American Express reported this week that its net income declined 53%, from $2.8 billion in 2000 to $1.3 billion last year. The firm, which is comprised credit, travel and investment businesses, said that the net revenues for its financial services unit declined 33%.

The company’s financial unit took an $11 million pre-tax charge resulting from insurance claims directly related to the terrorist attacks of Sept. 11. In addition, the firm’s investment unit took an additional charge of $1 billion in write-downs of its portfolio and costs associated with skewing its portfolio toward lower-risk securities.

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