City National quarterly profit jumps sixfold

Fri, 07/23/2010 - 03:00 EDT
 

Citing strong growth in deposits and better credit quality, the parent of Southern California's largest bank posts net income of $41.3 million. Earnings beat analysts' expectations.

Emerging from the grip of the financial crisis, City National Corp. said strong growth in deposits and improving credit quality helped its quarterly profit jump sixfold.

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