FACTBOX-U.S., European bank writedowns, credit losses

Feb 4 (BestGrowthStock) – Top U.S. and European banks have lost
more than $1 trillion on toxic assets and from bad loans since
the start of 2007, and were expected to top $2.8 trillion from
2007-10 with roughly two-thirds from loans and the remainder on
securities, according to International Monetary Fund forecasts.

U.S. banks were expected to take a $1 trillion hit and
European bank losses were seen reaching $1.6 trillion, the IMF
said in late 2009. It said U.S. banks were about 60 percent
through their losses, while British and eurozone banks were 40
percent through their writedowns. [ID:nLU99400]

For more banking stories please click on: [ID:nLDE6122AB]
[ID:nLDE61304U] [ID:nLDE6121XL] [ID:nN03168676].

Below is a list of estimated losses (in billions of dollars
at prevailing exchange rates):

BANK 2007 2008 2009 YTD TOTAL
Citigroup (C.N: ) 29.1 63.4 30.7 $123.2
Wachovia Corp* 4.0 73.4 $77.4
Bank of America (BAC.N: ) 12.1 29.2 35.5 $76.8
Merrill Lynch** 25.1 38.6 $63.7
HSBC (HSBA.L: ) 19.3 30.3 13.9 $63.5
Lloyds (LLOY.L: )& 6.8 28.9 22.3 $58.0
UBS (UBSN.VX: ) 50.6 1.7 $52.3
Royal Bk Scotland (RBS.L: ) 7.0 23.5 19.6 $50.1
Fannie Mae (FNM.N: ) 4.7 26.9 15.4 $47.0
JPMorgan Chase (JPM.N: ) 4.5 10.2 29.5 $44.2
Freddie Mac (FRE.N: ) 5.2 24.4 12.8 $42.4
Washington Mutual*** 5.1 36.7 $41.8
Barclays (BARC.L: ) 7.0 16.5 10.3 $33.8
Wells Fargo (WFC.N: ) 3.5 8.7 18.2 $30.4
Lehman Brothers**** 12.5 14.0 $26.5
Santander (SAN.MC: ) 4.8 8.3 13.2 $26.3
Morgan Stanley (MS.N: ) (Read more about the money market today. ) 10.3 10.1 2.4 $22.8
Commerzbank/Dresdner (CBKG.DE: ) 3.9 13.3 4.5 $22.3
Deutsche Bank (DBKGn.DE: ) 4.0 11.2 4.9 $20.1
Credit Suisse (CSGN.VX: ) 3.5 11.9 1.9 $17.3
IKB && $14.7
BBVA (BBVA.MC: ) 2.7 4.2 7.7 $14.6
National City***** $14.0
BNP Paribas+ (BNPP.PA: ) 2.4 8.0 3.4 $13.8
Societe Gen+ (SOGN.PA: ) 1.3 3.7 7.7 $12.7
UniCredit (CRDI.MI: ) 3.5 5.1 2.4 $11.0
C.Agricole+ (CAGR.PA: ) 2.7 4.4 3.1 $10.2
ING (ING.AS: ) 7.1 2.4 $9.5
Bayern LB 1.1 8.0 $9.1
Intesa Sanpaolo (ISP.MI: ) 1.6 4.5 2.6 $8.7
Goldman Sachs (GS.N: ) 1.7 4.9 1.9 $8.5
Natixis+ (CNAT.PA: ) 2.0 2.5 3.1 $7.6
Canadian Imp Bk Commerce $6.5
Erste Bank (ERST.VI: ) 0.8 2.5 1.3 $4.6
Standard Chartered (STAN.L: ) 0.8 1.8 1.1 $3.7
Bear Stearns****** 3.0 0.6 $3.6
Fortis $3.1
WestLB $3.0
Rabobank 0.8 1.7 $2.5
===============================================================
Total $1,111.3

(Sources: Reuters/annual reports/company filings)

Estimates based on writedowns and losses from subprime
securities, mortgages, CDOs, derivatives and SIVs, and losses on
bad loans, or non-performing loans. The definition of a bad loan
is complex and can vary between countries and often includes a
provision for future loan losses.

NOTES:

* Acquired by Wells Fargo at the end of 2008.

** Acquired by Bank of America on Jan 1, 2009.

*** Assets acquired by JPMorgan in Sept. 2008.

**** Filed for bankruptcy in Sept. 2008.

***** Bought by PNC Financial Services Group in Dec. 2008.

****** Bought by JPMorgan in March 2008.

& Includes HBOS, taken over by Lloyds in Jan. 2009.

&& Bought by Lone Star in Aug. 2008 after state-led
bailouts.

+ France bank estimates based on ‘cost of risk’.

Stock Market Today

(Compiled by David Cutler, Steve Slater and Elinor Comlay;
Editing by Sharon Lindores)

FACTBOX-U.S., European bank writedowns, credit losses