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Fourth-Quarter Operating Performance of Major U.S. Banks: Maintaining a Delicate Balance Feb 03 Product Image

Fourth-Quarter Operating Performance of Major U.S. Banks: Maintaining a Delicate Balance Feb 03

  • ID: 1790835
  • February 2003
  • Region: United States
  • Standard & Poors

FEATURED COMPANIES

  • Bank of America Corp.
  • BB&T Corp.
  • Citigroup Inc.
  • Fifth Third Bancorp
  • JPMorgan Chase & Co.
  • Merrill Lynch & Co. Inc.
  • MORE

Abstract
The past year was a challenging one for the major U.S. banks, as they charged off credit exposures to those firms engaged in fraud and suspect corporate governance. Just as the very high level of write-downs to telecom and high-tech firms declined, exposure to airlines and merchant energy firms took its place on the criticized loans lists, and now both airlines and merchant energy industry problems will require write-downs in 2003. "A dismal investment bank environment, poor stock valuations, and related weak brokerage business, coupled with the embarrassing and costly stock research issues at many of the largest banks and brokers, led to weak profitability," said credit analyst Robert Swanton. Against this backdrop, Latin America continues to be a problem...

Companies mentioned in this report are:
- Wachovia Corporation
- Merrill Lynch & Co. Inc.
- Bank of America Corp.
- Wells Fargo & Co.
- U.S. Bancorp
- Fifth Third Bancorp
- BB&T Corp.
- Citigroup Global Markets Inc.
- FleetBoston Financial Corp.
- JPMorgan Chase & Co.
- Citigroup Inc.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage READ MORE >

- Wachovia Corporation
- Merrill Lynch & Co. Inc.
- Bank of America Corp.
- Wells Fargo & Co.
- U.S. Bancorp
- Fifth Third Bancorp
- BB&T Corp.
- Citigroup Global Markets Inc.
- FleetBoston Financial Corp.
- JPMorgan Chase & Co.
- Citigroup Inc.

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