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Bank stocks were hit hard Wednesday when global equity markets plunged. The dramatic sell-off in Bank of America (NYSE:BAC) and Citibank (NYSE:C) stocks in the U.S. raised fresh fears of their failures. It is not just U.S. domestic banks that are still reeling from the effects of the credit crisis. Foreign banks are also suffering due to many reasons, including pressure on profits due to rising interest rates, loan losses tied to the real estate sector, lack of trust on their balance sheets, further losses due to bad assets, etc.

The table below shows the year-to-date performance of foreign bank stocks:

S.No. Bank Ticker Stock Price in $ YTD % Change Country
1 HDFC Bank HDB 33.55 0.39% India
2 Bancolombia CIB 60.94 -1.57% Colombia
3 Banco de Chile BCH 78.88 -9.06% Chile
4 Banco Bilbao Vizcaya Argentaria BBVA 9.21 -9.44% Spain
5 Westpac Banking WBK 103.41 -9.65% Australia
6 UBS UBS 14.72 -10.63% Switzerland
7 Shinhan Financial SHG 83.30 -11.21% Korea
8 HSBC HBC 44.92 -11.99% United Kingdom
9 Deutsche Bank DB 45.65 -12.30% Germany
10 Banco Santander Chile SAN 81.58 -12.72% Chile
11 Mitsubishi UFJ Financial MTU 4.72 -12.75% Japan
12 Banco Santander S.A STD 9.18 -13.80% Spain
13 ICICI Bank IBN 43.06 -14.97% India
14 Banco Bradesco BBD 16.89 -16.76% Brazil
15 Mizuho Financial MFG 3.03 -19.20% Japan
16 Grupo Financiero Galicia GGAL 12.21 -20.25% Argentina
17 Woori Finance WF 31.85 -23.35% Korea
18 KB Financial KB 39.90 -24.56% Korea
19 Credit Suisse CS 30.28 -25.07% Switzerland
20 Barclays Bank BCS 12.03 -27.18% United Kingdom
21 BBVA Banco Frances BFR 8.30 -28.45% Argentina
22 Itau Unibanco ITUB 17.14 -28.61% Brazil
23 Royal Bank of Scotland RBS 8.65 -29.79% United Kingdom
24 Corpbanca BCA 19.28 -30.60% Chile
25 National Bank of Greece NBG 1.13 -32.74% Greece
26 Banco Santander Brasil BSBR 8.81 -35.22% Brazil
27 Banco Macro BMA 30.81 -38.63% Argentina
28 Lloyds Banking Group LYG 2.08 -49.39% United Kingdom
29 Bank of Ireland IRE 1.27 -52.08% Ireland
30 Allied Irish Banks AIB 0.94 -78.64% Ireland

Source: BNY Mellon

The only bank that is in positive territory YTD is HDFC Bank (NYSE:HDB) of India. All the other banks are in the red YTD, with some European banks especially down heavily.

Disclosure: Long BCH, BBD, ITUB, BMA, STD, RBS, LYG

Source: Foreign Bank Stocks: Drowning in a Sea of Red