Goldman Sachs publishes list of banks exposed to PIIGs

Goldman Sachs has published a list of the exposure that individual banks across Europe have to the debts of Portugal, Ireland, Italy, Greece and Spain, as well as the exposure countries have to each other.

Swedish newspaper Affärsvärlden has republished the list, suggesting that Nordic bank SEB has exposure of about €100m to Italian sovereign debt alone. European banks overall have €736bn of exposure to sovereign debt from the PIIGS, the investment banks says.

According to Goldman Sachs’ figures the top 10 most exposed banks by debt market are:

Greek sovereign debt Exposure €bn
NBG19.4
ABG10.0
Piraeus Bank8.4
HRE7.9
EFG Eurobank7.5
GPSB5.4
BNP Paribas5.0
Alpha Bank4.6
Dexia3.5
Marfin3.0

 

Irish sovereign debtExposure €bn
Allied Irish Bank13.4
HRE10.3
Bank of Ireland8.3
LBBW0.6
Barclays0.4
BNP Paribas0.4
BPI0.4
KBC0.4
Bank of Cyprus0.4
DZ Bank0.3

 

Portuguese sovereign debtExposure €bn
CGdD6.8
BCP5.2
BPI4.2
HRE3.7
Santander2.8
LBBW2.2
Dexia1.8
ING Bank1.8
WestLB1.7
BNP Paribas1.7

 

Spanish sovereign debtExposure €bn
BBVA52.1
Santander48.5
Bankia23.9
Caixa20.1
Barclays9.2
Banco Popular9.1
ESPIGA6.1
CAM6.0
Sabadell5.7
Banesto5.0

 

Italian sovereign debtExposure €bn
Intesa81.8
Unicredit38.8
BMPS25.0
BNP Paribas22.1
Dexia15.6
Credit Agricole10.1
Barclays10.0
Commerzbank10.0
UBI Banca9.9
Banco Popolare9.6

 

Goldman Sachs’ estimates for countries’ exposure to each others are:

 

Greek sovereign debtExposure €bnExposure %
Greece and Cyprus60.260
Germany17.317
France9.610
Benelux7.27
UK2.42
Italy1.72
Portugal1.31
Spain0.50
Austria0.50
Nordics0.20
CEE0.20
Irleand00
Total101.2 

 

Irish sovereign debtExposure €bnExposure %
Ireland21.856
Germany12.732
Benelux13
UK0.92
Portugal0.82
France0.82
Greece and Cyprus0.41
Italy0.31
Nordic0.31
Austria0.10
Spain0.10
CEE00
Total39,2 

 

Portuguese sovereign debtExposure €bnExposure %
Portugal17.740
Germany11.426
Benelux4.410
Spain3.89
France3.58
UK1.84
Italy0.41
Ireland0.21
CEE0.21
Austria0.20
Nordic0.10
Greece and Cyprus0.00
Total43,7 

 

Spanish sovereign debtExposure €bnExposure %
Spain205 83
Germany15.3 6
UK10.6 4
France6.9 3
Benelux6.7 3
Italy2.0 1
Portugal0.4 0
CEE0.4 0
Austria0.2 0
Nordic0.1 0
Greece and Cyprus0 0
Ireland0 0
Total 247 

 

Italian sovereign debtExposure €bnExposure %
Italy176.858
France37.712
Benelux32.211
Germany27.89
UK13.7 5
Spain10.8 4
CEE2.6 1
Austria1.7 1
Nordic0.8 0
Greece and Cyprus0.1 0
Portugal0.1 0
Ireland0 0
Total304.2 

 

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