EXHIBIT 12(b)
FLEET FINANCIAL GROUP, INC.
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED DIVIDENDS
EXCLUDING INTEREST ON DEPOSITS
(millions)
1997 1996 1995 1994 1993
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Earnings:
Income before income taxes, extraordinary credit and
cumulative effect of accounting changes $2,171 $1,931 $1,034 $1,380 $1,094
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 567 685 1,278 990 752
(2) 1/3 of rent 49 52 50 51 52
(b) Preferred dividends 103 118 62 49 60
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(c) Adjusted earnings $2,890 $2,786 $2,424 $2,470 $1,958
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Fixed charges and preferred dividends $ 719 $ 855 $1,390 $1,090 $ 864
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Adjusted earnings/fixed charges 4.02x 3.26x 1.74x 2.27x 2.27x
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INCLUDING INTEREST ON DEPOSITS
1997 1996 1995 1994 1993
------ ------ ------ ------ ------
Earnings:
Income before income taxes, extraordinary credit and
cumulative effect of accounting changes $2,171 $1,931 $1,034 $1,380 $1,094
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 567 685 1,278 990 752
(2) 1/3 of rent 49 52 50 51 52
(3) Interest on deposits 1,654 1,754 1,726 1,170 1,165
(b) Preferred dividends 103 118 62 49 60
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(c) Adjusted earnings $4,544 $4,540 $4,150 $3,640 $3,123
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Fixed charges and preferred dividends $2,373 $2,609 $3,116 $2,260 $2,029
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Adjusted earnings/fixed charges 1.92x 1.74x 1.33x 1.61x 1.54x
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