NationsBank Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
Exhibit 12(a)
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(Dollars in Millions)

Year ended December 31

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1997 1996 1995 1994 1993
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Excluding Interest
on Deposits
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Income before taxes...$ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619
Equity in undistributed
losses (earnings) of
unconsolidated
subsidiaries......... - 2 (7) (3) (5)
Fixed charges:
Interest expense
(including
capitalized interest)5,060 4,342 4,706 3,056 1,512
Amortization of
debt discount and
appropriate
issuance costs...... 19 20 12 8 6
1/3 of net rent
expense............. 180 157 155 141 129
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Total fixed charges 5,259 4,519 4,873 3,205 1,647

Earnings (excluding
capitalized
interest)...........$10,489 $ 9,057 $ 8,676 $ 6,495 $ 4,261
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Fixed charges........$ 5,259 $ 4,519 $ 4,873 $ 3,205 $ 1,647
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Ratio of Earnings to
Fixed Charges 1.99 2.00 1.78 2.03 2.59

Including Interest on
Deposits
- ----------------------
Income before taxes $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619

Equity in undistributed
losses (earnings)
of unconsolidated
subsidiaries....... - 2 (7) (3) (5)

Fixed charges:
Interest expense
(including
capitalized
interest).......... 9,951 8,588 8,980 6,231 4,450
Amortization
of debt discount
and appropriate
issuance costs..... 19 20 12 8 6
1/3 of net rent
expense............ 180 157 155 141 129
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Total fixed
charges......... 10,150 8,765 9,147 6,380 4,585

Earnings (excluding
capitalized
interest).......... $15,380 $13,303 $12,950 $ 9,670 $ 7,199
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Fixed charges....... $10,150 8,765 9,147 6,380 4,585
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Ratio of Earnings
to Fixed
Charges............ 1.52 1.52 1.42 1.52 1.57