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Foreign banks' profits lower

Branches of foreign banks in Australia traded in the black in the September 2012 quarter, after incurring losses in the June quarter.The Australian Prudential Regulation Authority put the aggregate profits of 39 foreign bank branches at A$118 million for the September 2012 quarter.APRA put the combined profit for the year to September 2012 at $195 million, well down from $668 million the year before.Foreign banks incurred bad debt charges over the year of $349 million, up from $246 million the year before, a rise consistent with industry trends.

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