March 26, 2009 / 4:59 PM / 10 years ago

FACTBOX-Barclays sees Citi, JPM among big winners of govt moves

March 26 (Reuters) - Barclays Capital on Thursday named banks that may benefit the most and those who may gain the least from the slew of recent government actions to prop up the financial markets.

According to Barclays estimates, Citigroup Inc (C.N) and JPMorgan Chase & Co (JPM.N) are among banks that will emerge the top winners, while regional banks, like Fifth Third Bancorp (FITB.O), may see the least benefit.

The report by Barclays analyst Jason Goldberg looked at factors including the Public-Private Partnership Investment Program and proposed accounting changes, as well as negatives including stress tests and asset quality problems.

The list below shows the ranking assigned by Barclays, and more detail on methodology is below:


Bank of New York Mellon Corp (BK.N)

Citigroup Inc (C.N)

JPMorgan Chase & Co (JPM.N)

Northern Trust Corp (NTRS.O)

PNC Financial Services Group (PNC.N)

State Street Corp (STT.N)

Wells Fargo & Co (WFC.N)


Bank of America Corp (BAC.N)

Comerica Inc (CMA.N)

First Horizon National Corp (FHN.N)

M&T Bank Corp (MTB.N)

TCF Financial Corp TCB.N

U.S. Bancorp (USB.N)

Zions Bancorp (ZION.O)


BB&T Corp (BBT.N)

Fifth Third Bancorp (FITB.O)

KeyCorp (KEY.N)

Marshall and Ilsley Corp MI.N

Regions Financial Corp (RF.N)

Synovus Financial Corp (SNV.N)

SunTrust Banks Inc (STI.N)

More on methodology: The report scored banks based on positives and negatives. Each bank was given a score ranging from 0 (no impact) to 3 (above average impact) for each of the positives and negatives. The scores were then totaled and used to rank banks.

Potential positives include:

*Public-Private Partnership Investment Program (securities and loans)

*Proposed FASB changes for fair value accounting and other-than-temporary impairments

*Strong mortgage environment

*Capital markets

*Net interest margins

*Possible early TARP payback

*The launch of TALF

Potential negatives include:

*Deterioration of assets


*Stress test uncertainty

*Market activity (Compiled by Tenzin Pema in Bangalore, Editing by Dinesh Nair)

0 : 0
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