Chemical Banking’s Earnings Jump 26%

Chemical Banking Corp., one of the nation’s largest banking companies, on Thursday reported a 26% jump in its fourth-quarter profit and record earnings for 1988.

The firm cited a decrease in its provision for loan losses.

Net income for the quarter ended Dec. 31 totaled $288.5 million.

For all 1988, its profit totaled a record $753.6 million, contrasted with a year-ago loss of $853.7 million. The 1988 results also included full-year earnings from Texas Commerce Bancshares, which earned $2.1 million last year, versus 1987’s $120.3-million loss.