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JP Morgan to launch corporate banking unit

JP Morgan Chase is launching a corporate banking unit.

According to the Financial Times, the global business will be aimed at selling loans and commercial banking services to multinational corporations.

The new unit will sell products including loans and commodities, and offer services such as trading and cash management.

Countries on the bank’s target list include China, India and Brazil. The UK will follow, along with the rest of the world over a two-year period.

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