International Comparisons of Bank Margins – August 1994 Appendix 3: Detailed Bank Data

Australia[1]

A. Individual bank data

1986 1987 1988 1989 1990 1991 1992 1993
(million Australian dollars)
ANZ Bank[2]
Average assets 30,123 36,683 44,727 48,641 57,560 65,669 64,191 63,197
Average earning assets 22,000 26,374 30,059 33,888 40,863 47,364 47,792 47,631
Average equity 1,457 1,781 2,027 2,563 2,593 2,912 3,214 3,028
Net interest income 1,171 1,340 1,517 1,616 1,754 1,805 1,746 1,858
Profit before tax 357 544 639 773 185 62 −1,118 318
Profit after tax     321 489 105 5 −800 201
Commonwealth Bank[3]
Average assets 31,498 35,544 42,591 48,882 57,736 70,846 77,486 75,084
Average earning assets 26,203 28,738 33,168 37,935 44,217 54,417 60,745 60,196
Average equity 1,724 1,982 2,463 2,863 3,186 3,855 4,730 4,873
Net interest income 1,304 1,362 1,808 2,029 2,189 2,673 3,027 2,818
Profit before tax 396 311 604 813 829 534 741 702
Profit after tax     247 419 429 220 504 414
National Australia Bank
Average assets 30,041 35,484 42,032 47,376 51,826 52,957 54,454 58,242
Average earning assets 23,727 26,632 29,947 35,048 39,350 40,429 40,697 43,877
Average equity 1,592 1,958 2,384 3,369 3,610 3,908 4,510 4,404
Net interest income 980 1,256 1,896 2,173 2,100 2,044 2,121 2,407
Profit before tax 484 553 813 1,110 899 806 959 1,424
Profit after tax     452 603 480 424 636 733
Westpac Bank
Average assets 37,415 40,975 48,852 61,876 69,331 69,905 69,854 69,806
Average earning assets 31,019 33,065 37,829 47,300 54,166 53,032 54,441 54,329
Average equity 1,982 2,116 2,800 3,705 4,231 4,540 3,992 4,268
Net interest income 1,681 1,879 2,257 2,293 2,676 2,372 1,965 2,006
Profit before tax[4] 540 615 920 926 507 167 −1,429 −308
Profit after tax   246 524 669 392 418 −746 −160

B. National average statistics (weighted average of above 4 banks)

1986 1987 1988 1989 1990 1991 1992 1993
(per cent)
Net interest margin 5.0 5.1 5.7 5.3 4.9 4.6 4.4 4.4
Non-interest income/average assets       1.7 1.8 1.7 1.8 1.8
Total Income/average assets       5.7 5.4 5.1 5.1 5.2
Operating expenses/average assets       3.4 3.3 3.2 3.4 3.5
Profit before provisions and tax/average assets 1.7 1.8 2.1 2.2 2.1 1.9 1.6 1.7
Profit after tax/average assets     0.9 1.1 0.6 0.4 −0.2 0.4
Profit before provisions and tax/average equity 32.6 34.2 38.9 36.7 35.9 32.7 25.5 27.1
Profit after tax/average equity     15.9 17.4 10.3 7.0 −2.5 7.2

Canada[5]

