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Revenues rise for US banks as litigation costs taper off

Analysts expect revenue for six largest firms to climb to US$413.6b in 2014, second only to record set in 2010

Bank of America Corp and Citigroup Inc led the drop after spending more than US$25 billion combined as they tried to put the biggest disputes behind them, including probes into mortgage bond sales and currency manipulation.

New York

IT WOULD have been a good year for the biggest US banks if it were not for US$30 billion in legal costs.

Revenue at the six largest firms, which start reporting results this week, probably climbed to US$413.6 billion in 2014, second only to a record set in 2010, based on...

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