Top Banks in Europe 2023

The following table lists the largest banks in Europe ranked by total assets at the end of 2023. HSBC Holdings remained the continent's biggest bank with assets of US$2.92 trillion, ahead of BNP Paribas and Credit Agricole Group; five of the ten largest banks are French. UBS Group ranks seventh, its balance sheet enlarged by the state-brokered rescue of Credit Suisse in 2023. France and the UK each place six banks in the top 50, followed by Germany and Italy with five apiece and Spain with four, while PKO Bank Polski enters the ranking in 50th place.

Source: S&P Global Market Intelligence, "Europe's 50 largest banks by assets, 2024", published April 30, 2024 (data compiled April 3, 2024). Total assets are as of December 31, 2023 unless stated otherwise, are taken on an as-reported basis and are adjusted on a best-efforts basis for completed and pending M&A; Nationwide Building Society and Bayerische Landesbank report as of September 30, 2023. S&P Global publishes the European ranking in euros. The US dollar amounts for ranks 1 to 35 are S&P's own, taken from its companion ranking "The world's largest banks by assets, 2024" (data compiled April 5, 2024), in which all 35 of these banks also appear. Ranks 36 to 50 fall outside that global top 100 and were converted from euros at US$1.10534 per euro, the conversion factor implied by the banks common to both tables; the exception is Bayerische Landesbank, converted at US$1.05842 per euro to match its September 30, 2023 reporting date. The ranking covers banks and institutions with significant lending operations and excludes development banks and entities acting as central banks, banking associations or supervisors, so bodies such as KfW, the European Investment Bank and Cassa Depositi e Prestiti are not included.