A. Individual bank data

1986 1987 1988 1989 1990 1991 1992 1993
(million Canadian dollars)
Bank of Montreal[6]
Average assets 45,239 46,361 45,941 47,840 49,992 56,033 65,200 70,800
Average earning assets       40,253 42,504 48,817 58,509 64,232
Average equity 1,901 1,898 2,192 2,273 2,380 2,711 3,236 3,587
Net interest income 1,323 1,391 1,516 1,622 1,740 2,056 2,350 2,241
Non-interest income 503 560 700 743 764 860 876 1,026
Operating expenses 1,279 1,356 1,595 1,627 1,725 1,810 1,985 2,088
Charge for bad debts 355 10 1 96 40 180 460 417
Profit after tax 92 295 328 355 423 520 435 355
Bank of Nova Scotia
Average assets 32,200 34,600 40,000 46,900 51,200 53,617 56,272 60,383
Average earning assets       36,958 40,347 44,100 48,700 53,100
Average equity 1,528 1,398 1,719 2,010 2,362 2,746 3,024 3,502
Net interest income 1,118 1,257 1,326 1,416 1,456 1,956 2,060 2,064
Non-interest income 277 324 412 534 571 599 660 743
Operating expenses 866 930 1,039 1,261 1,377 1,529 1,637 1,791
Charge for bad debts 171 119 23 54 78 170 247 334
Profit after tax 180 264 359 350 314 492 467 387
Canadian Imperial Bank of Commerce[7]
Average assets 54,590 57,800 61,800 70,900 82,500 88,100 91,400 101,000
Average earning assets       59,656 70,143 76,755 82,020 91,630
Average equity 1,920 2,247 2,548 3,078 3,418 3,775 3,845 4,166
Net interest income 1,757 1,960 2,085 2,441 2,558 2,991 3,062 3,210
Non-interest income 523 630 806 1,005 1,167 1,363 1,425 1,578
Operating expenses 1,380 1,514 1,762 2,092 2,486 2,711 3,076 3,097
Charge for bad debts 432 430 99 265 316 566 931 899
Profit after tax 239 326 540 618 521 605 265 420
Royal Bank of Canada
Average assets 64,000 68,600 76,500 88,000 96,200 102,800 108,500 112,800
Average earning assets       74,044 81,791 89,562 97,365 102,335
Average equity 3,054 2,982 3,731 4,516 5,102 6,133 5,979 6,277
Net interest income 2,240 2,566 2,739 3,080 3,148 3,325 3,518 3,647
Non-interest income 614 720 941 1,216 1,348 1,378 1,538 1,648
Operating expenses 1,686 1,818 2,054 2,472 2,831 3,100 3,343 3,897
Charge for bad debts 540 675 320 285 437 662 2,203 1,839
Profit after tax 313 400 704 865 701 567 −288 −255
Toronto - Dominion Bank
Average assets 33,680 368% 42,209 47,938 51,445 54,067 54,876 64,192
Average earning assets       40,188 44,155 47,077 48,996 59,000
Average equity 1,856 2,329 2,425 2,935 3,417 3,674 3,789 3,985
Net interest income 1,349 1,598 1,634 1,700 1,787 1,969 1,954 2,040
Non-interest income 307 387 468 597 661 758 764 885
Operating expenses 868 976 1,126 1,299 1,418 1,558 1,664 2,060
Charge for bad debts 341 23 −114 −20 305 372 367 526
Profit after tax 234 508 584 602 407 433 356 131

B. National average statistics (weighted average of above 5 Banks)

1986 1987 1988 1989 1990 1991 1992 1993
(per cent)
Net interest margin       4.1 3.8 4.0 3.9 3.6
Non-interest income/average assets 1.0 1.1 1.3 1.4 1.4 1.4 1.4 1.4
Total income/average assets 4.4 4.7 4.7 4.8 4.6 4.9 4.8 4.7
Operating expenses/average assets 2.6 2.7 2.8 2.9 3.0 3.0 3.1 3.2
Profit before provisions and tax/average assets 1.7 2.0 1.9 1.9 1.6 1.9 1.7 1.5
Profit after tax/average assets 0.5 0.7 0.9 0.9 0.7 0.7 0.3 0.3
Profit before provisions and tax/average equity 38.3 44.2 40.0 37.8 32.2 34.4 32.7 28.6
Profit after tax/average equity 10.3 16.5 19.9 18.8 14.2 13.7 6.2 4.8

New Zealand[8]

A. Individual bank data

1986 1987 1988 1989 1990 1991 1992 1993
(million NZ dollars)
ANZ Bank (New Zealand)[9]
Average assets       8,417 9,699 10,440 10,916 13,951
Average earning assets       7,154 8,244 8,937 9,305 12,483
Average equity       449 515 610 716 808
Net interest income       318 301 333 333 467
Non-interest income       206 215 256 269 370
Operating expenses       306 337 401 412 561
Charge for bad debts       121 68 61 60 160
Profit after tax       77 84 105 98 79
Bank of New Zealand[10]
Average assets       16,994 17,294 18,907 19,709 19,817
Average earning assets       16,238 16,271 17,720 18,639 18,132
Average equity       549 432 840 961 970
Net interest income       564 471 452 483 488
Non-interest income       493 494 357 412 319
Operating expenses       704 675 606 607 615
Charge for bad debts       1,294 193 27 46 −9
Profit after tax       −926 92 134 173 133
National Bank of New Zealand[11]
Average assets       5,926 6,768 7,455 9,273 12,583
Average earning assets       5,533 6,319 7,174 8,364 11,807
Average equity       565 540 573 618 680
Net interest income       262 253 277 337 364
Non-interest income       220 183 197 206 293
Operating expenses       340 309 316 354 435
Charge for bad debts       73 27 38 36 7
Profit after tax       48 67 82 102 151
Westpac Bank (New Zealand)[12]
Average assets       7,672 9,551 10,192 10,564 11,269
Average earning assets       6,905 8,596 9,172 9,507 10,460
Average equity       337 353 389 425 353
Net interest income       261 349 290 313 305
Non-interest income       148 110 191 199 205
Operating expenses       298 323 327 332 336
Charge for bad debts       48 118 21 20 9
Profit after tax       42 24 108 117 115

