Banking industry strengthens as profits break record

08/29/2013 | Reuters · ABC News

Financial institutions in the second quarter posted a record $42.2 billion in profits, a 23% jump from a year earlier, the Federal Deposit Insurance Corp. reported Thursday. FDIC Chairman Martin Gruenberg said asset quality and loan balances continue to improve, but he warned that banks have nearly exhausted their ability to boost earnings by cutting loan-loss provisions.

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Reuters · ABC News

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