FACTBOX-How Europe's top banks fared in 2008 crisis

Dec 23 (Reuters) - State bailouts, emergency fundraisings,
profit warnings and deepening economic gloom -- Europe's banks
have been battered during 2008.

Following is a summary of the performance of Europe's major
banks, ranked by rough market value at the start of the year,
since when the DJ Stoxx European bank index .SX7P has crashed
66 percent (share performance based on year to Dec. 22 close):

HSBC HOLDINGS PLC (HSBA.L)(0005.HK):

Shares: Down 27 percent

2008: HSBC is one of the few banks not to raise funds.
Benefited from its traditionally strong capital and liquidity,
with high savings in Asia helping it withstand losses on U.S.
home loans. Made some modest acquisitions, mainly in Asia.

Prospects for 2009: Its capital position has come under
scrutiny in recent weeks, but it is not expected to raise
capital unless it makes a bigger acquisition. It faces more U.S.
losses and rising bad debts in Europe and could trim its
dividend or pay it out in shares, but its financial firepower
and deposit base remain the envy of rivals.

BANCO SANTANDER SA (SAN.MC)

Shares: Down 52 percent

2008: Raised 7.2 billion euros ($10 billion) in a surprise
rights issue. Spain's tightly regulated banks typically hold
bigger capital buffers, but loan defaults are rising fast.
Santander avoided most U.S. subprime pitfalls and remains nimble
and acquisitive, buying Alliance & Leicester to beef up its UK
arm and aiming to take full control of U.S. bank Sovereign
SOV.N. Asset sales postponed due to poor market conditions.

Prospects for 2009: The proven deal-maker expects to benefit
from problems elsewhere and its capital and geographic spread
are strengths, but its exposure to Spain and Britain will hurt.

UNICREDIT SPA (CRDI.MI)

Shares: Down 70 percent

2008: Two profit warnings in recent months have shown the
Italian bank's international reach, once seen as an advantage,
has left it more exposed than rivals to the crisis. Boosting
capital by 6.6 billion euros by skipping its cash dividend and
raising funds. Libya took a 4.6 percent stake.

Prospects for 2009: Capital still a concern, especially if
central and eastern Europe weakens and headwinds build in
investment banking and asset management. Speculation has been
rife the crisis will cost CEO Alessandro Profumo his job.

BNP PARIBAS SA (BNPP.PA)

Shares: Down 60 percent

2008: A torrid December has undermined the perception of
France's biggest bank as a safe haven. Investment bank losses,
exposure to the Madoff fraud and legal problems with its
takeover of Fortis assets raised concern about capital. It
agreed to buy Fortis assets for 14.5 billion euros in a deal
that will see the Belgian government take a 12 percent stake.

Prospects for 2009: BNP's weak capital position has
undermined confidence. But the Fortis deal was well received and
would provide a strong base if it goes through, analysts reckon.

INTESA SAOPAOLO SPA (ISP.MI)

Shares: Down 53 percent

2008: Benefited from conservative Italian lending policies,
but hit by worries its capital cushion is now below rivals. It
has ruled out a capital increase but will not pay its dividend
in cash to preserve cash.

Prospects for 2009: A weakening domestic economy could keep
pressure on, but it should benefit from its strong market
position and scale and assets disposals could help its capital
position.

BBVA SA (BBVA.MC)

Shares: Down 49 percent

2008: Avoided the worst pitfalls, helped by stricter Spanish
bank regulations and growth in Latin America. It has rejected
big fundraisings, kept a low profile and said it will focus on
organic growth and consolidating its U.S. franchise.

Prospects for 2009: Expected to continue to steer clear of
major problems, but there are worries that rising Spanish bad
debts could stretch its capital position.

ROYAL BANK OF SCOTLAND GROUP PLC (RBS.L)

Shares: Down 89 percent

2008: Brought low by big writedowns, last year's badly timed
acquisition of ABN AMRO and a thin capital cushion. It prompted
a record $23 billion rights issue in June, forced the exit of
CEO Fred Goodwin, and then another 20 billion state bailout in
October, leaving the UK owning a 58 percent stake.