B. National average statistics (weighted average of above 4 banks)[13]

1986 1987 1988 1989 1990 1991 1992 1993
(per cent)
Net interest margin       3.9 3.5 3.1 3.2 3.1
Non-interest income/average assets       2.7 2.3 2.1 2.2 2.1
Total income/average assets       6.3 5.5 5.0 5.1 4.9
Operating expenses /average assets       4.2 3.8 3.5 3.4 3.4
Profit before provisions and tax/average assets       2.1 1.7 1.5 1.7 1.5
Profit after tax/average assets       −1.9 0.6 0.9 1.0 0.8
Profit before provisions and tax/average equity       43.3 39.8 29.2 31.1 30.7
Profit after tax/average equity       −39.9 14.5 17.8 18.0 17.0

United Kingdom[14]

A. Individual bank data

1986 1987 1988 1989 1990 1991 1992 1993
(million pounds)
Barclays Bank
Assets (end year)             109,487 116,362
Average equity             3,965 3,782
Net interest income             2,772 2,819
Non-interest income             2,418 2,919
Operating expenses             3,470 3,223
Charge for bad debts             1,920 1,286
Profit before tax             −200 1,229
Net interest margin     3.6 4.1 3.9 3.8 3.9 3.9
Lloyds Bank
Assets (end year)             43,836 48,386
Average equity             1,888 2,069
Net interest income             1,709 1,591
Non-interest income             1,417 1,436
Operating expenses             2,213 2,131
Charge for bad debts[15]             428 361
Profit before tax             485 535
Net interest margin     5.4 5.2 5.1 5.3 4.4 3.9
Midland Bank
Assets (end year)             60,490 62,664
Average equity             2,133 2,138
Net interest income             1,278 1,408
Non-interest income             1,430 1,508
Operating expenses             1,943 1,667
Charge for bad debts             565 447
Profit before tax             200 802
Net interest margin     4.9 4.1 3.5 2.6 2.8 2.7
Assets (average)             79,656 79,904
Average equity             3,547 2,981
Net interest income             2,673 2,518
Non-interest income             2,141 2,376
Operating expenses             3,265 3,529
Charge for bad debts             1,533 949
Profit before tax             16 416
Net interest margin     5.4 5.2 4.6 4.2 4.0 3.7

B. National average statistics (weighted average of above 4 banks)

1986 1987 1988 1989 1990 1991 1992 1993
(per cent)
Net interest margin[16] 5.6 5.5 4.8 4.7 4.3 4.0 3.8 3.6
Non-interest income/assets             2.5 2.7
Total income/assets             5.4 5.4
Operating expenses/assets             3.7 3.4
Profit before provisions and tax/assets             1.7 2.0
Profit before provisions and tax/average equity             42.9 54.9

United States[17]

