Nations Bank, First Chicago post earnings gains

Article Abstract:

First Chicago NBD Corp. and Charlotte, NC-based NationsBank Corp. reported better-than-expected earnings for the second quarter caused by an increase in fee income. NationsBank said that net income increased 53% compared to the same period of 1997. First Chicago reported gains of 8% over the previous year. Earnings for both companies increased despite the continuing shrinkage of net interest margins.

Comment:

Reported better-than-expected earnings for second quarter caused by an increase in fee income

Company Planning/Goals, BankAmerica Corp., First Chicago NBD Corp., Article

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BankAmerica profit slides 20% amid turbulent markets

Article Abstract:

Based on fourth quarter net income compared with last year's fourth quarter the following banks fared differently: BankAmerica down 20% Chase Manhattan up 31% J.P. Morgan down 67% Bank One down 75% For the full year, 1998 compared with 1997: Bank America down 21% Chase Manhattan up 2% J.P. Morgan down 34% Bank One up 5%

Banking industry, Finance, Abstract

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