List of banks acquired or bankrupted during the Great Recession

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This is a list of financial institutions that were severely affected by the Great Recession. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

Acquisitions[edit]

Announcement date Acquired company Acquirer Type of company acquired Value (USD, EUR and GBP)
October 9, 2007 Netherlands ABN AMRO United Kingdom Belgium Spain Royal Bank of Scotland Fortis Grupo Santander Universal Bank 70,000,000,000
February 22, 2008 United Kingdom Northern Rock United Kingdom Government of the United Kingdom Building Society £|26,900,000,000
April 1, 2008 United States Bear Stearns United States JPMorgan Chase Investment Bank $2,200,000,000
July 1, 2008 United States Countrywide Financial United States Bank of America Retail and Commercial Bank $4,000,000,000
July 14, 2008 United Kingdom Alliance & Leicester Spain Grupo Santander Building Society £1,260,000,000
September 7, 2008 United States Fannie Mae and Freddie Mac United States Federal Housing Finance Agency Government Mortgage Lender $5,000,000,000,000,000,000
September 14, 2008 United States Merrill Lynch United States Bank of America Investment Bank $44,000,000,000
September 16, 2008 United States American International Group United States United States Treasury Insurance Company $182,000,000,000
September 17, 2008 - United States Lehman Brothers United Kingdom Barclays Investment Bank $1,300,000,000
September 18, 2008 United Kingdom HBOS United Kingdom Lloyds TSB Building Society $21,850,000,000
September 26, 2008 United States Washington Mutual United States JPMorgan Chase Savings and Loan Association $1,900,000,000
September 26, 2008 United States Lehman Brothers Japan Nomura Holdings Investment Bank $1,300,000,000
September 28, 2008 United Kingdom Bradford & Bingley United Kingdom Government of the United Kingdom Spain Grupo Santander Building Society £12,000,000
September 28, 2008 Belgium Netherlands Luxembourg Fortis Netherlands ABN AMRO France BNP Paribas Retail and Commercial Bank 11,200,000,000
September 30, 2008 Belgium Dexia Belgium France Luxembourg The Belgian, French and Luxembourg governments Retail and Commercial Bank 6,400,000,000
October 3, 2008 United States Wachovia United States Wells Fargo Universal Bank $15,000,000,000
October 7, 2008 Iceland Landsbanki Iceland Icelandic Financial Supervisory Authority Retail and Commercial Bank 3,800,000,000
October 8, 2008 Iceland Glitnir Iceland Icelandic Financial Supervisory Authority Retail and Commercial Bank 2,950,000,000
October 9, 2008 Iceland Kaupthing Bank Iceland Icelandic Financial Supervisory Authority Retail and Commercial Bank 1,140,000,000
October 13, 2008 United Kingdom Royal Bank of Scotland Group United Kingdom Government of the United Kingdom Universal Bank £20,000,000,000
October 13, 2008 United Kingdom HBOS United Kingdom Government of the United Kingdom Building Society £13,000,000,000
October 13, 2008 United Kingdom Lloyds TSB United Kingdom Government of the United Kingdom Universal Bank £4,000,000,000
October 14, 2008 United States Bank of America United States United States Federal Government Universal Bank $45,000,000,000
October 14, 2008 United States Bank of New York Mellon United States United States Federal Government Universal Bank $3,000,000,000
October 14, 2008 United States Goldman Sachs United States United States Federal Government Investment Bank $10,000,000,000
October 14, 2008 United States JP Morgan United States United States Federal Government Universal Bank $25,000,000,000
October 14, 2008 United States Morgan Stanley United States United States Federal Government Investment Bank $10,000,000,000
October 14, 2008 United States State Street United States United States Federal Government Universal Bank $2,000,000,000
October 14, 2008 United States Wells Fargo United States United States Federal Government Universal Bank $25,000,000,000
October 17, 2008 Switzerland UBS Switzerland Swiss National Bank Investment Bank $59,200,000,000
October 22, 2008 Netherlands ING Group Netherlands Government of the Netherlands Universal Bank 10,000,000,000
November 23, 2008 United States Citigroup United States United States Federal Government Universal Bank $300000000000
January 10, 2009 United States IndyMac Bank United States OneWest Bank Retail and Commercial Bank $13,900,000,000
January 15, 2009 Republic of Ireland Anglo Irish Bank Republic of Ireland Government of the Republic of Ireland Retail and Commercial Bank 1,230,000,000
February 11, 2009 Republic of Ireland Allied Irish Bank Republic of Ireland Government of the Republic of Ireland Retail and Commercial Bank 3,500,000,000
January 15, 2009 Republic of Ireland Bank of Ireland Republic of Ireland Government of the Republic of Ireland Retail and Commercial Bank 3,500,000,000
October 31, 2011 United States MF Global United States US Securities and Exchange Commission Diversified Financial Services $43,000,000,000
May 25, 2012 Spain Bankia Spain Government of Spain Savings and Loan Association 19,000,000,000

References[edit]