A. Individual bank data

1986 1987 1988 1989 1990 1991 1992 1993
(million U.S. dollars)
ABN AMRO North America Inc.
Average assets       3,869 6,585 7,681 13,412 16,739
Average earning assets       3,239 5,961 7,145 12,619 15,820
Average equity       415 595 524 1,059 1,160
Net interest income       127 252 307 448 547
Non-interest income       56 78 105 204 203
Operating expenses       128 354 240 456 542
Charge for bad debts       15 22 47 60 52
Profit after tax       27 −88 75 72 87
AmSouth
Average assets       8,280 8,510 8,843 9,192 11,099
Average earning assets       7,458 7,696 8,052 8,394 10,249
Average equity       558 570 640 750 930
Net interest income       286 282 342 396 482
Non-interest income       118 123 160 166 201
Operating expenses       261 273 331 365 428
Charge for bad debts       43 31 42 37 19
Profit after tax       63 77 80 102 146
Banc One Corp.
Average assets   21,854 23,484 43,323 49,174 56,498 72,753 74,716
Average earning assets   19,724 21,254 38,767 41,573 48,184 65,088 66,282
Average equity   1,693 1,932 3,262 3,824 4,637 5,886 6,552
Net interest income   1,093 1,141 1,954 2,178 2,718 3,892 4,169
Non-interest income   350 463 914 1,042 1,299 1,441 1,494
Operating expenses   839 892 1,837 2,031 2,520 3,354 3,512
Charge for bad debts   208 183 589 438 576 604 366
Profit after tax   232 340 274 501 626 877 1,140
Bancorp Hawaii
Average assets   5,232 5,978 7,010 9,202 10,826 11,645 12,586
Average earning assets   4,863 5,577 6,526 8,623 10,159 10,957 11,894
Average equity   351 405 444 561 685 785 893
Net interest income   213 249 293 356 412 445 476
Non-interest income   60 110 76 83 94 113 130
Operating expenses   168 197 214 248 288 314 336
Charge for bad debts   17 31 21 28 29 50 54
Profit after tax   54 75 80 96 113 128 133
Bankmont Financial Corp.
Average assets   10,607 11,955 14,015 15,225 17,711 19,265 18,388
Average earning assets   7,065 7,978 8,964 13,305 15,813 17,318 16,466
Average equity   849 917 980 1,051 1,157 1,256 1,375
Net interest income   366 403 430 443 487 497 473
Non-interest income   209 224 240 269 298 339 357
Operating expenses   385 427 454 499 531 566 574
Charge for bad debts   91 54 112 58 80 77 72
Profit after tax   45 88 50 83 103 113 121
Barnett Banks, Inc.
Average assets   22,252 24,483 32,572 36,122 37,900 37,923 37,356
Average earning assets   20,067 22,050 29,030 32,431 34,110 33,923 33,525
Average equity   1,245 1,407 2,000 2,074 2,132 2,506 2,734
Net interest income   1,001 1,065 1,362 1,492 1,569 1,737 1,700
Non-interest income   292 338 443 452 546 622 598
Operating expenses   848 933 1,169 1,318 1,497 1,737 1,502
Charge for bad debts   113 110 173 491 455 258 120
Profit after tax   193 228 296 56 81 208 421
Boatmen's Bancshares
Average assets   14,635 14,348 19,050 19,732 21,567 23,126 24,969
Average earning assets   12,773 12,599 16,781 17,639 19,277 20,761 22,286
Average equity   980 1,045 1,367 1,436 1,583 1,762 1,981
Net interest income   502 506 676 699 781 913 1,016
Non-interest income   209 198 276 298 356 451 494
Operating expenses   441 495 606 651 753 872 951
Charge for bad debts   92 88 93 120 114 136 60
Profit after tax   96 70 164 145 171 229 317
Comerica
Average assets   18,581 19,662 22,466 24,332 26,365 26,510 27,236
Average earning assets   17,033 18,106 20,656 22,379 24,423 24,492 25,010
Average equity   1,123 1,189 1,324 1,485 1,739 1,951 2,138
Net interest income   715 755 872 976 1,094 1,158 1,163
Non-interest income   208 263 292 348 385 411 463
Operating expenses   598 649 755 849 944 1,092 1,038
Charge for bad debts   162 69 146 100 105 111 68
Profit after tax   82 214 188 248 280 240 340
Continental Bank Corp.
Average assets   29,429 29,282 29,373 29,709 24,617 22,032 21,437
Average earning assets   25,877 26,587 26,171 25,678 21,236 18,623 17,635
Average equity   1,789 1,470 1,690 1,667 1,617 1,597 1,827
Net interest income   600 635 552 511 495 494 467
Non-interest income   294 398 452 437 478 476 641
Operating expenses   644 641 652 722 679 597 684
Charge for bad debts   724 18 44 119 340 126 180
Profit after tax   −610 316 147 75 −76 222 338
CoreStates Financial Corp.
Average assets   20,309 21,339 23,659 23,625 23,049 22,349 25,171
Average earning assets   17,699 18,640 20,824 20,733 20,298 19,321 21,739
Average equity   1,380 1,414 1,657 1,554 1,520 1,616 1,990
Net interest income   881 958 1,060 1,101 1,122 1,084 1,243
Non-interest income   290 335 379 413 542 548 544
Operating expenses   743 822 963 978 1,097 1,095 1,223
Charge for bad debts   197 124 308 328 191 118 229
Profit after tax   109 263 116 129 228 181 199
Crestar Financial Corp.
Average assets   9,843 10,408 10,659 11,674 11,441 11,920 12,585
