In the same quarter the bank generated an annualised return on equity of 21%.
In the first half of this year, America looks likely to grow by an annualised 4%.
The 1.7% annualised pace in the second quarter is equivalent to 0.43% quarter-on-quarter growth.
Inflation, according to one foreign embassy, is running at an annualised rate of 60%.
Its exports also surged, by an annualised 53%, partly thanks to strong Chinese demand.
As for Germany, its economy grew by just 0.4% last quarter, at an annualised rate.
By some counts it has already fallen from an annualised 20% in March to 14% in May.
The economy in the October-December quarter made modest gains, growing at an annualised rate of just 0.1%.
Figures released this week showed growth slipping to 2.3% (at an annualised rate) in the first quarter.
Unit labour costs have fallen at an annualised 2% rate, the steepest cumulative decline since the 1950s.
The economy appears to be turning the corner, expanding by an annualised 0.9% in the third quarter.
In America the annualised rate of broad-money growth over the past six months has been just 0.2%.
The economy is now thought to have grown just 0.4% annualised in the first three months of 2011.
Manufacturing production has been falling at an annualised rate of more than 20% for the past three months.
America's GDP fell at an annualised rate of 3.8% in the fourth quarter, the largest decline since 1982.
Those wanting to sell the stock short are now paying around 10% annualised in order to do it.
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The annualised figure was better than an earlier estimate of 0.1% growth, reflecting increased investments in plant and equipment.
On Wednesday, figures showed that the US economy grew at an annualised pace of 1.7% in the April-to-June period.
That is equivalent to an annualised dip of 0.4% in gross domestic product.
South Korea's private consumption rose by an annualised 14% in the second quarter.
America itself has been hurting too, with tourist-industry revenue down by 3.2% (at an annualised rate) in the first quarter.
In the final quarter of 2008, GDP shrank at an annualised rate of 9%, the worst in nearly 50 years.
In the US, for example, we would say that the economy had grown at an annualised rate of around 4%.
During the first quarter of this year annualised growth reached an official 8.1%, compared with 7.1% during the whole of 1999.
In the last three months of 2005, core consumer-price inflation (ie, excluding food and energy) was running at an annualised 2.6%.
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In the second quarter its GDP grew at an annualised rate of 1.7%, according to revised figures published on August 29th.
That suggests a marked recovery from the last three months of 2012, when leading economies shrank at an annualised rate of 0.5%.
Overall, the OECD forecast an average annualised growth of 2.4% among the seven biggest economies in the first quarter of this year.
Therefore overall private fixed investment edged up just 0.7% at annualised rates.
Though economic growth, at an annualised rate of 9%, remains robust, foreign investment has fallen and growth in industrial output has slowed.
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