With most firms now having reported their second-quarter earnings, and therefore writedowns and credit losses, we thought we'd update our credit crunch writedown league table.

We've taken the total of writedowns / credit losses sustained by firms since the credit crunch commenced 12 months ago, and divided it by the number of staff we estimate were on the books at that time.

Here are the results:

1. IKB - $14.73bn writedowns / credit losses, 1,839 employees, $8,009,788 per employee

2. Merrill Lynch - $46.8bn, 65,000, $720,000

3. Bayerische Landesbank - $6.75bn, 10,080, $669,642

4. WestLB - $3.1bn, 6,147, $504,311

5. UBS - $44.2bn, 87,000, $508,045

6. Morgan Stanley - $11.7bn, 46,390, $252,209

7. Lehman Brothers - $7.03bn, 30,000, $243,333

8. Dresdner Bank - $5.0bn, 25,622, $195,144

9. LBBW - $1.7bn, 10,000, $170,000

10. Credit Suisse - $8.13bn, 49,000, $165,918

11. CIBC - $6.3bn, 38,200, $164,921

12. Goldman Sachs - $4.9bn, 30,000, $163,333

13 Citi - $57.5bn - 374,000, $153,743

14. AIG - $16.77bn - 116,000, $145,568

15. Deutsche Bank - $11.4bn, 80,253, $142,050

16. Nomura Holdings - $2.46bn, 18,026, $136,469

17. Mizuho Financial Group - $6.24bn, 48,758, $127,978

18. Wachovia - $11.58bn, 119,952, $96,538

19. Natixis - $2.0bn, 21,959, $91,078

20. Credit Agricole - $6.9bn (awaiting Q2 figures), 86,866, $79,432

21. Bank of America - $15.31bn, 209,000, $73,253

22. Royal Bank of Scotland - $16.5bn, 233,600, $70,634

23. Barclays Bank - $9.2bn, 146,600, $67,755

24. HSBC - $18.7bn, 320,000, $58,437

25. Fortis - $3.1bn, 62,524, $49,580

26. JPMorgan Chase / Bear Stearns - $8.7bn, 193,000, $45,077

27. Societe Generale - $6.4bn, 153,855, $41,597

28. Commerzbank - $1.24bn, 41,622, $29,791

29. Royal Bank of Canada - $1.5bn, 67,200, $22,231

30. Sumitomo - $1.19bn, 65,494, $18,170

31. BNP Paribas - $2.7bn, 162,687, $16,596

32. UniCredit - $2.7bn, 177,571, $15,205

33. Mitsubishi UFJ - $1.19bn, 78,300, $15,197

Data Sources - Here is The City, Reuters

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Capital Raised Per Firm Employee - League Table

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