Average earning assets   8,639 9,219 9,486 10,484 10,321 10,669 11,295
Average equity   613 654 722 772 791 842 1,044
Net interest income   396 396 414 442 443 498 540
Non-interest income   144 141 148 167 233 218 248
Operating expenses   345 340 362 378 406 502 524
Charge for bad debts   77 53 45 131 209 99 49
Profit after tax   57 89 104 61 34 80 141
First Bank System
Average assets   28,052 25,990 28,609 25,856 23,075 23,592 25,575
Average earning assets   25,812 24,098 26,038 23,620 20,921 21,014 22,700
Average equity   1,412 1,373 1,582 1,500 1,683 2,094 2,310
Net interest income   743 629 898 874 941 1,019 1,151
Non-interest income   306 −182 486 437 498 536 570
Operating expenses   603 621 1,090 980 969 1,114 1,100
Charge for bad debts   261 75 335 215 203 184 125
Profit after tax   24 −309 −87 57 207 312 298
First Chicago Corp.
Average assets   43,519 45,952 48,534 53,097 52,655 54,768 56,854
Average earning assets   39,084 40,727 42,287 45,512 44,474 46,584 48,359
Average equity   2,092 2,069 2,546 2,767 2,900 3,357 3,889
Net interest income   1,227 1,218 1,281 1,242 1,116 1,216 1,262
Non-interest income   740 1,034 1,136 1,200 1,227 1,490 2,200
Operating expenses   1,240 1,319 1,451 1,566 1,595 1,764 1,859
Charge for bad debts   1,306 257 471 520 442 915 267
Profit after tax   −571 513 359 249 116 94 805
First Fidelity Bancorp.
Average assets   26,674 29,324 28,801 29,808 28,727 29,475 31,509
Average earning assets   23,882 26,562 26,041 27,350 26,265 26,929 28,410
Average equity   1,623 1,700 1,584 1,500 1,613 2,066 2,463
Net interest income   1,072 1,100 1,060 1,061 1,103 1,247 1,386
Non-interest income   253 287 351 364 394 333 384
Operating expenses   872 935 945 882 870 917 1,015
Charge for bad debts   243 290 202 498 299 227 148
Profit after tax   86 34 160 −6 221 314 399
First Interstate Bancorp.
Average assets   51,562 56,944 57,520 54,205 49,126 49,031 49,319
Average earning assets   44,269 49,541 50,157 46,599 42,011 41,511 42,489
Average equity   2,661 2,263 2,551 2,606 2,769 2,938 3,476
Net interest income   2,222 2,477 2,508 2,358 2,117 2,030 2,086
Non-interest income   825 974 1,156 1,203 1,184 912 952
Operating expenses   2,377 2,540 2,548 2,564 2,731 2,211 2,032
Charge for bad debts   1,253 592 1,202 499 811 314 113
Profit after tax   −604 129 −125 469 −288 282 737
First of America
Average assets   10,142 11,135 14,873 15,804 16,798 19,574 20,545
Average earning assets   9,191 10,087 13,581 14,455 15,373 18,080 19,023
Average equity   693 813 1,078 1,131 1,221 1,298 1,411
Net interest income   500 568 672 711 779 900 925
Non-interest income   141 149 167 182 210 260 292
Operating expenses   463 514 558 602 665 797 764
Charge for bad debts   33 38 43 44 71 78 84
Profit after tax   113 122 152 155 160 148 247
First Union Corp.
Average assets   25,738 28,011 43,226 52,101 55,101 61,146 68,101
Average earning assets   22,895 24,866 39,164 46,878 49,577 53,711 59,855
Average equity   1,715 1,833 2,766 3,235 3,455 4,231 4,840
Net interest income   1,161 1,174 1,625 1,870 2,028 2,562 2,867
Non-interest income   448 445 545 688 1,052 1,064 1,199
Operating expenses   1,006 1,062 1,431 1,657 1,890 2,525 2,520
Charge for bad debts   82 62 138 427 650 416 225
Profit after tax   283 297 354 262 349 385 818
Fleet Financial Group, Inc.
Average assets   24,848 27,096 29,798 34,363 38,839 45,166 45,966
Average earning assets   22,142 24,127 27,034 31,821 35,412 41,222 41,479
Average equity   1,754 1,942 2,182 2,176 2,279 2,617 3,461
Net interest income   1,118 1,233 1,341 1,247 1,445 1,983 2,082
Non-interest income   480 499 575 735 1,084 1,369 1,466
Operating expenses   1,031 1,065 1,129 1,289 1,818 2,317 2,422
Charge for bad debts   186 106 161 763 509 488 271
Profit after tax   200 336 371 −74 98 280 488
Firstar Corporation
Average assets   7,106 7,352 10,355 11,104 11,623 12,170 12,857
Average earning assets   6,222 6,483 9,108 9,798 10,321 10,831 11,475
Average equity   479 506 750 825 870 982 1,127
Net interest income   285 323 348 466 516 571 598
Non-interest income   160 233 226 249 272 301 342
Operating expenses   293 330 430 465 516 557 588
Charge for bad debts   168 35 53 49 50 45 24
Profit after tax   −45 135 111 118 134 166 204
Huntington Bancshares, Inc.
Average assets   8,715 9,430 12,248 13,490 13,613 15,165 16,852
Average earning assets   7,767 8,447 11,069 12,252 12,446 13,921 15,523
Average equity   576 605 815 917 978 1,073 1,215
Net interest income   364 381 472 507 566 713 807
Non-interest income   114 114 149 165 196 250 305
Operating expenses   304 318 391 438 493 632 659
Charge for bad debts   77 28 44 77 63 82 79
