SOURCE: World Street Fundamentals

May 12, 2011 09:09 ET

US Banking Sector Endeavors Recovery -- Industry Report Featuring Citigroup Inc. and Bank of America Corporation

HONG KONG--(Marketwire - May 12, 2011) - Today, www.WorldStreetFundamentals.com released its industry report highlighting Citigroup Inc. (NYSE: C) and Bank of America Corporation (NYSE: BAC). Full fundamental and technical analysis is available at www.WorldStreetFundamentals.com/Reports.php.

The United States banking industry is still questionable even though we have seen a sizeable recovery in recent quarters and several catalysts are to blame: asset quality is in check, tight regulations and banks tightening their belts, and worst of all the continued rise of residential and commercial foreclosures and loan defaults.

Better news is that while low liquidity, loan demand and revenues continue to plague the financial system, help from the government has kept the industry relatively stable. Banks are aggressively playing "catch-up" concentrating on problem credits in residential and commercial real estate and the government has raised the bar providing substantial capital and debt guarantees.

World Street Fundamentals has highlighted Citigroup Inc. because of its globally diversified portfolio and wide customer base across consumers, corporations, governments and institutions. Citi's Net interest revenue increased 10% from the third quarter of 2009, primarily driven by the impact from the adoption of SFAS 166/167. Sequentially, Citi's net interest margin (NIM) of 3.07% decreased by 8 basis points primarily due to the continued run-off and sales of higher-yielding assets in Citi Holdings and investments in lower-yielding securities, given current rates. The entire report on Citigroup Inc. (NYSE: C) is available here: www.WorldStreetFundamentals.com/ViewFullReport.245.php.

Bank of America Corporation acquired Merrill Lynch & Co., Inc. (Merrill Lynch) and, as a result, holds one of the largest wealth management businesses in the world with over 16,700 financial and wealth advisors, an additional 3,000 client-facing professionals and more than $2.1 trillion in net client assets. Bank of America remains a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. The entire report on Bank of America Corporation (NYSE: BAC) is available here: www.WorldStreetFundamentals.com/ViewFullReport.138.php.

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