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National City Boasts, Despite Record Q2 Loss 

Jul 24, 2008By

National City Corp. [stock NCC][/stock] said Thursday morning that it lost a record $1.8 billion in the second quarter, or $2.45 per share, as the Cleveland-based bank boosted its provision for loan losses to $1.6 billion amid rising credit costs. But boasts from CEO Peter Raskind seemed to catch investors’ imaginations, at least early on in trading, with shares up almost 6 percent when this story was published.

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