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April 15, 2024

Big banks warn of uncertain year ahead after mixed first quarter financial performances

By KEN SWEET
AP Business Writer

NEW YORK — Big banks warned of an “uncertain” year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.

JPMorgan reported a modest 6% rise in profits Friday while profits at Wells Fargo and Citigroup declined, though both topped Wall Street expectations.


 
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