Of the 20 largest banks, 16 saw their market capitalization decline compared to March 31, when calculated in euros. HSBC Holdings Plc remained atop the rankings and once again has a market cap more than double that of its nearest rival, now BNP Paribas SA.
As of March 31, Lloyds Banking Group Plc had been among three banks with a market cap at least half that of HSBC, but it slipped to fourth as its shares fell and the pound lost value against the euro. BNP Paribas and third-placed Banco Santander SA each moved up a spot in the ranking.
