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Twenty-Five Largest Banking Companies

Company Name and Business Segments Net Operating
Income*
($ in million)
Percentage
1. CitiGroup, Inc.
1. Global Consumer 2,009 49%
2. Global Corporate and Investment Bank 1,445 36%
3. Global Investment Management 505 12%
4. Property and Casualty 256 6%
5. Investment Activities (190) -5%
6. Corporate 34 1%
4,059 100%
2. J.P. Morgan Chase & Co.
1. Investment Bank 485 34%
2. Retail & Middle Market Financial Services 686 48%
3. Treasury & Securities Services 177 12%
4. Investment Management & Private Banking 118 8%
5. JP Morgan Partners (165) -12%
6. Corporate 122 9%
1,423 100%
3. Bank of America Corporation
1. Consumer and Commercial Banking 1,443 65%
2. Global Corporate and Investment Banking 560 25%
3. Corporate Other 199 9%
4. Asset Management 72 3%
5. Equity Investment (53) -2%
2,221 100%
4. Wachovia Corporation
1. General Bank 596 62%
2. Corporate and Investment Bank 159 17%
3. Capital Management 89 9%
4. Wealth Management 45 5%
5. Parent 68 7%
957 100%
5. Wells Fargo & Company
1. Community Banking 1,001 70%
2. Wholesale Banking 346 24%
3. Wells Fargo Financial 75 5%
1,422 100%
6. Bank One Corporation
1. Retail 348 43%
2. Credit Cards 296 37%
3. Commercial Banking 144 18%
4. Investment Management 115 14%
5. Corporate/Unallocated (100) -12%
803 100%
7. FleetBoston Financial Corporation
1. Wholesale Banking 312 NM
2. Personal Financial Services 265 NM
3. Capital Markets (23) NM
3. International Banking (475) NM
4. All Others (185) NM
(106) NM
8. U.S.Bancorp. **
1. Consumer Banking 397 46%
2. Wholesale Banking 379 44%
3. Payment Services 169 19%
4. Private Client, Trust and Asset Management 119 14%
5. Capital Markets 11 1%
6. Treasury and Corporate Support (206) -24%
870 100%
9. SunTrust Banks, Inc.
NA
10. National City Corporation
1. Retail Sales and Distribution 135 34%
2. National City Mortgage 114 29%
3. Wholesale Banking 77 20%
4. Parent and Other (31) -8%
5. Consumer Finance 60 15%
6. Asset Management 26 7%
7. National Processing 12 3%
393 100%
11. KeyCorp
1. Key Corporate Finance 100 40%
2. Key Consumer Banking 115 46%
3. Key Capital Partners 42 17%
4. Other Segments (8) -3%
249 100%
12. Bank of New York Company, Inc.
NA
13. BB&T Corporation
NA
14. State Street Corporation
NA
15. Fifth Third Bancorp
NA
16. PNC Financial Services Group, Inc.
1. Banking Businesses 258 81%
2. Asset Management and Processing 87 27%
3. Other -25 -8%
320 100%
17. Comerica Incorporated
NA
18. SouthTrust Corporation
NA
19. Regions Financial Corporation
NA
20. AmSouth Bancorporation
NA
21. Northern Trust Corporation
NA
22. Charter One Financial, Inc.
NA
23. Union BanCal Corporation
NA
24. Mellon Financial Corporation***
1. Corporate and Institutional Services 148 47%
2. Asset Management 170 53%
318 100%
25. Popular, Inc.
NA

* Net operating income represents after-tax earnings of banking companies from their main lines of business. Net operating income is defined as net income before extraordinary items and nonrecurring items. Nonrecurring items may be classified and defined differently by different banking companies.

** U.S. Bancorp.'s segment income represents pre-tax income before merger and restructuring-related items, cumulative effect of changes in accounting principles and provisions for credit losses.

*** Mellon Financial Corp.'s segment income represents pre-tax net operating income.

Last Updated 08/08/2002 insurance-research@fdic.gov