The logo for Wells Fargo bank is pictured in downtown Los Angeles, California July 17, 2012. REUTERS/Fred Prouser
Wells Fargo third-quarter profit rises on mortgage lending surge
Posted : Friday, 12 October 2012 08:10AM
(Reuters) - Wells Fargo & Co <WFC.N> on Friday reported higher third-quarter profits on a surge in mortgage lending.
The fourth biggest U.S. bank said net income was $4.9 billion, or 88 cents a share, in the quarter, up from $4.1 billion, or 72 cents a share, in the same period a year earlier.
Wells is the largest U.S. mortgage lender.
(Reporting By Rick Rothacker in Charlotte, N.C.; Editing by Jeffrey Benkoe)
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