8-K

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                  SECURITIES AND EXCHANGE COMMISSION

                       Washington, D.C.  20549


                               FORM 8-K


                            CURRENT REPORT


                Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934



 Date of Report (Date of earliest event reported) March 10, 1994     


                    FLEET FINANCIAL GROUP,INC.               
        (Exact name of registrant as specified in its charter)


                            RHODE ISLAND                            
            (State or other jurisdiction of incorporation)


         1-6366                               05-0341324            
  (Commission File Number)        (IRS Employer Identification No.)


  50 Kennedy Plaza, Providence, Rhode Island                02903   
  (Address of principal executive offices)               (Zip Code)


 Registrant's telephone number, including area code:   401-278-5800


                                                                    
    (Former name or former address, if changed since last report)



                             Page 1 of 6

                       Exhibit Index on Page 2




Item 5.  Other Events.


         Pursuant to Form 8-K, General Instructions F, 
    Registrant hereby incorporates by reference the press 
    release attached hereto as Exhibit 28.

Item 7.  Financial Statements and Other Exhibits.

         Exhibit No.              Description                  Page

         Exhibit 28               Fleet Financial Group,        3
                                  Inc. Press Release
                                  dated March 10, 1994


                             SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act 
of 1934, as amended, the Registrant has duly caused this report 
to be signed in its behalf by the undersigned hereunto duly 
authorized.


                                  FLEET FINANCIAL GROUP, INC.
                                       Registrant


                                  By  /s/ William C. Mutterperl    
                                       William C. Mutterperl
                                       Senior Vice President,
                                       General Counsel and Secretary



Dated:  March 10, 1994

EX-28

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Robert W. Lougee, Jr.                          Media:
Vice President and Director                    Thomas L. Lavelle
Corporate Communications                       (401) 278-3003
(401) 278-5879

Bruce P. Crooks                                Investor:
(401) 278-6241                                 Judith B. Ragge
                                               (401) 278-6444


    Fleet Reengineering Program Identifies $350 Million
            In Sustainable Profit Improvements;
           Efficiency Ratio will be 55% by Mid-1995

 Thousands of Employee-Generated Ideas Will be Implemented
                       Over 12 Months


    Providence, RI, March 10, 1994:  Fleet Financial Group, one 
of the nation's largest bank holding companies, announced today 
that its Board of Directors has approved a plan to 
significantly restructure Fleet's Northeast banking operations 
over the next 12 months "to enhance profitability and prepare 
for future growth."

    Terrence Murray, chairman and chief executive officer, said 
the results of Fleet Focus '94, a seven-month reengineering 
program that identified $350 million in sustainable profit 
improvements, "will enable us to better control costs, make us 
more competitive among industry leaders, and help us better 
serve our customers."

    When fully implemented, based on management's current 
financial outlook, recommendations stemming from Fleet Focus 
'94 will reduce overhead costs by $300 million annually and, 
combined with annual revenue enhancements of approximately $50 
million, will improve Fleet's efficiency ratio (the cost of 
generating revenue) to approximately 55% by mid-1995, among the 
most competitive in the financial services industry.

    Fleet's efficiency ratio was 67% in the second quarter of 
1993.  The full effect of implementation will be realized by 
the second quarter of 1995.

    Implementation of Fleet Focus '94 recommendations will mark 
the culmination of a successful strategic effort by Fleet since 
1990 to improve its competitive strength.  In that time, Fleet 
has successfully improved its liquidity, improved credit 
quality by reducing nonperforming assets, strengthened capital, 
restored earnings to historic levels, and reorganized 
management along functional lines.


    "Fleet Focus '94 was a thoughtful, reasoned examination of 
activities performed in all areas of our banking franchise, and 
it uncovered important ways to restructure operations, 
streamline processes and eliminate redundant activities," 
Murray said.

