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BankAmerica Reports a Profit

January 21, 1988|Reuters

SAN FRANCISCO — BankAmerica Corp., the struggling banking group based in San Francisco, today reported a $60-million fourth-quarter profit, due in part to gains from asset sales, after taking a $100-million restructuring charge.

For the year, BankAmerica's losses widened to $955 million from $518 million in 1986. The bank said the big annual loss reflected a $1.1-billion addition in the second quarter to its reserve against doubtful Third World loans.

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