Prospects for 2009: Will undergo a strategic overhaul under
new CEO Stephen Hester and could sell its U.S. and/or insurance
arms and massively shrink its investment bank. No dividends
until government preference shares have been repaid.

UBS AG (UBSN.VX)

Shares: Down 71 percent

2008: The Swiss bank's $49 billion of writedowns on subprime
assets is the biggest in Europe. Capital rebuild included a $12
billion injection in February from outside investors, a $15
billion rights issue in June and a $5 billion injection from the
Swiss government in October for a 9.3 percent stake, and payment
of its dividend in shares.

The bank hived off $60 billion of illiquid assets into an
independent structure and new management is overhauling
strategy, reducing its balance sheet, changing its bonus system
and trying to restore trust among key wealthy clients.

Prospects for 2009: Chairman Peter Kurer is attempting to
rebuild UBS's reputation and is optimistic it is through the
worst, but more asset sales, restructuring, pressure on fees and
tough markets are on the horizon.

CREDIT SUISSE AG (CSGN.VX)

Shares: Down 59 percent

2008: Fared well by comparison to arch rival UBS, but has
not been unscathed and a $2.5 billion loss for October and
November highlighted investment bank problems. Has retrenched
and cut thousands of jobs, and raised $9 billion from Qatar and
other investors in October to keep its capital position strong.

Prospects for 2009: Expects to emerge as winner from the
crisis as a strong balance sheet, reputation and client inflows
should see it grab business and scope for wealth management M&A.

DEUTSCHE BANK AG (DBKGn.DE)

Shares: Down 72 percent

2008: Avoided big trouble at the start of the crisis but
writedowns topped 8.5 billion euros and the slump in investment
banking and trading has hit hard, forcing it to cut staff and
refocus. Raised 2.2 billion euros to part-fund purchase of a
controlling stake in Deutsche Postbank (DPBGn.DE). Declined to
take state rescue funds, but said it could cut its dividend.

Prospects for 2009: The meltdown in financial markets will
hurt Deutsche's highly regarded executive team, but its Postbank
deal will help cut its over-reliance on investment banking.

FORTIS NV (FOR.BR)

Shares: Down 94 percent

2008: Needed a state rescue in October after customers lost
confidence and the bank buckled, leaving another victim of the
ill-timed ABN deal and stretched capital. Its CEO had already
paid the price, and promised asset sales failed to stem the
crisis. Dutch, Belgian and Luxembourg governments and BNP
Paribas carved up the bank.

Prospects for 2009: The deal has been suspended by a Belgian
court, but if approved will leave Fortis with international
insurance operations and a two-thirds share of a 10 billion euro
portfolio of toxic assets.

BARCLAYS PLC (BARC.L)

Shares: Down 70 percent

2008: Hit by writedowns on toxic assets and a slowdown in
investment banking, but chose not to take state funds. Raised
over $21 billion from outside and existing investors, giving big
stakes to Qatar, Abu Dhabi and China investors, but the costly
terms angered shareholders. It picked up Lehman Brothers' U.S.
business at a knock-down price.

Prospects for 2009: A tough UK economy and difficult
financial markets create stiff headwinds, but it has retained
independence and analysts say its Lehman purchase will give it a
strong Wall Street presence.

SHARE PERFORMANCE OF OTHER LEADING BANKS (PCT):

Credit Agricole (CAGR.PA) - 63

Societe Generale (SOGN.PA) - 63

Lloyds TSB (LLOY.L) - 74

HBOS HBOS.L - 91

Standard Chartered (STAN.L) - 53

Nordea (NDA.ST) - 49

Commerzbank (CBKG.DE) - 77

(Sources: Thomson Reuters data, companies, analyst reports)
(Compiled by Steve Slater; Editing by David Holmes)