American Express Company
Industry: Consumer Financial Services

American Express Company is a diversified worldwide travel, network, and financial services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.

Business Summary
American Express Company, (American Express) is a provider of travel-related services, payment services, financial advisory services and international banking services throughout the world. The Company has three operating segments: Travel-Related Services (TRS), American Express Financial Advisors (AEFA) and American Express Bank (AEB). In December 2004, the Company sold its American Express Business Finance Corporation (AEBF), the equipment-leasing unit of American Express' small business division to Key Equipment Finance (KEF), a unit of KeyCorp. On February 1, 2005, American Express announced its intention to pursue a spin-off of its AEFA operating unit. Upon completion of the spin-off, there would be two distinct corporate groups: the American Express group and the American Express Financial Corporation (AEFC) group. On September 30, 2005, American Express completed the spin-off of Ameriprise Financial, Inc.

Financial Summary
American Express and its subsidiaries provide travel-related services, financial advisory services and international banking services worldwide. For the 6 months ended 6/30/05, revenues rose 10% to $15.58B. Net income before acctg. change rose 13% to $1.96B. Revenues reflect higher discount revenue, increased management and distribution fees and higher net investment income. Net income reflects a decrease in other operating expenses.