HSBC is the largest bank in Europe in terms of assets, according to the latest list of 50 largest European banks published by S&P Global Market Intelligence.

Here is the full list of the top European banks, ranked by total 2023 assets.

1. HSBC (UK) – €2.641 trillion

2. BNP Paribas (France) – €2.594 trillion

3. Crédit Agricole Group (France) – €2.476 trillion

4. Banco Santander (Spain) – €1.797 trillion

5. Barclays (UK) – €1.712 trillion

6. Société Générale (France) – €1.554 trillion

7. UBS Group (Switzerland) – €1.554 trillion

8. Groupe BPCE (France) – €1.544 trillion

9. Deutsche Bank (Germany) – €1.312 trillion

10. Crédit Mutuel Group (France) – €1.143 trillion

11. Lloyds Banking Group (UK) – €1.016 trillion

12. ING Groep (Netherlands) – €975.58 billion

13. Intesa Sanpaolo (Italy) – €963.13 billion

14. NatWest Group (UK) – €815.75 billion

15. UniCredit (Italy) – €789.74 billion

16. Banco Bilbao Vizcaya Argentaria (Spain) – €747.29 billion

17. Standard Chartered (UK) – €744.45 billion

18. La Banque Postale (France) – €733.18 billion

19. DZ Bank (Germany) – €644.59 billion

20. Rabobank (Netherlands) – €621.85 billion

21. CaixaBank (Spain) – €607.17 billion

22. Nordea Bank (Finland) – €599.63 billion

23. Sberbank of Russia (Russia) – €526.47 billion

24. Commerzbank (Germany) – €494.22 billion

25. Danske Bank (Denmark) – €487.90 billion

26. Nationwide Building Society (UK) – €442.08 billion

27. ABN Amro Bank (Netherlands) – €414.98 billion

28. KBC Group (Belgium) – €405.65 billion

29. Erste Group Bank (Austria) – €308.55 billion

30. Landesbank Baden-Württemberg (Germany) – €294.82 billion

31. Skandinaviska Enskilda Banken (Sweden) – €274.19 billion

32. Raiffeisen Gruppe (Switzerland) – €269.26 billion

33. Svenska Handelsbanken (Sweden) – €264.08 billion

34. DNB Bank (Norway) – €261.95 billion

35. VTB Bank (Russia) – €258.96 billion

36. Bayerische Landesbank (Germany) – €257.40 billion

37. Swedbank (Sweden) – €256.86 billion

38. Banco de Sabadell (Spain) – €246.80 billion

39. Nykredit (Denmark) – €245.07 billion

40. Zürcher Kantonalbank (Switzerland) – €242.16 billion

41. Banco BPM (Italy) – €241.14 billion

42. Raiffeisen Bank International (Austria) – €227.84 billion

43. Belfius Bank (Belgium) – €209.20 billion

44. OP Financial Group (Finland) – €200.37 billion

45. Bank of Ireland Group (Ireland) – €160.19 billion

46. BPER Banca (Italy) – €146.16 billion

47. AIB Group (Ireland) – €136.32 billion

48. Türkiye Cumhuriyeti Ziraat Bankası (Turkey) – €135.17 billion

49. Banca Monte dei Paschi di Siena (Italy) – €122.61 billion

50. PKO Bank (Poland) – €115.41 billion

2025 trends affecting European banks

Here are some recent trends covered in EMARKETER reports.

• Competition from Neobanks and Fintechs: European banks see neobanks as their biggest competitors. To counter this, many traditional banks are investing in fintech startups and building their own digital banks. A survey by research firm Economist Impact commissioned by Temenos found that 36% of European banks are creating their own greenfield digital banks or fintech companies, and 43% are allocating funds to these ventures.
• Investment in Fintech: European banks are investing in fintechs to enhance their operations and services. Barclays focuses on wealth tech, Santander on lending tech and liquidity management, ABN Amro on reg tech and banking tech, and ING Bank on lending and AI.
• Digital Transformation: Traditional banks are striving to emulate neobanks’ digital experiences to attract younger consumers. However, they face challenges due to legacy systems, requiring significant investments to establish seamless digital banking experiences.
• Mixed Success of Digital Subsidiaries: Some digital-only subsidiaries of traditional European banks have had mixed results. While Openbank by Banco Santander and Hello Bank by BNP Paribas have gained a substantial customer base, others have struggled with technical issues and usability problems.
• Regulatory Challenges: European banks are facing regulatory challenges, particularly with the implementation of the EU AI Act, which provides a legal framework for AI. This regulation is expected to impact banks' operations, especially in areas like compliance and risk management.
• AI and Technology Adoption: European banks are increasingly adopting AI and technology to enhance operations and customer service. Strategic partnerships with technology vendors are a key priority, and new software is the top AI investment priority for European organizations

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