Banks' Subprime-Related Losses Surge to $591 Billion: Table
2008-09-29 17:12:15.560 GMT
(Global tally rose by $34 billion since table was last published
on Sept. 26)
By Yalman Onaran and Dave Pierson
Sep. 29 (Bloomberg) -- The following table shows the $590.8
billion in asset writedowns and credit losses at more than 100 of
the world's biggest banks and securities firms as well as the
$434.2 billion capital raised to cope with them.
Those with a star next to their name have figures that were
updated since the table was last published. You can see quarterly
breakdowns for each bank and different regions by typing WDCI.
*T
Firm Writedown & Loss Capital Raised
Citigroup Inc.* 60.8 71.1
Wachovia Corporation* 52.7 11.0
Merrill Lynch & Co. 52.2 29.9
Washington Mutual Inc. 45.6 12.1
UBS AG 44.2 28.0
HSBC Holdings Plc 27.4 5.1
Bank of America Corp. 21.2 20.7
JPMorgan Chase & Co. 18.8 19.7
Morgan Stanley* 15.7 14.6
IKB Deutsche Industriebank AG 14.8 12.2
Royal Bank of Scotland Group Plc 14.1 23.1
Lehman Brothers Holdings Inc. 13.8 13.9
Credit Suisse Group AG 10.4 3.0
Deutsche Bank AG 10.4 6.1
Wells Fargo & Company 10.0 5.8
Credit Agricole S.A. 8.8 8.5
Barclays Plc 7.6 17.9
Canadian Imperial Bank of Commerce 7.2 2.8
Fortis* 7.1 23.1
Bayerische Landesbank 6.9 0.0
HBOS Plc 6.8 7.2
ING Groep N.V. 6.7 4.6
Societe Generale 6.6 9.4
Mizuho Financial Group Inc. 6.1 0.0
National City Corp. 5.4 8.9
Natixis 5.3 11.8
Indymac Bancorp Inc 4.9 0.0
Goldman Sachs Group Inc. 4.9 10.6
Lloyds TSB Group Plc 4.7 4.8
Landesbank Baden-Wurttemberg 4.7 0.0
WestLB AG 4.6 7.2
Dresdner Bank AG 3.9 0.0
BNP Paribas 3.9 0.0
E*TRADE Financial Corp. 3.6 2.4
HSH Nordbank AG 3.5 1.8
Rabobank 3.5 0.0
Nomura Holdings Inc. 3.4 1.2
Bear Stearns Companies Inc. 3.2 0.0
Bank of China Ltd 3.1 0.0
DZ Bank AG 2.6 0.0
Landesbank Sachsen AG 2.5 0.0
UniCredit SpA 2.5 0.0
Commerzbank AG 2.3 0.0
ABN AMRO Holding NV 2.2 0.0
Royal Bank of Canada 2.2 0.0
Fifth Third Bancorp 1.9 2.6
Dexia SA 1.6 0.0
Mitsubishi UFJ Financial Group 1.6 1.6
Bank Hapoalim B.M. 1.5 2.5
Marshall & Ilsley Corp. 1.4 0.0
Alliance & Leicester Plc 1.3 0.0
U.S. Bancorp 1.3 0.0
Bank of Montreal 1.2 0.0
KeyCorp 1.2 1.6
Groupe Caisse d'Epargne 1.2 0.0
Hypo Real Estate Holding AG* 1.1 0.0
Sovereign Bancorp Inc. 1.0 1.9
Gulf International Bank 1.0 1.0
Sumitomo Mitsui Financial Group 1.0 4.9
Sumitomo Trust and Banking Co. 0.8 1.0
National Bank of Canada 0.7 1.0
DBS Group Holdings Limited 0.2 1.1
Other European Banks* 9.1 2.9
(not listed above)
Other Asian Banks 5.5 8.9
(not listed above)
Other US Banks 2.9 4.8
(not listed above)
Other Canadian Banks 0.4 0.0
(not listed above)
________ ________
TOTAL 590.8 434.2
*T
All the charges stem from the collapse of the U.S. subprime-
mortgage market and reflect credit losses or writedowns of
mortgage assets that aren't subprime, as well as charges taken on
leveraged-loan commitments since the beginning of 2007. They are
net of financial hedges the firms used to mitigate losses and
pre-tax figures unless the bank only provided after-tax numbers.
Credit losses include the increase in the provisions for bad
loans, impacted by the rising defaults in mortgage payments.
Capital raised includes common stock, preferred shares,
subordinated debt and hybrid securities which count as Tier 1
or Tier 2 capital as well as equity stakes or subsidiaries sold
for capital strengthening. Capital data begins with funds
raised in July 2007.
All numbers are in billions of U.S. dollars, converted at
today's exchange rate if reported in another currency. See WDCI
Help pages for a list of the banks included in the Other European,
Other U.S., Other Canada and Other Asia categories.
