These Are The Euro Banks With The Most Exposure If Greece Defaults

The Bank for International Settlements just released their latest data: how much banks are exposed to sovereign Greek debt as of the first quarter ending March 31 2011.

Despite many improvements in the last year, the figures remain sobering–lenders in multiple European nations have tens of billions of dollars in exposure to Greece.

Our list ranks the countries that are home to the banks with the greatest exposure to Greece. It is ranked based on BIS’s list of the consolidated amounts┬áthat reporting banks have outstanding on Greece by nationality of reporting banks on an “ultimate risk basis.”

We’ve also included bank-by-bank exposure from the European Banking Authority’s stress test earlier this year. Specifically, we’ve listed each bank’s Gross Direct Long Exposures (GDLE) to Greek sovereigns (central and local governments) as of December 31 2010.

Although the bank GDLE data is months older than the new country-by-country numbers, the bank exposure data was calculated based on yearly exposure up to 15 years out.

#12: Spain -- $1.1 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • BANCO SANTANDER S.A.: $242 million
  • BANCO BILBAO VIZCAYA ARGENTARIA S.A. (BBVA): $174 million
  • BFA-BANKIA: $75 million
  • EFFIBANK: $51 million
  • GRUPO BANCA CIVICA: $7 million
  • MONTE DE PIEDAD Y CAJA DE AHORROS DE RONDA, CADIZ, ALMERIA, MALAGA, ANTEQUERA Y JAEN: $8 million
  • BANCO PASTOR, S.A.: $56 million

Additional Source: Bank for International Settlements

#11: Japan -- $1.3 billion in total bank exposure

Individual banks N/A (Not European)

Source: Bank for International Settlements

#10: Belgium -- $2 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • DEXIA: $4.8 billion
  • KBC BANK: $608 millon

Additional Source: Bank for International Settlements

#9: Switzerland -- $3 billion in total bank exposure

Individual banks N/A (Not stress tested by EBA)

Additional Source: Bank for International Settlements

#8: Austria -- $3.3 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • ERSTE BANK GROUP (EBG): $472 million
  • RAIFFEISEN BANK INTERNATIONAL (RBI): $3 million
  • OESTERREICHISCHE VOLKSBANK AG: $156 million

Additional Source: Bank for International Settlements

#7: Italy -- $4.5 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • INTESA SANPAOLO S.p.A: $848 million
  • UNICREDIT S.p.A: $921 million
  • BANCA MONTE DEI PASCHI DI SIENA S.p.A: $11 million
  • BANCO POPOLARE - S.C.: $119 million Euro
  • UNIONE DI BANCHE ITALIANE SCPA (UBI BANCA): $34 million

Additional Source: Bank for International Settlements

#6: The Netherlands -- $5.2 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • ING BANK NV: $1 billion
  • RABOBANK NEDERLAND: $516 million
  • SNS BANK NV: $64 million

Additional Source: Bank for International Settlements

#5: United States -- $8.7 billion in total bank exposure

Individual banks N/A (Not European)

A Deutsche Bank analyst says U.S. financials' exposure to Greece is 'manageable.'

Additional Source: Bank for International Settlements

#4: Portugal -- $10.2 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • CAIXA GERAL DE DEPÓSITOS, SA: $70 million
  • BANCO COMERCIAL PORTUGUÊS, SA (BCP OR MILLENNIUM BCP): $995 million
  • ESPÍRITO SANTO FINANCIAL GROUP, SA (ESFG): $423 million
  • BANCO BPI, SA: $445 million

Additional Source: Bank for International Settlements

#3: United Kingdom -- $14.7 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • ROYAL BANK OF SCOTLAND GROUP plc: $1.6 billion
  • HSBC HOLDINGS plc: $1.9 billion
  • BARCLAYS plc: $263 million

Additional Source: Bank for International Settlements

#2: Germany -- $23.8 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • DEUTSCHE BANK AG: $2.5 billion
  • COMMERZBANK AG: $4.1 billion
  • LANDESBANK BADEN-WÜRTTEMBERG: $1.1 billion
  • DZ BANK AG DT. ZENTRAL-GENOSSENSCHAFTSBANK: $1 billion
  • BAYERISCHE LANDESBANK: $198 million
  • NORDDEUTSCHE LANDESBANK -GZ-: $205 million
  • WESTLB AG, DÜSSELDORF: $469 million
  • HSH NORDBANK AG, HAMBURG: $137 million
  • LANDESBANK BERLIN AG: $613 million
  • DEKABANK DEUTSCHE GIROZENTRALE, FRANKFURT: $119 million
  • WGZ BANK AG WESTDT. GENO. ZENTRALBK, DDF: $432 million

Additional Source: Bank for International Settlements

#1: France -- $56.9 billion in total bank exposure

Bank-by-bank Gross Direct Long Exposures (GDLE) to Greek Sovereigns

  • BNP PARIBAS: $7.1 billion
  • CREDIT AGRICOLE: $896 million
  • BPCE: $1.8 billion
  • SOCIETE GENERALE: $3.8 billion

Additional Source: Bank for International Settlements

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