ABSTRACT 1. Introduction 2. Data and Variable Definition 2.1 Data 2.2. Scope and diversification index 2.3 Size and Leverag 3. Empirical Results 3.1. Descriptive analysis of Hedgers vs. Speculators 3.2. Degree of concentration 4. Regression results 4.1. Original sample 4.2. How banks get bigger and super-size banks? 4.3. Risk-adjusted performance 5. Concluding remarks References Table