Comerica Incorporated: SWOT Analysis & Company Profile by BusinessReview

VIEWS: 44 PAGES: 23

Business Review’s Comerica Incorporated contains a company overview, key facts, locations and subsidiaries, news and events as well as a SWOT analysis of the company.

More Info
									Comerica Incorporated

_________________________________________________________________________________




Comerica Incorporated: SWOT Analysis &
Company Profile


Reference code: BRFS157CP10-Q4

Published: Apr 2010




Business Review
John Carpenter House
7 Carmelite Street
London EC4Y 0BS
United Kingdom
Tel: +44 (0) 20 7936 6400
Fax: +44 (0) 20 7336 6813



___________________________________________________________________________________________

Comerica Incorporated - SWOT Profile                                                Page 1
Comerica Incorporated

__________________________________________________________________________________________


Comerica Incorporated - Company Overview

Comerica Incorporated (Comerica) is one of the leading commercial bank holding companies in the US. The company is
mainly engaged in lending and accepting deposits from individuals and businesses. Comerica operates through three
reportable business segments namely, the Business Bank, the Retail Bank and Wealth and Institutional Management. In
addition, the company operates through Finance Division. It operates through a wide network of 517 banking centers,
trust services locations, and loan production or other financial services offices principally in Texas, Arizona, Michigan,
California, and Florida. The company is headquartered at Texas, the US.


Financial Performance

The bank reported interest income of (U.S. Dollars) USD 2,105.00 million during the fiscal year ended December 2009, a
decrease of 31.01% from 2008. The net interest income after loan loss provision of the bank was USD 485.00 million
during the fiscal year 2009, a decrease of 57.04% from 2008. The net profit of the bank was USD 17.00 million during the
fiscal year 2009, a decrease of 92.02% from 2008.




Comerica Incorporated - Key Facts

Comerica Incorporated, Key Facts

                                  Comerica Bank Tower, Dallas,
                                  Texas (TX), 75201, United         Ticker Symbol, Stock       CMA (New York Stock
Corporate Address:                                                                             Exchange)
                                                                    Exchange
                                  States


Telephone                         + 1 214 9696476                   No. of Employees           8,939



Fax                               + 1 313 9654648                   Financial Year End         December



URL                               www.comerica.com                  Revenue (in USD Million)   2,105.00



Industry                          Financial Services



Locations                         United States

Source: Annual Report, Company Website, Primary and Secondary Research




___________________________________________________________________________________________

Comerica Incorporated - SWOT Profile                                                                                 Page 2
Comerica Incorporated

__________________________________________________________________________________________


Comerica Incorporated - Business Description

Comerica Incorporated (Comerica) is the US based financial services company. The principal business of the company is
lending and accepting deposits from individuals and businesses. Comerica also provides services which cater to the
financial needs of its customers. Comerica conducts its business activities through three reportable segments, which
includes the Business Bank, the Retail Bank, and Wealth and Institutional Management. In addition to this, the company‟s
Financial Division is also considered as a segment.

The company through the Business Bank offers a broad range of product and services including commercial loans and
lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign
exchange management services and loan syndication services. It is principally comprised of middle market, commercial
real estate, national dealer services, international finance, global corporate, leasing, financial services, and technology
and life sciences. This segment serves the credit and non credit need of medium-size businesses, multinational
corporations and governments. It also offers trade cycle financing products for commercial customers, who are engaged
in cross-border business.

Comerica through its Retail Bank segment deals with all activities related to retail banking particularly to the small
business and personal financial services, and customers and variety of consumer products. This includes small business
banking and personal financial services, consisting of consumer lending, consumer deposit gathering and mortgage loan
origination.

The company through its Wealth and Institutional Management segment offers product and services related to invest
assets based on personal criteria and financial goals fiduciary services, private banking, investment banking, and discount
securities, brokerage services, retirement services, investment management and advisory services company provides
fiduciary services, private banking, retirement services, investment management and advisory services, investment
banking and discount securities brokerage services. In addition, it also offers sale of annuity products, life, disability and
long-term care insurance products. It has started institutional investment consulting and fiduciary back-office outsourcing
services and wealth station.

Comerica through its Finance segment offers securities portfolio, asset and liability management activities. This segment
is responsible for managing the Comerica‟s funding, liquidity and capital needs, performing interest sensitivity analysis
and implementing various strategies to manage the Comerica‟s exposure to liquidity, interest rate risk and foreign
exchange risk.




___________________________________________________________________________________________

Comerica Incorporated - SWOT Profile                                                                                 Page 3
Comerica Incorporated

__________________________________________________________________________________________


Comerica Incorporated - Major Products and Services

Comerica Incorporated is one of the leading commercial bank holding companies in the US. The key services of the
company include:

Comerica Incorporated, Major Products and Services
Services:

Personal Finance:

Banking

Loans & Credit Cards

Investing

Insurance

Checking

Savings & Money Market

Small Business:

Small Business Banking

Loans & Lines of Credit

Cash Management

Business Services

Corporate:

Lending, Leasing & Banking

Treasury Management

Specialized Industry Expertise

Global Services

Institutional Services

Retirement Services

Wealth Management:

Wealth Planning

Private Banking

Trust Services

Investment

Insurance Services
Source: Annual Report, Company Website, Primary and Secondary Research




___________________________________________________________________________________________

Comerica Incorporated - SWOT Profile                                                                          Page 4
Comerica Incorporated

__________________________________________________________________________________________


Comerica Incorporated - History

Comerica Incorporated, History

    Year                Event type                                                  Description


                                                The company opened six new banking centers across Southern California in Los
   2010      Corporate Changes/Expansions
                                                Angeles, San Bernardino and San Diego Counties


                                                Comerica Bank and FHLB Dallas awarded partnership grants to three Dallas-based
   2009      Contracts/Agreements               nonprofit organizations namely, Business Assistance Center, Inc., Jeffries Street
                                                Learning Center, and City Wide Community Development Corporation .


                                                Comerica opened 28 new banking offices in Fort Worth, Texas; Mesa, Arizona;
   2008      Corporate Changes/Expansions
                                                Oakland, California; and Orlando, Florida.


   2007      Corporate Changes/Expansions The company relocated its corporate headquarters to Dallas, Texas.


   2001      Acquisitions/Mergers/Takeovers Comerica acquired Imperial Bancorp.


                                                The company divested its subsidiaries namely, Comerica Bank-Illinois and John V.
   1996      Others
                                                Carr & Son, Inc.


   1992      Acquisitions/Mergers/Takeovers Comerica merged with Manufacturers National Corporation.


   1988      Acquisitions/Mergers/Takeovers The company acquired Grand Bancshares, Inc. to expand its operations in Texas.


                                                Comerica established Comerica Trust Company of Florida, N.A. to enter into Florida
   1982      Corporate Changes/Expansions
                                                market.


   1982      Corporate Changes/Expansions The company changed its name to Comerica Incorporated.


                                                The Detroit Bank, The Birmingham National Bank, Ferndale National Bank, and Detroit
   1956      Incorporation/Establishment        Wabeek Bank and Trust Company were consolidated to formed The Detroit Bank &
                                   
								
To top