U.S banks' international strategy

--BAC will trail JPMorgan and Citi: only 13% revenue is from overseas, while around 50% for Citi --Europe and Asian account for more than half of the word economic output. European and Asiancompanies have accounted for 61 percent of equity-underwritingfees paid to investment banks this year, data compiled byBloomberg show. In 2000, U.S. companies paid 57 percent. --Analysts eye on Washington Mutual and Wells Fargo, Citi is on tap. --US. real GDP is 1.9% in the 1st qtr, compared to 11.1% in China. Inflation 2.7% in U.S vs. 3.4% in China --Citi first move advantage and deal with mult countriy at the same time --BAC penetrate one country each time and centered on parternship --BAC's purchase of MBNA makes it the leading credit-card issuer in U.K, Ireland, and Spain. Now the company want to sell banking products to credit card holder. --In the securities industry, U.K. brokers were snapped up by U.S. giants such as Merrill, which bought the biggest, Smith New Court, in 1995. Now, ``banks like Bear Stearns, Wachovia and Bank of America are finding entrenched and stiff competition from U.S. banks that were there before,'' Questa said. ``Largely, they have missed the boat.'' --International markets don't come without the kinds of risks Bank of America's Lewis prefers to avoid. Citigroup said it would shut about 80 percent of its consumer-finance branches in Japanearlier this year after the government passed legislation cappinginterest rates. The company raised its loan-loss reserves inJapan by $375 million and had closure costs of $40 million.