World Rankings




































BANKING
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INDUSTRIAL BANKS

Industrial banks, known originally as state-chartered loan companies, were formed in the early part of the 20th century to make consumer loans and offer deposit accounts as part of a move to secure credit for blue collar workers. Many later merged with commercial banks and although 12 states still have industrial bank-charter options on their books, most of the remaining industrial banks now exist in a few states, mainly in the west. Many serve niche markets such as real estate lending and automobile loans. Industrial banks, also referred to as industrial loan companies, are not regulated by the Federal Reserve and may be owned by firms in other financial services businesses such as finance companies, credit card issuer, and securities firms or by nonfinancial businesses such as automakers and department stores. California and Colorado have passed laws in recent years that prohibit nonfinancial firms from owning industrial loan companies.
TOP TEN FDIC-INSURED INDUSTRIAL BANKS, 2004 (1)

($ millions)


Rank

Bank

State

Total assets
1Merrill Lynch Bank USAUT$66,709.1
2UBS Bank USAUT17,561.5
3American Express Centurion BankUT12,833.7
4Fremont Investment & LoanCA9,913.9
5USAA Savings BankNV7,297.2
6Morgan Stanley BankUT5,376.9
7Beal Savings BankNV2,777.3
8GMAC Commercial Mortgage BankUT2,367.8
9GE Capital Financial Inc.UT1,814.5
10BMW Bank of North AmericaUT1,536.8

(1) Ranked by assets.

Source: Federal Deposit Insurance Corporation.