 stock market index and as of December 2019, the company’s long-term debt amounted to €150 billion.

Conclusion

The top banks in Europe are ranked using metrics like their total assets, several customers, or the total market value in dollars of a company’s or bank’s outstanding shares.

Aside from using the bank’s total funds available, other ranking criteria include the number of branches, the number of customers, and market capitalization. This is calculated from the current market price of available stock and the number of outstanding shares of the company.

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