HSBC Holdings Plc continued its reign as the largest bank in Europe by assets for the fourth year running, despite losing its place among the top 5 global banks, according to S&P Global Market Intelligence.
The London-based bank held €2.178 trillion in pro forma assets as of April 15, making it the only European bank with more than €2 trillion in assets.
HSBC's assets were adjusted downward by €40.67 billion to account for the pending sale of HSBC Bank Brasil SA - Banco Múltiplo to Banco Bradesco SA.
In the latest ranking, company metrics were adjusted for pending mergers, acquisitions and divestitures, as well as M&A deals that closed after the end of the reporting period through April 15. Assets reported by non-euro filers were converted to euros using period-end exchange rates. The majority of the banks were ranked by total assets as of Dec. 31, 2015. In the previous ranking published June 29, 2015, most company assets were as of March 31, 2015, and adjusted for deals through June 10, 2015.
BNP Paribas SA maintained its runner-up position in the latest ranking, reporting €1.994 trillion in assets, down from €2.392 trillion in the previous ranking, a decline of 16.64%. Among the top five largest banks, the only change from the previous ranking is Crédit Agricole SA switched positions with Barclays Plc. Barclays fell to No. 5, while Crédit Agricole rose to No. 3.
Italy's Banco Popolare Società Cooperativa was the only new entry in the top 50 list, thanks to the company's pending merger of equals with Banca Popolare di Milano Scarl, which will add €50.20 billion in assets.
Germany has seven banks among the top 50, while France, Spain and the U.K. are each home to six.
Source: S&P Global Market Intelligence