Statistics, Facts & Such
The operating expenses of an "Internet Bank" range from 15% to 20% of net operating income, compared with approximately 60% at traditional branches.
There were 3,622 thrifts in 1987; 2,029 eight years later in 1995; and 1,924 by the end of 1996.
The US Postal Service has 760,000 employees, 39,000 offices, $56.4 billion in annual revenues, and is serviced each year by about 5,000 banks, spending about $100 million each year on cash management services. It plans to soon reduce the number of banks it uses from 5,000 to 50.
A Booz-Allen-Hamilton study predicts that 61% of corporate banks will offer some type of interactive access over the World Wide Web by mid-1998.
The Treasury Department says there are about 10 million people who do not have bank accounts.
Between $7 billion and $8 billion is paid each month to Social Security recipients.
A market research firm estimates 67% of college students now carry credit cards, with an average outstanding balance of $2,100.
Another Booz-Allen-Hamilton report reveals 519 Web sites for corporate customers. Retail banking has more than 1,200. Projections are for 2,000 Web sites each by the year 2000.
21% of the banking industry are not yet planning, developing or operating a corporate banking site on the Internet.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 8, 7/97
First published on 07/01/1997