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channelnewsasia - 12 days ago

US bank profits fell 36.5per cent in 2020 on pandemic concerns: FDIC

U.S. bank profits fell 36.5per cent in 2020 from the year prior as banks set aside massive amounts to guard against potential losses, but the industry showed signs of strengthening in the fourth quarter as the economy begins to recover from the pandemic, a regulator reported Tuesday.


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