Alex Fusté (Andbank) | There is a notable difference between US and European banks: the stock market pays 35% less for European banks. This claim is confirmed by the price/book value ratio, whose average for the 10 largest banks in the US sector is 1.24, while in Europe it falls to 0.8%. In the case of the two largest Spanish banks, Banco Santander and BBVA, the market price is even lower than the average, given that they show ratios of 0.8 and o.7 respectively.