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Friday, July 16, 2010

JPMorgan Profit Leaps Nearly 80%


US banking giant JPMorgan Chase on Thursday announced a net profit of 4.8 billion dollars in the second quarter, up nearly 80 percent from the same period last year.

Reporting solid performance across most business areas, the New York-based bank's profits included 1.5 billion dollars that had been set aside to cover bad loans.'

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