Most of Europe's 20 largest banks by market capitalization saw their values decline as the second quarter proved to be another difficult period for the industry, according to S&P Global Market Intelligence data.
Of the 20 largest banks, 16 saw their market capitalization decline compared to March 31, when calculated in euros. HSBC Holdings Plc remained atop the rankings and once again has a market cap more than double that of its nearest rival, now BNP Paribas SA.
As of March 31, Lloyds Banking Group Plc had been among three banks with a market cap at least half that of HSBC, but it slipped to fourth as its shares fell and the pound lost value against the euro. BNP Paribas and third-placed Banco Santander SA each moved up a spot in the ranking.
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