The European Union would be the second largest economy after the United States if it were a single state. According to the IMF, the GDP as at January 2017 was $16.5 trillion (nominal) and $20.7 trillion (PPP). Some of the world’s largest multinationals are found in Europe and generate millions in revenue. These are the largest financial companies in Europe in terms of revenue generated.
The Internationale Nederlanden Groep (ING) is a banking and financial services corporation with its headquarters in Amsterdam, Netherlands. It is a multinational company that engages in direct, retail, commercial, and investment banking. It also deals with insurance service and asset management. ING is a member of an eleven-member group of the most prominent banks in Europe known as the Inter-Alpha Group of Banks. The bank has a labor force of about 75,000 serving more than 48 million people and institutions in more than 40 countries. In 2016, its revenue totaled $150.571 billion while its assets totaled $845 billion.
French multinational insurance and Investment management firm AXA ranked second with total revenue of $142.712 billion and an asset base of €887.07 billion. The Paris based corporation was among the top three financial brands in the world in 2016. It operates in Western Europe, Asia Pacific region, North American and the Middle East. AXA core products are management, health and life insurance, property insurance, casualty insurance. In 2011, AXA ranked below Barclays and Above State Street Corporation to rank second in the global financial stability and market competition index.
German multinational corporation Allianz SE ranked third with revenue of 134,167, and assets totaling €848.9 billion as of 2015. The corporation is headquartered in Munich and its products are Insurance and asset management. As at 2014, Allianz was the largest insurance and financial services group company in the world before it was surpassed by AXA. In 2008 Allianz sold a larger proportion of its banking wing; the Dresdner Bank to Commerzbank and gained 14% stake in the new Commerzbank. Allianz SE subsidiaries include Allianz France, Allianz Insurance plc, Allianz Global Investors among several others. It operates in Europe, North America, and the Middle East.
BNP Paribas is a French multinational banking group that provides financial services in 75 counties and serves about 30 million clients. It is among the largest banks in the world with revenue of 127.460 billion and assets worth approximately €1.994 trillion. It operates in France, Italy, Luxemburg, Belgium, the Mediterranean region and western United states. The bank was formed in 2000 when Paribas Bank and Banque Nationale de Paris merged. In 2015 its brand value in France rose by EUR590 million to reach an all-time high of EUR14.7 billion. In 2016. It was ranked the 5th leading bank internationally and 2nd in the Eurozone behind HSBC Holdings PLC.
Banco Santander is a member of the Santander Group. It is a Spanish multinational banking service provider with market share across Europe, North and America, and Asia. Its revenue is approximately $117.408 billion and had accumulated assets worth €1.340 trillion as of 2015. In 2016 it ranked 37th in the Forbes 2000 largest public companies.
The Most Successful Financial Services Companies In Europe
|Rank||Company||Revenue (in millions of USD)||Headquarters|
|15||Lloyds Banking Group||67,048||United Kingdom|
|16||Royal Bank of Scotland Group||62,798||United Kingdom|
|20||Zurich Insurance Group||52,983||Switzerland|