Tuesday, July 17, 2007

Wells Fargo profit rises 9 pct to record

(Reuters) - NEW YORK, July 17 - Wells Fargo & Co. , the fifth-largest U.S. bank, said on Tuesday second-quarter profit rose 9 percent, as growth in several fee categories offset a decline in mortgage banking income.



Net income for the San Francisco-based company increased to a record $2.28 billion, or 67 cents per share, from $2.09 billion, or 61 cents, a year earlier. Revenue rose 13 percent to $9.89 billion.


Read more at Reuters.com Market News

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