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Article: A `stronger' Bank One Dimon says the struggling institution still a long way from reaching its goals
- Article from:
- Chicago Sun-Times
- Article date:
- April 18, 2001
- Author:
CopyrightCopyright 2001 Chicago Sun-Times. (Hide copyright information)
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Bank One Corp. Chief Executive Jamie Dimon isn't ready to declare
victory in turning around the behemoth financial institution. But its
improving financial health leads him to believe "we've really made a
lot of progress. We're becoming a stronger company."
Investors are beginning to believe, too, even as the company
reported a decline in profits for the first quarter on Tuesday.
The holding company for the nation's fifth-largest bank with $270
billion in assets said first-quarter profit slipped 1.5 percent to
$679 million, or 58 cents a share, compared with $689 million, or 60
cents a share, a year ago, as commercial loans soured, a phenomenon
also experienced by other major banks.