(Advertisement)

Wells Fargo profit jumps

Bank sets record in fourth quarter

Posted: January 12, 2013 at 2:14 a.m.

Wells Fargo & Co. said it funded $125 billion in mortgages in the fourth quarter, down from the third quarter’s $139 billion.

Wells Fargo, the country’s biggest mortgage lender, reported record earnings for the fourth quarter on Friday, beating analysts’ expectations for both profit and revenue. The bank made more loans, gained deposits and enjoyed above-average returns from the investments made by its privateequity business.

This story is only available from our archives.

Business, Pages 27 on 01/12/2013

(Advertisement)



« Previous Story

Apple exec says sales in China to pass U.S.

Apple expects China to overtake the United States as its biggest market, Chief Executive Officer Tim Cook told a Chinese government news agency. Read »

Next Story »

U.S. trade gap hits $48.7 billion

The container ship HS Bach sits docked at the Port of Miami in November, a month in which the U.S. trade deÿ cit reportedly widened 15.8 percent compared with October.

The U.S. trade deficit expanded in November to its widest point in seven months, driven by a surge in imports ... Read »