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Wells Fargo's profit rises 4.5 pct
July 14, 2017 / 12:14 PM / 2 months ago

Wells Fargo's profit rises 4.5 pct

July 14 (Reuters) - Wells Fargo & Co, the third-largest U.S. bank by assets, posted a 4.5 percent rise in second-quarter profit, helped by loan growth and higher interest rates.

Net income applicable to common shareholders rose to $5.40 billion, or $1.07 per share, in the quarter ended June. 30, from $5.17 billion, or $1.01 per share, a year earlier.

Analysts on average had estimated earnings of $1.01 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

Net interest income rose 6.4 percent to $12.48 billion.

Reporting by Nikhil Subba in Bengaluru; Editing by Saumyadeb Chakrabarty

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