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In 2024, HSBC reported the highest pre-tax profit among Europe’s largest banks, exceeding 32.3 billion U.S. dollars. It was followed by Banco Santander, BNP Paribas, and Crédit Agricole, each recording gross profits of more than 15 billion U.S. dollars.

Tier 1 capital

Tier 1 capital displays the financial strength of a bank as it shows the bank’s core capital including equity capital and disclosed reserves. Regulators use tier 1 capital for the purpose of ensuring that banks have enough capital in case of unexpected losses. As of 2024, HSBC had the highest amount of tier 1 capital of any bank in Europe, with over ****billion U.S. dollars. Although HSBC has the most in tier 1 capital, they did not make the list for best performing European banks for fully loaded CET1 capital ratios.

Leading banks in assets

Another way to measure a bank’s strength, size, and overall health is through its total assets. Total assets, a key indicator of a bank’s prosperity, represent everything the bank owns, including cash and balances, loans and advances to banks and customers, and debt securities. In 2024, Europe’s largest banks reported nearly three trillion euros in total assets.