Banks are financial institutions that have a central role in the global financial system. The role of banks is needed in facilitating the storage and circulation of money, providing loans, intermediary financial transactions, and providing financial services that support economic activity. Banks also play a role in creating money through the process of providing credit, which influences economic growth and financial stability.
In any part of the world, banks have an equally important role in supporting financial system stability, especially in Europe which is the largest financial center in the world. The role of European banks not only influences the local financial system, but even in other countries outside the continent. This is because some European banks are large banking institutions, some of which are even among the largest banks in the world.
So, in this article, we will discuss a list of the top 7 largest banks in Europe based on the total assets they own. Are you curious about the names that will be on the list? Then keep following the discussion!
Top 7 Largest Banks in Europe Based on Total Assets
1. HSBC Holdings PLC, UK
In first place is HSBC Holdings PLC with total assets reaching 2,680.72 billion Euros. HSBC Holdings PLC, or Hongkong and Shanghai Banking Corporation, is a multinational banking company based in the United Kingdom. Founded in 1865 in Hong Kong, HSBC has grown to become one of the largest banks in the world. Known for its global network, HSBC serves millions of customers in various countries with a variety of financial products and services, including retail banking, corporate banking, wealth management and investment banking services. HSBC also has a strong history in international trade and is involved in financing various global projects. As one of the world’s leading banks, HSBC is known for its commitment to diversity and sustainability and its important role in the global financial industry.
2. BNP Paribas SA, France
Then in second place is BNP Paribas SA with total assets reaching 2,666.38 billion Euros. BNP Paribas SA or often known as BNP Paribas, is one of the leading financial institutions in the world. This is a French bank that has a broad global coverage. BNP Paribas is known for operating in various segments, including retail banking, investment banking, asset management and corporate banking services.
BNP Paribas’ long history, dating back to the 19th century, has given it experience and a strong reputation across the financial services spectrum. The bank has a significant presence in Europe, North America and other regions around the world.
In addition, BNP Paribas is also known for its commitment to sustainability and corporate social responsibility. The bank has taken various initiatives to support environmental and social projects, reflecting its important role in supporting global sustainability.
3. Credit Agricol Group, France
In third place is still occupied by a bank from France, namely Credit Agricol Group, or usually known as Crédit Agricole with total assets reaching 2,379.12 billion euros. Crédit Agricole is a leading banking and financial services company originating from France. The group is one of the main players in the global financial sector and has a long history that dates back to 1894 with the founding of Crédit Agricole Mutuel. The group focuses on various aspects of finance, including retail banking, corporate and investment banking, asset management, and other financial services.
Crédit Agricole is one of Europe’s largest banks and has a strong presence in France. The group consists of a number of entities, including Crédit Agricole S.A. which focuses on corporate and investment banking, as well as a number of regional banks and related entities. Within the financial sector, Crédit Agricole is known for its strong commitment to sustainability and corporate social responsibility.
Apart from banking and financial services businesses, Credit Agricole Group is also involved in various social and sustainability initiatives, and supports various social and environmental programs. The group has a significant role in shaping the French and European economies, and plays a role in supporting economic growth through its various products and services.
4. Banco Santander SA, Spain
In 4th place is Banco Santander SA, Spain with total assets reaching 1,734.66 billion euros. Banco Santander SA was founded in 1857 and has experienced impressive growth since then. Today, it is one of the largest banks in Spain and is among the 30 largest banks worldwide by total assets. The Santander Group, as it is often called, operates thousands of branches in more than 40 countries around the world, making it one of the leading international financial institutions.
Santander is a multinational bank that has a significant presence in Europe, North America, South America and several other markets. They have more than 144 million customers worldwide and have built a broad network, spanning the retail banking, corporate banking, asset management and various other financial services sectors.
Banco Santander is renowned for its involvement in financial innovation and technology. They have invested substantially in fintech projects and have developed sophisticated digital banking services to enhance their customers’ experience.
The bank is also active in sustainability issues and aims to achieve carbon neutrality by 2020. They have committed to reducing their environmental impact and supporting sustainable projects.
5. Barclays PLC, UK
Next, in fifth place is Barclays PLC with total assets reaching 1,706.57 billion euros. Barclays PLC is one of the leading global financial institutions headquartered in London, England. Barclays is an international bank with a long history spanning a wide range of financial services, including retail banking, investment banking, wealth management and corporate banking services.
