From data compiled by Bloomberg, financial firms have now written down $399 billion, with much more expected in the coming weeks. On the flip side, they have raised a total of $322 billion in new capital.
Below we highlight the writedowns and capital raised of major financial firms around the world. Citigroup (C) tops the writedown list at $42.9 billion, followed by UBS ($38.2) and Merrill Lynch ($37.1). Goldman Sachs and Wells Fargo are at the bottom of the list with $3.8 billion and $3.0 billion written down respectively.
In the table we also include the current market cap for each firm as well as the ratio of writedowns to market cap. ETrade (ETFC) tops this list with a ratio just over two (writing down $3.3 billion with a current market cap of $1.6 billion). Washington Mutual and Merrill Lynch are the only other firms that have written down more than their company is currently worth. JP Morgan, Goldman and Wells Fargo have the best writedown/market cap ratios.
No comments:
Post a Comment