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
NBG 19.4
ABG 10.0
Piraeus Bank 8.4
HRE 7.9
EFG Eurobank 7.5
GPSB 5.4
BNP Paribas 5.0
Alpha Bank 4.6
Dexia 3.5
Marfin 3.0

 

Irish sovereign debt Exposure €bn
Allied Irish Bank 13.4
HRE 10.3
Bank of Ireland 8.3
LBBW 0.6
Barclays 0.4
BNP Paribas 0.4
BPI 0.4
KBC 0.4
Bank of Cyprus 0.4
DZ Bank 0.3

 

Portuguese sovereign debt Exposure €bn
CGdD 6.8
BCP 5.2
BPI 4.2
HRE 3.7
Santander 2.8
LBBW 2.2
Dexia 1.8
ING Bank 1.8
WestLB 1.7
BNP Paribas 1.7

 

Spanish sovereign debt Exposure €bn
BBVA 52.1
Santander 48.5
Bankia 23.9
Caixa 20.1
Barclays 9.2
Banco Popular 9.1
ESPIGA 6.1
CAM 6.0
Sabadell 5.7
Banesto 5.0

 

Italian sovereign debt Exposure €bn
Intesa 81.8
Unicredit 38.8
BMPS 25.0
BNP Paribas 22.1
Dexia 15.6
Credit Agricole 10.1
Barclays 10.0
Commerzbank 10.0
UBI Banca 9.9
Banco Popolare 9.6

 

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

 

Greek sovereign debt Exposure €bn Exposure %
Greece and Cyprus 60.2 60
Germany 17.3 17
France 9.6 10
Benelux 7.2 7
UK 2.4 2
Italy 1.7 2
Portugal 1.3 1
Spain 0.5 0
Austria 0.5 0
Nordics 0.2 0
CEE 0.2 0
Irleand 0 0
Total 101.2  

 

Irish sovereign debt Exposure €bn Exposure %
Ireland 21.8 56
Germany 12.7 32
Benelux 1 3
UK 0.9 2
Portugal 0.8 2
France 0.8 2
Greece and Cyprus 0.4 1
Italy 0.3 1
Nordic 0.3 1
Austria 0.1 0
Spain 0.1 0
CEE 0 0
Total 39,2  

 

Portuguese sovereign debt Exposure €bn Exposure %
Portugal 17.7 40
Germany 11.4 26
Benelux 4.4 10
Spain 3.8 9
France 3.5 8
UK 1.8 4
Italy 0.4 1
Ireland 0.2 1
CEE 0.2 1
Austria 0.2 0
Nordic 0.1 0
Greece and Cyprus 0.0 0
Total 43,7  

 

Spanish sovereign debt Exposure €bn Exposure %
Spain 205  83
Germany 15.3  6
UK 10.6  4
France 6.9  3
Benelux 6.7  3
Italy 2.0  1
Portugal 0.4  0
CEE 0.4  0
Austria 0.2  0
Nordic 0.1  0
Greece and Cyprus 0  0
Ireland 0  0
Total  247  

 

Italian sovereign debt Exposure €bn Exposure %
Italy 176.8 58
France 37.7 12
Benelux 32.2 11
Germany 27.8 9
UK 13.7  5
Spain 10.8  4
CEE 2.6  1
Austria 1.7  1
Nordic 0.8  0
Greece and Cyprus 0.1  0
Portugal 0.1  0
Ireland 0  0
Total 304.2  

 

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