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JPM, Wells profit on cuts

JPMorgan Chase and Wells Fargo, the most profitable US banks, relied on cost cuts and smaller loan-loss reserves to generate record income in the first quarter as lending was less lucrative. JPMorgan’s net income rose 33 percent to $6.53 billion, while revenue fell 3.6 percent to $25… …read more
Source: NY Post

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Posted by on April 15, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.