Bank bears get wake-up call after US$8.5bil carnage


New York: After missing out on last year’s huge bank rally, exchange-traded fund (ETF) investors may soon be scrambling to catch up as industry giants surprise the market with stellar earnings.

Fuelled by a surge in trading, JPMorgan Chase & Co posted the best year for any US bank in history while Citigroup Inc surpassed its chief’s profitability target.

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