Top Ten Global Banks with maximum write-down & losses
A year into the credit crisis, write-down & losses had been in billions for the leading global banks.
The three banks that have suffered the heftiest losses since 9th August 2007 are—Citigroup, Merrill Lynch and UBS. Citigroup took the losses of US$54.6 billion. Merrill Lynch and Zurich-based UBS took second and third spots, taking US$51.8 and US$38.2 billion hits respectively.
HSBC, which reported its first-half results on August 4th, has taken heavy losses of US$27.4 billion.
Others in the list include- Wachovia (US$22.0 billion), Bank of America (US$21.2 billion), IKB (US$15.9 billion), Royal Bank of Scotland (US$15.2 billion), Washington Mutual (US$14.8 billion) and Morgan Stanley (US$14.4 billion).
(Source- The Economist)
However, Indian banks so far seems to have been spared of America’s mortgage-lending bust.
Results of Banks in India-First Quarter ended June 2008
Special Feature on Subprime Crisis
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