Several of the country's largest banking companies lack the capital to follow First Chicago Corp. and Fleet Financial Group in aggressively writing down their real estate portfolios, according to stock analyst George Salem.

Mr. Salem of Prudential Securities singled out BankAmerica Corp., Chase Manhattan Corp., Citicorp, and Wells Fargo & Co. as most likely to suffer "negative earnings surprises" because of large amounts of delinquent commercial real estate loans and subpar loss reserves.

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