The Top 100 bank of America in terms of operating and equity profits – Part 2
Wednesday, December 14th, 2011 3:24:48 by Usman Khalid
Texas showed a steady and firm performance in the last three years. It was among the last US states who fell victim to the 2008 recession and was the first one to get out of the ordeal.
Prosperity did not show an upward performance this year only, but it has been in the thick of profits two years running. Although the 2010 performance chart was not as promising as this year, the bank was the first one to hurl out of the crisis.
Prosperity showed the namesake output this year in every regard, becoming a sight for sore eyes. It showed 0.3% non-performing loans out of the total lending. Moreover, the non-performing assets were among the lowest in the lot, 0.3 percent of the total
assets.
Prosperity took advantage of the recession and bought out $3.6 Billion deposits of Franklin Bank in 2008, making it safe to shores when the storm was over.
The main reason for a low-level recession in the southern part of US was agricultural backing and nominal real estate rates in the territory. States like Texas, Mississippi and Arizona did not indulge into real estate bubble that came out as the root cause
for all the 2008 fiasco.
Bank of Hawaii came second. It topped the same list last year. However, still this year, the bank had the highest return on average equity.
Big shots like JP Morgan Chase and Citigroup, which come under the umbrella of Too-big-to-fail, managed to remain in the top half although there profits were disappointing as compared to their dollar-worth presence in the pool.
Citigroup was 31st while JP Morgan Chase managed to secure 47 position, merely making to the top half by a hair’s breadth. Wells Fargo, the fourth largest bank in terms of equity shares came 83rd and Bank of America disappointingly
came 89th in the list.
Short URL: https://www.newspakistan.pk/?p=6133
Posted by Usman Khalid
on Dec 14 2011. Filed under Business.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
