Bank stocks were hit hard Wednesday when global equity markets plunged. The dramatic sell-off in Bank of America (BAC) and Citibank (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 (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
