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Twenty-Five Largest Banking Companies

25 Largest Banking Companies
Business Segments
(Based on each company's internal business segment classifications)
Company Name and Business Segments Net Operating
Income*
($ in million)
Percentage
1. CitiGroup, Inc.
1. Global Consumer 1,952 51%
2. Global Corporate 1,182 31%
3. Global Investment Management & Private Banking 406 11%
4. Property and Casualty 327 8%
5. Investment Activities 70 2%
6. Corporate (78) -2%
Total 3,859 100%
2. J.P. Morgan Chase & Co.
1. The Investment Bank 755 66%
2. Retail & Middle Market Financial Services 526 46%
3. Treasury & Securities Services 141 12%
4. Investment Management & Private Banking 126 11%
5. JP Morgan Partners (248) -22%
6. Corporate (150) -13%
Total 1,150 100%
3. Bank of America Corporation
1. Consumer and Commercial Banking 1,418 65%
2. Global Corporate and Investment Banking 503 23%
3. Corporate Other 148 7%
4. Asset Management 142 7%
5. Equity Investment (32) -1%
Total 2,179 100%
4. Wachovia Corporation
1. General Bank 550 61%
2. Corporate and Investment Bank 210 23%
3. Capital Management 82 9%
4. Wealth Management 43 5%
5. Parent 23 3%
Total 908 100%
5. Wells Fargo & Company
1. Community Banking 980 72%
2. Wholesale Banking 303 22%
3. Wells Fargo Financial 84 6%
Total 1,367 100%
6. Bank One Corporation
1. Retail 343 44%
2. Credit Cards 239 30%
3. Commercial Banking 143 18%
4. Investment Management 114 14%
5. Corporate/Unallocated (52) -7%
Total 787 100%
7. FleetBoston Financial Corporation
1. Wholesale Banking 311 42%
2. Personal Financial Services 263 36%
3. International Banking 79 11%
4. All Others 82 11%
Total 735 100%
8. U.S. Bancorp. **
1. Consumer Banking 673 41%
2. Wholesale Banking 584 36%
3. Payment Services 339 21%
4. Private Client, Trust and Asset Management 183 11%
5. Capital Markets 24 1%
6. Treasury and Corporate Support (168) -10%
Total 1,635 100%
9. SunTrust Banks, Inc.
NA
10. National City Corporation
1. Retail Sales and Distribution 134 30%
2. National City Mortgage 101 23%
3. Wholesale Banking 62 14%
4. Parent and Other 64 14%
5. Consumer Finance 46 10%
6. Asset Management 27 6%
7. National Processing 12 3%
Total 446 100%
11. KeyCorp
1. Key Corporate Finance 109 45%
2. Key Consumer Banking 102 43%
3. Key Capital Partners 36 15%
4. Other Segments (7) -3%
Total 240 100%
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 234 74%
2. Asset Management and Processing 81 25%
3. Other 2 1%
Total 317 100%
17. Comerica Incorporated
NA
18. SouthTrust Corporation
NA
19. Regions Financial Corporation
NA
20. AmSouth Bancorporation
NA
21. Northern Trust Corporation
NA
22. Union BanCal Corporation
NA
23. Mellon Financial Corporation***
1. Corporate and Institutional Services 161 51%
2. Asset Management 154 49%
Total  315 100%
24. Union Planters Corporation
NA
25. M&T Bank Corporation
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 05/07/2002 insurance-research@fdic.gov