The Belgium has lost several of its stars

Started in 2007, the financial crisis has revealed all its violence in 2008. After the collapse of Lehman Brothers in September, the Bank Europeans faced an unexpected distrust of the market on their financial strength as well as difficulties in refinancing never views. Everywhere, the States had to intervene to support the sector, up to the nationalisation or part of major players such as Fortis, Royal Bank of Scotland. Almost all had to carry out capital increases. The impact on the reference in the sector, the DJ Stoxx 600 Bank index, is without appeal: index collapses of over 65 in a year, his highest historical annual fall. No Bank exceeds the symbolic threshold of 100 billion euros of market capitalization, then were three two years ago. The addition of the first 10 caps reached only 330 billion as at end of 2006, to approach the 900 billion euros.

Belgium and United Kingdom to its knees. The Belgium has lost several of its stars. Following its disbandment, Fortis is found in the innermost of the charts. Its capitalization melted by 95. Less than 5 billion, Dexia is also in free fall. Once the third Bank Belgium, KBC has thus become the first with yet a decrease of 77 of its market value since the beginning of the year. Apart from HSBC, British institutions have continued to be affected by the crisis. If Royal Bank of Scotland to remain in the top 10 banks, its market capitalization has been divided by three and she had to be nationalized to 58. HBOS, first mortgage lender of the United Kingdom, has forced itself to merge with Lloyds TSB. The completion of this operation is expected in January, after the completion of a capital increase by HBOS.

Rare winners. In the field of ruins, a few winners emerge. HSBC confirms its first European market capitalization rank. Despite an invoice the crisis among the highest, it displays a tier-1 ratio of 8.9 and did not strengthen its capital. Banks of southern Europe, especially the Spain, are also embedded in top head. Santander strengthens its position as second of the class. It is illustrated in 2008 as the "Savior" of Alliance & Leicester and Bradford & Bingley Sovereign Bancorp. Emilio Botin group however announced end of November a surprise capital increase which has accelerated the decline of his title and has been hit hard by the Madoff scandal at year end. More quiet and focused on organic growth, BBVA also released his pin of the game. It climbs 7th to the 3rd place of the classification.

Surprising stability of the Swiss. His title fall by 70 on the year, and yet, the Swiss banking giant UBS earns a place in the top... Credit Switzerland compatriot won even two. Favored by the fall of other values, the two Swiss Giants were nevertheless at the heart of the crisis and forced to accept the Government's rescue plan. UBS has broken the European record of loss and exposure to toxic assets related to the crisis: $ 60 billion will be transferred to the Swiss National Bank by March.

The French still. In 2008, not less than 3 French banks occupy the first 11 places in the ranking. Last year, as there was only one: BNP Paribas. The sixth place of the European CAP, she certainly was better classified if the end of the year had not reserved his lot of surprises. But juridico-political complications related to the purchase of Fortis, the Madoff case and the loss of the market in its funding and Investment Bank had reason his rating of love on the markets. Another surprise, Société Générale. She won places in the rankings despite the Kerviel fraud which had made it ashore in January. Forced to reinforce its capital, in-depth review its procedures for risk control and governance, the Bank appears to be exit paradoxically reinforced. The event has in any case protected market accidents that plagued the sector after the collapse of Lehman Brothers.