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Wachovia Corp., fueled by growth in its general bank over last year, could prove to be a top performer among retail financial institutions this year, analysts say.
A research report by Merrill Lynch & Co.'s Judah Kraushaar says Wachovia has grown savings products, improved customer service scores and retained customers. Kraushaar expects Wachovia's earnings per share could grow 10% this year, even recognizing that 2003 will be a tough year for regional banks.
That estimate is nearly twice the expectation for some of Wachovia's peers, according to Kraushaar. Much of the credit goes to the general bank, which oversees all retail banking and commercial lending, Kraushaar says.
Ben Jenkins III,...