National City Corp.

Encyclopedia : N : NA : NAT : National City Corp.

The National City Corporation NYSE: [NCC], based in Cleveland, Ohio, is one of the ten largest banks in America in terms of deposits. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management.

National City has been on an acquisition spree of late, including its $2.1 billion purchase of Cincinnati-based Provident Financial Group in 2004. In addition, in 2005, National City acquired Allegiant Bancorp to secure a presence in the St. Louis, MO market. On the other side of the ledger, National City sold to Bank of America its 83% stake in National Processing, which earns fees from processing merchant credit card transactions.

Contents

1 Financials

1.1 2005
1.2 2004
1.3 2003

2 External links

Financials

2005

Revenue (mil.): $11,036.1
1-Year Sales Growth: 4.51%
Net Income after Tax (mil.): $1,985.2
1-Year Net Income Growth: -28.6%
Employees: 35,231

2004

Revenue (mil.): $10,559.9
1-Year Sales Growth: 10.1%
Net Income after Tax (mil.): $2,779.9
1-Year Net Income Growth: 31.3%
Employees: 35,230

2003

Revenue (mil.): $9,593.8
Net Income after Tax (mil.): $2,117.1
Employees: 33,331

External links

Commercial banks in the United States