Citicorp and Chemical Banking Corp. led Tuesday's installment of improved bank earnings reports for the second quarter, but qualifications and skepticism began to creep in.

While Chemical registered an impressive 27% rise in net income, to $453 million, Citicorp had to content itself with a pretax increase of 25%, to $1.4 billion. Citicorp's after-tax net fell 3%, to $853 million, mainly due to the lack of tax benefits realized a year earlier.

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