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Trump tax cuts could boost profit $12 billion at big U.S. banks

Trump has called for cutting the corporate tax rate to 15 percent from 35 percent. Foto: AP Images

The six largest U.S. banks could see annual profit jump by an average of 14 percent if President Donald Trump delivers on his promise to cut corporate taxes.

The lenders, which stand to benefit more than other industries because they typically have fewer deductions, could save a combined $12 billion a year, according to data compiled by Bloomberg. Trump has called for cutting the corporate tax rate to 15 percent from 35 percent...

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