Banking: The Glamorous Side

Visitors who have reason to visit Moen, the largest of the remote and steaming Truk Islands in the Western Pacific, will find the usual grass-skirted young women, betel nut-chewing natives, mangrove swamps — and a branch of California's Bank of America. Many major U.S. banks, in fact, are expanding into unlikely earners of the globe, and several of them are growing faster abroad than at home. Last week Manhattan's First National City Bank —which already has outposts from Santo Domingo to Dubai, the chief port of the Arabian Trucial States — opened an other in the Chowringhi section...