German (public) banks still dominate Europe's Top 10, based on operating coefficient. The daily financial paper Les Echos published on Tuesday the second part of its annual two-part survey on Europe's top 100 banks. After yesterday's review of the outcome results based on equity earnings, EUROPE takes a look today at the ranking in terms of operating coefficient. The operating coefficient is the ratio of a bank's general expenses to earnings. The lower the coefficient, the more earnings remain, once general expenses have been paid, to cover risks and produce profits. Along with equity earnings, the operating coefficient is a key criterion for shareholders, measuring a bank's profitability and efficacy. The ranking reveals that: 1) the leading groups are geared towards retail banking, especially in the United Kingdom (HALIFAX, 8th, and BANK OF SCOTLAND, 12th) and, to a lesser measure, in the Iberian peninsula (BANCO POPULAR, 11th, and BANCO ESPERITO SANTO, 25th); 2) the situation of German banks is quite diverse: while certain public banks (Landesbanken) post very low coefficients and dominate the top 10, private banks lag behind in the Top 100; 3) French banks are improving their results, but not enough to stand out in the ranking. After the Franco-Belgian bank DEXIA (37th), the next best, BANQUES POPULAIRES, is in 56th place, and even though its coefficient is improving, it is sliding in the ranking; 4) the most obvious changes are the entry in the Top 10 of LANDWIRTSCHAFTLICHE RENTENBANK, MEDIOBANCA and GZ BANK, in 2nd, 7th and 10th place respectively. Last year, none of the three even made the Top 100 ranking. Also impressive is the rise by SVENSKA HANDELSBANKEN (Sweden) from 26th to 9th place.