BANKING: Finishing a Poor Third

In the race for supremacy between the nation's three leading banks, one is lagging badly. Last month, while the Bank of America and Citibank reported nearly 12% increases in earnings for the second quarter of the year as compared with the year-ago period, the Chase Manhattan reported a dismal 44.7% decrease in profits, to $30.1 million, v. $54.5 million for the second quarter of 1975. The Chase remains a powerful financial institution, with $43.9 billion in assets. But clearly it has lost its front-running momentum.

Wall Street analysts had predicted that the Chase...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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