Profit after tax   57 98 123 100 134 161 237
Integra Financial Corp.
Average assets       10,181 10,808 11,410 12,703 13,561
Average earning assets       9,370 10,084 10,853 12,139 12,899
Average equity       744 740 602 735 832
Net interest income       447 452 445 520 555
Non-interest income       124 123 121 173 136
Operating expenses       395 456 400 476 408
Charge for bad debts       97 209 72 97 50
Profit after tax       58 −114 62 61 213
KeyCorp
Average assets   11,341 13,352 45,818 55,268 51,996 52,353 57,051
Average earning assets   10,032 11,904 40,705 43,027 47,028 47,423 51,679
Average equity   768 857 3,021 3,048 3,376 3,723 4,176
Net interest income   539 604 1,860 1,923 2,215 2,518 2,744
Non-interest income   174 175 600 746 848 927 1,004
Operating expenses   496 543 1,640 1,818 2,064 2,173 2,385
Charge for bad debts   79 45 307 520 468 340 211
Profit after tax   73 120 287 256 314 592 710
Marine Midland Banks
Average assets   24,456 26,190 26,839 25,072 17,934 16,458 16,827
Average earning assets   22,222 24,232 24,912 23,257 16,086 14,649 15,252
Average equity   1,243 1,103 1,273 1,138 1,044 1,135 1,281
Net interest income   924 1,037 1,006 867 687 667 717
Non-interest income   315 314 392 416 339 385 84
Operating expenses   888 901 942 985 965 853 761
Charge for bad debts   736 225 413 557 230 72 −114
Profit after tax   −409 161 14 −296 −190 109 173
Mellon Bank Corp.
Average assets   32,565 30,237 30,555 30,216 29,050 29,889 34,736
Average earning assets   29,370 27,437 27,697 26,640 25,502 26,254 29,988
Average equity   1,473 1,161 1,438 1,740 1,905 2,349 3,167
Net interest income   928 889 859 900 1,002 1,166 1,316
Non-interest income   791 726 785 822 848 971 1,275
Operating expenses   1,404 1,279 1,103 1,181 1,264 1,450 1,858
Charge for bad debts   1,055 321 296 314 250 185 125
Profit after tax   −844 −65 210 174 280 437 361
Meridian Bancorp, Inc.
Average assets   7,961 8,662 10,219 11,625 11,149 13,624 14,165
Average earning assets   7,234 7,811 10,172 11,625 11,773 12,453 12,908
Average equity   595 646 688 725 733 1,007 1,113
Net interest income   341 358 446 491 526 594 640
Non-interest income   60 118 147 188 261 243 285
Operating expenses   252 302 383 432 486 561 637
Charge for bad debts   21 33 31 141 107 68 57
Profit after tax   75 82 106 37 118 137 158
Midlantic Corp.
Average assets   16,820 18,628 21,192 23,908 21,802 16,278 13,746
Average earning assets   14,800 16,679 19,174 21,708 19,838 14,736 12,398
Average equity   1,073 1,246 1,441 1,455 1,032 778 971
Net interest income   752 829 926 873 661 529 506
Non-interest income   155 181 216 299 257 301 195
Operating expenses   500 544 604 724 828 663 602
Charge for bad debts   116 101 191 693 641 138 78
Profit after tax   162 223 206 −195 −543 7 170
National City Corp.
Average assets   18,734 19,695 26,357 28,564 29,343 28,635 28,834
Average earning assets   16,674 17,709 23,828 25,708 26,285 25,679 25,590
Average equity   1,206 1,266 1,773 1,915 2,155 2,361 2,606
Net interest income   804 861 1,118 1,157 1,185 1,194 1,228
Non-interest income   375 416 496 583 675 750 813
Operating expenses   718 766 980 1,114 1,241 1,311 1,347
Charge for bad debts   240 144 158 231 252 129 92
Profit after tax   129 233 305 249 237 347 404
NationsBank
Average assets   652% 70,818 101,339 113,692 115,792 115,047 134,400
Average earning assets   57,189 62,089 89,743 100,655 103,061 102,139 119,127
Average equity   3,764 4,280 5,271 6,198 6,516 7,299 8,626
Net interest income   2,533 2,670 3,608 3,775 3,937 4,188 4,717
Non-interest income   973 1,013 1,419 1,603 1,737 1,910 2,097
Operating expenses   2,214 2,287 3,223 3,468 3,844 3,969 4,287
Charge for bad debts   346 312 415 1,023 1,586 713 430
Profit after tax   542 702 954 595 202 1,146 1,501
NatWest Holdings, Inc.
Average assets   11,423 22,651 21,401 23,301 22,429 22,625 24,113
Average earning assets   10,262 15,552 17,973 20,657 20,107 20,513 21,350
Average equity   535 1,412 1,722 1,794 1,818 1,893 2,082
Net interest income   384 650 740 783 738 769 820
Non-interest income   163 260 278 289 359 414 506
Operating expenses   412 682 683 811 866 867 952
Charge for bad debts   351 93 422 597 567 122 94
Profit after tax   −237 120 −136 −366 −369 159 304
NBD Bancorp
Average assets   23,085 24,214 33,538 35,592 37,125 39,624 39,992
Average earning assets   20,539 21,744 39,906 32,231 33,870 36,194 36,396
Average equity   1,341 1,475 2,236 2,458 2,662 2,885 3,115
Net interest income   820 874 1,261 1,331 1,429 1,589 1,660
Non-interest income   254 254 392 413 471 531 584
Operating expenses   665 705 1,006 1,057 1,162 1,339 1,324
Charge for bad debts   118 51 114 149 167 230 120
