Banking: Money Makes Money

Banks are usually good mirrors of prosperity, but the $312 billion U.S. banking industry is sharing in the current economic advance to a degree that surprises even it. Bankers, in fact, are making more money than ever before. Last week alltime high first-half earnings were reported by several banks, including the two largest ones, San Francisco's Bank of America and New York's Chase Manhattan. Despite their rising operating costs and the higher interest payments they are forced to pay to remain competitive, the nation's major banks earned 9% more in 1964's first...

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!