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U.S. bank profits expected to drop again

Reuters, 12 Jan 2021
When the biggest U.S. banks begin reporting fourth quarter results on Friday, some of the headlines could show profits plunged by as much as 40% from a year earlier before the pandemic struck.

Analysts anticipate profits to plunge 42% at Citigroup, 39% at Wells Fargo and 33% at Bank of America. Of the big banks, only JPMorgan Chase is expected to see a moderate drop of 5%.


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