Banking Industry Overview

Companies that provide banking services such as checking and savings; deposits; loans, leases, mortgages, and credit cards; ATM networks; securities brokerage; investment banking; insurance; and mutual funds and pension funds.

Summary

Constancy has long been the hallmark of the banking industry, but the ability to adapt may be a bank's greatest asset.

The wave of mega-mergers that swept over the industry in the late 1990s and early 2000s has been replaced by the era of mega-mega mergers. When JPMorgan Chase and Bank of America (BofA) bought fellow top-ten banks (BANK ONE and FleetBoston, respectively) in 2004, the deals thrust them into the rarefied air of US financial institutions with more than $1 trillion in assets.

Full Banking Industry Description

• Haci Ömer Sabanci Holding A.S.
• 1st Source Corporation
• Abbey National plc

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Banking maps to a number of NAICS codes including:

Full Banking Industry Codes

• American Bankers Association
  
• ATM Industry Association
  
• Bank Administration Institute
  

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