FACTBOX-U.S. banks' market capitalization shrinks

Fri Jan 16, 2009 1:07am GMT

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 NEW YORK, Jan 15 (Reuters) - The U.S. banking industry has
been rattled to its core in the global financial crisis, with
the market capitalization of companies like Citigroup (C.N) and
Bank of America (BAC.N) and others dramatically declining.
 Citi, once the world's largest bank and now No. 3 in the
United States, said on Tuesday it would combine its Smith
Barney brokerage and other units with Morgan Stanley's (MS.N)
wealth management unit. The bank has reported $20.3 billion in
net losses and taken more than $64 billion in credit losses and
write-downs since Dec. 2007.
 Bank of America is in talks to receive about $15 billion in
additional bailout funds from the U.S. government, according to
sources.
 And on Thursday, JPMorgan Chase & Co (JPM.N) reported
fourth-quarter profit plunged 76 percent as it wrote down bad
loans, signaling that even the bank that has avoided the worst
of the credit crisis is struggling with the recession. The bank
turned a profit was because of special items.
 The state of banks the world over has been altered by the
global financial crisis.
 According to Reuters data, as of the close of U.S markets
on Thursday, the Industrial and Commercial Bank of China
(601398.SS)(1398.HK) had a market capitalization of $167.2
billion, China Construction Bank (601939.SS) (0939.HK) had a
market capitalization of $115.1 billion, and the Bank of
China's (601988.SS)(3988.HK) market capitalization was $95.9
billion, putting them ahead of the largest U.S. bank, JPMorgan
Chase, with its market capitalization of $90.8 billion.
 On Thursday, the Dow Jones Titans Bank Index .DJTBAK,
which does not include Chinese banks, showed U.K.-based HSBC
(HSBA.L) with market capitalization of $100.9 billion.
 Following is a table of the 10 largest U.S. banks, and 10
largest banks in the world, by market capitalization, as of the
close of U.S. markets on Jan. 15, 2009.
           TOP U.S. BANKS BY MARKET CAPITALIZATION
RANK  BANK              AT JAN 15, 2009  AT JAN 1, 2007  % CHG
                          ($bln)        (approx)
 1  JP Morgan Chase (JPM.N)    $90.8        $166.2        -45%
 2  Wells Fargo (WFC.N)        $83.8        $120.1        -30%
 3  Bank of America (BAC.N)    $53.2        $238.3        -77%
 4  US Bancorp (USB.N)         $33.4         $63.3        -47%
 5  Citigroup (C.N)            $20.9        $274.5        -92%
 6  PNC Financial (PNC.N)      $14.5         $23.6        -39%
 7  BB&T (BBT.N)               $11.6         $24.0        -51%
 8  Northern Trust (NTRS.O)    $10.8         $13.3        -19%
 9  SunTrust Banks (STI.N)      $7.4         $29.9        -75%
10  Hudson City Bancorp (HCBK.O)$6.9          $7.8        -12%
 (Source: Dow Jones US Banks Index, Reuters)
 (The numbers of shares outstanding used in the 2007
calculations came from U.S. Securities and Exchange Commission
filings)
   TOP TEN WORLDWIDE BANKS BY MARKET CAPITALIZATION AS OF
JAN 15, 2009
                           (in billions)
 1  HSBC (HSBA.L)             $100.9
 2  JP Morgan Chase (JPM.N)    $90.8
 3  Wells Fargo (WFC.N)        $83.8
 4  Mitsubishi UFJ (8306.T)    $67.4
 5  Banco Santander (SAN.MC)   $63.9
 6  Bank of America (BAC.N)    $53.2
 7  Royal Bank of Canada(RY.TO)$38.2
 8  Intesa SanPaolo (ISP.MI)   $38.0
 9  BBVA (BBVA.MC)             $37.2
10  BNP Paribas (BNPP.PA)      $36.9
 (Source: Dow Jones Titans Banks Index, which does not include
Chinese banks, Reuters)
*
 (Reporting by Phil Wahba)


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