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BBC News - JP Morgan reports $4.4bn third-quarter profit

JP Morgan has reported a 23% rise in profit in the third quarter, as the bank was able to set aside less money to cover loan losses.

The company reported a net profit of $4.4bn (£2.8bn), compared with a profit of $3.6bn a year ago.

The bank set aside $1.5bn for retail credit losses during the quarter, less than half the $3.9bn it set aside during the third quarter of 2009.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Wed Oct 13th, 2010 at 08:08:44 AM EST
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