Citi + BoA Losses = Rest of U.S. Banking’s Value

By my calculation, the two largest U.S. banks, Citi and Bank of America, have over the last year lost roughly as much in market capitalization as is the current value of the other six U.S. banks combined.

To be specific, Citi and BofA have together lost $296-billion in market capitalization over the last year, while JPMorgan, Wells Fargo, Bank of New York, Wachovia, WaMu, and U.S. Bank currently have a remaining combined capitalization of $283-billion. Staggering stuff.


As a related aside, and just in case anyone thinks the U.S. is alone in its banks seeing major share price declines, here is a 12-month graph of the share price performance of the 10 largest banks in the world (according to Euromoney in 2007):


Originally published at Infectious Greed and reproduced here with the author’s permission.Related RGE Content:1) Regulators to Banks: Raise New Capital. But Equity Costs Are Approaching Record Highs

2) U.S. Community Banks’ Commercial Real Estate Exposure: More Failures to Come?

3) Banks Reduce Their Lending for First Time in Decades: $1-$2 Trillion Fallout Could Reduce U.S. GDP Growth By 2% in One Year