Banking: First National's Full House

The world's busiest bank has, in the past five years, doubled its number of branches (to 278), almost doubled its loans (to $7.9 billion), and ventured into such sidelines as equipment-leasing and factoring, a fairly risky form of finance in which loans are made against accounts receivable. Such expansion and diversification enabled Manhattan's 153-year-old First National City Bank last June to pass its archrival, the Chase Manhattan, and become the nation's second largest bank. With assets of $13.8 billion, it now ranks behind only California's Bank of America, which has $15.9 billion.

Conrad's Comrade. The "Citibank," as moneymen call it,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!