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Fortune 500 - Spot Number 171
Company Information
Name: MBNA Corporation
Industry: Regional Banks
Description: MBNA Corporation is the bank holding company of MBNA America Bank, N.A. (the Bank), a national bank, organized in January 1991, as the successor to a national bank, formed in 1982, and the Company's principal subsidiary. The Bank has two wholly owned foreign bank subsidiaries, MBNA Europe Bank Limited, formed in 1993, with its headquarters in the United Kingdom, and MBNA Canada Bank, which was formed in 1997. Through the Bank, MBNA is an independent credit card lender and is an issuer of endorsed credit cards, marketed primarily to members of associations and customers of financial institutions and other organizations.
Financial Summary: For the nine months ended 30 September 2005, MBNA Corporation's net interest income after LLP increased 35% to $1.33B. Net income applicable to Common decreased 28% to $1.37B. Net interest income reflects an increase in average earning asset balances, fewer interest-bearing liabilities, and improved net interest margin and delinquency ratios. Net income was offset by the inclusion of a $764.1M restructuring-related charge.
Business Summary: MBNA Corporation is the parent company of MBNA America Bank, N.A. (MBNA America), a national bank. MBNA America has two wholly owned non-United States bank subsidiaries: MBNA Europe Bank Limited (MBNA Europe) and MBNA Canada Bank (MBNA Canada). MBNA Corporation is also the parent company of MBNA America (Delaware), N.A. (MBNA Delaware), a national bank. The Company is an international financial services company providing lending, deposit, and credit insurance products and services to its Customers. Through MBNA America, the Corporation is an issuer of endorsed credit cards, marketed primarily to members of associations and customers of financial institutions and other organizations. In addition to its credit card lending, MBNA Corporation makes other consumer loans, as well as commercial loans primarily to small businesses. MBNA Corporation conducts its business in the United Kingdom, Ireland and Spain through MBNA Europe, and in Canada through MBNA Canada.
Misc Details
Symbol: KRB
City: Wilmington
State: DE
ZIP Code: 19884
Address: 1100 North King Street
Phone: 800-362-6255
Fax: 302-456-8541
Website: http://www.mbna.com
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