Table 3

Ranking of banks based on the surplus of the E-ΔCoVaR over ΔCoVaR: Subperiods

BankCountry2007–20092010–20132014–20192020–20212022–2023
Intesa San Paolo S.p.AItaly9.01%6.50%7.33%5.27%2.17%
Société Générale S.A.France12.63%5.14%5.57%4.90%3.40%
Deutsche Bank A.G.Germany13.61%9.50%4.54%5.05%7.36%
Commerzbank A.G.Germany9.72%8.05%12.46%8.87%6.75%
KBC Group N.V.Brussels11.08%11.65%11.59%8.95%7.50%
UniCredit S.p.AItaly11.87%10.45%12.23%9.54%8.01%
ING Bank N.V.The Netherlands12.05%11.97%9.82%13.33%7.10%
Skandinaviska Enskilda Banken A.B.Sweden15.24%11.96%9.87%8.68%10.86%
Swedbank A.B.Sweden23.83%14.61%13.56%15.65%7.63%
Erste Group Bank A.G.Austria36.81%19.28%17.54%18.18%12.21%
Eurobank E.S.&H. S.A.Greece27.88%27.84%22.57%31.93%15.07%
OTP Bank NyrtHungary35.14%32.03%27.50%22.54%12.31%
Raiffeisen Bank IA.G.Austria64.02%34.05%24.52%31.51%20.01%
ING Bank Śląski S.A.Poland73.80%70.06%36.13%11.24%4.80%
BRD – Groupe Société Générale S.A.Romania  60.48%35.43%19.07%
VTB PAORussia55.17%41.05%39.45%45.47% 
mBank S.A.Poland 52.96%65.40%23.07%11.41%
Banca Transilvania S.A.Romania  84.99%23.65%17.60%
Sberbank PA.O.Russia77.96%57.08%55.07%37.60% 
Powszechna Kasa Oszczędności Bank Polski S.A.Poland77.98%79.43%65.17%42.64%22.10%
Source(s): Own elaboration

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