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Article: Top 300 European Banks: HSBC Reclaims Region's Top Rank - The Global Giant Clambers Back Up To Number One And A Different Picture Emerges As M&As Filter Through.
- Article from:
- The Banker
- Article date:
- September 1, 2005
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The status quo has been restored at the top of The Banker's listing of the Top 300 European banks by Tier 1 capital. HSBC Holdings has regained the top spot from Credit Agricole, which last year finally broke the stranglehold that HSBC had had on the top place in these annual listings since 1995.
In 2004, Credit Agricole was preoccupied with working through its merger with Credit Lyonnais while HSBC continued to expand with the finalisation of the Bank of Bermuda purchase, the acquisition of significant minority stakes in Industrial Bank in China (through HSBC subsidiary, Hang Seng Bank), UTI Bank in India, and Bank of Communications in China, and the takeover of ...