BUSINESSWEEK ONLINE : MAY 10, 1999 ISSUE
FINANCE

The New Internet Commercial Banks


    WHAT'S HAPPENING
 
NET.B@NK    Claims to be nation's biggest Internet-only bank.
Atlanta    Profitable for four quarters--raking in $691,000 in
    first three months of 1999. Expanding lending activities
    from mortgages to home-equity and auto loans.
 
SECURITY FIRST    A subsidiary of Royal Bank of Canada, it created a stir by
NETWORK BANK    offering a no-fee checking account paying 6% interest.
Atlanta    Aims to get customers to pay bills over the Net.
 
TELEBANC    Founded 10 years ago, it is a branchless bank with growing
FINANCIAL    Net presence. With $2.3 billion in assets, it made $1.4
Arlington, Va.    million last year. Return on equity is lackluster. Hopes
    to cross-sell new products.


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Finance on the Net

TABLE: The New Internet Investment Banks

TABLE: The New Internet Commercial Banks



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