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25 September 2020

Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year | Finance Bitcoin News

Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year | Finance Bitcoin News


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Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year.

The world’s largest banks lost a considerable amount of market valuation amid the Covid-19 pandemic, according to a new report that estimates financial incumbents lost $635 billion.

A newly published report written by Buyshares and the researcher Justinas Baltrusaitis, shows that during the first half of 2020, the world’s banks lost a considerable amount of market capitalization.

Buyshares data shows that 14 select “major global banks” lost a combined total of $635.33 billion in market capitalization this year.

Data shows that American banks took the largest hits, but JP Morgan Chase still has a decent market cap ($305.44 billion) today.

The 14 banks that lost market cap saw losses close to 2x the size of the crypto economy.

What do you think about the 14 banks losing $635 billion in market cap in 2020.

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