    "We initiated this review to achieve strategic, longer-term 
objectives, not in reaction to any difficulties.  In fact, our 
earnings last year were just under $500 million, with equally 
strong prospects for the future," he said.

    Implementation of approved ideas will result in the 
elimination of approximately 5,500 positions, resulting in the 
separation of approximately 3,000 employees, over the next 12
months.  Enhanced severance arrangements will be provided to
affected employees.

    "The fact that some employees will lose their jobs is a 
regrettable and personally painful result of this process," 
Murray said.  "However, given our intensely competitive 
industry, we believe that not to have undergone this process 
ultimately may well have put even more jobs at risk."

    Eugene M. McQuade, executive vice president and chief 
financial officer, said Fleet will record an additional expense 
accrual of $25 million during the 1994 first quarter as part of 
the restructuring cost.  This is not expected to have any 
material impact on 1994 earnings.  Fleet previously accrued a 
related restructuring charge of $125 million in the 1993 third 
quarter.

    "We are determined to make our company one of the 
preeminent financial services institutions in the country," 
Murray said.  "To achieve our growth and profitability 
objectives through the remainder of this decade, it was 
necessary for us to review and revise our infrastructure and 
work processes so we can better control costs and compete 
aggressively."

    Fleet launched Fleet Focus '94 in August 1993 to review all 
of its operating policies and procedures.  The seven-month 
review impacted every department and division in Fleet's 
banking operations and included the participation of virtually 
every employee.

    Murray termed the project "essential for Fleet's future.  
It represents a fundamental change in the way we will conduct 
business and how we will run this company in the coming years."


    "Employees surfaced more than 20,000 ideas about how Fleet 
might reduce costs, simplify procedures, redesign work 
processes, enhance fee income, and restructure organizationally 
to position the company for future growth opportunities," 
Murray said.

    Fleet's management has approved more than 3,000 of the 
ideas, which will be implemented over the next 12 months, 
commencing in the second quarter.  Many of the cost-saving and 
revenue-enhancing ideas will cut across the entire corporation, 
while others will be localized to particular divisions, 
departments or other groups within the company, Murray said.

    Numbering more than 2,600 cost-saving ideas and 
approximately 400 that will enhance revenue, the ideas are 
classified into seven broad categories ranging from process 
redesign to centralization and consolidation.

    "Process redesign" and "automation," for example, involved 
more than one-third, or 950, of cost-savings ideas and nearly 
one-half of the total savings; they deal with changing how work 
is done on a day-to-day basis.  Other savings categories 
included "centralization and consolidation" and "vendor 
management," which together incorporated about 250 ideas.  
Additional savings will come from policy changes, 
standardization and general efficiencies.

    The 400 revenue-enhancing ideas are expected to generate 
more than $50 million annually in additional income for Fleet.  
Schedules of fees and charges for various banking services will 
be more uniformly applied.  For example, fewer waivers of 
service fees and charges will occur.  In addition, some new 
pricing points will be established and existing ones 
strengthened.

    Murray said, "The idea generation process involved 
employees from every level of the company and is one reason why 
our review, while intensive, has been unlike most other 
corporate restructuring efforts.  It's also unique because we 
undertook the review process from a position of strength, 
without impacting the momentum of our business or endangering 
our profitibility."

    "I am particularly proud of the thousands of Fleet 
employees who contributed so much to this process," Murray 
said.  "It has been very demanding, and they responded with 
extraordinary interest and energy."

    Fleet Focus '94 was carried out in partnership with Tandon 
Capital Associates, a New York-based financial advisory firm.


    Fleet Financial Group is a $48-billion diversified 
financial services company listed on the New York Stock 
Exchange (NYSE-FLT) with approximately 1,200 offices 
nationwide.  Its lines of business include commercial and 
consumer banking, mortgage banking, consumer finance, 
asset-based lending, equipment leasing, investment management, 
and student loan processing.




           (See attached Fleet Focus '94 Fact Sheet)