The company was founded in 1690 and has grown to become one of the largest banks in the world. Barclays is renowned for its innovations and contributions to the financial industry, including the introduction of the world’s first Automatic Teller Machine (ATM) in 1967.
Barclays has an extensive international network and provides services to millions of customers in various countries. They are involved in various areas of finance, including stock trading, investment banking, and financing of large projects.
In addition, Barclays is also committed to various social and sustainability initiatives, and supports many philanthropic programs. As a global bank, Barclays has a significant influence in the global economy and remains one of the major players in the banking and finance industry.
6. UBS Group AG, Switzerland
6th place is occupied by Swiss bank UBS Group AG with total assets reaching 1,571.05 billion euros. UBS Group AG is an international company that provides a range of premium financial services to its clients worldwide. Founded in 1862, UBS has a long history in the financial sector and has grown to become one of the world’s leading investment banks.
UBS offers a wide range of financial services including:
– Investment Banking: UBS has a strong investment banking division and provides merger and acquisition (M&A) services, stock trading, bonds, and a variety of other investment banking services.
– Financial Management: UBS offers wealth management and personal financial planning services tailored to clients’ needs.
– Retail Banking: Through subsidiaries such as UBS Wealth Management, UBS provides retail banking services including savings, loans and day-to-day banking services.
– Corporate Banking: UBS also serves companies and institutions with a range of corporate banking services, including cash management, corporate financing and advisory services.
UBS Group AG is a global bank with a presence in many countries around the world. They have branch offices and service centers in various major financial centers such as New York, London, Hong Kong, and Zurich.
UBS has earned a reputation as one of the world’s leading banks in the financial industry. They have received numerous awards and recognition for the quality of their services and contributions to the industry.
7. Groupe BPCE, France
Then in 7th place is Groupe BPCE which has total assets worth 1,531,113 billion euros. Groupe BPCE, or Banque Populaire Caisses d’Epargne, is one of the largest banking groups in France and the Eurozone. Groupe BPCE consists of two main entities, namely Banque Populaire, which is a cooperative bank, and Caisse d’Epargne, which is a savings bank. Founded in 2009, Groupe BPCE is one of the most powerful banking groups in France and has a significant presence in various international markets.
UBS Group AG is a global bank with a presence in many countries around the world. They have branch offices and service centers in various major financial centers such as New York, London, Hong Kong, and Zurich.
Here are some important facts about Groupe BPCE:
* Third largest bank in France: Groupe BPCE is the third largest banking group in France after BNP Paribas and Credit Agricol. The group has thousands of branches and offices across the country, and plays an important role in supporting the French economy.
* Cooperative Structure: Banque Populaire and Caisse d’Epargne are cooperative banks, meaning they are owned by their members. This creates a unique ownership structure in the banking world.
* Diversity of Services: Groupe BPCE offers a wide range of banking services, including retail banking, commercial banking, investment banking, asset management, insurance and other financial services.
* Globally Influential: Although based in France, Groupe BPCE has a strong international presence. They have branch offices and subsidiaries in various countries around the world, including the United States, Asia and other regions.
* Technological Innovation: Groupe BPCE actively follows financial technology (fintech) trends and has developed digital solutions to meet the needs of its customers. They also invest in fintech startups to develop innovation.
* Environmental and Social Commitment: The group has a strong commitment to social and environmental responsibility. They are involved in various sustainability programs and philanthropic efforts.
* Stable Finances: As one of Europe’s largest banks, Groupe BPCE enjoys stable and strong finances. They have a healthy capital base and have passed rigorous stress tests.
Groupe BPCE is a strong example of a cooperative bank that plays an important role in supporting the French economy and is committed to innovation and social responsibility. With its international presence, the group has a significant impact on global financial markets.
That is a list of the top 7 largest banks in Europe determined based on the value of the assets they own. This ranking is actually very dynamic and can change quickly. For example, the UBS group, in the previous year, was not ranked in the top 7 as the largest bank in Europe. However, based on the latest report in 2023, UBS has moved to 6th position, passing Groupe BPCE which previously occupied that position and Société Générale SA which was previously in 7th position. So, this list is not absolute and can change at any time, either a little or a lot.
