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NATIONAL CITY CORPORATION REPORTS RECORD 1993 EARNINGS

 CLEVELAND, Jan. 14 /PRNewswire/ -- National City Corporation (NYSE: NCC) today reported 1993 net income of $404 million, or $2.41 per common share compared with $347 million, or $2.09 per common share for 1992, reflecting a 15.3% per share increase.
 For the fourth quarter, net income was $104 million, or $.62 per common share, compared with $90 million, or $.54 per common share for the fourth quarter of 1992. Both the quarter and full year earnings per share were records for the Corporation. Prior period earnings per share have been restated to reflect the two-for-one stock split which was effective in July 1993.
 Return on average assets for the year was 1.40%, up from 1.21% in 1992. Return on average common equity for 1993 was 16.12%, up from 15.31% in 1992. For the fourth quarter, these measures were 1.35% and 15.74%, respectively.
 The higher earnings for the fourth quarter and full year were the result of several factors including: a continuing decline in the provision for loan losses, higher fee income, and growth in net interest income resulting from strong net interest margins. The fourth quarter and year-to-date earnings also benefitted from increased loan outstandings relative to the same periods a year ago. Furthermore, reflecting tight cost controls, non-interest expenses were up less than three percent in 1993 including acquisitions, and were down almost two percent excluding acquisitions.
 Nonperforming assets declined for the eleventh consecutive quarter to $209 million at December 31, 1993, compared with $367 million at December 31, 1992. Nonperforming assets at year-end were under one percent of loans and foreclosed real estate compared with 1.94% a year ago. The allowance for loan losses as a percentage of loans was 2.08% at December 31, 1993.
 Total assets at December 31, 1993 were $31.1 billion and stockholders' equity was $2.8 billion. The Corporation's equity capital as a percentage of assets increased to 8.89% at December 31, 1993 compared with 8.63% a year ago. Loans were $21.3 billion and total deposits were $23.1 billion.
 After-tax security gains were $.05 per share for 1993 compared with $.11 per share for the prior year. For the fourth quarter of 1993, after-tax security gains were $.02 per share, compared with $.04 per share for the fourth quarter of 1992.
 National City Corporation is a $31 billion diversified financial services company headquartered in Cleveland, Ohio. National City operates banks and other financial services subsidiaries principally in Ohio, Kentucky and Indiana.
 NATIONAL CITY CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in Thousands Except Per Share Amounts)
 Percent
 1993 1992 Change
 FOR THE FOURTH QUARTER:
 Net Income $ 103,545 $ 90,050 15 pct
 Preferred Dividend Requirements 3,966 4,000 (1)
 Net Income Applicable
 to Common Stock 99,579 86,050 16
 Net Income Per Share .62 .54 15
 Dividends Paid Per Common Share .27 .235 15
 Avg. Common Shares Outstanding 161,742,621 158,340,900 2
 Return on Avg. Common Equity 15.74 pct 15.23 pct
 Return on Avg. Assets 1.35 1.25
 FOR THE YEAR:
 Net Income $ 403,997 $ 346,923 16 pct
 Preferred Dividend Requirements 15,966 16,000 --
 Net Income Applicable
 to Common Stock 388,031 330,923 17
 Net Income Per Share 2.41 2.09 15
 Dividends Paid Per Common Share 1.06 .94 13
 Avg. Common Shares Outstanding 161,163,816 158,011,980 2
 Return on Avg. Common Equity 16.12 pct 15.31 pct
 Return on Avg. Assets 1.40 1.21
 AT DECEMBER 31:
 Assets $31,067,709 $28,963,473 7 pct
 Loans 21,286,141 18,737,565 14
 Deposits 23,063,021 22,585,324 2
 Common Stockholders' Equity 2,564,957 2,299,886 12
 Total Stockholders' Equity 2,763,267 2,499,886 11
 Common Shares Outstanding 158,779,611 158,167,180 --
 Book Value Per Common Share $ 16.15 $ 14.54 11
 Market Value Per Common Share 24.50 24.81 (1)
 Prior period common stock and per share data have been adjusted to reflect the two-for-one stock split effective in July, 1993.
 -0- 1/14/94
 /CONTACT: Thomas A. Richlovsky, senior vice president & treasurer, 216-575-2126, or Janis E. Lyons, vice president, investor relations, 216-575-3329, both of National City/
 (NCC)


CO: National City Corporation ST: Ohio IN: FIN SU: ERN

BM -- CL002 -- 2033 01/14/94 08:05 EST
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Date:Jan 14, 1994
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