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JAPAN

From Times Staff and Wire Reports

Banks’ 1991 Profits Slide 14%: Japan’s 11 major commercial banks said their combined pretax profits declined 14% in fiscal 1991 to $11 billion, mainly due to falling stock prices and rising bad loans. The decline in the fiscal year ended March 31 was the third in a row. The 11 banks are Sumitomo, Sanwa, Fuji, Dai-ichi Kangyo, Mitsubishi, Sakura, Bank of Tokyo, Kyowa Saitama, Tokai, Daiwa and Hokkaido Takushoku.


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