Profit after tax   173 239 351 349 362 300 486
Northern Trust
Average assets   8,400 9,133 10,522 11,682 12,183 13,418 15,700
Average earning assets   7,293 7,991 9,274 10,263 10,599 11,605 13,686
Average equity   485 464 549 639 756 932 1,070
Net interest income   227 256 274 287 318 344 363
Non-interest income   255 309 332 369 413 510 553
Operating expenses   343 389 428 465 501 585 628
Charge for bad debts   179 20 16 14 30 30 19
Profit after tax   −65 109 113 115 127 150 168
Norwest Corp.
Average assets   21,265 22,048 33,522 36,731 40,605 42,851 47,438
Average earning assets   24,015 24,966 30,377 33,316 36,596 38,770 43,110
Average equity   1,360 1,324 2,115 2,197 2,673 3,033 3,337
Net interest income   1,114 1,188 1,327 1,469 1,742 2,117 2,410
Non-interest income   583 567 711 871 1,031 1,230 1,542
Operating expenses   1,182 1,272 1,455 1,668 1,941 2,438 2,842
Charge for bad debts   457 179 225 430 402 266 142
Profit after tax   −34 233 275 156 401 364 654
PNC Financial Corp.
Average assets   34,151 38,771 42,083 45,716 42,793 44,744 50,321
Average earning assets   31,170 35,574 38,846 42,489 40,040 42,190 47,264
Average equity   2,194 2,447 2,793 2,731 2,786 3,444 3,967
Net interest income   1,178 1,338 1,414 1,445 1,493 1,700 1,867
Non-interest income   523 539 581 658 813 886 946
Operating expenses   908 996 1,069 1,216 1,271 1,441 1,454
Charge for bad debts   328 167 332 759 428 322 206
Profit after tax   272 460 377 71 390 427 726
Shawmut National Corp.
Average assets   24,091 26,475 27,275 25,461 22,391 22,450 25,411
Average earning assets   21,272 23,852 24,746 23,040 20,134 20,183 23,267
Average equity   1,459 1,609 1,743 1,400 1,096 1,250 1,599
Net interest income   1,000 1,011 987 799 759 840 938
Non-interest income   332 432 395 466 531 478 368
Operating expenses   872 900 878 919 970 1,037 1,027
Charge for bad debts   123 124 625 435 466 189 28
Profit after tax   159 243 −129 −133 −171 75 291
Southtrust Corp.
Average assets       7,079 8,228 9,412 11,028 13,653
Average earning assets       6,443 7,502 8,755 10,071 12,586
Average equity       474 526 592 726 956
Net interest income       265 306 376 464 547
Non-interest income       79 91 109 137 175
Operating expenses       200 234 296 374 436
Charge for bad debts       21 44 38 43 45
Profit after tax       73 70 90 114 151
SunTrust Banks, Inc.
Average assets   25,503 27,358 30,089 31,935 33,892 35,357 37,525
Average earning assets   22,497 24,212 26,852 28,650 30,580 32,029 34,085
Average equity   1,590 1,776 2,066 2,261 2,513 2,693 2,873
Net interest income   1,183 1,242 1,348 1,392 1,471 1,633 1,636
Non-interest income   398 465 518 556 613 672 728
Operating expenses   959 1,053 1,140 1,207 1,281 1,425 1,407
Charge for bad debts   143 186 181 201 210 233 188
Profit after tax   283 309 343 355 377 404 474
UJB Finandal Corp.
Average assets   9,422 10,311 11,271 12,772 13,179 13,456 13,694
Average earning assets   8,582 9,391 10,363 11,828 12,180 12,325 12,351
Average equity   696 773 850 857 786 857 951
Net interest income   433 463 502 512 514 557 579
Non-interest income   106 114 122 169 150 176 178
Operating expenses   322 351 380 429 448 503 546
Charge for bad debts   33 40 53 246 167 139 96
Profit after tax   103 116 119 −6 22 54 78
U.S. Bancorp
Average assets   12,708 14,175 15,861 18,327 18,492 19,487 20,684
Average earning assets   10,893 12,141 13,653 16,157 16,504 17,305 18,221
Average equity   859 957 1,060 1,194 1,345 1,465 1,709
Net interest income   503 567 647 737 814 896 964
Non-interest income   196 232 257 299 375 444 532
Operating expenses   480 503 563 619 743 869 982
Charge for bad debts   57 69 84 104 126 134 93
Profit after tax   116 132 158 191 191 148 258
Wachovia Corp.
Average assets   22,970 25,250 28,347 30,469 32,045 31,832 33,629
Average earning assets   19,868 21,831 24,661 26,782 28,309 28,079 29,788
Average equity   1,575 1,790 2,037 2,232 2,473 2,593 2,877
Net interest income   1,015 1,048 1,100 1,173 1,263 1,334 1,382
Non-interest income   361 371 420 466 500 557 629
Operating expenses   809 864 916 954 1,096 1,095 1,130
Charge for bad debts   165 78 88 143 292 121 94
Profit after tax   230 299 328 346 230 433 492
Wells Fargo & Co.
Average assets   44,854 44,853 47,763 51,109 55,022 52,497 51,110
Average earning assets   40,398 40,512 42,809 45,719 49,074 47,339 46,302
Average equity   2,318 2,431 2,744 3,137 3,500 3,582 4,000
Net interest income   1,870 2,009 2,188 2,341 2,542 2,698 2,658
Non-interest income   601 682 779 910 891 1,060 1,094
Operating expenses   1,521 1,521 1,576 1,717 2,019 2,037 2,162
Charge for bad debts   893 301 363 312 1,337 1,213 552
Profit after tax   51 513 601 712 21 283 612

