Deutsche Bank dropped 10.9% and Commerzbank was
last down 8.5%. French banks BNP Paribas and Societe
Generale saw declines of around 8.2% and 7.5%,
respectively.
Standard Chartered shares fell to bottom of the
FTSE 350 index - down 7.7% - while Natwest and Barclays
fell 7.8% and 7.4%, respectively.
(Reporting by Lucy Raitano; Editing by Amanda Cooper)
LONDON, March 20 (Reuters) - Shares in European banks
were battered in early trade on Monday following an
unprecedented weekend that saw the historic state-backed rescue
of Credit Suisse by UBS and a coordinated
central bank effort to bolster the flow of cash around the
world.
Shares in Credit Suisse fell over 63% while UBS
Group shares were down 12.9%.
An index of bank stocks was down 5.8% at 0821 GMT.
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