JPMorgan Chase & Co, the biggest bank in the US, lost $5.8 billion in 2012 from disastrous credit bets.
Around $4.4bn of those came in the second quarter of the year although the bank still generated almost $5bn of profit for the period.
JPMorgan said it had cleaned up its Chief Investment Office, which made the bad trades, although it admitted that a further $700 million to $1.7bn could be lost.
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