B. National average statistics (weighted average of above 40 banks)[18]

1986 1987 1988 1989 1990 1991 1992 1993
(per cent)
Net interest margin   4.4 4.3 4.2 4.1 4.3 4.6 4.6
Non-interest income/average assets   1.5 1.5 1.6 1.7 1.9 2.0 2.1
Total Income/average assets   5.4 5.4 5.4 5.3 5.7 6.1 6.2
Operating expenses/average assets   3.5 3.5 3.5 3.5 3.8 4.1 4.0
Profit before provisions and tax/average assets   1.9 1.9 1.9 1.8 1.9 2.1 2.2
Profit after tax/average assets   0.1 0.8 0.7 0.5 0.4 0.9 1.2
Profit before provisions and tax/average equity   31.5 32.3 31.4 29.9 29.2 29.4 29.6
Profit after tax/average equity   1.2 14.4 11.4 7.5 6.6 12.1 16.3

Footnotes

Source is annual reports except where otherwise noted. Profit figures exclude abnormal items, except restructuring costs which are treated as operating expenses. Data on non interest income, operating expenses and charge for bad debts are sourced confidentially from major banks and hence are not reported individually. All data are on a consolidated domestic basis. Equity is derived by apportioning total equity pro rata with domestic and overseas assets. [1]

For 1986, Reserve Bank estimates for average assets, average earning assets and net interest income based on apportioning global figures between domestic and overseas operations. [2]

For 1986 to 1989, Reserve Bank estimates for average assets, average earning assets and net interest income based on apportioning global figures between domestic and overseas operations. [3]

Westpac's superannuation prepayments are excluded from profits. [4]

Source is annual reports, except where indicated. Figures are on a consolidated domestic basis. Equity is derived by apportioning total equity pro rata with domestic and overseas assets. [5]

Figures for 1992 and 1993 from Bums Fry Limited, “Chartered Banks 1993 Annual Performance Review”. Figures for average earning assets are Reserve Bank estimates based on apportioning global figures between domestic and overseas operations. [6]

Figures for 1989 to 1993 from Burns Fry Limited, “Chartered Banks 1993 Annual Performance Review”. Figures for average earning assets are Reserve Bank estimates based on apportioning global figures between domestic and overseas operations. [7]

Source is annual reports except where indicated. Data are on a global basis, except for Westpac (see note 12 below). Average assets, average earning assets and average equity are Reserve Bank estimates based on interpolation of end-year reported figures. [8]

Includes Post Bank from October 1992. [9]

Figures for 1993 are estimates based on data published for 18 months to September 1993. [10]

Includes Rural Bank from June 1992 and Lloyds Bank NZA (Australia) from 1993. [11]

Figures are from half-yearly prospectuses and cover NZ Division of Westpac and its guaranteeing subsidiaries. [12]

National average figures for New Zealand differ slightly from those shown in graphs in the Bank's 1993/94 Annual Report as those graphs were based on data supplied by the Reserve Bank of New Zealand for one bank for which we have since obtained published data from the bank itself. [13]

Source is annual reports, except where otherwise noted. Data are on a domestic consolidated basis. Equity is derived by apportioning total equity pro rata with domestic and overseas assets. [14]

Reserve Bank estimates. [15]

Simple average of above individual bank figures for 1988-1993. For 1986 and 1987, figures are from the Bank of England's annual “Banking Act Report”. [16]

Source data were supplied by the Board of Governors of the Federal Reserve System and are based on published financial statements. Data are on a global basis. [17]

For 1987 and 1988, weighted average of those banks for which data are shown in individual bank tables. [18]